Inspiring New Zealanders on Every Screen - Tvnz

44 / TVNZ ANNUAL REPORT FY2009Notes to the Financial Statements (continued)For the year ended 30 June 2009GroupCompany2009 2008 2009 2008$000 $000 $000 $0009) Cash and cash equivalentsCash at bank and in hand 186 218 186 218Short term deposits 1,861 5,123 1,861 5,123Cash and cash equivalents 2,047 5,341 2,047 5,341Bank overdrafts used for cash management purposes (171) (567) (171) (567)Cash and cash equivalents in the statement of cash flows 1,876 4,774 1,876 4,77410) Receivables and prepaymentsTrade receivables 34,940 42,108 34,940 42,108Less provision for receivables impairment (114) (96) (114) (96)Prepaid programme rights 7,624 11,774 7,624 11,774Prepayments - other 5,672 11,536 5,672 11,536Tax receivable 2,338 942 2,354 94250,460 66,264 50,476 66,264a) Provision for receivables impairmentTrade receivables are non interest bearing and are generally on 30-60 day terms. A provision for receivables impairment is recognised when there isobjective evidence that the receivable is impaired.Movements in the provision for receivables impairmentAt 1 July 96 312 96 312Charge/(reversal) for the year 108 (169) 108 (169)Amounts written off (90) (47) (90) (47)At 30 June 114 96 114 96Trade receivables that are less than 90 days overdue are not considered impaired. As at 30 June 2009 trade receivables of $1,228,000 (2008:$2,728,000) were past due but not considered impaired. Direct contact has been made with these debtors and the Company is satisfied that paymentwill be made in full. Payment terms on these amounts have not been renegotiated however credit has been stopped until full payment is made. At30 June, the ageing analysis of trade receivables is as follows:Current 33,598 39,284 33,598 39,284Up to 30 days overdue 992 2,306 992 2,306Between 30 and 90 days overdue 175 347 175 347Over 90 days overdue - past due not impaired 61 75 61 75Over 90 days overdue - past due considered impaired 114 96 114 9634,940 42,108 34,940 42,108b) Fair value and credit riskDue to the short term nature of these receivables, their carrying value is assumed to approximate their fair value (refer note 20 for details of credit risk).