Urbanise.com Annual Report 2019

Annual Report 2019 Urbanise.com Limited 7. Revenue from contracts with customers (continued) Geographical markets For the year ended 30 June 2018 Strata Facilities Utilities Other Total APAC 2,339,586 661,276 – 183,060 3,183,922 E/ME 1,710,713 368,382 – 216,661 2,295,756 Africa 223,775 18,132 235,883 26,983 504,773 ROL Reversal (i) (540,811) – – (540,811) Total revenue 3,733,263 1,047,790 235,883 426,704 5,443,640 Timing of revenue recognition For the year ended 30 June 2018 Strata Facilities Utilities Other Total Goods transferred at a point in time – – 76,543 185,329 261,872 Services transferred over time 3,733,263 1,047,790 159,340 241,375 5,181,768 Total revenue 3,733,263 1,047,790 235,883 426,704 5,443,640 (i) Regional operator licence recognised in 2016 reversed in 2018 due to contractual changes. Contract balances For the year ended 30 June 2019 Strata Facilities Utilities Other Total Trade receivables 750,836 1,306,938 21,350 5,662 2,084,786 Contract assets 156,937 – – – 156,937 Deferred revenue 1,522,304 913,526 – – 2,435,830 For the year ended 30 June 2018 Strata Facilities Utilities Other Total Trade receivables 914,330 1,077,355 11,911 183,709 2,187,305 Contract assets – – – – Deferred revenue 986,720 273,287 – – 1,260,007 Trade receivables are non-interest bearing and are generally on terms of 30 to 90 days. In 2019, $243,179 (2018: $263,270) was recognised as provision for expected credit losses on trade receivables and contract assets. Deferred revenue includes license revenue received in advance as well as transaction price allocated to professional services not yet completed. The remaining consideration under contracts is variable and is constrained. In 2019, deferred revenue has increased by $1,175,823 as new clients have been signed across both Strata and Facilities platforms and are currently being implemented. It also includes growth in licence revenue received in advance from existing clients. Set out below is the amount of revenue recognised from: 2019 2018 Amount included in deferred revenue at the beginning of the year 1,260,007 1,013,594 The transaction price allocated to the remaining performance obligations (unsatisfied or partially unsatisfied) as at 30 June are as follows: 2019 2018 Within one year 2,435,830 1,260,007 More than one year – – Notes to the Consolidated Financial Statements for the year ended 30 June 2019 (continued) 60