KU Financial Report
6. Trade and Other Receivables
2015
$
2014
$
Trade receivables
Trade receivables
692,780
676,782
Allowance for doubtful debts
(85,868)
(123,288)
Accrued income
192,086
236,707
798,998
790,201
210,389
183,764
1,009,387
973,965
123,288
270,489
Increase to provision
87,574
16,005
Impairment recovery
(124,994)
(163,206)
85,868
123,288
Other receivables
Other receivables
Reconciliation of allowance for doubtful debts
Balance 1 January
Balance 31 December
Parent fees are paid either in advance or weekly. The average credit period on rendering of services is 3 days.
No interest is charged on the trade receivables. An allowance has been made for estimated irrecoverable trade
receivable amounts arising from the past rendering of services, determined by reference to past default experience.
The Company has provided fully for all such receivables outstanding at year end because historical experience is
that receivables past due beyond year end are generally not recoverable.
7. Other Assets
Prepayments
Finance lease asset
120th Annual Report 2015
983,630
41,848
1,025,478
849,352
29,351
878,703