New Zealand Gazette – 2005 – No. 149

Page 3649

✨ Financial Statements



31 AUGUST 2005

NEW ZEALAND GAZETTE, No. 149

3649

Notes to the financial statements (continued)

For the year ended 31 March 2005

| | 2005
$'000 | 2004
$'000 |
|----------------|-----------|-----------|
| 10 Receivables | | |
| Trade Debtors | 2,303 | 1,895 |
| Other receivables | 135 | 271 |
| Income Tax refundable | - | 407 |
| Total Receivables | 2,438 | 2,573 |

11 Creditors and Borrowings

Current

| | 2005
$'000 | 2004
$'000 |
|----------------|-----------|-----------|
| Trade Creditors | 3,209 | 1,992 |
| Interest payable | 323 | 268 |
| Income Tax payable | 144 | - |
| Employee provisions | 263 | 229 |
| Total Current | 3,939 | 2,489 |

Non Current

| | 2005
$'000 | 2004
$'000 |
|----------------|-----------|-----------|
| Bank loans unsecured | 33,800 | 30,150 |

12 Bank Loans

The Company has a credit line with ASB Bank for $40 million. This credit line is unsecured, but subject to a Deed of Negative Pledge. $800,000 of this facility is utilised by the "Non Lines" business (2004 $800,000). The facility is initially for a period of 5 years from 28 July 2001. Borrowings are rolled over on either 3 monthly or on a call basis. The Company has a policy of hedging interest rates and currently has interest rate cover of $33 million for various periods up to 5 years.

Average rate of fixed Rate cover at 31 March 2005 is 6.54%.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 149


Gazette.govt.nz — PDF NZ Gazette 2005, No 149




✨ LLM interpretation of page content

🏭 Eastland Network Limited Financial Certification (continued from previous page)

🏭 Trade, Customs & Industry
26 August 2005
Financial Statements, Fixed Assets, Valuation, Capitalised Interest, Receivables, Creditors, Bank Loans