McConnell Dowell 64 All figures are in A$000's Note 2022 2021 Current Trade receivables 7(a) 168,305 203,780 Provision for doubtful debts (112) - Retentions 5,124 4,030 Sundry receivables 7(b) 19,204 14,826 Deposits and bonds 2,626 1,501 Receivables from associates - Dutco McConnell Dowell (ME) LLC 924 1,019 Receivables from other related parties 17 2,030 2,326 Total current trade and other receivables 198,101 227,482 7(a) - Trade receivables are non-interest bearing and are generally on 30-45 day terms. Refer to expected credit losses on Trade and other receivables below for additional information. 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 20. At 30 June, the ageing analysis of trade receivables is as follows: 0-30 days 161,814 198,508 31-60 days 2,631 1,903 61-90 days 1,056 292 91+ days 2,804 3,077 Total trade receivables 168,305 203,780 Expected credit losses on Trade and other receivables As at 30 June 2022, the Group has trade and other receivables of $168.3 million (2021: $203.8 million). The provision for expected credit losses on trade receivables is, in whole dollars $5,812 (2021: $5,883). 7(b) - Sundry receivables are non-interest bearing and generally have 30 day repayment terms. 7(c) Contract assets/ (liabilities) Contract assets: Total work in progress 112,722 68,929 Contract liabilities: Total progress billings in advance 13 (139,614) (145,443) Net contract liabilities (26,892) (76,514) As at 30 June 2022, the Group has contract assets of $112.7 million (2021: $68.9 million). Impact of COVID-19 The assesment of recoverability of trade and other receivables at 30 June 2022 has considered the impacts of COVID-19 and no material recoverability issues have been identified. Consolidated Notes to the annual financial statements (continued) for the year ended 30 June 2022 7. Trade and other Receivables
RkJQdWJsaXNoZXIy Mjk0NTM=