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127
BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
17. Grossamount due from/(to) customers for contractwork-in-progress
Group
2012
2011
$
$
*Aggregate amount of costs incurred and recognised profits
(less recognised losses) to date
91,209,924 71,227,383
Less: Progress billings and advances
(67,209,811)
(46,784,357)
24,000,113 24,443,026
Presented as:
Gross amount due from customers for contract work
25,844,908 31,561,117
Gross amount due to customers for contract work
(1,844,795)
(7,118,091)
24,000,113 24,443,026
*Included in cost incurred is an amount of:
Unused inventories on site
19,600,000 14,964,796
Advances received included in gross amount due to
customers for contract work
1,622,732 14,562,479
Retention sums on construction contract included in trade receivables
2,159,400
552,500
18. Inventories
Group
2012
2011
$
$
Balance sheet:
Materials, components and spares
19,162,177 6,357,410
Statement of comprehensive income:
Inventories recognised as an expense in cost of sales
- Inventories written down
–
3,300
The cost of the goods sold reported in the statement of comprehensive income includes the total inventories
recognised as an expense for the year.
19. Trade andother receivables
Group
Company
2012
2011
2012
2011
$
$
$
$
Trade receivables
18,243,759
9,641,810
–
–
Deposits
654,048
147,513
22,223
22,223
Tax recoverable
558,558
1,877,464
–
–
Sundry receivables
223,376
86,357
145,429
–
Total trade and other receivables
19,679,741 11,753,144
167,652
22,223
Trade and other receivables
excluding tax recoverable
19,121,183
9,875,680
167,652
22,223
Amount due from subsidiaries
(Note 20)
–
–
2,700,000
600,000
Pledged deposits (Note 21)
11,067,427
6,500,000
–
–
Cash and short-term deposits
(Note 22)
173,901,562 169,276,813 167,789,758 142,122,891
Total loans and receivables
204,090,172 185,652,493 170,657,410 142,745,114
for the financial year ended 31december 2012
for the financial year ended 31december 2012
notestothe
financialstatements
notestothe
financialstatements
