EN - Business (Report) - Flipbook - Page 26
NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 March 2022
NOTE 4. CASH AND CASH EQUIVALENTS
Cash at bank
2022
2021
$
$
9,597,920
5,865,686
Cash balances not available for use
Restrictions exist upon the use of cash disclosed at the end of the financial year, as they relate to trust funds held on
behalf of various non-operative Agricultural Societies. The balance of the restricted funds are as follows:
Restricted funds
2,521
2,521
Trade receivables
623,001
505,814
Expected credit losses
(38,959)
(119,650)
584,042
386,164
NOTE 5. CONTRACT ASSETS
The average credit period on sale of goods and rendering of services is 30 days. No interest is charged on outstanding
trade receivable balances. An expected credit loss is raised based on estimated irrecoverable amounts from the sale
of goods and rendering of services, determined by reference to past default experience.
NOTE 6. OTHER CURRENT ASSETS
Prepayments
261,395
254,057
Net GST receivable
(39,920)
(175,100)
Other receivables
396,400
177,157
617,875
256,115
26
R A S WA A N N U A L R E P O R T 2 0 2 2
