✨ Financial Statements Notes
3520
NEW ZEALAND GAZETTE
No. 147
Notes to and forming part of the financial statements for the year ended 31 March 1999
| 1999 $000 | 1998 $000 | |
|---|---|---|
| 15. RECEIVABLES AND PREPAYMENTS | ||
| Trade receivables - line charges received in advance | (5,267) | - |
| Provision for doubtful debts | - | (335) |
| (5,267) | (335) | |
| Other receivables | 4,932 | 19,524 |
| Prepayments | 820 | 6,500 |
| 485 | 25,689 |
16. RECONCILIATION OF SURPLUS (DEFICIT) AFTER TAX WITH CASH INFLOW FROM OPERATING ACTIVITIES
| Reported surplus (deficit) after tax | 22,724 |
|---|---|
| Add (less) non cash items | |
| Depreciation | 19,961 |
| Writedown of fixed assets | 1,300 |
| Net loss retail sale | 17,559 |
| Movement in deferred tax | 16,147 |
| Loss (gain) on sale of fixed assets | (47) |
| Movement in fixed asset accruals | 2,709 |
| 57,629 | |
| Add (less) movement in other working capital | |
| Increase (decrease) in accounts payable and accruals | (96,843) |
| (Increase) decrease in receivables and prepayments | 25,204 |
| Increase (decrease) in taxation refund | (5,922) |
| (77,561) | |
| Net cash inflow from operating activities | 2,792 |
17. FINANCIAL INSTRUMENTS
Credit risk
Financial instruments that potentially subject the company to credit risk principally consist of bank balances and accounts receivable.
The company performs credit evaluations on all electricity customers and requires a bond from customers who have yet to establish a suitable credit history with the company.
The company monitors the credit quality of the major financial institutions that are counterparties to its off balance sheet financial instruments and does not anticipate any non performance by the counterparties.
| 1999 $000 | 1998 $000 | |
|---|---|---|
| Maximum exposures to credit risk as at balance date are: | ||
| Bank balances | 2,816 | 390 |
| Receivables | 4,932 | 19,190 |
| Advances to subsidiaries | - | 10,257 |
The above maximum exposures are net of any recognised provision for losses on these financial instruments.
Next Page →
PDF embedding disabled (Crown copyright)
View this page online at:
VUW Te Waharoa —
NZ Gazette 1999, No 147
NZLII —
NZ Gazette 1999, No 147
✨ LLM interpretation of page content
🏭
Financial Performance of Vector Limited for the year ended 31 March 1999
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Performance, Revenue, Surplus, Deficit, Tax, Electricity Lines Business, Notes to Financial Statements, Reconciliation of Surplus, Financial Instruments, Credit Risk