NOTES TO THE FINANCIAL STATEMENTSFor the financial year ended 31 March 2022NOTE 4. CASH AND CASH EQUIVALENTSCash at bank20222021$$9,597,9205,865,686Cash balances not available for useRestrictions exist upon the use of cash disclosed at the end of the financial year, as they relate to trust funds held onbehalf of various non-operative Agricultural Societies. The balance of the restricted funds are as follows:Restricted funds2,5212,521Trade receivables623,001505,814Expected credit losses(38,959)(119,650)584,042386,164NOTE 5. CONTRACT ASSETSThe average credit period on sale of goods and rendering of services is 30 days. No interest is charged on outstandingtrade receivable balances. An expected credit loss is raised based on estimated irrecoverable amounts from the saleof goods and rendering of services, determined by reference to past default experience.NOTE 6. OTHER CURRENT ASSETSPrepayments261,395254,057Net GST receivable(39,920)(175,100)Other receivables396,400177,157617,875256,11526R A S WA A N N U A L R E P O R T 2 0 2 2
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