T R U S T f o r N AT U R E 2 0 1 1 - 1 2
Note 17
T R U S T f o r N AT U R E 2 0 1 1 - 1 2
Financial instruments (continued)
Note 17
Table 17.4: Ageing analysis of contractual financial assets
(b) Credit risk Credit risk arises from the financial assets of the Trust, which comprise cash and deposits, trade and other receivables, held to maturity investments and financial assets available-for-sale. The Trust's exposure to credit risk arises from the potential default of counter parties on their contractual obligations resulting in financial loss to the Trust. Credit risk associated with the Trust’s financial assets is minimal. Most loans and receivables are with government-funded organisations, and cash, deposits and held-to-maturity investments are held at a range of financial institutions with high credit ratings of a minimum BBB. Financial assets available-for-sale includes managed investments arefinancial managed by thethat Myer Company In addition, the Trust does not hedge its financial assets and mainlywhich obtains assets areFamily on fixed interest.and listed Provision for impairment for financial assets is recognised when there is objective evidence that the Trust will not be able to collect a receivable. The carrying amount of financial assets recorded in the financial statements, net of any allowances for losses, represents the Trust ’s maximum exposure to credit risk.
Government agencies
$
Financial institutions (min. AA credit rating) $
Other financial institutions (min. BBB credit rating) $
Other
Managed funds
$
$
18,612
0
9,192,875
517,364
0
0
146,763
0
664,127
Accrued investment income
0
306,821
241,583
0
0
548,404
Other receivables
0
64,128
0
138,439
0
202,567
Term deposits
0
12,408,825
6,781,232
0
0
19,190,057
Equities and managed investment schemes
0
0
0
0
2,504,835
2,504,835
8,561,515
13,909,886
7,022,815
303,814
2,504,835
32,302,865
8,745,182
339,250
0
17,946
0
9,102,378
2011
(i)
55,797
0
0
3,652
0
59,449
Accrued investment income
0
291,012
286,613
0
0
577,625
Other receivables
0
78,593
0
1,019
0
79,612
Term deposits
0
9,893,926
7,462,905
0
0
17,356,831
Equities and managed investment schemes
0
0
0
0
2,641,401
2,641,401
8,800,979
10,602,781
7,749,518
22,617
2,641,401
29,817,296
Sale of goods and services
Total contractual financial liabilities
Note: (i) The total amount of financial assets disclosed here excludes statutory receivables (i.e. amounts owing from Victorian Government and GST input tax credit recoverable).
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Less than 1 month
$
$
1 – 3 months $
3 months – 1 year
Impaired financial (ii) assets
$
$
(i)
Sales of goods and services
678,032
664,127
0
0
13,905
0
Interest receivable
548,404
548,404
0
0
0
0
Other receivables
202,567
202,567
0
0
0
0
19,190,057
19,190,057
0
0
0
0
2,513,865
2,504,835
0
0
0
9,030
23,132,925
23,109,990
0
0
13,905
9,030
(ii)
2011 $
0
Cash and cash equivalents
Past due, not impaired
Receivables :
Total
1,130,112
Total contractual financial liabilities
$
Equities and managed investment schemes
8,044,151
(i)
Not past due and not impaired
2012
Term deposits
Total
2012 Cash and cash equivalents
Carrying amount
Investments and other contractual financial assets:
Table 17.3: Credit quality of contractual financial assets that are neither past due nor impaired
Sale of goods and services
Financial instruments (continued)
(i)
Receivables : Sales of goods and services
273,784
59,449
0
0
214,335
0
Interest receivable
577,625
577,625
0
0
0
0
Other receivables
79,612
79,612
0
0
0
0
17,356,831
17,356,831
0
0
0
0
2,658,488
2,641,401
0
0
0
17,087
20,946,340
20,714,918
0
0
214,335
17,087
Investments and other contractual financial assets: Term deposits Equities and managed investment schemes Total
(ii)
Notes: (i) The total amount of financial assets disclosed here excludes statutory receivables (i.e. amounts owing from Victorian Government and GST input tax credit recoverable). (ii) Shares in Teys Income Builder were received in a bequest in 2009-10. Its responsible entity, TPFL, was placed in administration on 5 March 2010 and into liquidation on 20 April 2010. The value of shares at 30 June 2012 is the mid-point between the higher and lower case scenarios provided at 10 May 2012 by the liquidator of the responsible entity. Contractual financial assets that are either past due or impaired There are no material financial assets which are individually determined to be impaired other than those detailed above in Table 17.4. Currently the Trust does not hold any collateral as security nor credit enhancements relating to any of its financial assets. There are no financial assets that have had their terms renegotiated so as to prevent them from being past due or impaired, and they are stated at the carrying amounts as indicated. Table 17.4 discloses the ageing only of financial assets that are past due but not impaired.
Annual Report 2011-12
65