✨ Financial Statements
30 AUGUST NEW ZEALAND GAZETTE 2921
WEL ENERGY GROUP LIMITED
| Line Business | ||
|---|---|---|
| 2000 | 1999 | |
| ($000s) | ($000s) |
9 Non-current Liabilities
Payables and accruals
Borrowings
Deferred tax | 6,051 | 5,082 |
Other non-current liabilities
| 6,051 | 5,082 |10 Contingencies
There are no contingent liabilities (1999: nil)
11 Capital commitments
There are no capital commitments in the line business (1999: Nil).
12 Financial Instruments
(a) Risk
Nature of activities and management policies with respect to financial instruments:
(i) Concentrations of Credit Risk
In the normal course of its business, the Group incurs credit risk from trade receivables from customers and transactions with financial institutions. A provision has been set up for trade receivables which are unlikely to be collected.
The Group has a credit policy which is used to manage this exposure to credit risk. As part of this policy, limits on exposures with counterparties have been set and are monitored on a regular basis.
The Group has in excess of 90% of its trade debtors owing from the incumbent retailer. This debt is subject to a written agreement and regular credit checks. The Group does not require any collateral.
(b) Fair Values
The Directors estimate that the carrying amounts of financial instruments in the Statement of Financial Position equal their fair values.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 116
Gazette.govt.nz —
NZ Gazette 2000, No 116
✨ LLM interpretation of page content
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Wel Energy Group Limited Financial Statements
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🏭 Trade, Customs & IndustryFinancial Statements, Non-current Liabilities, Payables, Borrowings, Deferred Tax, Contingencies, Capital Commitments, Financial Instruments, Credit Risk, Trade Receivables, Fair Values