Annual Report 2010/11 - Australian Water Polo Inc

Notes to the financial statements
2011 2010
Note 4: CASH & CASH EQUIVALENTS $ $
Cash at Bank 614,264 403,398
US Dollar Foreign Currency Account 101,689 110,304
715,953 513,702
The Association operates a US Dollar Foreign Currency account to hold competition prize money paid by FINA and to pay expenses
incurred in FINA international competitions. The operation of the account removes the uncertainty of fluctuations between the
US dollar and Australian dollar. The amount $101,689 appearing in the statement of financial position is the accumulated value
of the transactions at the currency rate applying at the time of each transaction. At balance date the amount held in the foreign
currency account was $USD 109,204 and at the conversion rate as at 30 June 2011 its value was $AUD 101,689.
2011 2010
Note 5: TRADE AND OTHER RECEIVABLES $ $
Current:
Trade Receivables 411,595 329,372
Provision for impairment (31,622) (15,000)
Other Receivables-FINA 55,000 -
Other Receivables -Sponsorship 48,886 29,917
Other Receivables - Staff Advance 31,935 27,715
Other Receivables-Sundry 36,282 -
552,076 372,004
(a) Trade Receivables -Aged Analysis
0-30 days 298,213
31-60 days 3,126
61-90 days 31,970
91+ days 78,286
411,595
2011 2010
Note 6: INVENTORIES $ $
Current:
At Cost 170,720 182,220
170,720 182,220
48 | Australian Water Polo 2010/11 Annual Report