Financial Report Template Page 41
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80NOTES TO THE FINANCIAL STATEMENTS
(CONT)
FOR THE YEAR ENDED 30 JUNE 2015
NOTE 13 TRADE AND OTHER RECEIVABLES CONT.
(b) Credit risk
The Group has no significant concentration of credit risk with respect to any single counter party or group of counter parties other
than those receivables specifically provided for and mentioned within Note 13. The class of assets described as Trade and Other
Receivables is considered to be the main source of credit risk related to the Group.
The following table details the Group’s trade and other receivables exposed to credit risk (prior to collateral and other credit
enhancements) with ageing analysis and impairment provided for thereon. Amounts are considered as ‘past due’ when the debt has
not been settled with the terms and conditions agreed between the Group and the customer or counter party to the transaction.
Receivables that are past due are assessed for impairment by ascertaining solvency of the debtors and are provided for where there
are specific circumstances indicating that the debt may not be fully repaid to the Group.
The balances of receivables that remain within initial trade terms (as detailed in the table) are considered to be of high credit quality.
Past due but not impaired (days overdue)
Gross
Past due and
Within initial
Consolidated Group
Amount
impaired
<30
31-60
61-90
>90
trade terms
2015
$
$
$
$
$
$
$
Trade and term receivables
15,296,872
785,205
2,395,068
1,384,188
637,959
3,231,150
6,863,302
Other receivables
664,111
–
–
–
–
–
664,111
Total
15,960,983
785,205
2,395,068
1,384,188
637,959
3,231,150
7,527,413
Past
Past due but not impaired (days overdue)
Gross
due and
Within initial
Consolidated Group
Amount
impaired
<30
31-60
61-90
>90
trade terms
2014
$
$
$
$
$
$
$
Trade and term receivables
5,809,859
436,526
–
405,273
317,163
588,348
4,062,549
Other receivables
59,856
–
–
–
–
–
59,856
Total
5,869,715
436,526
–
405,273
317,163
588,348
4,122,405
(c) Collateral pledged
A floating charge over trade receivables has been provided for certain debt.
39
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