New Zealand Gazette – 2006 – No. 154

Page 4487

✨ Financial Statements



28 NOVEMBER 2006
NEW ZEALAND GAZETTE, No. 154
4487

NGC Gas Wholesaling Activities
Notes to the Financial Statements
For the Year Ended 30 June 2006

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

  1. Accounts Payable and Provisions
$Thousands
2006 2005
Accrued Expenses 9,824 10,158
Provisions - 1,200
9,824 11,358

The movement in provisions is shown below.

Provisions

$Thousands
2006 2005
Balance as at 1 July 1,200 1,200
Additional Provision Made - -
Amounts Utilised - -
Unused Provision Reversed (1,200) -
Balance as at 30 June - 1,200
  1. Financial Instruments

Interest Rate Risk

Interest rate risk is managed in accordance with the group treasury policy.

Credit Risk

Financial instruments which are potentially subject to credit risk consist principally of cash deposits and trade debtors.

Cash deposits are with a small number of banking institutions and the amounts deposited with each institution is limited. The credit limits are set in accordance with the group treasury policy.

Credit evaluations are completed on customers where necessary and a bond required when customers cannot demonstrate an adequate credit history.

There is no significant concentration of credit risk.



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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 Wholesaling Financial Statements (continued from previous page)

💰 Finance & Revenue
9 November 2006
Financial Statements, Gas Wholesaling, Accounts Payable, Provisions, Interest Rate Risk, Credit Risk