Baker Technology LimitedAnnual Report 2014
121
17.
Gross amount due from / (to) customers for contractwork-in-progress
Group
2014
2013
$
$
Aggregate amount of costs incurred and recognisedprofits (less
recognised losses) todate *
30,065,230
17,055,035
Less: Progress billings and advances
(3,918,956)
(3,328,290)
26,146,274
13,726,745
Presented as:
Gross amount due from customers for contract work-in-progress
28,775,970
14,547,420
Gross amount due to customers for contract work-in-progress
(2,629,696)
(820,675)
26,146,274
13,726,745
*Included in cost incurred is an amount of:
Unused inventories on site
15,250,000
15,850,000
Advancesreceived included ingrossamountduetocustomers forcontractwork
387,999
152,947
Retention sums on construction contract included in trade receivables
671,681
2,813,783
18.
Inventories
Group
2014
2013
$
$
Balance sheet:
Materials, components and spares
2,511,999
5,573,492
Thecostof thegoodssold reported in thestatementof comprehensive incomesubstantially relates to Inventory
andWork-in-Progress recognised as an expense for the year including inventories writtendown amounting to
$1,950,000 (2013:Nil).
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31December 2014
