AnnuAl REPORT 10/11 - Grow Wellington

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11. TRADE AND OTHER RECEIVABLES PARENT GROUP
$ $ $
2011 2010 2011
$ $
Trade Receivables 160,242 57,527 178,761
Other Receivables 62,569 121,271 62,569
Trade receivables are usually due within 30-45 days and do not bear an effective interest rate.
All Trade receivables are subject to credit risk exposure. There is no concentration of credit
risk with respect to receivables outside the Company, as the Company has a large number
of customers. The carrying value of receivables approximates their fair value.
12. TRADE AND OTHER PAYABLES
222,811 178,798 241,330
2011 2010 2011
$ $ $
Trade Payables 176,195 170,765 220,153
Non-Trade Payables and Accrued Expenses 96,094 107,343 120,637
Trade and other payables are non-interest bearing and are normally settled on 30 day terms,
therefore the carrying value of trade and other payables approximates their fair value.
13. EMPLOYEE ENTITLEMENT LIABILITIES
272,289 278,108 340,790
2011 2010 2011
$ $ $
Annual Leave/Holiday Pay 79,432 85,375 79,432
Long Service Leave - - -
Accrued Salary and Wages 110,834 111,879 110,834
14. CAPITAL COMMITMENTS
There were no capital commitments at balance date. (2010: Nil)
190,266 197,254 190,266
15. OPERATING LEASES
Non-cancellable operating lease rentals are payable as follows:
2011 2010 2011
$ $ $
Less than One Year 191,504 328,955 341,288
Between One and Five Years 359,259 867,813 644,104
More than 5 Years - - -
550,763 1,196,768 985,392
A significant portion of the total non-cancellable operating lease amount relates to the lease of the Group’s offices. The lease expires in June 2017,
with an option to vacate the premises at the lease renewal date of 30 June 2014. The Company has assumed it will vacate the premises at the lease
renewal date of 30 June 2014. The Company does not have the option to purchase the asset at the end of the lease term.