✨ Financial Statements
28 NOVEMBER 2008 NEW ZEALAND GAZETTE, No. 185 4821
NGC HOLDINGS LIMITED
GAS RETAILING ACTIVITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2008
8. PROVISIONS
| 2008 | 2007 | |
|---|---|---|
| $'000 | $'000 | |
| Balance at the beginning of the year | - | 1,200 |
| Additions: | ||
| Other provisions | 5,926 | - |
| Provision for employee entitlements | 87 | - |
| Reversed to the income statement | - | (1,200) |
| Balance at the end of the year | 6,013 | - |
Other provisions relates to a historic customer billing dispute.
9. COMMITMENTS
There is no capital expenditure committed for and not recorded in these financial statements for the year ended 30 June 2008 (30 June 2007: nil).
Operating lease commitments
| Non cancellable operating lease payments are as follows: | 2008 | 2007 |
|---|---|---|
| $'000 | $'000 | |
| Within one year | 38 | 6 |
| One to five years | 63 | - |
| Beyond five years | - | - |
| Total | 101 | 6 |
The majority of the operating lease commitments relate to premises.
10. PROPERTY, PLANT AND EQUIPMENT
| COST / VALUATION | ACCUMULATED DEPRECIATION | NET BOOK VALUE | |
|---|---|---|---|
| $'000 | $'000 | $'000 | |
| 2008 | |||
| Plant, vehicles and equipment | 790 | (303) | 487 |
| Total | 790 | (303) | 487 |
| COST / VALUATION | ACCUMULATED DEPRECIATION | NET BOOK VALUE | |
|---|---|---|---|
| $'000 | $'000 | $'000 | |
| 2007 | |||
| Plant, vehicles and equipment | 1,281 | (789) | 492 |
| Total | 1,281 | (789) | 492 |
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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, Provisions, Commitments, Property, Plant and Equipment, Gas retailing