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Note 2. Financial Position

Defence Service Homes Insurance Scheme
Notes to and forming part of the Financial Statements

for the period ended 30 June 2018

 

This section analyses the DSHIS's assets used to generate financial performance and the operating liabilities incurred as a result. Employee related information is disclosed in the People and Relationships section.

Note 2.1. Financial Assets

  2018 2017
  $'000 $'000
Note 2.1A: Cash and cash equivalents    
Cash at bank 3,198 2,642
Total cash and cash equivalents 3,198 2,642

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  2018 2017
  $'000 $'000

Receivables past 90 days are not considered impaired as policies are cancelled after this period if not paid.

Note 2.1B: Trade and other receivables    
Goods and services receivables    
    Premiums receivable 14,735 13,440
Other receivables    
    GST receivable 201
    Recoveries receivable 871 2,050
    Interest receivable 508 603
Total trade and other receivables 16,114 16,294

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  2018 2017
  $'000 $'000
Monies invested in term deposits and negotiable certificates of deposit with various approved institutions under Section 58 of the Public Governance, Performance and Accountability Act 2013.
Note 2.1C: Investments    
Deposits 64,297 62,169
Total investments 64,297 62,169

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Note 2.2. Non-Financial Assets

Note 2.2A: Reconciliation of the opening and closing balances of intangibles
  Intangibles
  $'000
Reconciliation of the opening and closing balances of intangibles for 2018  

No intangibles are expected to be sold or disposed of within the next 12 months.

As at 1 July 2017  
Gross book value 4,088
Accumulated amortisation and impairment (3,783)
Total as at 1 July 2017 305
   
Amortisation expense (75)
Total as at 30 June 2018 230
   
Total as at 30 June 2018 represented by  
Gross book value 4,088
Accumulated amortisation and impairment (3,858)
Total as at 30 June 2018 230

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  2018 2017
  $'000 $'000
No indicators of impairment were found for other non-financial assets.
1.  Refer to Overview section for details.
Note 2.2B: Other non-financial assets    
Prepaid fire brigade and emergency services contributions1
Other prepayments 98 48
Total other non-financial assets 98 48

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Note 2.3. Payables

  2018 2017
  $'000 $'000
Settlement is usually made net 30 days.
Note 2.3A: Suppliers    
Trade creditors 4,440 4,202
Accrued expenses 1,832 2,254
Total suppliers 6,272 6,456

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  2018 2017
  $'000 $'000
Settlement is usually made net 30 days.
Note 2.3B: Other payables    
Reinsurance premiums 388 366
GST payable 23
Total other payables 411 366

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