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New Zealand Gazette – 1998 – No. 146

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✨ Financial Statements Notes

16 SEPTEMBER
NEW ZEALAND GAZETTE
3533

TRUSTPOWER LIMITED AND SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1998

NOTE 12 : CURRENT LIABILITIES

Accounts payable and accruals
Employee entitlements
Provision for dividend

LINE BUSINESS $'000	ENERGY BUSINESS $'000	GENERATION BUSINESS $'000
6,578	8,609	1,558
1,945	621	28
7,067	368	2,004
15,590	9,598	3,590

NOTE 13 : NON CURRENT LIABILITIES

Unsecured loans
Deferred taxation (refer note 4)

LINE BUSINESS $'000	ENERGY BUSINESS $'000	GENERATION BUSINESS $'000
48,163	-	36,561
995	67	304
49,158	67	36,865

Unsecured loans:
Repayment terms
One to two years
Two to five years


-	-	-
48,163		36,561

Weighted average interest

| 9.44% | 9.44% | 9.44% |

NOTE 14 : FINANCIAL INSTRUMENTS

In the normal course of business, the company incurs credit risk from trade receivables and transactions with financial institutions and electricity purchase price hedges.

The company has a credit policy to manage the risk from trade receivables and has a provision for trade receivables that are unlikely to be collected. The company also requires a bond from customers who do not meet certain credit criteria.

The company does not have any significant concentration of credit risk. The company does not require any collateral or security to support financial instruments as it only deposits with banks or other financial institutions with high credit ratings. The company further minimises its credit exposure by limiting the amount of funds placed with any one financial institution at any one time. The directors estimate that the carrying amounts of financial instruments in the balance sheet equal their fair value.

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VUW Te Waharoa — NZ Gazette 1998, No 146

NZLII — NZ Gazette 1998, No 146

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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for TrustPower Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Current Liabilities, Non-Current Liabilities, Financial Instruments, TrustPower Limited

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