Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Trade and Other Receivables (Tables)

v3.19.2
Trade and Other Receivables (Tables)
12 Months Ended
Jan. 31, 2019
Trade and other receivables [abstract]  
Schedule of Trade and Other Receivables

 

        31 January 2019
NZ$000’s
    31 January 2018
NZ$000’s
    31 January 2017
NZ$000’s
 
CURRENT                      
Trade receivables         7,789       9,982       26,499  
Provision for impairment   (a)     (609 )     (326 )     (537 )
          7,180       9,656       25,962  
Prepayments         2,280       1,792       1,779  
Other receivables         183       1,717       349  
Total current trade and other receivables         9,650       13,165       28,090  

Disclosure of Impairment of Receivable

The loss allowance provision as at 31 January 2019 is determined as follows, the expected credit losses incorporate forward looking information.

 

31 January 2019   0 - 30 days     31 - 60 days     60 - 90 days     > 90 days overdue     Total  
Expected loss rate (%)     -       -       -       48.40          
Gross carrying amount ($)     5,577       852       101       1,259       7,789  
ECL provision     -       -       -       609       609  

Disclosure of Impairment Loss and Reversal of Impairment Loss

Reconciliation of changes in the provision for impairment of receivables is as follows:

 

    For the Year Ended 31 January 2019 
NZ$000’s
    For the Year Ended 31 January 2018 
NZ$000’s
    For the 7 Months Ended 31 January 2017 
NZ$000’s
 
Balance at beginning of the period (calculated in accordance with AASB 139)     (326 )     (537 )     (268 )
Amount restated through opening retained earnings on adoption of AASB 9     -       -       -  
Opening impairment allowance calculated under AASB 9     (326 )     (537 )     (268 )
Additional impairment loss recognised     -       -       -  
Amounts written off as uncollectable                        
Directly to P&L     -       -       -  
Movement through provision     (1,037 )     (92 )     (364 )
Unused amounts reversed     772       316       80  
Foreign exchange movement     (18 )     (13 )     15  
Balance at end of the period     (609 )     (326 )     (537 )

Analysis of Age of Financial Assets That are Past Due but Not Impaired

The ageing analysis of receivables is as follows:

 

    31 January 2019 
NZ$000’s
    31 January 2018 
NZ$000’s
    31 January 2017 
NZ$000’s
 
0-30 days     5,577       7,945       14,883  
31-60 days     852       335       2,566  
61-90 days (past due not impaired)     101       489       2,166  
61-90 days (considered impaired)     -       -       -  
91+ days (past due not impaired)     3,295       1,213       6,884  
91+ days (considered impaired)     (2,036 )     -       -  
      7,789       9,982       26,499  

Disclosure of Transfers of Financial Assets

The amount repayable under the factoring agreement is presented as secured borrowings.

 

    31 January 2019 
NZ$000’s
    31 January 2018 
NZ$000’s
    31 January 2017 
NZ$000’s
 
Transferred receivables          -       9,790       11,649