BAKERTECHNOLOGYLIMITED
ANNUALREPORT2013
116
Notes to the
Financial Statements
for the financial year ended 31December 2013
17. Grossamountdue from / (to) customers forcontractwork-in-progress
Group
2013
2012
$
$
Aggregate amount of costs incurred and recognisedprofits (less recognised losses) to date*
17,055,035 91,209,924
Less: Progress billings and advances
(3,328,290) (67,209,811)
13,726,745 24,000,113
Presented as:
Gross amount due from customers for contract work-in-progress
14,547,420 25,844,908
Gross amount due to customers for contract work-in-progress
(820,675)
(1,844,795)
13,726,745 24,000,113
* Included in cost incurred is an amount of:
Unused inventories on site
15,850,000 19,600,000
Advances received included in gross amount due to customers for contract work
152,947 1,622,732
Retention sums on construction contract included in trade receivables
2,813,783 2,159,400
18. Inventories
Group
2013
2012
$
$
Balance sheet:
Materials, components and spares
5,573,492 19,162,177
The cost of the goods sold reported in the statement of comprehensive income includes the total inventories recognised as an
expense for the year.
