New Zealand Gazette – 2005 – No. 16

Page 366

✨ Financial Statements and Commitments



366

NEW ZEALAND GAZETTE, No. 16

18 JANUARY 2005

  1. Reconciliation of Net Surplus After Taxation with Cashflow from Operating Activities

31 March 2004 31 March 2003
$'000 $'000
Net Surplus After Tax 1,788 492

Add Non Cash Items

| Depreciation and Loss on Sale | 7,932 | 7,533 |
| Movement in Deferred Tax | - | - |
| | 9,720 | 8,025 |

Plus/(Less) Movement in Working Capital Items:

| (Increase)/Decrease in Accounts Receivable | (946) | 27 |
| Increase in Prepayments | 55 | (14) |
| (Increase)/Decrease in Stock | 20 | 232 |
| Increase/(Decrease) in Provision for Tax | 283 | (283) |
| Increase/(Decrease) in Accounts Payable and Provisions | (1,030) | (257) |

| Net Cash From Operating Activities | 8,102 | 7,730 |

  1. Commitments

Operating Lease Commitments:

Operating Lease Commitments are payable as follows:

  • Not Later than one year | 100 | 80 |
  • Later than one year and not later than two years | 49 | 37 |
  • Later than two years and no later than five years | 65 | 86 |
  • Later than five years | - | - |

  1. Financial Instruments

Off Balance Sheet Financial Instruments

The Line Business does not have any off balance sheet financial instruments, with the exception of interest rate swaps.

Credit Risk

Financial instruments which potentially subject the Line Business to credit use principally consist of bank balances 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:

| Receivables | 2,471 | 1,525 |
| | 2,471 | 1,525 |

The above exposures are net of any recognised provision for losses on these financial instruments. No collateral is held on the above amounts.

Concentrations of Credit Risk

The Line Business is exposed to a Concentration of Credit Risk by one significant energy retailer. This entity is considered to be a high credit quality entity.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 16


Gazette.govt.nz — PDF NZ Gazette 2005, No 16




✨ LLM interpretation of page content

🏭 Financial Statements for The Power Company Limited Line Business (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Reconciliation, Net Surplus, Cashflow, Operating Activities

🏭 Commitments for Operating Lease

🏭 Trade, Customs & Industry
Operating Lease Commitments, Financial Commitments

🏭 Financial Instruments and Credit Risk

🏭 Trade, Customs & Industry
Financial Instruments, Credit Risk, Bank Balances, Accounts Receivable