Note 8: Debtors and other receivables
Annual Report for the year ended 30 June 2009.
| Actual | Actual | |
|---|---|---|
| 2008 | 2009 | |
| $000 | $000 | |
| 4,613 | Debtors | 5,052 |
| (161) | Less provision for impairment of receivables | (223) |
| 4,452 | Net debtors | 4,829 |
| 3 | Other receivables | 0 |
| 4,455 | Total receivables | 4,829 |
The carrying value of debtors and other receivables approximates their fair value.
As of 30 June 2009 and 2008, all overdue receivables have been assessed for impairment and appropriate provisions applied, as detailed below:
| 2008 | 2009 | |||||
|---|---|---|---|---|---|---|
| Gross | Impairment | Net | Gross | Impairment | Net | |
| $000 | $000 | $000 | $000 | $000 | $000 | |
| Current | 3,299 | - | 3,299 | 3,768 | - | 3,768 |
| 31 to 60 days | 397 | - | 397 | 454 | - | 454 |
| 61 to 90 days | 332 | - | 332 | 186 | - | 186 |
| 91 to 120 days | 191 | - | 191 | 226 | - | 226 |
| Over 120 days | 397 | (161) | 236 | 418 | (223) | 195 |
| Carrying amount | 4,616 | (161) | 4,455 | 5,052 | (223) | 4,829 |
The impairment provision has been calculated based on expected losses for the Office’s pool of debtors. Expected losses have been determined based on an analysis of the Office’s losses in previous periods and review of specific debtors.
Movements in the provision for impairment of receivables are as follows:
| Actual | Actual | |
|---|---|---|
| 2008 | 2009 | |
| $000 | $000 | |
| 216 | Balance at 1 July | 161 |
| (41) | Additional provisions made during the year | 62 |
| (14) | Receivables written off during the period | 0 |
| 161 | Balance at 30 June | 223 |