Note 18 - Other Receivables and Restricted Cash

12 Months Ended

Mar. 31, 2018

Statement Line Items [Line Items]

Disclosure of trade and other receivables [text block]

18 OTHER RECEIVABLES AND RESTRICTED CASH

	AS OF MARCH 31, 2018 $000’ s			AS OF MARCH 31, 2017 $000’ s
CURRENT ASSETS
Trade receivables		89,345			42,413
Sales and doubtful debts allowance		(4,552	)		(943	)
NET TRADE RECEIVABLES		84,793			41,470
Other receivables and deposits		2,369			1,753
Prepayments		5,246			1,680
Restricted cash amounts		35,000			—
OTHER RECEIVABLES		42,615			3,433
NON CURRENT ASSETS
Other receivables		2,200			1,804
Restricted cash amounts		727			2,882
OTHER RECEIVABLES AND RESTRICTED CASH		2,927			4,686

The average credit period taken on sales is

79

days (

2017:

67

days).

Refer to the financial instruments note

28

for information on credit risk.

Movement in the allowance for doubtful debts is as follows:

	AS OF MARCH 31, 2018 $000’ s			AS OF MARCH 31, 2017 $000’ s
Balance at beginning of the Period		943			1,421
Receivables written off during the year as uncollectible		(1,068	)		(973	)
Allowance related to beginning balances of acquired subsidiaries		3,991			—
Provision for receivables impairment		686			495
Balance at end of the Period		4,552			943

Aging of Past Due but

Not

Impaired Receivables

As of

March 31, 2018,

trade receivables of

$32.6

m (

2017:

$5.9

million) were past due but

not

impaired. These relate to a number of independent customers for whom there is

no

recent history of default. The aging analysis of these trade receivables is as follows:

	AS of MARCH 31, 2018 $000’ s		AS of MARCH 31, 2017 $000’ s
1 – 90 days		26,578		5,399
in excess of 90 days		6,071		547
Total past due but not impaired		32,649		5,946

Aging of Past Due and Impaired Receivables

As of

March 31, 2017,

trade receivables of

$4.6

million (

2017:

$0.9

million) were impaired. The aging of these receivables is as follows:

	AS OF MARCH 31, 2018 $000’ s		AS OF MARCH 31, 2017 $000’ s
1 – 90 days		162		5
in excess of 90 days		4,390		938
Total past due and impaired		4,552		943

The Directors have considered the credit quality of assets neither past due nor impaired and do

not

consider further credit provision is required in excess of the allowance for sales and doubtful debts.

No

interest has been charged for overdue debts in the period.

The Directors consider that the carrying amount of trade and other receivables approximates their fair value.

(ii) Cash and Cash Equivalents

Cash and cash equivalents comprise cash held by the Group and short-term bank deposits with an original maturity of

one

month or less. The carrying amount of these assets approximates their fair value.

(iii) Restricted Cash

Restricted cash of

$0.7

million within non-current assets represents deposits with financial institutions as a condition of certain property leases and restricted cash of

$35.0

million within current assets represents cash collateral against the term loan which was utilized to fund a portion of the cash consideration related to the YuMe transaction The non-current asset classification is due to the cash

not

being immediately accessible by the Group due to the long-term nature of the leases. The current asset classification is due to the short-term nature of the term loan.