KU Financial Report
6. Trade and Other Receivables
2016
$ 2015
$
Trade receivables 1,021,242 692,780
Allowance for doubtful debts (171,554) (85,868)
176,370 192,086
1,026,058 798,998
280,428 210,389
1,306,485 1,009,387
Balance 1 January 85,868 123,288
Increase in provision 85,686 87,574
Impairment recovery 0 (124,994)
171,554 85,868
Trade receivables
Accrued income
Other receivables
Other receivables
Reconciliation of allowance for doubtful debts
Balance 31 December
Parent fees are paid either in advance or weekly in arrears. The average credit period on rendering of services is 3 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.
7. Other Assets
Prepayments
Finance lease asset
121st Annual Report 2016
879,343 983,630
28,114 41,848
907,457 1,025,478