New Zealand Gazette – 2006 – No. 154

Page 4474

✨ Financial Statements



NGC Gas Retailing Activities

Notes to the Financial Statements

For the Year Ended 30 June 2006

For the purposes of the Gas (Information Disclosure) Regulations 1997

  1. Notional Reserves
$Thousands
2006 2005
Balance as at 1 July 14,894 770
Movement for the period 14,794 14,124
Balance as at 30 June 100 14,894

NGC’s Gas Retailing Activities is not a company and therefore has no share capital. Notional reserves are determined on the basis that NGC Gas Retailing Activities is fully equity funded by the group. Notional reserves therefore represent all funding provided to NGC Gas Retailing Activities by the group. A notional dividend has been paid to the group during the current year.

  1. Accounts Payable and Provisions
$Thousands
2006 2005
Accounts Payable 1,744 3,179
Accrued Expenses 375 42
Provisions 1,200 522
3,319 3,743

The movement in provisions is shown below.

Provisions

$Thousands
2006 2005
Balance as at 1 July 522 5,470
Additional Provision Made 1,200 -
Amounts Utilised - (4,948)
Unused Provision Reversed (522) -
Balance as at 30 June 1,200 522

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 2006, No 154


Gazette.govt.nz — PDF NZ Gazette 2006, No 154




✨ LLM interpretation of page content

💰 Certification of NGC Gas Retailing Financial Statements (continued from previous page)

💰 Finance & Revenue
9 November 2006
Financial Statements, Gas Retailing, Income Tax, Deferred Tax, Property, Plant and Equipment, Accounts Receivable, NGC Holdings Limited