✨ Financial Statements
2412
NEW ZEALAND GAZETTE, No. 101
1 JULY 2005
WAIPA NETWORKS LIMITED - LINES BUSINESS
| 2005 $ | 2004 $ |
|---|
10 TERM LIABILITIES
Inter-business Loan - Other Business (9.95%) 8,000,000 8,000,000
Maturing within 1 year.
This debt will mature during the next 12 months and will routinely renewed on maturity date.
11 FINANCIAL INSTRUMENTS
Credit Risk
In the normal course of it's business, Waipa Networks incurs credit risk from trade receivables from customers. Waipa Networks largest customer accounts for 55% (2004 61%) of total sales and 80% (2004 83%) of trade receivables at balance date for which a bank performance bond is held. There are no other significant concentrations of credit risk and Waipa Networks generally does not require any collateral.
Waipa Networks places its cash and short term deposits with high credit quality financial institutions with a recognised credit rating of A- or better and limits the amount of credit exposure to any one institution, as set forth by the Board of Directors. While the company may be subject to credit losses up to the contract amounts in the event of non-performance by other parties, it does not expect such losses to occur.
Currency Risk
Waipa Networks has no exposure to currency risk.
Interest Rate Risk
Waipa Networks has no significant exposure to interest rate risk as its term loan has fixed interest rates. The interest rate on the term loan is disclosed in note 10.
Fair Value
The estimated fair value of Waipa Networks financial instruments at 31 March 2005 are stated in the Statement of Financial Position.
12 CONTINGENT LIABILITIES AND CAPITAL COMMITMENTS
There are no contingent liabilities as at 31 March 2005 (2004 Nil);
There are no commitments for future capital expenditure as at 31 March 2005 (2004 Nil).
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 101
Gazette.govt.nz —
NZ Gazette 2005, No 101
✨ LLM interpretation of page content
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Notes to and forming part of the Financial Statements for Waipa Networks Limited
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial statements, Liabilities, Credit Risk, Currency Risk, Interest Rate Risk, Fair Value, Contingent Liabilities, Capital Commitments, Waipa Networks Limited