Growthpoint Interactive Annual Report 2018

Determination of fair value The fair value of trade and other assets is estimated as the present value of future cash flows, discounted at the market rate of interest at the reporting date. This fair value is determined for disclosure purposes. Trade and other assets can be analysed as follows: 2018 2017 $’000 $’000 Current Rent receivables 538 1,335 Distribution receivables 1,244 - Prepayments 4,801 4,756 Proceeds from sale of investment properties - 4,800 6,583 10,891 Impaired rent receivables As at 30 June 2018, there were no impaired rent receivables (2017: nil). 2.6 Trade and other liabilities Accounting policies These amounts represent liabilities for goods and services provided to the Group prior to the end of the reporting period and which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other liabilities are initially recognised at fair value, net of transaction costs incurred and are subsequently measured at amortised cost. Trade and other liabilities can be analysed as follows: 2018 2017 $’000 $’000 Current Trade payables 2,340 2,350 Non-trade payables 865 586 GST payable 1,881 2,040 Accrued expenses - other 12,378 21,238 Prepaid rent 18,052 20,321 Other liabilities (i) 1,854 2,215 37,370 48,750 Non-current Non-trade payables ) 69 - 69 - (i) Other liabilities represents an obligation to fund capital expenditure by the Company as the custodian of the Charles Street Property Trust. An equal amount was received and is held as cash (see Note 2.7) 2.5 Trade and other assets (continued) Growthpoint Properties Australia 2018 Annual Report 73 Financial Report Portfolio Review Financial Management Business Overview Governance Additional Information