✨ Financial Statements Continuation
26 JULY NEW ZEALAND GAZETTE 1979
WAIPA NETWORKS LIMITED - LINES BUSINESS
| 2000 1999 |
| $ $ |
10 TERM LIABILITIES
Inter-business Loan - Other Business (9.95%)
Repayable between 2 and 5 years 8,000,000 -
11 FINANCIAL INSTRUMENTS
Credit Risk
In the normal course of its business, Waipa Networks incurs credit risk from trade receivables from customers. Waipa Networks largest customer accounts for 75% (1999 14%) of total sales and 54% (1999 62%) of trade receivables at balance date for which a bank performance bond is held. There are no other significant concentrations of credit risk and Waipa Networks generally does not require any collateral.
Waipa Networks places its cash and short term deposits with high credit quality financial institutions with a recognised credit rating of A- or better and limits the amount of credit exposure to any one institution, as set forth by the Board of Directors. While the company may be subject to credit losses up to the contract amounts in the event of non-performance by other parties, it does not expect such losses to occur.
Currency Risk
Waipa Networks has no exposure to currency risk.
Interest Rate Risk
Waipa Networks has no exposure to interest rate risk.
Fair Value
The estimated fair value of Waipa Networks' financial instruments at 31 March 2000 are stated in the Statement of Financial Position.
12 CONTINGENT LIABILITIES AND CAPITAL COMMITMENTS
Waipa Networks has an exposure of up to $197,101, due to a dispute with Transpower over its charges. Our legal advice is that we have no liability in this issue.
There are no other contingent liabilities as at 31 March 2000 (1999 Nil).
There are no commitments for future capital expenditure as at 31 March 2000 (1999 Nil).
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 83
Gazette.govt.nz —
NZ Gazette 2000, No 83
✨ LLM interpretation of page content
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Notes to Financial Statements for Waipa Networks Limited
(continued from previous page)
🏭 Trade, Customs & Industry31 March 2000
Financial Statements, Liabilities, Contingent Liabilities, Capital Commitments, Waipa Networks Limited