Trade and other receivables of $26,608,430. The most significant...

Trade and other receivables of $26,608,430. The most significant items comprising this value are trade debtors of $12,296,953 reflecting the growth in the Company’s sales towards the end of the second half, and convertible notes receivable of $8,584,286.

Inventories of $7,808,509, largely due to above budget stocks of cheese as a results of the Company’s decision to produce and release “aged” hard cheese products to the market in due course (which can earn significantly higher margins). This was also in part due to the Company making a decision to take in additional milk as part of its Cheese Bank initiative in order to assist the dairy industry in coping with the “milk crisis” which emerged in the second half of the year

Further Note:

Trade Receivables - These billings are typically documented on formal invoices, which are summarized in an accounts receivable aging report. This report is commonly used by the collections staff to collect overdue payments from customers. In the general ledger, trade receivables are recorded in a separate accounts receivable account, and are classified as current assets on the balance sheet if you expect to receive payment from customers within one year.

Accounts Receivable - money owed to a company by its debtors.