2009-10 Annual Report - Australia Post

notes to And ForminG PArt oF the FinAnCiAl rePort For the year ended 30 June 2010
6 Current assets – trade and other receivables
Goods and services receivable (1)
allowance for doubtful debts
proceeds receivable
Finance lease receivable (refer note 30 (ii))
interest receivable
trade receivables from controlled and jointly controlled entities (refer note 28)
income tax receivable
other receivables (2)
64
AustrAliA Post AnnuAl rePort 2009–10 | Financial and statutory reports
2010
$m
351.4
(4.2)
consolidated corporation
2009
$m
350.7
(5.0)
2010
$m
333.9
(3.2)
2009
$m
325.7
(4.0)
347.2 345.7 330.7 321.7
total current assets 369.2 390.4 354.2 366.6
receivables not impaired are aged as follows
not past due
past due less than 30 days
past due 30–60 days
past due 61–90 days
past due more than 90 days
receivables individually determined to be impaired are aged as follows
not past due
past due less than 30 days
past due 30–60 days
past due 61–90 days
past due more than 90 days
movements in the allowance for doubtful debts during the financial year,
are set out below
Balance at 1 July
charge for the year
amounts written off
–
6.5
0.9
1.4
5.5
7.7
337.8
11.5
8.8
0.8
10.3
24.2
6.5
1.2
1.5
–
11.3
342.3
14.1
2.7
4.8
26.5
–
6.5
0.9
3.5
5.5
7.1
327.9
8.0
8.1
0.6
9.6
24.2
6.5
1.2
2.3
–
10.7
329.5
7.5
1.8
4.0
23.8
369.2 390.4 354.2 366.6
0.4
–
–
0.2
3.6
0.1
0.1
–
–
4.8
0.3
–
–
0.1
2.8
–
0.1
–
–
3.9
4.2 5.0 3.2 4.0
Balance at 30 June 4.2 5.0 3.2 4.0
(1) Goods and services receivable are interest-free and are normally on settlement terms of between 10 and 30 days. included within goods and services receivable are international
debtors, which are settled in accordance with universal postal union (upu) arrangements, which may be longer than 30 days.
(2) receivables are interest-free with various maturities.
7 Current assets – inventories (held for sale)
raw materials (at net realisable value)
Work in progress (at cost)
Finished goods (at net realisable value)
total current inventories at lower of cost and net realisable value 44.1 50.1 44.1 50.1
inventory write-down expense recognised totalled $3.3 million (2009: $0.2 million) for the group and $3.3 million (2009: $0.2 million) for the
corporation. this expense is included in the write-down of inventory. refer to note 3.
8 Other current assets
prepayments
Foreign currency exchange contracts
total other current assets 78.1 62.7 75.8 61.4
5.0
0.2
(1.0)
1.1
1.1
41.9
77.7
0.4
4.5
0.8
(0.3)
1.2
1.2
47.7
62.6
0.1
4.0
0.1
(0.9)
1.1
1.1
41.9
75.4
0.4
3.5
1.3
(0.8)
1.2
1.2
47.7
61.3
0.1