|Receivable from related party||1,110||1,187|
(a) Past due but not impaired
As of 30 June 2016, trade receivables of $6,087,131 (2015: $1,659,731) were past due but not impaired. These relate to a number of independent customers for whom there is no recent history of default. The ageing analysis of these trade receivables is as follows:
Not past due
Past due 0- 30 days
Past due 31- 60 days
Past due 61- 90 days
Past due 91 days or more
(b) Foreign exchange and interest rate risk
Information about the entity’s exposure to foreign currency risk and interest rate risk in relation to trade and other receivables is provided in Note 2.
(c) Fair value and credit risk
Due to the short-term nature of these receivables, their carrying amount is assumed to approximate their fair value.
The maximum exposure to credit risk at the reporting date is the carrying amount of each class of receivables mentioned above. Refer to Note 2 for more information on the risk management policy of the entity and the credit quality of the entity’s trade receivables.
(d) Receivable from related party
As at 30 June 2016, receivable from related party consists of an advance on distributions to Queensland Cricket.