✨ Financial Statements Analysis
- Accounts Receivable
| 2011 | Distribution | 2010 | |
|---|---|---|---|
| $ | $ | ||
| Trade debtors | 567,140 | 602,928 | |
| Provision for doubtful debts | - | - | |
| Total Debtors | 567,140 | 602,928 |
Fair Value
Debtors are non-interest bearing and receipt is normally on 30 day terms, therefore the carrying value of debtors approximate their fair value.
Impairment
The carrying amount of receivables that would otherwise be past due or impaired whose terms have been renegotiated is $Nil (2009 $nil).
The status of debtors at 30 June are detailed below:
Distribution 2011
| Gross | Distribution | Impairment | |
|---|---|---|---|
| $ | $ | ||
| Not past due | 566,140 | - | |
| Past due 1-60 days | 1,000 | - | |
| Past due 61-120 days | - | - | |
| Past due > 120 days | - | - | |
| Total | 567,140 | 34,669 |
Distribution 2010
| Gross | Distribution | Impairment | |
|---|---|---|---|
| $ | $ | ||
| Not past due | 596,900 | - | |
| Past due 1-60 days | 6,028 | - | |
| Past due 61-120 days | - | - | |
| Past due > 120 days | - | - | |
| Total | 602,928 | - |
- Share Capital
Authorised capital:
| 2011 | 2010 | |
|---|---|---|
| $ | $ | |
| Distribution - 5,264,435 Ordinary shares each fully paid up | 5,264,435 | 5,264,435 |
- Net loans from related parties
| 2011 | Distribution | 2010 | |
|---|---|---|---|
| $ | $ | ||
| Wangануi Gas Limited | (1,290,443) | 917,484 | |
| (1,290,443) | 917,484 |
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NZ Gazette 2011, No 187
✨ LLM interpretation of page content
💰
Notes to the Financial Statements for GasNet Limited
(continued from previous page)
💰 Finance & RevenueAccounts Receivable, Trade Debtors, Fair Value, Impairment, Share Capital, Net Loans, Related Parties