New Zealand Gazette – 2006 – No. 156

Page 4557

✨ Financial Notes



29 NOVEMBER 2006 NEW ZEALAND GAZETTE, No. 156 4557

Note 6 : Reconciliation of Net Surplus from Operating Activities

2006 2005
$000 $000
Net profit after tax 21,294 8,460
Items not involving cashflows depreciation 9,620 9,643
Impact of changes in working capital items
(increase)/decrease in accounts receivable (317) 135
(increase)/decrease in inventories - -
(increase)/decrease in tax refund (382) (114)
increase/(decrease) in taxation payable - -
increase/(decrease) in accounts payable 1,394 1,637
(increase)/decrease in term liabilities - -
gain on sale of assets (5,395) 5,800
capital creditors included in accounts payable (1,747) (1,605)
Net cash inflows/(outflows) from operating activities 24,467 23,956

Note 7 : Commitments

As 31 March 2006, capital expenditure contracted for was $4,282,918 (2005 : $900,079).

Note 8 : Contingent Liabilities

There were no contingent liabilities as at 31 March 2006 (2005 : 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 — PDF NZ Gazette 2006, No 156


Gazette.govt.nz — PDF NZ Gazette 2006, No 156




✨ LLM interpretation of page content

🏭 Financial Statements Notes (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Net Surplus, Cashflows, Commitments, Contingent Liabilities, Financial Instruments, Credit Risk, Collateral, Credit Control