New Zealand Gazette – 2005 – No. 199

Page 5047

✨ Financial Statements



30 NOVEMBER 2005
NEW ZEALAND GAZETTE, No. 199
5047

  1. Notional Reserves

$Thousands

Notional Reserves 2005 2004
Balance as at 1 July 56,159 79,546
Movement for the period (37,524) (23,387)
Balance as at 30 June 18,635 56,159

NGC’s Gas Wholesaling Activities is not a company and therefore has no share capital. Notional reserves are determined on the basis that NGC Gas Wholesaling Activities is fully equity funded by the NGC Group. Notional reserves therefore represent all funding provided to NGC Gas Wholesaling Activities by the NGC Group.

  1. Gas Advance

Contact has delivered 2.5 PJ of gas (sourced from Maui) under a swap arrangement to NGC during the year ended 30 June 2005. In return, NGC expects to return the same amount of gas back to Contact in the period from 1 July 2006 to 30 September 2007.

  1. Accounts Payable and Provisions

$Thousands

Accrued Expenses 2005 2004
Provisions 1,200 1,200
11,358 3,313

The movement in provisions is shown below.

Provisions

$Thousands

Balance as at 1 July 2005 2004
Additional Provision Made - 1,200
Amounts Utilised - -
Unused Provision Reversed - -
Balance as at 30 June 1,200 1,200

This balance includes provisions for various commercial matters expected to be settled in periods from now to two years, but could require settlement at any time.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 199


Gazette.govt.nz — PDF NZ Gazette 2005, No 199




✨ LLM interpretation of page content

💰 Accounts Receivable Summary (continued from previous page)

💰 Finance & Revenue
Accounts Receivable, Trade Debtors, Prepayments, Maui Development Limited

💰 Notional Reserves

💰 Finance & Revenue
Notional Reserves, Balance, Movement, NGC Gas Wholesaling Activities

💰 Gas Advance

💰 Finance & Revenue
Gas Advance, Swap Arrangement, Contact, NGC, Maui

💰 Accounts Payable and Provisions

💰 Finance & Revenue
Accounts Payable, Provisions, Accrued Expenses, Commercial Matters