CGE ANNUAL REPORT

2022/23 ANNUAL REPORT

Financial Statements for the year ended 31 March 2023

Accounting Policies

1.10.2 Defined contribution plans This contribution expense is measured at the undiscounted amount of the contribution paid or payable to the fund. 1.10.3 Termination Benefits Termination benefits are measured at their undiscounted costs in the period the employee service is terminated.

1.11

Financial instruments

1.11.1 Measurement

The entity measures all financial assets and financial liabilities after initial recognition using the amortised cost. All financial assets measured at amortised cost are subject to an impairment review.

1.11.2 Financial assets

The entity’s principle financial assets are accounts receivable and cash and cash equivalents, which are classified as financial instruments at amortised cost.

1.11.3 Receivables

Receivables are subsequently stated at amortised cost, less provision for impairment. All receivables are assessed at least annually for possible impairment. Impairments of receivables are determined in accordance with the accounting policy for impairments. Impairment adjustments are made through the use of an allowance account.

Bad debts are written off in the year in which they are identified as irrecoverable. Amounts receivable within 12 months from the reporting date is classified as current.

1.11.4 Cash and cash equivalents

Cash and cash equivalents are measured at amortised cost.

Cash includes cash on hand and cash with banks. Cash equivalents are short-term highly liquid investments that are held with registered banking institutions with maturities of three months or less and are subject to an insignificant risk of change in value.

For the purposes of the Cash Flow Statement, cash and cash equivalents comprise cash on hand and deposits held on call with banks.

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