KU Annual Report 2010 - Page 30

KU Financial Report Notes to the Financial Statements Continued... 8. Trade and other receivables 2010 $ 2009 $ 1,007,309 1,485,382 (84,714) (85,645) 922,595 1,399,737 - 125,279 1,483,478 998,598 2,406,073 2,523,614 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 GST receivable Other receivables 9. Other financial assets 2010 $ Available for sale investments carried at fair value: Investment in managed funds 2009 $ 7,621,477 7,561,554 2010 $ 166,801 2009 $ 411,750 Disclosed in financial statements as other financial assets 10. Other assets Prepayments 30 KU Children’s Services