122
Baker Technology LimitedAnnual Report 2014
19.
Trade andother receivables
Group
Company
2014
2013
2014
2013
$
$
$
$
Trade receivables
5,848,106
12,292,299
–
–
Deposits
364,660
477,780
–
7,000
Downpayment for capital expenditure
800,577
–
–
–
Tax recoverable
463,611
343,558
–
86,080
Sundry receivables
3,005
78,073
–
–
Interest receivables
111,000
–
111,000
–
Total trade andother receivables
7,590,959
13,191,710
111,000
93,080
Tradeandother receivables (excluding
tax recoverableanddownpayment
for capital expenditure)
6,326,771
12,848,152
111,000
7,000
Amountdue fromsubsidiaries (Note20)
–
–
6,011,065
5,478,265
Cashandshort-termdeposits (Note21)
168,685,403
205,871,055
136,570,272
156,810,290
Total loans and receivables
175,012,174
218,719,207
142,692,337
162,295,555
Trade receivables arenon-interest bearing and aregenerally on 30 to 90days’ terms. They are recognised
at their original invoiced amountswhich represent their fair values on initial recognition.
TheGroup’s trade receivables denominated in foreign currencies at 31December are as follows:
Group
2014
2013
$
$
UnitedStates dollar
5,806,612
9,478,516
Euro
–
2,813,783
At the endof the reportingperiod, trade receivable amounting to $1,673,266 (2013: $Nil) was arranged to
be settled via letter of credits issuedby a reputablebank in the countrywhere the customer was based.
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31December 2014
