New Zealand Gazette – 2001 – No. 165

Page 4038

✨ Financial Statements



4038 NEW ZEALAND GAZETTE No. 165

5. Deferred Expenditure

$ Thousands
2001 2000
Balance as at 1 July 1,118
Plus amount capitalised 59
Less amounts amortised to expenses (216) (216)
902 1,118

6. Notional Reserves

Gas Retailing is not a company and therefore has no share capital. Notional Reserves are determined on the basis that Gas Retailing is fully equity funded by Natural Gas Corporation of New Zealand Limited. Notional Reserves therefore represent all funding provided to Gas Retailing by the Natural Gas Corporation Group.

7. Capital Commitments

Amounts committed but not recorded in these financial statements total $Nil (2000: $Nil).

Operating Lease Commitments

Non cancelable operating lease rentals are payable as follows: $ Thousands
2001 2000
Not later than one year 321 402
Between one and two years 81 7
Between two and five years 7 -
Later than five years - -
409 409

8. Contingent Liabilities

There are no material contingent liabilities, which would have a material adverse effect on these financial statements.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 165


Gazette.govt.nz — PDF NZ Gazette 2001, No 165




✨ LLM interpretation of page content

🏭 Natural Gas Corporation Financial Statements Notes (continued from previous page)

🏭 Trade, Customs & Industry
23 November 2001
Financial Statements, Deferred Expenditure, Notional Reserves, Capital Commitments, Operating Lease Commitments, Contingent Liabilities, Natural Gas Corporation