✨ Financial Statements Notes
NGC Gas Transmission Activities
Notes to the Financial Statements
For the Year Ended 30 June 2006
For the purposes of the Gas (Information Disclosure) Regulations 1997
- Accounts Payable and Provisions (Continued)
The movement in provisions is shown below.
Provisions
| $Thousands | ||
|---|---|---|
| 2006 | 2005 | |
| Balance as at 1 July | 960 | 850 |
| Additional Provisions Made | 6,513 | 210 |
| Amounts Utilised | (582) | (100) |
| Balance as at 30 June | 6,891 | 960 |
This balance includes provisions for various commercial matters expected to be settled in the following year.
- Notional Borrowings
| 2006 | Weighted average interest rates | Total $000 | Payable within 1 year $000 | Payable between 1 and 2 years $000 | Payable between 2 and 5 years $000 | Payable after 5 years $000 |
|---|---|---|---|---|---|---|
| Loans | 7.60% | 231,633 | - | 231,633 | - | - |
| 2005 | Weighted average interest rates | Total $000 | Payable within 1 year $000 | Payable between 1 and 2 years $000 | Payable between 2 and 5 years $000 | Payable after 5 years $000 |
|---|---|---|---|---|---|---|
| Loans | - | - | - | - | - | - |
- Notional Reserves
Notional reserves is determined for the current year by adjusting notionally debt and equity balances such that the debt to equity ratio is maintained the same as the Vector group. For the comparative year notional reserves were determined on the basis that NGC Gas Transmission was fully equity funded by the NGC group. Notional reserves therefore in the comparative year represent all funding provided to NGC Gas Transmission Activities by the NGC group.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 154
Gazette.govt.nz —
NZ Gazette 2006, No 154
✨ LLM interpretation of page content
💰
Certification of NGC Gas Transmission Financial Statements
(continued from previous page)
💰 Finance & Revenue28 November 2006
Financial Statements, Gas Transmission, Certification, Gas (Information Disclosure) Regulations 1997