Australia Post Annual Report 2008–09

Notes to and forming part of the Financial Report for the year ended 30 June 2009
6 Current assets – trade and other receivables
Goods and services receivable (1)
Allowance for doubtful debts
Proceeds receivable
Finance lease receivable (see note 30(ii))
Interest receivable
Trade receivables from controlled and jointly controlled entities (see note 28)
Other receivables (2)
76
Australia Post Annual Report 2008–09 | Financial and statutory reports
2009
$m
350.7
(5.0)
Consolidated Corporation
2008
$m
338.9
(4.5)
2009
$m
325.7
(4.0)
2008
$m
319.5
(3.5)
345.7 334.4 321.7 316.0
Total current assets 390.4 357.5 366.6 337.4
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
24.2
6.5
1.2
1.5
11.3
342.3
14.1
2.7
4.8
26.5
0.0
6.5
2.4
1.7
12.5
314.9
19.4
5.5
4.3
13.4
24.2
6.5
1.2
2.3
10.7
329.5
7.5
1.8
4.0
23.8
0.0
6.5
2.4
1.7
10.8
305.8
12.6
4.1
3.8
11.1
390.4 357.5 366.6 337.4
0.1
0.1
0.0
0.0
4.8
0.3
0.0
0.0
0.1
4.1
0.0
0.1
0.0
0.0
3.9
0.3
0.0
0.0
0.1
3.1
5.0 4.5 4.0 3.5
Balance at 30 June 5.0 4.5 4.0 3.5
(1) Denominated in Australian dollars, 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 50.1 49.2 50.1 49.2
Inventory write-down expense recognised totalled $0.2 million (2008: $0.2 million) for the group and $0.2 million (2008: $0.2 million) for the corporation. This expense is included
in the cost-of-sales line item as a cost of inventories. See note 3.
8 Other current assets
Prepayments
Foreign currency exchange contracts
Total other current assets 62.7 61.3 61.4 59.4
4.5
0.8
(0.3)
1.2
1.2
47.7
62.6
0.1
4.8
0.8
(1.1)
1.1
0.8
47.3
61.3
0.0
3.5
1.3
(0.8)
1.2
1.2
47.7
61.3
0.1
4.1
0.3
(0.9)
1.1
0.8
47.3
59.4
0.0