Urbanise.com Annual Report 2019

Annual Report 2019 Urbanise.com Limited 11. Trade receivables, other receivables and contract assets (continued) Contract assets As at 30 June 2019, the Group has contract assets of $ 156,937 (2018: $ Nil) which is net of an allowance for expected credit losses which are immaterial (2018: immaterial). Set out below is the movement in the allowance for expected credit losses of trade receivables and contract assets: 2019 $ 2018 $ Current As at 1 July 128,068 3,362,173 Amounts written off (150) (2,848,522) Charge/(reversal) for the year 115,261 (385,583) Closing balance at 30 June 243,179 128,068 Non-current Opening balance at 1 July 135,202 2,203,212 Amounts written off (135,202) (2,041,343) Charge/(reversal) for the year – (26,667) As at 30 June – 135,202 The Group does not hold any collateral in relation to any trade or other receivable. 12. Other assets 2019 $ 2018 $ Prepayments 133,095 151,770 Deposits 662,452 691,971 Total other current assets 795,547 843,741 Other Non-Current assets 52,000 – Notes to the Consolidated Financial Statements for the year ended 30 June 2019 (continued) 64