by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
Wool Stocktake : AWI Annual Report 2017-18
NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2018 (CONTINUED) NOTE 8: CURRENT ASSETS - CASH AND CASH EQUIVALENTS Consolidated 2018 2017 $'000 $'000 Cash at bank and in hand 10,254 9,024 Further details of cash and cash equivalents are set out in note 9. NOTE 9: CURRENT ASSETS - HELD -TO-MATURITY INVESTMENTS Consolidated 2018 2017 $'000 $'000 Term deposits 94,225 85,186 Cash and cash equivalents (note 8) and held-to-maturity investments are represented as follows: Unrestricted 20,139 45,455 Restricted as security against guarantees issued by the company's bankers(a) 2,440 3,455 Forward contract commitments(b) 15,700 15,300 Operating funds(c) 26,200 25,000 Emergency funds(d) 5,000 5,000 Discretionary funds(e) 35,000 - 104,479 94,210 (a) Bank guarantees have been issued to a number of parties in respect of the company's liabilities. The company has given its primary bankers security over term deposits in respect of those amounts, such deposits attracting commercial interest rates. (b) A reserve of $15.7 million has been created to cover contracted forward commitments. (c) Operating funds representing nine months of AWI operational costs are set aside to cover an unexpected cessation of levy and government contribution. (d) The Emergency reserve is set aside to cover any contingent expenditure arising from the wool industry’s obligation under the Emergency Animal Disease Response Agreement. (e) The directors resolved to create a discretionary reserve to have funds available to exploit opportunities outside the normal strategic plan (e.g. automated shearing initiatives) and to cover fluctuations in income over a long term period. NOTE 10: CURRENT ASSETS - TRADE AND OTHER RECEIVABLES Consolidated 2018 2017 $'000 $'000 Net trade receivables Trade receivables 3,343 4,458 Provision for doubtful receivables - (10) 3,343 4,448 Net other receivables Commonwealth matching funds and wool levy accruals 12,876 8,504 Other receivables 3,111 2,927 15,987 11,431 Prepayments Insurance 176 174 Other 885 557 1,061 731 20,391 16,610 86 FINANCIAL REPORT
AWI Annual Report 2016-17