Annual Report - Bega Cheese

Financial Statements
Financial Period Ended Statements 30 June 2010
Period Notes to Ended the Financial 30 June 2010 Statements
Notes to the Financial Statements
6. Current Trade and Other Receivables
Consolidated
Company
2010 2009 2010 2009
$'000 $'000 $'000 $'000
Trade receivables 81,855 81,455 50,948 42,563
Allowance for impairment of receivables (42) (311) (40) (257)
81,813 81,144 50,908 42,306
Goods and services tax (GST) receivable 4,463 4,752 1,380 2,510
Prepayments 462 601 132 226
Other debtors 277 6,661 277 6,660
Advances for vat loans 154 240 - -
Advances to members of Tatura Milk 2,411 6,164 - -
Total 89,580 99,562 52,697 51,702
The average credit period for trade debtors is 30 days. No interest is generally charged on overdue debts. An allowance
has been made for estimated irrecoverable amounts from a review of debtors outside their trading terms.
Advances for vat loans are made to members of Tatura Milk to assist with the purchase of on farm milk storage vats.
Interest is charged at 9% (2009: 8%).
Advances to members of Tatura Milk are interest bearing loans to assist with short term working capital. The advances have
a maximum repayment term of 12 months and interest is charged at 9% (2009: 8%).
7. Other Financial Assets
Consolidated
Company
2010 2009 2010 2009
$'000 $'000 $'000 $'000
At fair value:
Fair value of derivatives 819 5,037 819 1,578
Total 819 5,037 819 1,578
8. Inventories
Consolidated
Company
2010 2009 2010 2009
$'000 $'000 $'000 $'000
Finished goods at cost 17,021 27,491 17,021 24,221
Finished goods at net realisable value 50,113 27,398 6,093 3,270
Raw materials and stores at cost 55,397 49,169 44,771 41,104
Total 122,531 104,058 67,885 68,595
Bega Cheese Limited 2010 Annual Report 35
Bega Cheese Limited 2010 Annual Report 35