Berry Street Web Docs Financial Report 2011 | Page 17

BERRY STREET VICTORIA INC . ABN 24 719 196 762 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2011
NOTE 4 : CASH AND CASH EQUIVALENTS
2011 2010 $ $
CURRENT
Cash at bank
2,960,805
2,996,956
Cash on hand
33,700
33,500
2,994,505 3,030,456
Cash at end of the financial year as shown in the Statement of Cashflow is reconciled in the Statement of Financial Position as follows :
Cash and cash equivalents
2,994,505
3,030,456
Current financial assets
7,500,000
10,031,725
10,494,505 13,062,181
NOTE 5 : TRADE AND OTHER RECEIVABLES
CURRENT
Trade receivables
819,997
975,702
Provision for impairment
( 160,158 )
( 146,054 )
659,839
829,648
Other receivables
738,427
599,543
Total current trade and other receivables 1,398,266 1,429,191
( 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 :
Opening Balance
Charge for The Year
Amounts Written Off
Closing Balance
01-Jul-10
30-Jun-11
2011
$
$
$
$
Provision for impairment of receivables
146,054
14,104
-
160,158
Opening Balance
Charge for The Year
Amounts Written Off
Closing Balance
01-Jul-09
30-Jun-10
2010
$
$
$
$
Provision for impairment of receivables
131,761
14,293
-
146,054
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