Wellcom_FY11-Financial-Report

The maximum exposure to credit risk at the reporting

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Unformatted text preview: ncial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was: 2011 $’000 Cash and cash equivalents Trade receivables Other receivables 17,608 11,250 112 28,970 Note 6 8 8 2010 $’000 4,695 11,718 735 17,148 The Group’s maximum exposure to credit risk at the reporting date was the fair value of trade receivables, which was $11,250k (2010: $11,718k). Impairment losses The ageing of the Group’s trade receivables at the reporting date was: Gross 2011 $’000 Not past due Past due 0-30 days Past due 31-120 days Past due 121 days to one year More than one year Impairment 2011 $’000 Gross 2010 $’000 Impairment 2010 $’000 8,403 1,939 923 27 11,292 15 27 42 7,404 3,125 1,059 167 226 11,981 25 36 202 263 The movement in allowance for impairment in respect of trade receivables during the year was as follows: 2011 $’000 263 10 (9) (202) (20) 42 Opening balance at 1 July Impairment loss recognised Receivables written off during the year as uncollectible Disposal of Kinkaid Pty Ltd Foreign exchange movement Closing balance at 30 June 61 2010 $’000 318 28 (72) (11) 263 Wellcom...
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