SI Annual Report 2016

Saunders International Limited
Notes to the Financial Statements
6. TRADE AND OTHER RECEIVABLES
2016
$’000
2015
$’000
Trade receivables(i) 7,085 5,014
(i)
The average credit period on sale of goods and rendering of services is approximately 35 days. No interest is
charged on trade receivables. Each receivable 60 days overdue has been reviewed to assess whether there
is a risk that it might be irrecoverable. On the basis of this review, it has been determined that no allowance
needs to be made for doubtful debts.
Ageing of past due but not impaired.
60 days over the due date 375 890
7. PLANT AND EQUIPMENT
Gross carrying amount
Plant and
Equipment
at Cost
Office
Furniture
and
Equipment
at Cost
Total
$’000 $’000 $’000
Balance at 1 July 2014 8,036 627 8,663
Additions 775 76 851
Disposals (432) - (432)
Balance at 30 June 2015 8,379 703 9,082
Additions 378 61 439
Disposals (889) (39) (928)
Balance at 30 June 2016 7,868 725 8,593
Accumulated depreciation
Balance at 1 July 2014 6,465 411 6,876
Disposals (424) - (424)
Depreciation expense 581
57
638
Balance at 30 June 2015 6,622 468 7,090
Disposals (889) (33) (922)
Depreciation expense 561 58 619
Balance at 30 June 2016 6,294 493 6,787
Net book value
As at 30 June 2015 1,757 235 1,992
As at 30 June 2016 1,574 232 1,806
Impairment Testing
Saunders International Limited reviews the carrying amounts of its tangible assets annually at each reporting date to
determine whether there is any impairment. As at 30 June 2016 the directors reviewed the future budgets of the
company to determine whether there are any indications of impairment. No indicators of impairment were noted and
no impairment losses are recorded.