New Zealand Gazette – 2006 – No. 148

Page 4284

✨ Financial Statements



4284 NEW ZEALAND GAZETTE, No. 148 24 NOVEMBER 2006

(Notes to the Consolidated Financial Statements Continued)

Group Parent
2006 2005 2006 2005
$000 $000 $000 $000
  1. Reconciliation of Net Surplus After Taxation with Net Operating Cash Flows

Net Surplus After Taxation | 3,841 | 4,050 | 3,697 | 3,969 |

Plus/(Less) Non Cash Items:
Depreciation | 1,779 | 1,762 | 1,707 | 1,676 |
| | | | |
Plus/(Less) Items Classified as Investing Activities
Loss on Sale of Property, Plant and Equipment | 22 | 21 | 21 | 20 |
Gain on Sale of Property, Plant and Equipment | - | - | - | - |
| | | | |
Plus/(Less) Movements in Working Capital Items:
(Increase)/Decrease in Receivables | (192) | (25) | 395 | (637) |
(Increase)/Decrease in Inventories | (2) | 2 | - | - |
(Decrease)/Increase in Accounts Payable | 101 | 105 | 49 | (171) |
| (93) | 82 | 444 | (808) |

Net Cash Flows from Operating Activities | 5,549 | 5,915 | 5,869 | 4,857 |

  1. Contingent Liabilities

There are no contingent liabilities as at 31 March 2006 (2005: 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:

Group 2006 Group 2005 Parent 2006 Parent 2005
Current Account 1,968 2,295 - 58
Short Term Deposits 410 940 410 940
Receivables 1,321 1,129 774 1,169
Total 3,699 4,364 1,184 2,167

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 2006, No 148


Gazette.govt.nz — PDF NZ Gazette 2006, No 148




✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
20 November 2006
Electricity, Financial Statements, Property, Plant, Equipment, Accounts Payable, Provisions, Commitments, Operating Lease