AUB Group Limited Annual Report 2023

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023

14 IMPAIRMENT (CONTINUED) Impairment - current year

Phase I -Targeting Phase 2 - Screening

Phase 3 - Detailed review

Phase 4 -Low Head Room

No impairment

Impairment

All other entities

1 Entity

2 Entities

Two cash generating unit were assessed to be impaired during the current year by $6.34m. One CGU remains on the watchlist due to low headroom. One CGU was removed from the watchlist. No CGUs were added to the watchlist. Impairment - previous year

Phase I -Targeting Phase 2 - Screening

Phase 3 - Detailed review

Phase 4 -Low Head Room

No impairment

Impairment

All other entities

2 Entities

2 Entities

1 Entity

One cash generating unit was assessed to be impaired during the previous year by $8.44m. Two CGUs remain on the watchlist due to low headroom. No CGUs were added to the watchlist

15 TRADE AND OTHER PAYABLES Liabilities for trade creditors and other amounts are carried at amortised cost which is the fair value of the consideration to be paid in the future for goods and services received, whether or not billed to the entity. Payables to related parties are carried at the principal amount. Interest, when charged, is recognised as an expense on an accrual basis. Payables are normally settled on 90 day terms. The Group recognises amounts due to insurers for premiums collected but yet to be transferred to the insurer. As at 30 June 2023

Later than 1 year and not later than 5 years $’000

6 months to no later than 1 year $’000

Later than 5 years/No maturity $’000

Due not later than 6 months $’000

Total $’000

Trade payables and accruals

53,782

– – – – –

– – – – –

– – – – –

53,782

Amount payable on broking/agency operations

932,983

932,983

Related party payables

3,387

3,837

Other payables

59,965

59,965

Total trade and other payables

1,050,117

1,050,117

As at 30 June 2022

Later than 1 year and not later than 5 years $’000

6 months to no later than 1 year $’000

Later than 5 years/No maturity $’000

Due not later than 6 months $’000

Total $’000

Trade payables and accruals

42,100 354,176

– – – – –

– – – – –

– – – – –

42,100 354,176

Amount payable on broking/agency operations

Related party payables

1,130

1,130

Other payables

10,245

10,245

Total trade and other payables

407,651

407,651

AUB GROUP ANNUAL REPORT 2023

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