✨ Financial Statements and Notes
122
NEW ZEALAND GAZETTE, No. 5
14 JANUARY 2005
Note 6 : Reconciliation of Net Surplus from Operating Activities
Net profit after tax 5,517 4,758
Items not involving cashflows depreciation 9,735 8,842
Impact of changes in working capital items
(increase)/decrease in accounts receivable 1,447 (1,670)
(increase)/decrease in inventories - -
(increase)/decrease in tax refund (612) 353
increase/(decrease) in taxation payable 79 -
increase/(decrease) in accounts payable - 1,143
increase/(decrease) in term liabilities - -
gain on sale of assets 5,974 4,996
increase/(decrease) in deferred tax liability - -
capital creditors included in accounts payable 160 (946)
Net cash inflows/(outflows) from operating activities 22,300 17,476
Note 7 : Commitments
As 31 March 2004, capital expenditure contracted for was $2,197,642 (2003 : $5,161,059).
Note 8 : Contingent Liabilities
There were no contingent liabilities as at 31 March 2004 (2003 : nil).
Note 9 : Financial Instruments
Financial instruments which potentially subject the Lines Business to credit risk principally consist of cash and accounts receivable.
Credit Risk
Contracts have been entered into with various counter-parties having such credit ratings and in accordance with dollar limits as set by the board of directors.
Collateral
The Lines Business does not generally require collateral or other security to support service contracts. While the Lines Business may be subject to credit losses up to the notional value of the services or goods supplied in the event of non-performance by counter-parties, it does not expect such losses to occur.
Concentration of Credit Risk
Financial instruments which potentially subject the Lines Business to concentrations of credit risk principally consist of cash and accounts receivable.
The Lines Business places its cash and short-term investments with high credit quality financial institutions and sovereign bodies and limits the amount of credit exposure to any one financial institution.
The Lines Business has several large customers for which no collateral is required. These debtors are subject to normal on-going credit control procedures.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 5
Gazette.govt.nz —
NZ Gazette 2005, No 5
✨ LLM interpretation of page content
💰 Reconciliation of Net Surplus from Operating Activities
💰 Finance & RevenueNet Surplus, Operating Activities, Cashflows, Depreciation, Working Capital
💰 Commitments
💰 Finance & RevenueCapital Expenditure, Commitments
💰 Contingent Liabilities
💰 Finance & RevenueContingent Liabilities
💰 Financial Instruments
💰 Finance & RevenueFinancial Instruments, Credit Risk, Collateral, Concentration of Credit Risk