Endeavour Energy Annual Performance Report - Parliament of New ...

09
Financial
statements
Notes to the Financial Statements
For the year ended 30 June 2011
8 Cash Flow Information continued
Inscribed stock
Endeavour Energy has borrowings by the issue of inscribed stock to companies and various government bodies.
There have been no new debt issues for this type of borrowing since November 1994.
The loan amount in current liabilities includes the Corporation’s inscribed stock principal repayments to be made
within one year of $0.27m (2010: $1.15m). All inscribed stock are fixed rate loans and fully payable on maturity,
with the exception of one loan which requires half yearly principal repayments.
Other financing facilities
Endeavour Energy has the following additional facilities approved under the PAFA Act:
(i) Purchasing and credit card facilities of $2.5m (2010: $2.5m) with the corporate banker;
(ii) A bank guarantee facility of $3.0m (2010: $3.0m) with the corporate banker; and
(iii) A set off arrangement allowing a maximum aggregate amount of all debit balances of accounts held with the
corporate banker of $20.0m (2010: $20.0m) and a maximum net debit balance/overdraft of all accounts held with
the corporate banker of $2.0m (2010: $2.0m).
9 Trade and Other Receivables
2011
$’000
2010
$’000
Trade receivables 123,445 183,310
Allowance for impairment (1,495) (20,849)
121,950 162,461
Other debtors 81,963 140,669
Prepayments – other 6,011 6,835
Total current trade and other receivables 209,924 309,965
Trade receivables are non-interest bearing. The Days Sales Outstanding (DSO) as at 30 June 2011 is 22.1 (2010: 24.1).
2011
$’000
2010
$’000
Trade receivables 17,332 –
Total non-current trade and other receivables 17,332 –
The non-current trade receivables balance relates to the recognition of a back-to-back asset for a non-current
derivative liability (note 15) that has been sold as part of the sale of the retail net assets (refer note 2(q)).
Movements in the allowance for impairment loss were as follows:
2011
$’000
2010
$’000
Opening balance 20,849 13,813
Charge for the year 8,524 14,193
Amounts written off (9,422) (7,435)
Amounts recovered during the year 6 278
Amounts sold as part of Retail sale (18,462) –
Closing balance 1,495 20,849
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