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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2010 (Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated) (Continued) 8. Goodwill In accordance with International Financial Reporting Standard 3: “Business Combinations”, goodwill acquired through business combinations has been allocated to the <strong>Group</strong>’s cash generating units that are expected to benefit from the synergies of the combination. Impairment is determined by assessing the recoverable amount of the cash generating units to which goodwill relates. Goodwill represents that arising from the acquisition of Premix & Precast Concrete Incorporated (PPCI) in 2002 as follows: 2010 2009 $ $ Goodwill at cost 1,764 1,764 Accumulated impairment – – Net carrying amount 1,764 1,764 Impairment testing of goodwill As required by IAS 36: Impairment of assets goodwill is subject to an annual impairment test. The following table highlights the goodwill and impairment information used in the impairment test performed at 31 December 2010: Carrying amount of goodwill 1,764 Basis of recoverable amount Value in use Discount rate 10.5% Cash flow projection term 5 years Growth rate (extrapolation period) 1.0% The values assigned to key assumptions reflect past experience. The recoverable amount of business units has been determined based on value-in-use calculations using pre-tax cash flow projections based on financial budgets approved by senior management and the Board of Directors. 2010 2009 $ $ 9. Inventories Raw materials and work in progress 38,158 31,744 Plant spares and consumables 9,254 11,123 47,412 42,867 Inventories are shown net of provisions of $1.160 million (2009: $1.160 million) in relation to plant spares and consumables. Inventories charged against operating profit is disclosed in Note 3. 28 BUILD TO LAST FOR GENERATIONS
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2010 (Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated) (Continued) 2010 2009 $ $ 10. Receivables and prepayments Trade receivables 63,880 81,772 Less: provision for doubtful debts (18,788) (18,340) Trade receivables (net) 45,092 63,432 Sundry receivables and prepayments 790 2,437 Due from related parties (Note 18 (a)) 15,683 5,989 Deferred expenditure 1,139 420 Corporation tax recoverable 4,185 3,122 66,889 75,400 As at 31st December, the aging analysis of trade receivables is as follows: Past due but not impaired Neither past Over Total due nor impaired 1-90 days 91-180days 180 days $ $ $ $ $ 2010 45,092 4,035 6,753 2,420 31,884 2009 63 432 7,954 16,119 16,298 23,061 As at 31 December, trade receivables at a value of $18.8 million (2009: $18.3 million) were impaired and provided for. Movements in the provision for impairment of receivables were as follows: 2010 2009 $ $ At 1st January 18,340 15,733 Charge for the year 5,107 3,573 Unused amounts reversed (198) (966) 23,249 18,340 Discontinued operations (4,461) – At 31 December 18,788 18,340 29 BUILD TO LAST FOR GENERATIONS
Page 2 and 3: One of the most famous sites in the
Page 4 and 5: 2 BUILD TO LAST FOR GENERATIONS (L-
Page 6 and 7: (L-R) 1 Mr. Richard Dash (Materials
Page 8 and 9: CHAIRMAN’S REVIEW - 2010 RML Grou
Page 10 and 11: DIRECTORS’ & SUBSTANTIAL INTEREST
Page 12 and 13: CONSOLIDATED STATEMENT OF FINANCIAL
Page 14 and 15: CONSOLIDATED STATEMENT OF COMPREHEN
Page 16 and 17: CONSOLIDATED STATEMENT OF CASH FLOW
Page 18 and 19: NOTES TO THE CONSOLIDATED FINANCIAL
Page 48 and 49: REPUBLIC OF TRINIDAD AND TOBAGO The
Page 50 and 51: Fold here Affix STAMP Here To Regis
Page 52: Build to last for Generations

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