New Zealand Gazette – 2002 – No. 91

Page 2477

✨ Financial Statements



2 AUGUST NEW ZEALAND GAZETTE 2477

8. Commitments

31 March 2002 31 March 2001
$000 $000
GIS Mapping System - 2
- 2

Operating Lease Commitments:

Operating Lease Commitments are payable as follows:

  • No later than one year | 35 | 34 |
  • Later than one year and not later than two years | 3 | 21 |
  • Later than two years and not later than five years | 3 | 5 |

| Total Operating Lease Commitments | 41 | 60 |
| Total Commitments | 41 | 62 |

9. Reconciliation of Net Surplus After Taxation with Net Operating Cash Flows

31 March 2002 31 March 2001
$000 $000
Net Surplus After Taxation 3,195 2,836

Plus/(Less) Non Cash Items:

| Depreciation | 1,694 | 1,375 |

Plus/(Less) Items Classified as Investing Activities

| Loss on Sale of Property, Plant and Equipment | 4 | 168 |
| Gain on Sale of Property, Plant and Equipment | - | - |

| | 4 | 168 |

Plus/(Less) Movements in Working Capital Items:

| (Increase)/Decrease in Receivables | (948) | 59 |
| (Increase)/Decrease in Stock and Work in Progress | (66) | 8 |
| (Decrease)/Increase in Accounts Payable | 699 | (443) |
| (Decrease)/Increase in Other Current Liabilities | 30 | - |
| (Decrease)/Increase in Provision for Taxation | 142 | - |

| | (143) | (376) |

| Net Cash Flows from Operating Activities | 4,750 | 4,003 |

10. Contingent Liabilities

There are no contingent liabilities as at 31 March 2002 (2001: $442,000).

11. Financial Instruments

Interest Rate Risk

The Company is subject to normal fluctuations in interest rates.

Credit Risk

Financial instruments which potentially subject the Company to a credit risk consist principally of bank deposits and receivables. Bank deposits are placed with high credit quality financial institutions. Concentrations of credit risk with respect to receivables relate to PowerNet Limited but are subject to normal terms of trade. Regular monitoring of receivables is undertaken.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 91


Gazette.govt.nz — PDF NZ Gazette 2002, No 91




✨ LLM interpretation of page content

🌾 Electricity Information Disclosure for Invercargill Limited (continued from previous page)

🌾 Primary Industries & Resources
Electricity, Financial Statements, Commitments, Operating Lease, Reconciliation, Contingent Liabilities, Financial Instruments