BAKERTECHNOLOGYLIMITED
ANNUALREPORT2013
117
Notes to the
Financial Statements
for the financial year ended 31December 2013
19. Tradeandotherreceivables
Group
Company
2013
2012
2013
2012
$
$
$
$
Trade receivables
12,292,299 18,243,759
–
–
Deposits
477,780
654,048
7,000
22,223
Tax recoverable
343,558
558,558
86,080
–
Sundry receivables
78,073
223,376
–
145,429
Total trade andother receivables
13,191,710 19,679,741
93,080
167,652
Trade and other receivables (excluding tax recoverable)
12,848,152 19,121,183
7,000
167,652
Amount due from subsidiaries (Note 20)
–
– 5,478,265 2,700,000
Pledged deposits (Note 21)
– 11,067,427
–
–
Cash and short-term deposits (Note 22)
205,871,055 173,901,562 156,810,290 167,789,758
Total loans and receivables
218,719,207 204,090,172 162,295,555 170,657,410
Trade receivables are non-interest bearing and are generally on 30 to 90 days’ terms. They are recognised at their original invoiced
amountswhich represent their fair values on initial recognition.
TheGroup’s trade receivables denominated in foreign currencies at 31December are as follows:
Group
2013
2012
$
$
United States dollar
9,478,516 10,317,529
Euro
2,813,783 7,915,444
At the end of the reporting period, trade receivable amounting to $Nil (2012: $4,010,108) was arranged to be settled via letter of
credits issued by a reputable bank in countrywhere the customer was based.
