smartone+2010

smartone+2010 - Notes to the Consolidated Financial...

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Unformatted text preview: Notes to the Consolidated Financial Statements (Expressed in Hong Kong dollars) 24 Trade and other receivables Group Company 2010 2009 2010 2009 $000 $000 $000 $000 (Note 37) Trade receivables 216,349 181,574 — — Less: provision for impairment of trade receivables (11,890) (11,890) (12,815) (12,815 ) — — Trade receivables - net 204,459 168,759 — — Deposits and prepayments 236,582 224,377 2,308 156 58,772 25,798 276 218 449,813 418,934 2,584 374 (95,547) (93,682) — — 404,266 325,252 2,584 374 Other receivables Less: deposits and prepayments included under non-current assets Current assets As at 30 June 2010, deposits of $102,061,000 (2009: $97,428,000) were not due and there is no concentration of credit risk with respect to deposits, as the Group has placed deposits to a large number of debtors. The maximum exposure to credit risk at the reporting date is the carrying amount of deposits, trade and other receivables. The credit periods granted by the Group to its customers generally range from 15 days to 45 days from the date of invoice. An ageing analysis of trade receivables, net of provisions, is as follows: Group 2010 Current to 30 days 2009 $000 $000 180,478 146,988 31 - 60 days 16,174 14,075 61 - 90 days 3,997 4,312 Over 90 days 3,810 3,384 204,459 168,759 There is no concentration of credit risk with respect to trade receivables, as the Group has a large number of customers. The Group has recognised a loss of $10,815,000 (2009: $12,347,000) for the impairment of its trade receivables during the year $10,815,000 ended 30 June 2010. The loss has been included in other operating expenses in the consolidated profit and loss account. 80 ...
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This note was uploaded on 07/30/2011 for the course ACT 101 taught by Professor Ben during the Spring '11 term at HKU.

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