Notes to the financial statements (continued) Section 3: Operational assets and liabilities (continued) 9. Trade and other receivables (continued) B. Amounts recognised in statement of financial position Trade receivables represent amounts due from customers for services provided or goods sold in the ordinary course of business. They are usually settled on 14 or 30 day payment terms, unless contractually agreed otherwise. Other receivables generally arise from transactions outside the usual operating activities of the business. See table 15 below. C. Fair value of trade and other receivables (excluding prepayments) The fair value of trade and other receivables (excluding prepayments) is considered to be the same as the carrying amount. This is due to their short-term nature. The fair value of all other receivables (excluding prepayments) is estimated at the present value of future cash flows – discounted using the current market rates of interest available for similar receivables, unless the effect of discounting would be immaterial.
D. Critical accounting estimates and judgements: unbilled trade receivables As at 30 June 2025, trade receivables included unbilled network tariff revenue of $158 million (30 June 2024: $164 million). Refer to note 4(c) for further details on the estimation of this amount. E. Critical accounting estimates and judgements: impaired trade receivables The allowance for impairment of trade receivables is based on assumptions about risk of default and expected loss rates. Western Power uses judgement in making these assumptions and selecting the inputs to the impairment calculation, based on past history, existing market conditions as well as forward looking estimates at the end of each reporting date. Refer to notes 17(c)(i) and 17(c)(ii) respectively for details of Western Power’s ‘impaired’ and ‘past due but not impaired’ trade receivables as at the reporting dates presented, including key assumptions and inputs.
Table 15: Amounts recognised in statement of financial position
2024/25 Non- current $M
2023/24 Non- current $M
Current $M
Total $M
Current $M
Total $M
Note 9(d) 9(e)
Trade receivables Allowance for impairment of trade receivables
249 (6)
- -
249 (6)
252 (5)
- -
252 (5)
243
- - 1
243
247
- - 1
247
Prepayments Other receivables
27 9
27 10
23 3
23 4
279
1
280
273
1
274
Western Power Annual Report 2025
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