Annual Report - AWB Limited

Notes to and forming part of the financial statements for the year ended 30 September 2008 AWB LIMITEDConsolidatedAWB Limited2008 2007 2008 2007$’000 $’000 $’000 $’0005. Loans and AdvancesTrade receivables 1,263,499 667,306 61 (29)Related party (AWB National Pools) 169,681 139,699 881,932 849,057Grower loans receivable 275,847 129,094 - -Finance advances 3,556 4,495 - -Rural loans and advances 2,308,566 2,097,293 - -Employee Share loan 10,040 10,190 10,040 10,190Subordinated loan - wholly owned group - - 196,289 165,000Loans to other persons/corporations 1,246 1,120 - -Loans to wholly owned group - - 1,077 -Loans to associates 14,305 12,261 - -4,046,740 3,061,458 1,089,399 1,024,218Staff Ownership PlanAWB previously offered eligible employees an interest free loan (fully repayable at the end of 10 years or upon resignation)for purchase of AWB Limited shares.Trade receivablesTrade receivables 1,281,786 687,804 61 (29)Collective provision for impairment (6,353) (8,410) - -Specific provision for impairment (11,934) (12,088) - -1,263,499 667,306 61 (29)Related party trade receivables - AWB National Pools 169,681 139,699 - 591,433,180 807,005 61 30Past due not impaired trade receivablesPast due 1 to 30 days 86,359 67,662 - -Past due 31 to 60 days 16,962 18,164 - -Past due 61+ days 28,711 13,750 - -132,032 99,576 - -Movements in the provision for impairment of trade receivablesCarrying amount at the beginning of the year (20,498) (12,376) - -Provision raised during the year (7,709) (9,849) - -Provisions utilised (written off during the year) 5,258 751 - -Provision released during the year 4,667 852 - -Foreign currency difference on translation of foreign currency entities (1) 124 - -Acquisition of subsidary (4) - - -(18,287) (20,498) - -All amounts provided for via the provision for impairment are considered to be impaired.www.awb.com.au 71