✨ Financial Statements Notes
NGC HOLDINGS LIMITED
GAS RETAILING ACTIVITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2008
4. DEFERRED TAX (continued)
| PROPERTY, PLANT AND EQUIPMENT | PROVISIONS AND ACCRUALS | TOTAL | |
|---|---|---|---|
| $000 | $000 | $000 | |
| 2007 | |||
| Balance at the beginning | |||
| of the year | (11) | 533 | 522 |
| Amounts recognised in | |||
| the income statement: | |||
| Relating to current | |||
| period | (45) | (461) | (506) |
| Balance at the end of | |||
| the year | (56) | 72 | 16 |
| Deferred tax assets | - | 72 | 72 |
| Deferred tax liabilities | (56) | - | (56) |
| Net deferred tax | |||
| (liability) / asset | (56) | 72 | 16 |
5. NOTIONAL RESERVES
| 2008 | 2007 | |
|---|---|---|
| $000 | $000 | |
| Balance at the beginning | ||
| of the year | 100 | 100 |
| Net surplus for the year | 7,094 | 15,338 |
| Notional dividend | ||
| declared | (7,094) | (15,338) |
| Balance at the end of | ||
| the year | 100 | 100 |
The gas retailing activities is not a company and therefore has no share capital. A provision has been made for a notional dividend of $7.1 million (30 June 2007: $15.3 million) payable for the current year.
6. TRADE RECEIVABLES
| 2008 | 2007 | |
|---|---|---|
| $000 | $000 | |
| Current | ||
| Trade receivables | 30,990 | 36,472 |
| Total | 30,990 | 36,472 |
7. PAYABLES AND ACCRUALS
| 2008 | 2007 | |
|---|---|---|
| $000 | $000 | |
| Current | ||
| Trade payables – gas | ||
| wholesaling activities | ||
| (related party) | 9,295 | 11,817 |
| Other trade payables | ||
| and creditors | 333 | 387 |
| Total | 9,628 | 12,204 |
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NZ Gazette 2008, No 185
✨ LLM interpretation of page content
🏭
NGC Holdings Limited Balance Sheet for Gas Retailing Activities
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial statements, Deferred tax, Notional reserves, Trade receivables, Payables and accruals, Gas retailing