NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2022
Note 19: Financial Risk Management (continued) Maximum exposure to credit risk
2022 $
2021 $
Summary exposure
Cash and cash equivalents
1,015,267
841,843
Trade receivables
3,904,493
4,121,026
4,919,760
4,962,869
Liquidity Risk The consolidated entity manages liquidity risk by continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities. Such cash flow forecasting ranges from daily to monthly, with annual forecasting to ensure funding facilities are sufficient to service the business. This analysis shows that available borrowing facilities are expected to be sufficient.
The Group is dependent on the availability of finance to continue to trade as normal. Refer to Note 5 (b) for the Group’s financing facilities available at balance date.
The tables below analyse the consolidated entity’s financial liabilities appearing in the balance sheet as at the reporting date into relevant maturity groupings based on the remaining period at the reporting date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows.
Between 1 and 5 years
1 year or less
Total
2022 Financial Liabilities Non-interest bearing Trade creditors and other creditors
3,726,625
-
3,726,625
Lease liabilities – rent on warehouse
411,571
216,896
628,467
Deposits
376,800
942,700
1,319,500
Variable rates Finance Facility
1,823,781
-
1,823,781
Credit card
18,828
-
18,828
Fixed rates Total Financial Outflows
6,357,605
1,159,596
7,517,201
64 I GO VITA GROUP LIMITED ANNUAL REPORT 2021-2022
Made with FlippingBook Learn more on our blog