New Zealand Gazette – 1999 – No. 117

Page 2818

✨ Financial Statements

(7) Financial Instruments

Credit and interest rate risk

Financial instruments which potentially subject the company to concentrations of credit risk consist principally of short term deposits, accounts receivable and investments.

Cash balances are held with trading banks, with surplus funds being deposited with banks for short terms.

No security or collateral is held by the company in respect of any account receivable.

Interest rates on term loans are fixed and therefore carry no interest rate risk. The interest rate on the bank overdraft is floating and therefore subject to fluctuations and the company is exposed to risk in that regard.

Fair Value

	Carrying value 31.3.99	31.3.98	Fair Value 31.3.99	31.3.98
Cash at bank	1,366	(4,573)	1,366	(4,573)
Short term deposits	2,450	0	2,450	0
Trade debtors	409	1,362	409	1,362
Other receivables	8,936	436	8,936	436
Trade creditors	2,660	992	2,660	992
Term liabilities	106	124	106	124

(8) Reconciliation of net surplus for the year with net cash flow from operating activities

	31.3.99	31.3.98
Net surplus after tax	2,022	1,906
Add/(less) non-cash items:
Depreciation	2,269	1989
	4,291	3,895
Add/(less) movements in working capital items:
(Increase)/decrease in taxation refund	(519)	(98)
(Increase)/decrease in trade debtors	953	135
(Increase)/decrease in stock	44	230
(Increase)/decrease in other current assets	335	(268)
Increase/(decrease) in creditors	1,668	246
Increase/(decrease) in provision for holiday pay	35	(109)
Increase/(decrease) in other current liabilities	438	-
Increase/(decrease) in deferred taxation	783	-
	3,737	136
Net cash inflow from operating activities	8,028	4,031

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VUW Te Waharoa — NZ Gazette 1999, No 117

NZLII — NZ Gazette 1999, No 117

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✨ LLM interpretation of page content

🏭 Central Electric Limited Statement of Accounting Policies (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Instruments, Credit Risk, Interest Rate Risk, Fair Value, Reconciliation of Net Surplus

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