✨ Financial Statements
536 NEW ZEALAND GAZETTE, No. 24 15 FEBRUARY 2008
WAIPA NETWORKS LIMITED - LINES BUSINESS
| 2007 | 2006 | |
|---|---|---|
| $ | $ |
10 TERM LIABILITIES
Inter-business Loan - Other Business (9.25%)
9,800,000
Repayable between 2 and 5 years.
9,000,000
11 FINANCIAL INSTRUMENTS
Credit Risk
In the normal course of its business, Waipa Networks incurs credit risk from trade receivables from customers. Waipa Networks largest customer accounts for 52% (2006 52%) of total sales and 82% (2006 92%) of trade receivables at balance date for which a bank performance bond is held. There are no other significant concentrations of credit risk and Waipa Networks generally does not require any collateral.
Waipa Networks places its cash and short term deposits with high credit quality financial institutions with a recognised credit rating of A- or better and limits the amount of credit exposure to any one institution, as set forth by the Board of Directors. While the company may be subject to credit losses up to the contract amounts in the event of non-performance by other parties, it does not expect such losses to occur.
Currency Risk
Waipa Networks has no exposure to currency risk.
Interest Rate Risk
Waipa Networks has no significant exposure to interest rate risk as its term loan has fixed interest rates. The interest rate on the term loan is disclosed in note 10.
Fair Value
The estimated fair value of Waipa Networks financial instruments at 31 March 2007 are stated in the Statement of Financial Position.
12 CONTINGENT LIABILITIES AND CAPITAL COMMITMENTS
There are no contingent liabilities as at 31 March 2007 (2006 Nil);
There are no commitments for future capital expenditure as at 31 March 2007 (2006 Nil).
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 24
Gazette.govt.nz —
NZ Gazette 2008, No 24
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Notes to Financial Statements for Waipa Networks Limited
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🏭 Trade, Customs & IndustryFinancial statements, Term liabilities, Financial instruments, Credit risk, Currency risk, Interest rate risk, Fair value, Contingent liabilities, Capital commitments, Waipa Networks Limited