17.
TRADE AND OTHER RECEIVABLES (CONTINUED)
Receivables that are past due but not impaired
The Group has trade receivables amounting to $11,704,000 (2014: $8,808,000) 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
2015
2014
$’000
$’000
Trade receivables past due:
– Less than 30 days
7,586
4,415
– 30 – 60 days
3,910
2,521
– 61 – 90 days
187
838
– 91 – 120 days
19
270
– More than 120 days
2
764
11,704
8,808
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
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Trade receivables
Trade receivables – nominal amounts
3,083
3,099
2,134
2,144
Less: Allowance for impairment
(3,083)
(3,099)
(2,134)
(2,144)
–
–
–
–
Movement in allowance accounts:
Balance at 1 January
3,099
447
2,144
313
Charge for the year
211
2,714
89
1,836
Written back
(69)
(45)
–
–
Bad debts written off against
allowance
(99)
(7)
(99)
(5)
Exchange differences
(59)
(10)
–
–
Balance at 31 December
3,083
3,099
2,134
2,144
95
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2015
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
