Notes to the Financial Statements
(Cont’d)
For the year ended 30 April 2015
(In Singapore Dollars)
79
STAMFORD TYRES CORPORATION LIMITED
BUILDING ON OUR EXTENSIVE NETWORK
19. Other receivables
Group
Company
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Financial assets
Amounts due from:
- Joint venture company
–
–
55
53
- Shareholders of subsidiary companies
–
–
244
243
Sundry receivables
2,487
3,140
1
1
Deposits to suppliers
794
1,005
–
–
Staff loans
90
107
–
–
3,371
4,252
300
297
Less: Allowance for doubtful receivables
(211)
(211)
(209)
(209)
3,160
4,041
91
88
Non-financial assets
Prepayments and advances
Prepaid operating expenses
837
753
19
19
Advance payment for purchases
3,526
1,844
–
–
4,363
2,597
19
19
Movement in allowance accounts:
At 1 May
211
211
209
209
Written-off
–
–
–
–
At 30 April
211
211
209
209
The non-trade amounts due from the joint venture company and shareholders of subsidiary companies
are unsecured, interest-free and are repayable on demand.The amounts are to be settled in cash.
The deposits to suppliers are unsecured and interest-free. The deposits are refundable at the end of the
manufacturing contracts.
Staff loans are unsecured, bear interest at rates at 6.50% (2014: 6.50%) per annum and repayable within
the next 12 months.
The advance payment for purchases is unsecured, interest-free and is deductible against the amount
payable on purchases from these suppliers.
