ARTA Annual Report 2009 - Auckland Transport

Past Due But Not Impaired – Trade
As at 30 June 2009 trade receivables of $40,000 (2008: $162,000) were past due but not impaired. These relate
to a number of independent customers for whom there is no recent history of default. The Organisation
took legal advice regarding the balance in 2008 that was over 90 days, and this has been collected in full
during the 2009 year.
The aging analysis of these trade receivables is as follows:
2009 2008
$000 $000
Past due 1-3 months 22 59
Past due 3-6 months 17 76
Past due >6 months 1 27
Total trade receivables past due but not impaired 40 162
Total current trade receivables 553 468
Total impaired receivables 0 0
Total trade receivables 553 468
ARTA holds no collateral as security or other credit enhancements over receivables that are past due.
The other classes of receivables do not contain impaired or past due assets.
Bad debts
ARTA has not recognised a loss in respect of bad debts (2008: $0).
6 Trade and Other Payables 2009/2008
2009 2008
$000 $000
Trade creditors 7,035 8,087
Employee benefit liabilities (see note 17) 1,025 850
Accrued expenditure 31,421 34,740
Withholding tax payable 0 5
Deferred income 59 3,076
GST payable 0 185
Total trade and other payables 39,540 46,943
Trade and other payables are non-interest bearing and are normally settled on 30-day terms, therefore the
carrying value of these payables approximates their fair value.
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