New Zealand Gazette – 2001 – No. 115

Page 2985

✨ Financial Statements Notes



3 SEPTEMBER
NEW ZEALAND GAZETTE
2985

Notes to the financial statements (continued)
For the year ended 31 March 2001

  1. Borrowings

a. Non-Current
Bank loans unsecured 3,200 3,200
Lease Liability - 9
Shareholder subordinated Debt 10,000 10,000
13,200 13,209

b. Current
Bank loans unsecured 3,200 3,200
Lease Liability 9 20
3,209 3,220

  1. Payables and accruals

Trade Creditors 2,299 1,747
Other accruals 36 -
Employee provisions 158 200
2,493 1,947

  1. Bank Loans

Total bank borrowings of $6,400,000 are in two parts, $3,200,000 on a 5 year term loan due for repayment on 30 July 2004. Interest on this loan is fixed for a 2 year period expiring 30 July 2001. The current interest rate is 6.56%.

$3,200,000 Multi open current loan limit (MOCL) expires 30 July 2001. Drawings under this limit are for periods between 90 and 180 days. The current balance is repayable on 26 April 2001 at an interest rate of 6.86%. The interest rate on this facility is hedged within the range 5.0% to 7.55% until 30 July 2001. The bank borrowings are not secured.

  1. Finance Lease

The finance lease is secured over the office telephone equipment.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 115


Gazette.govt.nz — PDF NZ Gazette 2001, No 115




✨ LLM interpretation of page content

💰 Notes to the financial statements (continued from previous page)

💰 Finance & Revenue
Financial Statements, Borrowings, Payables, Accruals, Bank Loans, Finance Lease