Berry Street Web Docs Financial Report 2014 | Page 18
BERRY STREET VICTORIA INC.
ABN 24 719 196 762
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2014
2014
2013
$
$
NOTE 4: CASH AND CASH EQUIVALENTS
CURRENT
Cash at bank
Cash on hand
5,111,642
32,000
3,335,209
31,500
5,143,642
3,366,709
Cash at end of the financial year as shown in the Statement of Cashflows is reconciled in the Statement of
Financial Position as follows:
Cash and cash equivalents
Current financial assets
5,143,642
7,500,000
3,366,709
10,375,000
12,643,642
13,741,709
NOTE 5: TRADE AND OTHER RECEIVABLES
CURRENT
Trade receivables
Provision for impairment
2,045,191
(95,814)
1,655,820
(53,390)
Other receivables
1,949,377
983,966
1,602,430
892,174
Total current trade and other receivables
2,933,343
2,494,604
(a) Provision For Impairment of Receivables
Current trade and term receivables are generally on 30 day terms. These receivables are assessed for
recoverability and a provision for impairment is recognised when there is objective evidence that an
individual trade receivable is impaired. These amounts have been included in other expense items.
Movement in the provision for impairment of receivables is as follows:
2014
Opening
Balance
$
53,390
Charge for
The Year
$
49,373
Amounts
Written Off
$
(6,949)
Closing
Balance
$
95,814
2013
Opening
Balance
$
78,503
Charge for
The Year
$
(15,819)
Amounts
Written Off
$
(9,294)
Closing
Balance
$
53,390
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