Berry Street Web Docs Financial Report 2013 | Page 17

BERRY STREET VICTORIA INC.
ABN 24 719 196 762

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2013

2013

2012

$

$

NOTE 4: CASH AND CASH EQUIVALENTS
CURRENT
Cash at bank
Cash on hand

3,335,209
31,500

4,969,406
31,500

3,366,709

5,000,906

Cash at end of the financial year as shown in the Statement of Cashflows is reconciled in the Statement of
Financial Position as follows:
Cash and cash equivalents
Current financial assets

3,366,709
10,375,000

5,000,906
5,013,017

13,741,709

10,013,923

NOTE 5: TRADE AND OTHER RECEIVABLES
CURRENT
Trade receivables
Provision for impairment

1,655,820
(53,390)

1,035,926
(78,503)

Other receivables

1,602,430
892,174

957,423
1,121,879

Total current trade and other receivables

2,494,604

2,079,302

(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:

2013

Opening
Balance
$
78,503

Charge for
The Year
$
(15,819)

Amounts
Written Off
$
(9,294)

Closing
Balance
$
53,390

2012

Opening
Balance
$
160,158

Charge for
The Year
$
(29,181)

Amounts
Written Off
$
(52,474)

Closing
Balance
$
78,503

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