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CHINESE SWIMMING CLUB
Notes To The Financial Statements For The Financial Year Ended 31 December 2022
6. CASH AND BANK BALANCES
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Fixed deposits have maturity periods of between 3 to 12 months (2021: 1 to 12 months) after the end of the reporting period and earn effective interest of 1.06% (2021: 0.48%) per annum.
7. TRADE AND OTHER RECEIVABLES
The average credit period for members’ accounts in debit is 1 month (2021: 1 month). No interest is charged on these accounts.
*This amount relates to treasury bills amounting to $1,986,520 that matured in November 2022. The settlement sum was received in January 2023.
