Note 9: Current Assets
2020 | 2019 | |
Note 9A: Cash and Cash Equivalents | ||
|---|---|---|
Cash at bank and on hand | 4,774,992 | 6,665,920 |
Total cash and cash equivalents | 4,774,992 | 6,665,920 |
Note 9B: Trade and Other Receivables | ||
Trade receivables | 159,318 | 8,459 |
Total current trade and other receivables | 159,318 | 8,459 |
Provision for Impairment of Receivables
Current trade receivables are generally on 30 day terms. These receivables are assessed for recoverability and a provision for impairment is recognised when there is objective evidence that an individual trade receivable is impaired.
Receivables have been assessed for impairment and it has been determined that no impairment exists at 30 June 2020. (Impairment at 30 June 2019: nil)
All trade receivables are within initial trade terms.
2020 | 2019 | |
Note 9C: Other Assets | ||
|---|---|---|
Prepayments | 16,545 | 16,112 |
GST receivables | 94,678 | 72,265 |
Total other assets | 111,223 | 88,377 |
Note 9D: Other financial assets | ||
Held-to-maturity investments | 16,249 | 16,010 |
Total short-term investments | 16,249 | 16,010 |
Visit
https://www.transparency.gov.au/annual-reports/australia-business-arts-foundation-ltd/reporting-year/2019-20-41