122 / 152
Notes to the
financial statements
For the financial year ended 31 December 2018
120
B A K E R T E C H N O L O G Y
L I M I T E D
17.
Inventories and work-in-progress
Group
31.12.2018
31.12.2017 1.1.2017
$’000
$’000 $’000
Balance sheet:
Materials, components and spares (at cost)
765
634 473
Bunkering stocks (at cost)
411
–
–
Work-in-progress (at cost)
–
– 84,958
1,176
634 85,431
The cost of the goods sold reported in the statement of comprehensive income substantially
relates to materials, components and spares recognised as an expense for the year including
inventories written down amounting to $32,000 (2017: $501,000).
18.
Trade and other receivables
Group
Company
31.12.2018
31.12.2017 1.1.2017
31.12.2018
31.12.2017 1.1.2017
$’000
$’000 $’000
$’000
$’000 $’000
Trade receivables – net
21,323
1,702 4,132
–
832
Deposits
172
63
119
–
–
–
Downpayment for capital
expenditure
–
–
313
–
–
–
GST recoverable
500
153 382
10
–
77
Sundry receivables
1,295
761
651
–
–
94
Interest receivables
26
52
86
9
52
86
Total trade and other
receivables (current)
23,316
2,731 5,683
19
52 1,089
Trade and other
receivables (excluding
GST recoverable and
downpayment for capital
expenditure) (current)
22,816
2,578 4,988
9
52 1,012
Amount due from
subsidiaries (Note 19)
–
–
–
165,769
100,641 93,074
Loan to associate
(Note 14)
9,268
–
–
–
–
–
Cash and short-term
deposits (Note 20)
28,920
86,642 106,956
14,575
79,872 99,157
Total financial assets
carried at amortised cost
61,004
89,220 111,944
180,353
180,565 193,243
Trade receivables are non-interest bearing and are generally on 30 to 90 days’ terms. They are
recognised at their original invoiced amounts which represent their fair values on initial recognition.