New Zealand Gazette – 2002 – No. 170

Page 4277

✨ Financial Statements



5. Deferred Expenditure

$Thousands
2002 2001
Balance as at 1 July 2001 6,369 7,455
Less Amounts Amortised to Expenses (1,086) (1,086)
5,283 6,369

6. Accounts Receivable

$Thousands
2002 2001
Trade Debtors 7,435 4,766
Prepayments and Sundry Receivables 1,155 3,865
8,590 8,631

7. Notional Reserves

NGC’s Gas Transmission Activity is not a company and therefore has no share capital. Notional reserves are determined on the basis that Gas Transmission is fully equity funded by NGC of New Zealand Limited. Notional reserves therefore represent all funding provided to Gas Transmission by the NGC Group.

8. Deferred Income

$Thousands
2002 2001
Balance as at 1 July 2001 - 1,307
Less amount amortised to earnings - (1,307)
- -

Deferred income represents contributions from customers as explained in Note 1(d)(v).

9. Capital Commitments

There were no capital amounts committed and not recorded in these financial statements (2001, $0.93 million).

Operating lease commitments

Non cancellable operating leases are payable as follows $Thousands
2002 2001
Not later than one year 61 74
Between one and two years 55 50
Between two and five years 89 116
Later than five years - -
205 240

10. Contingent Liabilities

There are no contingent liabilities, which would have a material adverse effect on these financial statements (2001, Nil).



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 170


Gazette.govt.nz — PDF NZ Gazette 2002, No 170




✨ LLM interpretation of page content

🏭 NGC – Gas Transmission Activities Notes to the Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
30 June 2002
Financial Statements, Deferred Expenditure, Accounts Receivable, Notional Reserves, Deferred Income, Capital Commitments, Operating Lease Commitments, Contingent Liabilities