✨ Financial Statements Continuation
30 NOVEMBER 2009 NEW ZEALAND GAZETTE, No. 173 4253
NGC HOLDINGS LIMITED
GAS TRANSMISSION ACTIVITIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2009
9. PAYABLES AND ACCRUALS
| 2009 | 2008 | |
|---|---|---|
| Current | $000 | $000 |
| Trade payables and other creditors | 2,119 | 1,364 |
| Finance lease | 394 | - |
| Interest payable | 2,153 | - |
| Other current payables | - | 10,953 |
| Total | 9,858 | 12,317 |
| 2009 | 2008 | |
|---|---|---|
| Non-current | $000 | $000 |
| Finance lease | 1,020 | 1,037 |
| Other non-current payables | 1,124 | 1,093 |
| Total | 2,144 | 2,130 |
10. PROVISIONS
| 2009 | 2008 | |
|---|---|---|
| $000 | $000 | |
| Balance at beginning of the period | 2,987 | 2,062 |
| Additions: | ||
| Provision for employee entitlements | - | 1,287 |
| Utilised: | ||
| Other provisions | (240) | (24) |
| Reversed to the income statement | - | (338) |
| Balance at end of the period | 2,747 | 2,987 |
11. RELATED PARTY 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: 8.09%) applicable to the Vector group borrowings.
12. COMMITMENTS
| 2009 | 2008 | |
|---|---|---|
| $000 | $000 | |
| Capital expenditure commitments | ||
| Capital expenditure contracted for at balance date but not yet incurred | 2,400 | - |
| 2009 | 2008 | |
|---|---|---|
| Operating lease commitments | ||
| Within one year | 453 | 7 |
| One to five years | 345 | 14 |
| Total | 798 | 21 |
The majority of the operating lease commitments relate to premises.
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NZ Gazette 2009, No 173
✨ LLM interpretation of page content
💰
Notes to the Financial Statements for NGC Holdings Limited
(continued from previous page)
💰 Finance & Revenue30 June 2009
Financial Statements, Payables, Accruals, Provisions, Related Party Borrowings, Commitments, NGC Holdings Limited