Annual Report 10/11 - Campus Living Villages

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2011
A$’000
Campus Living Villages Annual Report 10/11
Campus Living Villages Fund
9. Derivative financial instruments
The Fund entered into variable to fixed interest rate swaps and forward exchange contracts as included in note 2 (d).
The derivative instruments that have met the hedge criteria in AASB 139 Financial Instruments: Recognition and
Measurement record the changes in fair value in hedging reserves and the derivative instruments that do not meet the
hedging criteria or have an ineffective portion are recorded in profit or loss.
June 2011 June 2010
Non-current assets
Interest rate swaps - 56
Non-current liability
Interest rate swaps 20,673 30,391
Total 20,673 30,335
10. Trade and other receivables
June 2011 June 2010
Trade receivables 7,188 8,746
Provision for impairment of receivables (3,627) (3,192)
3,561 5,554
Loan to US non-controlling shareholder - 3,440
Other debtors 1,303 721
Total trade and other receivables 4,864 9,715
The movement of the provision is:
- Opening balance 3,192 2,249
- Net impairments during the year 1,064 546
- Foreign exchange movements (629) 397
Closing balance 3,627 3,192
The ageing of the impaired receivables are:
- Less than 60 days 9 4
- 61 to 90 days - 278
- 91 days and greater 3,618 2,910
Total provision 3,627 3,192
The total trade receivables balance represents:
- Not past due and not impaired 1,961 2,786
- Past due and not impaired 1,600 2,768
- Past due and impaired 3,627 3,192
Total trade receivables 7,188 8,746
The ageing of the past due and not impaired receivables are:
- Less than 60 days 612 711
- 61 to 90 days 597 153
- 91 days and greater 391 1,904
Total past due and not impaired receivables 1,600 2,768
The carrying value of other debtors and other current assets approximates the fair value due to the short term nature of
the receivable. These assets do not earn interest nor is collateral obtained.
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