McConnell Dowell 2019 Annual Review

67 Annual Review 2019 All figures are in A$ 000’s Note 2019 2018 7. Inventories Raw materials, components (at cost) 4,019 1,940 Total inventories 4,019 1,940 8. Trade and other receivables Current Trade receivables 8(a) 126,592 132,642 Retentions 3,479 18,822 Contracts in progress 8(c) 98,709 135,988 Sundry receivables 8(b) 9,339 2,143 Deposits and bonds 1,142 1,839 Receivables from associates - Dutco McConnell Dowell (ME) LLC 862 679 Receivables from other related parties 19 2,528 2,354 Provision for impairment loss - (3) Total current trade and other receivables 242,651 294,464 8(a) Trade receivables are non-interest bearing and are generally on 30 day terms. An allowance for impairment loss is made when there is objective evidence that a trade receivable is impaired. Due to the short term nature of these receivables, their carrying value is assumed to approximate their fair value. The maximum exposure to credit risk is the fair value of the receivables. Details regarding the credit risk of current receivables are disclosed in Note 22. At 30 June, the ageing analysis of trade receivables is as follows: 0-30 days 110,712 120,247 31-60 days* 5,826 5,877 61-90 days* 636 1,057 91+ days* 9,418 5,461 Total trade receivables 126,592 132,642 Expected credit losses on Trade and other receivables As at 30 June 2019, the Group has trade and other receivables of $126.6 million (2018: $132.6 million). The provision for expected credit losses on trade receivables is, in whole dollars $20,703, which is immaterial to the Group. 8(b) Sundry receivables are non-interest bearing and generally have 30 day repayment terms. Consolidated