Baker Technology LimitedAnnual Report 2014
125
22.
Trade andother payables
Group
Company
2014
2013
2014
2013
$
$
$
$
Tradepayables
3,299,447
3,455,244
–
–
Other payables
9,846,957
8,283,225
624,986
1,372,274
Total trade andother payables
13,146,404
11,738,469
624,986
1,372,274
Trade andother payables
(excludingprovision for warranty)
8,288,266
7,479,469
624,986
1,372,274
Total financial liabilities carried at
amortised cost
8,288,266
7,479,469
624,986
1,372,274
Tradepayables arenon-interest bearing and arenormally settledon30 to 90days’ terms.
TheGroup’sotherpayables includesaprovision forwarrantyofapproximately$4,858,000 (2013:$4,259,000).
During the financial year, the Group provided an additional amount of approximately $189,000 (2013:
$2,044,000). In linewith theGroup’spolicyasdiscussed inNote2.15, theadditional provision in2014and in
2013 for warrantywere resulted from the annual revision.
Tradepayables denominated in foreign currencies at 31December are as follows :-
Group
2014
2013
$
$
UnitedStates dollar
279,374
780,195
Euro
826,281
67,721
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31December 2014
