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Group

Parent

Other Asian Currencies

1,070

910

1,070

910

6,365

4,213

6,206

3,970

Cash Holdings by Bank:

HSBC Bank

5,902

3,766

5,743

3,523

National Bank of New Zealand

319

299

319

299

ASB Bank

20

17

20

17

Bank of New Zealand

3

3

3

3

Tokyo Mitsubishi

121

128

121

128

6,365

4,213

6,206

3,970

The fair value of cash and cash equivalents is $6,366,000 (2014: $4,213,000).

Tourism New Zealand holds a stand by Letter of Credit with HSBC bank for an amount of $360,000 to serve as security against any

non-payment of payroll. This letter of credit has no expiry date. The bank also provides a financial guarantee to Datacom Business

Services, Tourism New Zealand’s payroll processor for Australian payroll an amount of AUD 42,000. Further, a financial guarantee for

an amount of AUD 97,000 is also provided by HSBC bank for Sydney office rent until 26 August 2016.

Qualmark holds a stand by Letter of Credit with the bank for an amount of $26,000 to serve as security against any non-payment of

payroll. This letter of credit has no expiry date. A cheque encashment facility for $1000 also exists with the bank.

Note 10

Receivables

Group

Parent

Receivables from non-exchange transactions

2015

$000s

2014

$000s

2015

$000s

2014

$000s

Receivables

62

155

62

155

Less: Provision for impairment

-

-

-

-

62

155

62

155

Receivables from non-exchange transactions are non-interest bearing and are generally on 30-day terms. The carrying value of

receivables approximates their fair value. As at 30 June 2015 and 2014, all overdue receivables have been assessed for impairment and

appropriate provisions applied, as detailed below:

Parent

2015

2014

Gross

$000s

Impairment

$000s

Net

$000s

Gross

$000s

Impairment

$000s

Net

$000s

Parent

Not past due

57

-

57

119

-

119

Past due 1 – 30 days

-

-

-

-

-

-

Past due 31 – 60 days

-

-

-

13

-

13

Past due 61 – 90 days

-

-

-

-

-

-

Past due > 91 days

5

-

5

23

-

23

62

-

62

155

-

155

Note 9 continued

56