Page 46 - NZPM Annual Report 2017

NZPM GROUP ANNUAL REPORT 2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

For the year ended 31 March 2017

9. TRADE AND OTHER RECEIVABLES

2017 2016
$’000 $’000
Gross trade receivables 21,291 23,376
Less provision for credit notes (140) 0
Less allowance for doubtful debts (273) (400)
20,878 22,976
Prepayments and other receivables 7,475 6,314
28,353 29,290

(a) Movements in the allowance for doubtful debts
Balance at the beginning of the year (400) (461)
Impairment losses recognised on receivables (117) (41)
Amounts written off during the year as uncollectable 390 349
Impairment losses recovered (146) (247)
Balance at the end of the year (273) (400)
See note 20(c) with respect to impairment of trade receivables.

(b) Other receivables
All balances are part of normal business practice. No balances are impaired in the Group.

10. INVENTORIES

2017 2016
$’000 $’000
Finished goods and goods for sale 31,866 30,571
Provision for obsolete inventory and shrinkage (1,562) (1,097)
30,304 29,474

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