NOTES TO THE FINANCIAL STATEMENTS
7 Investment in jointly-controlled entity (Cont’d)
The Group’s share of the jointly-controlled entity’s lease commitments is as follows:
2014
2013
$’000
$’000
Non-cancellable operating lease rental receivable:
– Within 1 year
1,089
1,035
– After 1 year but within 5 years
6,477
6,160
– After 5 years
27,844
29,250
35,410
36,445
Non-cancellable operating lease payable:
Gross
amount
(5)
Borne by
tenants
Net
amount
(6)
$’000
$’000 $’000
2014
Land rents
JTC
20,828
(6,166)
14,662
2013
Land rents
JTC
22,602
(6,691)
15,911
(5)
This represents the land rents payable to JTC for the period from 1 May 2029 to the end of the land lease on 30 April 2059.
(6)
This represents the amount of land rent payable to JTC from 19 March 2038 to 30 April 2059, all of which is due after 5 years from the reporting
date. Land rents payable prior to this period have been paid by the previous vendor or are payable by the tenant during the lease term.
8 Trade and other receivables
Group and Trust
2014
2013
$’000
$’000
Current assets
Trade receivables (gross)
2,308
1,641
Impairment losses
(1,197)
–
Trade receivables (net)
1,111
1,641
Deposits
3,373
604
Other receivables
1,717
2,409
Loans and receivables
6,201
4,654
Prepayments
4,701
2,500
Option fees paid
–
150
10,902
7,304
Non-current asset
Deposits
–
1,820
Total trade and other receivables
10,902
9,124
The Group’s primary exposure to credit risk arises through its trade and other receivables. The Group has a credit
policy in place and the exposure to credit risk is monitored on an ongoing basis.
Concentration of credit risk relating to trade receivables is limited due to the Group’s large number and diverse
range of tenants. The maximum exposure to credit risk for trade and other receivables is represented by the
carrying amount at the reporting date.
CAMBRIDGE INDUSTRIAL TRUST | A WINNING FORMULA
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