New Zealand Gazette – 2009 – No. 173

Page 4235

✨ Financial Statements Notes



30 NOVEMBER 2009 NEW ZEALAND GAZETTE, No. 173 4235

NGC HOLDINGS LIMITED

GAS RETAILING ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2009

  1. DEFERRED TAX (continued)
PROPERTY, PLANT AND EQUIPMENT PROVISIONS AND ACCRUALS TOTAL
$000 $000 $000
2008
Balance at the beginning of the period (56) 72 16
Amounts recognised in the income statement:
Relating to current period 33 5 38
Balance at the end of the period (23) 77 54
Deferred tax assets - 77 77
Deferred tax liabilities (23) - (23)
Net deferred tax (liability) / asset (23) 77 54

The tax charge is notional; therefore no actual tax payments are made and as a result there are no imputation credits available to the gas retailing activities.

  1. NOTIONAL RESERVES
2009 2008
$000 $000
Balance at the beginning of the period 100 100
Net surplus for current period 3,566 7,094
Notional dividend declared (3,566) (7,094)
Balance at the end of the period 100 100

A provision has been made for a notional dividend of $3.6 million (30 June 2008: $7.1 million) payable for the current year.

  1. TRADE RECEIVABLES
2009 2008
$000 $000
Current
Trade receivables 29,921 31,628
Provision for doubtful debts (100) (638)
Total 29,821 30,990
  1. PAYABLES AND ACCRUALS
2009 2008
$000 $000
Current
Trade payables – NGC gas wholesaling activities (related party) 7,967 9,295
Other trade payables and creditors 508 333
Interest payable 247 -
Total 8,722 9,628


Next Page →



Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2009, No 173




✨ LLM interpretation of page content

🏭 Notes to the Financial Statements Disclosed by Directors of the Corporation (continued from previous page)

🏭 Trade, Customs & Industry
Financial statements, Notes, Deferred tax, Notional reserves, Trade receivables, Payables and accruals