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New Zealand Gazette – 2001 – No. 129

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✨ Financial Statements Notes

21 SEPTEMBER NEW ZEALAND GAZETTE 3311

NOTES TO THE FINANCIAL STATEMENTS

Note 3: Retained Earnings & Reserves (continued)

Reserves
Share premium reserve 0 0
Asset revaluation reserve 28 28
Balance at end of the year 28 28

An adjustment was also made through equity in 2000 to account for the movements using the avoidable cost methodology.

Note 4: Receivables and prepayments

Trading debtors 169 443
Estimated doubtful receivables 0 0
GST clearing account 57 16
Miscellaneous prepayments 22 18
Accruals 0 0
248 477

The Company incurs credit risk from transactions with trade receivables and financial institutions in the normal course of its business.

The Company has a credit policy which restricts the exposure to individual trade receivables and the Board of Directors reviews exposure to trade receivables on a regular basis. Where there is a significant concentration of credit risk, the exposure is minimised by provisions in use of systems agreements between the parties. Amounts owed by trade receivables are unsecured.

Note 5: Inventories

Network stocks 101 92
101 92

Note 6: Investments

(I) CURRENT
Short term deposits held with registered banks 595 110
595 110

Market fluctuations in interest rates affect the earnings on these investments but company policy of placing deposits with high credit quality financial institutions minimises its credit exposure.

(II) NON CURRENT
Unlisted securities 0 0
Listed securities 0 0
0 0

(III) FAIR AND MARKET VALUE INFORMATION
Listed securities 0 0

The market value is based on prices quoted on the stock exchange at balance date.

The fair values of the other investments are not materially different from their carrying amounts.

(III) INTEREST RATES
The range of interest rates on investments were:

Short term bank investments 6.25 - 6.61% 0.50 - 5.45%

Note 7: Accounts Payable

GST clearing account 0 0
Trade creditors 317 288
Other creditors & accruals 131 37
448 325

VUW Te Waharoa — NZ Gazette 2001, No 129

Gazette.govt.nz — NZ Gazette 2001, No 129

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✨ LLM interpretation of page content

🏭 Scanpower Limited Financial Statements for Lines Business (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Retained Earnings, Receivables, Prepayments, Inventories, Investments, Accounts Payable

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