✨ Financial Statements
NEW ZEALAND GAZETTE, No. 146 28 SEPTEMBER 2011
THE COMMUNITY TRUST OF SOUTHLAND
NOTES TO & FORMING PART OF THE FINANCIAL STATEMENTS
For the Year Ended 31 March, 2011
| Group | Parent | |||
|---|---|---|---|---|
| 2011 | 2010 | 2011 | 2010 | |
| $000 | $000 | $000 | $000 |
10. ACCOUNTS RECEIVABLE
Trade receivables 504 420 15 46
Allowance for doubtful debts (80) - - -
**$424** **$420** **$15** **$46**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 191 192 - -
Finished goods 29 20 - -
**$220** **$212** **$Nil** **$Nil**12. MINORITY INTEREST
Opening balance at the beginning of the year 95 93 - -
Acquired on acquisition of subsidiary - 2 - -
Share of profits for the year 30 - - -
Payment of dividends - - - -
Closing Balance $125 $95 $Nil $Nil
13. GOODWILL
Gross carrying amount
Balance at beginning of financial year 32 - - -
Additional amounts recognised from business
combinations occurring during the period - 32 - -
**$32** **$32** **$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 31 March 2011, 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 2011, No 146
✨ LLM interpretation of page content
💰
Financial Statements of the Community Trust of Southland
(continued from previous page)
💰 Finance & Revenue24 August 2011
Financial Statements, Community Trust, Southland, Accounts Receivable, Inventories, Minority Interest, Goodwill