80
7. Trade Receivables
The average credit period on sale of goods is 30 days (December 31, 2013: 30 days).
An allowance has been made for the estimated irrecoverable amounts of $19,000 (December 31, 2013: $262,000). This
allowance has been determined by reference to past default experience.
The Group and Co-operative have trade receivables amounting to $7,106,000 (December 31, 2013: $13,711,000)
and $6,604,000 (December 31, 2013: $13,618,000) respectively that were past due at the end of the reporting
period for which the Group and Co-operative have not provided as there has not been a significant change
in credit quality from the receivables inception date and the amounts are still considered recoverable. These
receivables are unsecured and the analysis of their aging at the end of the reporting period is disclosed in Note
(i) of page 81.
6. Cash and Cash Equivalents (cont’d)
Significant cash and cash equivalents of the Group and Co-operative which are not denominated in the functional
currency of the respective group entities are as follows:
December 31,
2014
December 31,
2013
December 31,
2014
December 31,
2013
$’000
$’000
$’000
$’000
Outside parties
9,803
21,477
9,176
21,226
Less: Allowance for doubtful
receivables
(19)
(262)
(19)
(262)
9,784
21,215
9,157
20,964
Related parties (Note 5)
448
200
448
200
Associates (Note 11)
83
90
83
90
Subsidiary
-
-
1,466
-
Total
10,315
21,505
11,154
21,254
December 31,
2014
December 31,
2013
$’000
$’000
Australian dollar
100
23
United States dollar
5,889
1,876
Notes to Financial Statements
December 31, 2014
GROUP
CO-OPERATIVE
GROUP and CO-OPERATIVE
