96
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2014
NOTES TO THE
FINANCIAL STATEMENTS
for the financial year ended 31 December 2014
18.
TRADE AND OTHER RECEIVABLES (CONT’D)
Receivables that are past due but not impaired
The Group has trade receivables amounting to $8,808,000 (2013: $24,236,000) that are past due at
the balance sheet date but not impaired. These receivables are unsecured and the analysis of their
aging at the balance sheet date is as follows:
Group
2014
2013
$’000
$’000
Trade receivables past due:
– Less than 30 days
4,415
14,444
– 30 – 60 days
2,521
6,297
– 61 – 90 days
838
1,564
– 91 – 120 days
270
1,249
– More than 120 days
764
682
8,808
24,236
Receivables that are impaired
Receivables that are impaired at the balance sheet date and the movement of the allowance accounts
used to record the impairment are as follows:
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Trade receivables
Trade receivables - nominal amounts
3,099
447
2,144
313
Less: Allowance for impairment
(3,099)
(447)
(2,144)
(313)
–
–
–
–
Movement in allowance accounts:
Balance at 1 January
447
3,524
313
3,423
Charge for the year
2,714
332
1,836
50
Written back
(45)
(21)
–
(1)
Bad debts written off against
allowance
(7)
(3,387)
(5)
(3,387)
Exchange differences
(10)
(1)
–
228
Balance at 31 December
3,099
447
2,144
313
