4. Trade and Other Receivables
In this section...
- Annual Report 2008/09 homepage
- Chief Executive's overview
- Strategic context 2008/2009
- LINZ's performance 2008/2009
- Financial statements
- LINZ information
- Appendix
| Actual 2008 $000 |
Actual 2009 $000 |
|
|---|---|---|
| 2,073 | Debtors from non-related parties | 2,469 |
| (27) | Less: provision for doubtful debts | (27) |
| 2,046 | Net debtors | 2,442 |
| – | Accounts receivables - Departments | 229,899 |
| 368 | Accounts receivables - Crown entities | 336 |
| 2,414 | Total trade and other receivables | 232,677 |
| Represented by: | ||
| 2,407 | Current | 232,670 |
| 7 | Non-current | 7 |
Debtors are shown net of provision for doubtful debts amounting to $0.027 million (2008: $0.027 million) recognised in the current year. The carrying value of debtors and other receivables approximates their fair value.
Current trade and other receivables includes $225.600 million due from the Office of Treaty Settlement for the Central North Island Treaty settlement, which was settled in July 2009.
As at 30 June 2009 and 2008, all overdue receivables have been assessed for impairment and appropriate provisions applied, as detailed below:
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 30 June 2009, the Department has identified no debtors (2008: nil) that are insolvent.
Movements in the provision for doubtful debts are as follows:
| Actual 2008 $000 |
Actual 2009 $00 |
|
|---|---|---|
| 27 | Balance as at 1 July | 27 |
| 27 | Balance as at 30 June | 27 |
