New Zealand Gazette – 2008 – No. 43

Page 1252

✨ Financial Statements



1252 NEW ZEALAND GAZETTE, No. 43 29 FEBRUARY 2008

Group Parent
2007 2006 2007 2006
$000 $000 $000 $000
  1. Reconciliation of Net Surplus After Taxation with Cashflow from Operating Activities

Net Surplus After Tax | 2,049 | 1,329 | 2,333 | 1,286

Add Non Cash Items
Depreciation | 9,839 | 9,745 | 9,646 | 9,485
Loss on Sale | 351 | 239 | 351 | 238
| 12,239 | 11,313 | 12,330 | 11,009

Plus/(Less) Movement in Working Capital Items:
(Increase)/Decrease in Accounts Receivable | 1,021 | (520) | 158 | (679)
(Increase)/Decrease in Prepayments | (13) | (9) | (4) | (16)
(Increase)/Decrease in Stock | (9) | (4) | - | -
Increase/(Decrease) in Provision for Tax | - | - | - | -
Increase/(Decrease) in Accounts Payable and Provisions | 96 | 27 | (334) | 130

Net Cash From Operating Activities | 13,334 | 10,807 | 12,150 | 10,444

  1. Commitments

Operating Lease Commitments:

Operating Lease Commitments are payable as follows:

  • Not Later than one year | 77 | 59 | - | -
  • Later than one year and not later than two years | 37 | 29 | - | -
  • Later than two years and no later than five years | 31 | 24 | - | -
  • Later than five years | - | - | - | -
  1. Financial Instruments

Off Balance Sheet Financial Instruments
The Line Business does not have any off balance sheet financial instruments.

Credit Risk
Financial instruments which potentially subject the Line Business to credit use principally consist of bank balances and accounts receivable. Bank deposits are placed with high credit - quality financial institutions. The Line Business performs credit evaluations on all customers requiring credit and generally does not require collateral.

Maximum exposures to credit risk at balance date are:

Trade Debtors | 2,028 | 3,050 | 1,170 | 1,243
| 2,028 | 3,050 | 1,170 | 1,243

The above exposures are net of any recognised provision for losses on these financial instruments.

No collateral is held on the above amounts.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2008, No 43


Gazette.govt.nz — PDF NZ Gazette 2008, No 43




✨ LLM interpretation of page content

🏭 Financial Statements for The Power Company Limited Line Business (continued from previous page)

🏭 Trade, Customs & Industry
Financial Instruments, Operating Leases, Foreign Currency, Employee Entitlements, Accounting Policies, Property, Plant and Equipment, Accounts Payable and Provisions