New Zealand Gazette – 2004 – No. 157

Page 3895

✨ Financial Statements



30 NOVEMBER 2004 NEW ZEALAND GAZETTE, No. 157 3895

  1. Accounts Receivable
$Thousands
2004
Trade Debtors 2,233
Prepayments and Sundry Receivables -

Accounts Receivable | 2,233 | 5,903 |

  1. Notional Reserves

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

  1. Accounts Payable and Accruals
$Thousands
2004
Accounts Payable and Accrued Expenses 2,113

Accounts Payable and Accruals | 2,113 | 1,233 |

  1. Financial Instruments

Interest Rate Risk - not subject to this risk as there are no interest bearing assets or liabilities.

Financial instruments potentially subject to credit risk are cash deposits and trade debtors. Cash deposits are placed with a small number of trading banks and the amount deposited per bank is limited. The Board of Directors approves the counter parties and the credit limits. NGC completes credit evaluations on customers where possible and requires a bond to be paid when customers cannot demonstrate an adequate credit history. There are no significant concentrations of credit risk.

Transactions denominated in foreign currencies are undertaken from time to time and resulting from these activities exposures in foreign currencies arise. These exposures are managed by other NGC Group companies.

Cash at bank, other investments, trade creditors and amounts due to subsidiaries - the carrying value of these items is equivalent to their fair value.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 157


Gazette.govt.nz — PDF NZ Gazette 2004, No 157




✨ LLM interpretation of page content

🏭 Certification of NGC Gas Transmission Performance Measures (continued from previous page)

🏭 Trade, Customs & Industry
26 November 2004
Gas Entitlements, Maui Gas, Kapuni Gas, Advance Paid and Prepaid Gas Entitlements, Gas Contracts, Gas Delivery, Liquidated Damages, Energy Resource Levy, Market Price

🏭 Accounts Receivable for Gas Wholesaling

🏭 Trade, Customs & Industry
Trade Debtors, Prepayments, Sundry Receivables

🏭 Notional Reserves for Gas Wholesaling

🏭 Trade, Customs & Industry
Equity Funding, NGC Group

🏭 Accounts Payable and Accruals for Gas Wholesaling

🏭 Trade, Customs & Industry
Accounts Payable, Accrued Expenses

🏭 Financial Instruments for Gas Wholesaling

🏭 Trade, Customs & Industry
Interest Rate Risk, Credit Risk, Cash Deposits, Trade Debtors, Foreign Currency Exposures