Department of Foreign Affairs and Trade
Notes to and Forming Part of the Financial Statements

Note 7: Financial Assets

2015 2014
$’000 $’000
Note 7A: Cash and Cash Equivalents
Special Accounts 1,371 8,238
Cash held by outsiders 164 252
Cash on hand or on deposit 83,185 67,279
Total cash and cash equivalents 84,720 75,769

 

Note 7B: Trade and Other Receivables
Goods and services receivables in connection with
    Related parties 35,687 32,522
    External parties 46,420 30,355
Total goods and services receivables 82,107 62,877
 
Appropriations receivables
    Existing programs  
        Overseas Property Office 206,089 273,089
        Other Departmental 446,269 645,684
Total appropriations receivable 652,358 918,773
Other receivables
    Advances 12,922 10,645
    Statutory receivables 5,732 5,414
    Other 1,938 1,442
Total other receivables 20,592 17,501
Total trade and other receivables (gross) 755,057 999,151
Less impairment allowance
    Goods and services – (11)
    Other receivables (43) (337)
Total impairment allowance (43) (348)
Total trade and other receivables (net) 755,014 998,803
Trade and other receivables (net) expected to be recovered
    No more than 12 months 743,920 990,440
    More than 12 months 11,094 8,363
Total trade and other receivables (net) 755,014 998,803
Trade and other receivables (gross) aged as follows
    Not overdue 752,746 994,967
    Overdue by:
        0 to 30 days 246 2,789
        31 to 60 days 456 218
        61 to 90 days 127 133
        More than 90 days 1,482 1,044
Total trade and other receivables (gross) 755,057 999,151
 Note 7B: Trade and Other Receivables (Continued)    
 
Impairment allowance account is all aged more than 90 days. Credit terms were within 30 days (2014: 30 days)
 
Reconciliation of the Impairment Allowance Account:
 
Movements in relation to 2015
Goods and services   Other receivables   Total
$’000   $’000   $’000
Opening balance 11   337   348
    Amounts written off –   (331)   (331)
    Amounts recovered and reversed (11)   (6)   (17)
    Increase recognised in net cost of services –   43   43
Closing balance –   43   43
Movements in relation to 2014
Goods and services Other receivables Total
$’000 $’000 $’000
Opening balance 13 311 324
    Amounts written off (4) (7) (11)
    Amounts recovered and reversed – (2) (2)
    Increase recognised in net cost of services 2 35 37
Closing balance 11 337 348