Financials - Film Victoria

112 113 section 08 financial statements
section 08 financial statements
notes to tHe Financial statements
for the financial year ended 30 June 2009
note 13. Financial instRuments (continued)
(d) credit Risk
Film Victoria’s maximum exposure to credit risk at balance date in relation to each class of recognised financial asset
is the carrying amount of those assets as indicated in the Balance Sheet.
Within the Film Victoria Cash Flow Facility, the maximum exposure cannot exceed $3,000,000 for each of the following:
– any one Australian distributor, broadcaster or sales agent
– any one overseas distributor, broadcaster or sales agent
– any one producer. (Producers are eligible to apply to Film Victoria for an equity investment for the same project)
Credit risk in trade receivables is managed in the following ways:
– By operating under payment terms of 30 days,
– Debt collection policies and procedures.
As at 30 June 2009, there is no event to indicate that any of the financial assets were impaired. The following table
discloses the ageing only of financial assets that are past due but not impaired.
2009
carrying
amount $
not past
due and not
impaired $
past due but not impaired
less than
30 days 30 – 90 days 90 – 365 days
$ $ $
1 – 5 years $
Financial assets
Other receivables 88,227 – 88,227 – – –
Interest receivables 49,317 – 49,317 – – –
Cash on hand and cash at bank 360,116 360,116 – – – –
Short term / at call deposits 26,321,153 26,321,153 – – – –
Producer Loans – Cash Flow Facility 5,614,255 5,614,255 – – – –
Financial liabilities
Other payables 187,915 – 187,915 – – –
2008
Financial assets
Other receivables 153,273 – 21,273 132,000 – –
Interest receivables 129,155 – 129,155 – – –
Cash on hand and cash at bank 417,426 417,426 – – – –
Short term / at call deposits 28,610,620 28,610,620 – – – –
Producer Loans – Cash Flow Facility 4,121,231 4,121,231 – – – –
Financial liabilities
Other payables 148,388 – 148,388 – – –