New Zealand Gazette – 1999 – No. 164

Page 3935

✨ Financial Statements



5 NOVEMBER NEW ZEALAND GAZETTE 3935

BULLER ELECTRICITY LIMITED – LINE BUSINESS

14. Financial Instruments

Credit Risk

i) In the normal course of business the company incurs credit risks being cash, bank deposits and debtors transactions with consumers and financial institutions.

ii) The company has a credit policy evaluating all customers requiring credit to manage the debtors risk and has made a provision for debtors that are unlikely to be collected.

iii) The company also requires a bond or a guarantee from consumers.

iv) The company does not have any significant concentration of credit risks. It does not require any security to support investments as it only banks with those institutions that have high credit ratings.

v) The company has a policy that minimises its credit exposure by limiting the amount of cash and short term investments placed with any one financial institution at any one time.

vi) The directors consider that the carrying amount of financial instruments in the balance sheet equal their fair value.

15. Commitments and Contingent Liabilities

Contingent Liability

There are no contingent liabilities at balance date. (1998 $ Nil)

Commitments

There are no commitments at balance date. (1998 $ Nil)

The accompanying notes form part of these financial statements



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Financial Statements, Credit Risk, Commitments, Contingent Liabilities, Buller Electricity Limited