✨ Financial Statements
18 JANUARY 2005 NEW ZEALAND GAZETTE, No. 12 259
Scanpower Limited
Notes to the Financial Statements Continued
For the Year Ended 31 March 2004
Note 4. Receivables and Prepayments
| 2004 | |
|---|---|
| $'000 | |
| Trading debtors | 437 |
| Estimated doubtful receivables | 0 |
| GST clearing account | 0 |
| Miscellaneous prepayments | 10 |
| Accruals | — |
| Total | 447 |
| 2003 | |
|---|---|
| $'000 | |
| Trading debtors | 419 |
| Estimated doubtful receivables | 0 |
| GST clearing account | 59 |
| Miscellaneous prepayments | 8 |
| Accruals | — |
| Total | 486 |
The Company incurs credit risk from transactions with trade receivables and financial institutions in the normal course of business. The Company has a credit policy which restricts exposure to trade receivables and the Board of Directors reviews exposure to trade receivables on a regular basis.
Where there is a significant concentration of credit risk, the exposure is minimised by provisions in use of system agreements between the parties. Amounts owed by trade receivables are unsecured.
Note 5. Inventories
| 2004 | |
|---|---|
| $'000 | |
| Network stocks | 90 |
| Total | 90 |
| 2003 | |
|---|---|
| $'000 | |
| Network stocks | 104 |
| Total | 104 |
Certain inventories are subject to restriction of title, including Romalpa Clauses.
Note 6. (i) Current Investments
| 2004 | |
|---|---|
| $'000 | |
| Short term deposits held with registered banks | 929 |
| Total | 929 |
| 2003 | |
|---|---|
| $'000 | |
| Short term deposits held with registered banks | 0 |
| Total | 0 |
Market fluctuations in interest rates affect the earnings on these investments and the company policy of placing deposits with high credit quality institutions minimises potential credit risk.
Note 6. (ii) Interest Rates
The range of interest rates obtained on investments was as follows:
| 2004 | 2003 | |
|---|---|---|
| Short term bank investments | 5.0 - 5.78% | 3.10 - 5.83% |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 12
Gazette.govt.nz —
NZ Gazette 2005, No 12
✨ LLM interpretation of page content
💰
Statement of Significant Accounting Policies for Scanpower Limited
(continued from previous page)
💰 Finance & RevenueAccounting Policies, Financial Statements, Depreciation, Employee Entitlements, Financial Instruments, Cash Flows, Accounting Changes
💰 Notes to the Financial Statements for Scanpower Limited
💰 Finance & RevenueFinancial Statements, Receivables, Prepayments, Inventories, Investments, Interest Rates