✨ Financial Statements Notes
23 AUGUST 2005 NEW ZEALAND GAZETTE, No. 137 3327
NELSON ELECTRICITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
for the year to 31 March 2005
Interest Rate risk
Interest rate risk is the risk that interest rates will change, increasing or decreasing the cost of borrowing or lending. The company’s short term deposits are at fixed interest rates and mature within one year. The company has the opportunity to vary interest rates on its non current borrowings on such terms as it selects. The interest rate applying to the company’s current borrowings is disclosed in note 9.
Currency Risk
The company has no present exposure to risks arising from movement in exchange rates. (2004, Nil)
12. Commitments and Contingent Liabilities
As at 31 March 2004 the company had no commitments or contingent liabilities that are not included in these financial statements. (2004, Nil)
The estimated costs to complete the projects included in work in progress as at 31 March 2005 total $197,161. (2004, $486,079)
13. Events Subsequent to Balance Date
There were no events subsequent to balance date requiring notification in these financial statements.
Schedule 1 Part 8
Annual Valuation Reconciliation Report for Year ending 31 March 2005
| 31-Mar-05 | 31-Mar-04 | |
|---|---|---|
| $'000 | $'000 | |
| System Fixed Assets at ODV at | ||
| 31 March 2004 | 19,393 | 13,531 |
| Add | ||
| System Fixed Assets Acquired | ||
| During the Year at ODV | 883 | 443 |
| Less | ||
| System Fixed Assets Disposed | ||
| of During the Year At ODV | (86) | (50) |
| Less | ||
| Depreciation on System Fixed | ||
| Assets | (668) | (720) |
| Add | ||
| Revaluations of System Fixed | ||
| Assets | 0 | 6,189 |
| Equals | ||
| System Fixed Assets at ODV at | ||
| 31 March 2005 | 19,522 | 19,393 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 137
Gazette.govt.nz —
NZ Gazette 2005, No 137
✨ LLM interpretation of page content
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Nelson Electricity Limited Notes to the Financial Statements
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Interest Rate Risk, Currency Risk, Commitments, Contingent Liabilities, Events Subsequent to Balance Date, Valuation Reconciliation Report