Berry Street Web Docs Financial Report 2011 | Page 18

BERRY STREET VICTORIA INC.
ABN 24 719 196 762

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2011
NOTE 5: TRADE AND OTHER RECEIVABLES (continued)
(b) Credit Risk
The entity does not have any material credit risk exposure to any single receivable or group of receivables.
The following table details the entity’s trade and other receivables exposed to credit risk (prior to collateral
and other credit enhancements) with ageing analysis and impairment provided thereon. Amounts are
considered as ‘past due’ when the debt has not been settled within the terms and conditions agreed
between the entity and the customer or party to the transaction. Receivables that are past due are assessed
for impairment by ascertaining solvency of the debtors and are provided for where there specific
circumstances indicating that the debt may not be fully repaid to the entity.
The balances of receivables that remain within initial trade terms (as detailed in the table) are considered to
be of high credit quality.
2011
Gross
Amount

Trade
receivables
Other
Receivables
Total

$
819,997
738,427
1,558,424

Past due
and
impaired

Within
Initial
Trade
Terms
$
398,895

$
177,211

$
83,733

$
-

-

738,427

-

-

-

160,158

1,137,322

177,211

83,733

-

$
160,158

2010

Trade
receivables
Other
Receivables
Total

Past due but not impaired
(days overdue)
<30
31-60

Gross
Amount

Past due
and
impaired

$
975,702

>60

Past due but not impaired
(days overdue)
<30
31-60

$
146,054

Within
Initial
Trade
Terms
$
547,798

$
160,948

$
120,902

$
-

599,543

-

599,543

-

-

-

1,575,245

146,054

1,147,341

160,948

120,902

-

17

>60