55 ―
9. Trade and other receivables
2020 $M
2019 $M
NOTE
Current Trade receivables Interest receivable
64.0 11.0
76.3
9.4
9.0 1.0 1.7 1.9
Prepayments
11.1
Consideration due from sale of Kapuni gas interests
5
–
Other taxes and duties receivable
1.9 1.4
Other
Balance at 30 June
88.6
100.1
Non–current Other contract receivables
1.7 1.7
1.7 1.7
Balance at 30 June
At 30 June, the exposure to credit risk for trade and other receivables by type of counterparty was as follows.
2020 $M
2019 $M
NOT CREDIT IMPAIRED
CREDIT IMPAIRED
NOT CREDIT IMPAIRED
CREDIT IMPAIRED
55.7
2.4 0.3 4.6 1.5 8.8
Business customers
62.4
2.8
4.4
Mass market customers Third party asset damages
6.6 0.3 4.2
–
–
5.2 0.9 8.9
2.1
Residential and other
Total gross carrying amount
62.2
73.5
–
(5.3)
Loss allowance
(0.2)
(4.2)
62.2
3.5
73.3
4.7
The following table provides information about the exposure to credit risk and expected credit losses for trade and other receivables as at 30 June.
2020 $M
2019 $M
CARRYING AMOUNT
LOSS ALLOWANCE
CARRYING AMOUNT
LOSS ALLOWANCE
55.0
– –
Not past due
65.9
– –
2.7 4.8 3.2
Past due 1 – 30 days Past due 31 – 120 days
7.1 2.9 2.1
0.5 4.8 5.3
0.2 4.2 4.4
Past due more than 120 days
Balance at 30 June
65.7
78.0
Policies
Trade receivables are predominantly billed receivables. Sales to business customers are billed monthly. Trade receivables frommass market, residential and other customers are recognised as they are originated. Other receivables represent the amount of contractual cash flows that the group expect to collect from third parties but that did not arise from contracts with customers. Where contractual cash flows are expected or contracted to be received after 12 months, the balance is presented as non–current.
Notes to the Financial Statements
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