✨ Financial Statements
2938 NEW ZEALAND GAZETTE, No. 109 30 AUGUST 2010
THE COMMUNITY TRUST OF SOUTHLAND
NOTES TO & FORMING PART OF THE FINANCIAL STATEMENTS
For the Year Ended 31 March, 2010
| Group | Parent | |||
|---|---|---|---|---|
| 2010 | 2009 | 2010 | 2009 | |
| $000 | $000 | $000 | $000 |
10. ACCOUNTS RECEIVABLE
Trade receivables
Allowance for doubtful debts
$420 $204 $46 $44
The allowance for doubtful debts in relation to trade receivables is provided for based on estimated irrecoverable amounts determined by reference to current customer circumstances and past default experience. In determining the recoverability of a trade receivable the Group considers any change in the credit quality of the trade receivable from the date the credit was initially granted up to the reporting date.
11. INVENTORIES
Raw materials and packing 192 - - -
Finished goods 20 - - -
$212 $Nil $Nil $Nil
12. MINORITY INTEREST
Opening balance at the beginning of the year - - - -
Acquired on acquisition of subsidiary 93 - - -
Share of profits for the year 2 - - -
Payment of dividends - - - -
Closing Balance $95 $Nil $Nil $Nil
13. GOODWILL
Gross carrying amount
Balance at beginning of financial year - - - -
Additional amounts recognised from business combinations occurring during the period 32 - - -
$32 $Nil $Nil $Nil
Allocation of goodwill to cash-generating units
Goodwill has been allocated for impairment testing purposes to the following cash-generating units representing the lowest level at which management monitor goodwill – Back Country Foods.
During the year ended 30 June 2010, management have determined that there is no evidence of impairment of any of the cash generating units containing goodwill.
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NZ Gazette 2010, No 109
✨ LLM interpretation of page content
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Financial Report of the Community Trust of Southland
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Notes, Accounts Receivable, Inventories, Minority Interest, Goodwill