New Zealand Gazette – 2005 – No. 151

Page 3708

✨ Financial Statements



3708 NEW ZEALAND GAZETTE, No. 151 31 AUGUST 2005

(Notes to the Consolidated Financial Statements Continued)

Group Parent
2005 2004
$000 $000
  1. Reconciliation of Net Surplus After Taxation with Net Operating Cash Flows

Net Surplus After Taxation | 4,050 | 3,665 | 3,969 | 3,514 |

Plus/(Less) Non Cash Items:
Depreciation | 1,762 | 1,590 | 1,676 | 1,458 |

Plus/(Less) Items Classified as Investing Activities
Loss on Sale of Property, Plant and Equipment | 21 | - | 20 | - |
Gain on Sale of Property, Plant and Equipment | - | - | - | - |
| 21 | - | 20 | - |

Plus/(Less) Movements in Working Capital Items:
(Increase)/Decrease in Receivables | (25) | (75) | (637) | 131 |
(Increase)/Decrease in Inventories | 2 | 10 | - | - |
(Decrease)/Increase in Accounts Payable | 105 | (263) | (171) | (299) |
| 82 | (328) | (808) | (168) |

Net Cash Flows from Operating Activities | 5,915 | 4,927 | 4,857 | 4,804 |

  1. Contingent Liabilities

There are no contingent liabilities as at 31 March 2005 (2004: Nil).

  1. Financial Instruments

Off Balance Sheet Financial Instruments -
The Line Business does not have any off balance sheet financial instruments.

Credit Risk
Credit risk is the risk that a third party will default on its obligation to the Line Business, causing the Line Business to incur a loss.

Financial instruments which potentially subject the Line Business to credit risk principally consist of cash, short-term deposits and accounts receivable. Bank deposits are placed with high credit quality financial institutions. The Line Business performs credit evaluations on all customers requiring credit and generally does not require collateral.

Maximum exposures to credit risk at balance date are:

$000 $000 $000 $000
Current Account 2,295 1,301 58 46
Short Term Deposits 940 515 940 515
Receivables 1,129 1,104 1,169 532
4,364 2,920 2,167 1,093

The above exposures are net of any recognised provision for losses on these financial instruments.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 151


Gazette.govt.nz — PDF NZ Gazette 2005, No 151




✨ LLM interpretation of page content

🏭 Financial Statements for Electricity Invercargill Limited Line Business (continued from previous page)

🏭 Trade, Customs & Industry
25 August 2005
Financial Statements, Electricity, Invercargill, Property, Plant and Equipment, Accounts Payable, Provisions, Commitments, Operating Leases