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New Zealand Gazette – 1999 – No. 116

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✨ Financial Statements Notes

NEW ZEALAND GAZETTE

10 SEPTEMBER

2787

TOP ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

FOR THE 12 MONTHS ENDED 31 MARCH 1999

8 TERM LIABILITIES

	Interest Rate %	Repayable	Fair Value	LINE BUSINESS
				1999	1998
Facility Ag. 15.03.1999	4.647	14.4.1999	471,366	471,366
Facility Ag. 15.03.1999	4.845	14.6.1999	471,366		471,366
Facility Ag. 15.03.1999	4.958	15.9.1999	471,366		471,366
Facility Ag. 26.03.1999	*5.455	27.3.2000	896,056	895,595
Facility Ag. 25.09.1998	*7.155	25.9.2000	2,408,281	2,356,828
Renewal Loan 34	16.000	1.10.2000	432,868	377,093	496,000
Facility Ag. 07.08.1998	*7.695	7.8.2001	4,865,400	4,713,656
Facility Ag. 04.11.1998	*6.775	4.11.2002	953,845	942,730
BNZ loans				10,700,000	16,089,000

Less current portion

| | | | | 2,310,000 | 16,089,000|

Term liabilities

| | | | | 8,390,000 | 496,000 |

Repayable as follows:
Due after 1 but before 2 years

| | | | | 2,733,820 | - |
Due after 2 but before 5 years

| | | | | 5,656,180 | 496,000 |

| | | | | 8,390,000 | 496,000 |

Effective interest rate under interest rate swap agreements

The Company repurchased term liabilities of $3,600,000 (1998: $3,600,000) at 31 March 1995 and the resulting financial asset has been offset against the relevant financial liability in these accounts. No risk attaches to this repurchase. During the period and in the future, interest received from the investment will be deducted from the interest paid on the liability when disclosed by way of note in the financial statements, until such time as the loan is fully cancelled.

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VUW Te Waharoa — NZ Gazette 1999, No 116

NZLII — NZ Gazette 1999, No 116

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Notes to the Special Purpose Financial Statements for Top Energy Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Term Liabilities, Interest Rates, Fair Value, Line Business

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