Page 51 - GMT and GMT Bond Issuer Annual Report 2017

NOTES TO THE
6. ADMINISTRATIVEEXPENSES(CONTINUED)
6.3 Administrative expenses incurred but not included in operating earnings
FINANCIAL
These expenses, while excluded from GMT’s non-GAAP operating earnings measure, are included in other income / (expenses) within Pro t or Loss.
STATEMENTS
$ million
Manager’s base fee expected to be reinvested in units
Total administrative expenses incurred but not included in operating earnings
2017 2016
(7.7) (6.3)
(7.7) (6.3)
continued
For the year ended 31 March 2017
7. DEBTORSANDOTHERASSETS
$ million
Current
Debtors 0.7 4.7 Prepayments 1.3 1.3
Interest receivable
Other assets
Total debtors and other assets
2017 2016
8.0 1.3 3.4 0.8
13.4 8.1
ACCOUNTING POLICIES
Debtors and other assets are initially recognised at fair value and subsequently measured at amortised cost. They are adjusted for expected impairment losses. Discounting is not applied to receivables where collection is expected to occur within the next twelve months.
A provision for impairment is recognised when there is objective evidence that GMT will be unable to collect amounts due. The amount provided is the difference between the carrying amount and expected recoverable amount. There were no material provisions for impairment in the year (2016: none).
8. CREDITORSANDOTHERLIABILITIES
$ million
Current
Creditors 0.5 0.8
2017 2016
Interest payables
Related party payables
Accrued capital expenditure
Other liabilities
Total creditors and other liabilities
5.3 5.3
2.1 4.1 15.4 19.8 4.3 4.0
27.6 34.0
ACCOUNTING POLICIES
Creditors and other liabilities are initially recognised at fair value and subsequently measured at amortised cost. All payments are expected to be made within the next twelve months.
GOODMAN PROPERTY TRUST ANNUAL REPORT 2017 FINANCIAL STATEMENTS
49 NOTES TO THE FINANCIAL STATEMENTS