✨ Financial Disclosure by Horowhenua Energy Limited
NEW ZEALAND GAZETTE
No. 107
Horowhenua Energy Limited Line Business – Disclosure 1999
10. Receivables and prepayments
| 1999 | 1998 | |
|---|---|---|
| $000 | $000 | |
| Trade debtors | 2,410 | 2,020 |
| GST refund due | 426 | - |
| Amount due from Horowhenua Energy Trust | - | 110 |
| Prepayments | 6 | - |
| Total | 2,842 | 2,130 |
Less provision for doubtful debts | 30 | 100 |
| | 2,812 | 2,030 |
11. Financial instruments
Credit risk
Financial assets which potentially subject the Company to credit risk principally consist of bank balances, accounts receivable.
The Company manages its principle credit risk by having Use of System Agreements with its major customers to maintain a minimum credit rating of BBB or better. Bank balances and investments in short term deposits are made with registered banks with satisfactory credit ratings. Exposure with any one financial institution is restricted in accordance with company policy.
No collateral is held on the above amounts.
Maximum exposures to credit risk as at balance date are:
| 1999 | 1998 | |
|---|---|---|
| $000 | $000 | |
| Bank balances | 5,728 | 2,934 |
| Receivables | 2,812 | 2,030 |
The above maximum exposures are net of any recognised provision for losses on these financial assets.
Concentrations of credit risk
The Company has exposures to concentrations of credit risk by having only five line customers. This is managed as mentioned above through the Use of System Agreements.
Currency risk
The Company has no material exposure to foreign exchange risk.
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VUW Te Waharoa —
NZ Gazette 1999, No 107
NZLII —
NZ Gazette 1999, No 107
✨ LLM interpretation of page content
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Financial and Performance Disclosure by Horowhenua Energy Limited
(continued from previous page)
🏭 Trade, Customs & Industry28 May 1999
Electricity, Financial Disclosure, Performance Measures, Horowhenua Energy Limited, Receivables, Credit Risk, Currency Risk