Rangatira Annual Report 2023 - Flipbook - Page 58
58
R anga tira Annua l Rep or t 2 0 2 3
Rangatira Group
Notes to the Consolidated
Financial Statements (continued)
For the year ended 31 March 2023
Note 13 Trade Creditors
Trade payables and other accounts payable are recognised when the Group becomes obliged to make future payments resulting from
the purchase of goods and services.
Restated*
2023
2022
$000
$000
Trade creditors*
GST payable
11,203
10,327
1,375
1,019
Accrued interest
96
205
Deferred income
5,517
5,569
Other payables
5,133
4,123
23,324
21,243
Total trade and other payables
*The average credit period on purchases of certain goods is 28 days (2022: 28 days). No interest is charged on trade payables. The Group has financial
risk management policies in place to ensure that all payables are paid within the credit timeframe.
Note 14 Borrowings and Other Financial Liabilities
All loans and borrowings are initially recognised at fair value less transaction costs, and subsequently at amortised cost using the
effective interest rate method.
(a) Borrowings
2023
$000
Restated*
2022
$000
Loans from non-controlling interests in subsidiaries (current)
-
6,508
Bank loans
-
22,250
2,680
3,130
Unsecured at amortised cost
Current
Non-current
Loans from non-controlling interests in subsidiaries (non-current)
Loans from related parties
-
-
Bank loans
-
3,067
13,810
1,834
-
12
3,055
38,460
Total borrowings
19,545
75,261
Current borrowings
13,810
30,604
5,735
44,657
Secured at amortised cost
Current
Bank loans (secured current)
Finance lease liabilities
Non-current
Bank loans (secured non-current)
Non-current borrowings