SEO Version
Stamford Tyres Corporation Limited
Annual Report 2013
73
Notes to the Financial Statements
30 April 2013
(In Singapore dollars)
P
ERFORMANCE
S
TEERING
FOR
18.
Trade receivables (cont’d)
Receivables that are past due but not impaired
The Group has trade receivables amounting to $26,262,000 (2012: $23,150,000) that are past due at the end of
the reporting period but not impaired. These receivables are unsecured and the analysis of their aging at the end
of each reporting period is as follows:
Group
2013
2012
$’000
$’000
Trade receivables past due:
Lesser than 30 days
7,374
6,095
30 - 60 days
4,688
4,483
61 - 90 days
3,849
3,043
91 - 120 days
2,509
1,770
More than 120 days
7,842
7,759
26,262
23,150
Receivables that are impaired
The Group’s trade receivables that are impaired at the end of each reporting period and the movement of the
allowance accounts used to record the impairment are as follows:
Group
2013
2012
$’000
$’000
Trade receivables – nominal amounts
7,754
6,030
Less: Allowance for doubtful trade receivables
(7,754)
(6,030)
–
–
Movement in allowance accounts:
At 1 May
6,030
6,008
Charge for the year
2,522
560
Written-off against allowance
(754)
(381)
Foreign currency translation adjustment
(44)
(157)
At 30 April
7,754
6,030
For the year ended 30 April 2013, an impairment loss of $2,522,000 (2012: $560,000) was recognised in profit or
loss subsequent to a debt recovery assessment performed on trade receivables as at 30 April 2013.
Powered by FlippingBook Publisher