✨ Financial Statements
30 NOVEMBER 2009 NEW ZEALAND GAZETTE, No. 173 4219
VECTOR LIMITED & SUBSIDIARIES
GAS DISTRIBUTION ACTIVITIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2009
- PAYABLES AND ACCRUALS
| 2009 | 2008 | |
|---|---|---|
| $000 | $000 | |
| Current | ||
| Trade payables and other creditors | 8,960 | 11,005 |
| Finance leases | 231 | - |
| Interest payable | 3,493 | 3,907 |
| Total | 12,684 | 14,912 |
| Non-current | ||
| Finance leases | 599 | 824 |
| Other non-current payables | 30 | 37 |
| Total | 629 | 861 |
- PROVISIONS
| 2009 | 2008 | |
|---|---|---|
| $000 | $000 | |
| Balance at beginning of the period | 1,670 | 747 |
| Additions: | ||
| Provision for employee entitlements | 20 | 394 |
| Other | - | 539 |
| Utilised | (665) | (10) |
| Balance at end of the period | 1,025 | 1,670 |
- BORROWINGS
Borrowings are a notional loan from Vector Limited.
The interest cost on the borrowings has been calculated using a weighted average interest rate of 7.72% (30 June 2008: 8.03%) applicable to the Vector group borrowings.
- COMMITMENTS
| 2009 | 2008 | |
|---|---|---|
| $000 | $000 | |
| Capital expenditure commitments | ||
| Capital expenditure contracted for at balance date but not yet incurred | 4,043 | 2,917 |
| Operating lease commitments | | |
| Within one year | 868 | 620 |
| One to five years | 756 | 1,025 |
| Beyond five years | 26 | 2 |
| Total | 1,650 | 1,647 |
The majority of the operating lease commitments relate to premises.
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NZ Gazette 2009, No 173
✨ LLM interpretation of page content
🏭
Certification of Financial Statements and Performance Measures for Gas Distribution
(continued from previous page)
🏭 Trade, Customs & Industry23 November 2009
Financial statements, Performance measures, Gas distribution, Vector Limited, Accounting policies, Impairment, Non-financial assets, Recoverable amount, Income statement, Deferred tax, Receivables, Prepayments