KU Financial Report
Notes to the Financial Statements
Continued...
8. Trade and other receivables
2009
$ 2008
$
1,485,382 1,218,552
(85,645) (56,904)
1,399,737 1,161,648
GST receivable 125,279 -
Other receivables 998,598 904,810
2,523,614 2,066,458
Trade receivables
Government funding and amounts owed by non-controlled centres
Allowance for doubtful debts
Parent fees are paid either in advance or by the week. The average credit
period on rendering of services is 7 days. No interest is charged on the trade
receivables. An allowance has been made for estimated irrecoverable trade
receivable amounts arising from the past rendering of services, determined by
reference to past default experience. The Company has provided fully for all
such receivables outstanding at year end because historical experience is that
receivables past due beyond year end are generally not recoverable.
Other receivables
9. Other financial assets
2009
$
Available for sale investments carried at fair value:
Investment in managed funds
2008
$
7,561,554 6,512,103
2009
$
411,750 2008
$
461,337
Disclosed in financial statements as other financial assets
10. Other assets
Prepayments
30
KU Children’s Services