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CONSOLIDATED PARENT ENTITY
NOTE 31 JULY 08 31 JULY 07 31 JULY 08 31 JULY 07
$000 $000 $000 $000
NOTE 9: RECEIVABLES (cont.)
(c) Movement in provision for doubtful debts
Balance at the beginning of the year 686 1,543 - -
Additional provisions recognised 1,632 379 - -
Trade debts written off (595) (254) - -
Reversals of provisions not required (78) (982) - -
Balance at the end of the year 1,645 686 - -
(d) Receivables past due
Receivables past due but not impaired
Past due 0 - 30 days 2,012 1,715 - -
Past due 30+ days 412 487 - -
2,424 2,202 - -
Before allowing new customers to trade on credit terms, an analysis of the potential customers credit quality is performed using
external credit reporting agencies and internal reporting, to determine whether an account will be opened and the amount of the
limit to be applied to that account. Various levels of management are required to approve progressively higher credit limits, with
individual limits exceeding $1 million reported to the Board.
An analysis of trade receivable balances past due is performed constantly throughout the year, and an allowance is made for
estimated irrecoverable trade receivables based on historical experience of default, and known information on individual debtors.
In many instances security is held over individual debtors in the form of personal guarantees. Receivables past due but not
impaired are expected to be collected in full.
NOTE 10: HELD FOR TRADING FINANCIAL ASSETS
Share trading portfolio at fair value 30 87 - -
The share trading portfolio represents ordinary shares listed on the ASX, and hence have no maturity date.
NOTE 11: OTHER FINANCIAL ASSETS
Unlisted investments, at cost
- Shares in controlled entities - - 165,438 165,438
Listed investments, at cost
- Shares in associated companies 28 - - 82,999 82,999
- - 248,437 248.437
Market values of listed investments
- Shares in associated companies - - 1,134,798 1,080,227
NOTE 12: INVENTORIES
(a) Current
Raw materials and stores at cost 27,822 25,222 - -
Work in progress at cost 9,855 10,205 - -
Finished goods at cost 96,236 96,611 - -
133,913 132,038 - -
Finished goods at net realisable value 4,022 905 - -
137,935 132,943 - -
(b) Non-current
Raw materials and stores at cost 7,230 5,883 - -

 

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