4 Trade and Other Receivables
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- Annual Report 2007/08 homepage
- Chief Executive's overview
- Strategic direction 2007/2008
- LINZ's performance 2007/2008
- LINZ information
| Actual 30/6/07 $000 |
Actual 30/6/08 $000 |
|
|---|---|---|
| 2,237 | Debtors from non-related parties | 2,073 |
| (27) | Less: provision for doubtful debts | (27) |
| 2,210 | Net debtors | 2,046 |
| – | Accounts receivables - State-owned enterprises | – |
| 2,056 | Accounts receivables - Crown entities | 368 |
| 4,266 | Total trade and other receivables | 2,414 |
| Represented by: | ||
| 4,259 | Current | 2,407 |
| 7 | Non-current | 7 |
Debtors are shown net of provision for doubtful debts amounting to $27,000 (2007: $27,000) recognised in the current year.
The carrying value of debtors and other receivables approximates their fair value.
As at 30 June 2008 and 2007, all overdue receivables have been assessed for impairment and appropriate provisions applied, as detailed below:
| 2007 | 2008 | ||||||
|---|---|---|---|---|---|---|---|
| Gross | Impairment | Net | Gross | Impairment | Net | ||
| Not pass due | 1,853 | – | 1,853 | 1,052 | – | 1,052 | |
| Past due 1-30 days | 22 | – | 22 | 206 | – | 206 | |
| Past due 31-60 days | 4 | – | 4 | – | – | – | |
| Past due 61-90 days | 138 | – | 138 | 6 | – | 6 | |
| Past due > 91 days | 2,276 | (27) | 2,249 | 1,177 | (27) | 1,150 | |
| Total | 4,293 | (27) | 4,266 | 2,441 | (27) | 2,414 | |
The provision for doubtful debts has been calculated based on expected losses for the Crown's pool of debtors.
Expected losses have been determined based on an analysis of the Crown's losses in previous periods and review of specific debtors.
Those specific debtors that are insolvent are fully provided for. As at 30 June 2008, the Department has identified no debtors (2007: nil) totalling $0.00 (2007: $0.00) that are insolvent.
Movements in the provision for doubtful debts are as follows:
| Actual 30/6/07 $000 |
Acutal 30/6/08 $000 |
|
|---|---|---|
| 27 | Balance at 1 July | 27 |
| – | Additional provisions made during the year | – |
| – | Receivables written off during the period | – |
| 27 | Balance at 30 June | 27 |
