Port Nelson Annual Report 2012 (pdf)

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notes to the accounts notes note 16: financial instruments (...continued) 2012 (000’s) Weighted Fixed Maturity Dates Average Non Financial Effective Floating 0 to 1 1 to 5 5+ Interest Instruments Interest Rate Interest Year Years Years Bearing Total financial assets Loans and Receivables: Cash and Cash Equivalents - - - - - - - Trade and Other Receivables - - - - - 4,705 4,705 Total Loans and other receivablEs - - - - 4,705 4,705 financial liabilities Financial Liabilities at amortised Cost: Bank Overdraft 5.70% 46 - Borrowings 6.38% 11,946 4,000 15,000 9,000 - 39,946 Trade and Other Payables - - - - - 2,229 2,229 Total Financial liabilities at Amortised cost 11,992 4,000 15,000 9,000 2,229 42,175 2011 (000’s) Weighted Fixed Maturity Dates Average Non Financial Effective Floating 0 to 1 1 to 5 5+ Interest Instruments Interest Rate Interest Year Years Years Bearing Total financial assets Loans and Receivables: Cash and Cash Equivalents 2.00% 504 - - - - 504 Trade and Other Receivables - - 611 - - 4,455 5,066 Total Loans and other receivablEs 504 611 - - 4,455 5,570 financial liabilities Financial Liabilities at amortised Cost: Borrowings 7.03% 15,300 - 13,000 11,000 - 39,300 Trade and Other Payables - - - - - 1,749 1,749 Total Financial liabilities at Amortised cost 15,300 - 13,000 11,000 1,749 41,049 Sensitivity Analysis The following table illustrates the potential profit and loss and equity impact for reasonably possible market movements, with all other variables held constant, based on Port Nelson’s financial instrument exposure at the balance date. Carrying Interest rate amount NZD 000’s -100bp -100bp +100bp +100bp Financial assets Profit Equity Profit Equity Cash and Cash Equivalents - - - - - Derivatives – designated as cash flow hedges - - - - - Financial liabilities Borrowings 11,946 119 119 (119) (119) Derivatives – designated as cash flow hedges 3,296 (1,735) 1,904 Fair Values Cash and Cash Equivalents are valued as the amount of the deposit or the purchase of the underlying security. Receivables are carried at the nominal amount due, less any provision for doubtful debts which represents the assessed credit risk. Liability to trade creditors is recognised on receipt of goods and services at nominal value. Payment would normally occur within 30 days. The following table details the fair value comparison of the long term borrowings as at 30 June 2012. 36
notes to the accounts note 16: financial instruments (...continued) Carrying Value Fair Value 2012 2011 2012 2011 financial liabilities $000 $000 $000 $000 Term Debt 39,900 39,300 39,900 39,300 Fair Value Movement (Net) - - 3,296 1,942 Total Financial Liabilities 39,300 39,300 43,196 41,242 notes note 17: term loan Interest Rate Contracts: The notional principal amounts of interest rate contracts outstanding at 30 June 2012 are as follows: 1. $4,000,000 for 4 years @ 6.95% p.a. terminating 31 May 2013 2. $9,000,000 for 2 years @ 6.19% p.a. terminating 29 November 2013 3. $6,000,000 for 9 years @ 6.49% p.a. terminating 30 November 2016 4. $5,000,000 for 10 years @ 5.99% p.a terminating 31 July 2019 5. $4,000,000 for 10 years @ 3.99% p.a terminating 29 April 2022 Swaps expiring within 12 months are treated as core debt and will be replaced with another approved instrument. note 18: commitments 2012 2011 The following expenditure was contracted for at balance date: $000 $000 Capital Development 8 598 note 19: operating leases 2012 2011 Non-cancellable operating leases as lessee $000 $000 Not later than one year 14 14 Later than one year and not later than five years 10 24 Total Non-Cancellable Operating Lease 24 38 Non-cancellable operating leases as lessor Not later than one year 5,478 4,857 Later than one year and not later than five years 14,992 14,530 Later than five years 7,314 6,975 Total Non-Cancellable Operating Lease 27,784 26,392 note 20: employee benefit liabilities 2012 2011 $000 $000 Accrued Pay 182 100 Annual Leave 694 666 Long Service Leave 157 97 Retirement Gratuities 47 47 Other Benefits 166 168 Total Employee Benefit Liabilities 1,246 1,078 Comprising: Current 1,083 968 Non-current 163 110 Total Employee Benefit Liabilities 1,246 1,078 37
Page 1 and 2: annual report 2012
Page 3 and 4: content Directors’ Report........
Page 5 and 6: directors’ report As Chairman of
Page 7 and 8: financial results A sustainable bus
Page 9 and 10: community governance highlights Som
Page 11 and 12: Photo: Nelson Mail environment A le
Page 13 and 14: our vision port people Percentage o
Page 15 and 16: 2012 financial report customers An
Page 17 and 18: statutory information to the shareh
Page 19 and 20: statement of corporate intent missi
Page 21 and 22: alance sheet as at 30 june 2012 Not
Page 23 and 24: statement of cash flows for the yea
Page 25 and 26: summary of significant accounting p
Page 27 and 28: summary of significant accounting p
Page 29 and 30: notes to the accounts note 4: defer
Page 31 and 32: notes to the accounts note 9: equit
Page 33 and 34: notes to the accounts note 14: prop
Page 35: notes to the accounts note 16: fina
Page 39 and 40: notes to the accounts note 23: rela

Port Nelson Annual Report 2012 (pdf)

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