New Zealand Gazette – 2003 – No. 110

Page 2909

✨ Financial Statements

10. Receivables and prepayments

	2003 $\ '000$	2002 $\ '000$
Trade debtors	1,786	1,874
GST refund due	411	598
Prepayments	26	2
	2,223	2,474
Less provision for doubtful debts	10	30
	$2,213	$2,444

11. Financial instruments

Credit risk

Financial assets which potentially subject the company to credit risk principally consist of bank balances and accounts receivable.

The company manages its principle credit risk by having Use of System Agreements with its major customers to maintain a minimum credit rating of BBB or better.

Maximum exposures to credit risk as at balance date are:

	2003 $\ '000$	2002 $\ '000$
Bank balances	1,229	353
Receivables	2,213	2,444

The above maximum exposures are net of any recognised provision for losses on these financial assets. Bank balances and investments in short term deposits are made with registered banks with satisfactory credit ratings.

Concentrations of credit risk

The company has exposures to concentrations of credit risk by having five line customers. This is managed as mentioned above through the Use of System Agreements.

Currency risk

The company has no material exposure to foreign exchange risk.

VUW Te Waharoa — NZ Gazette 2003, No 110

Gazette.govt.nz — NZ Gazette 2003, No 110

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✨ LLM interpretation of page content

💰 Electra Limited Financial Statement (continued from previous page)

Domain💰 Finance & Revenue
Dated25 July 2003
KeywordsReceivables, Prepayments, GST, Credit Risk, Financial Instruments

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