Annual Report 2011 - Mandarin Oriental Hotel Group

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62 Mandarin Oriental International Limited Notes to the Financial Statements Continued 14 Debtors and prepayments continued At 31st December 2011, trade debtors of US$1.9 million (2010: US$2.1 million) were impaired. The amount of the provision was US$1.8 million (2010: US$1.9 million). It was assessed that a portion of the debtors would be recoverable. The ageing analysis of these trade debtors is as follows: Trade debtors 2011 2010 US$m US$m Below 30 days 0.1 0.1 Between 31 and 60 days 0.5 0.1 Between 61 and 90 days 0.1 0.2 Over 90 days 1.2 1.7 1.9 2.1 At 31st December 2011, trade debtors and other debtors of US$6.1 million (2010: US$14.1 million) were past due but not impaired. The ageing analysis of these trade debtors and other debtors is as follows: Below 30 days 2.4 4.2 Between 31 and 60 days 2.0 1.6 Between 61 and 90 days 0.2 0.4 Over 90 days 1.5 7.9 6.1 14.1 The risk of trade debtors and other debtors that are neither past due nor impaired at 31st December 2011 becoming impaired is low as the majority of the balances have been settled subsequent to year end. Based on past experience, management believes that no impairment allowance is necessary in respect of these balances as there has not been a significant change in credit quality and the balance are still considered fully recoverable. Movements on the provision for impairment are as follows: Trade debtors Other debtors 2011 2010 2011 2010 US$m US$m US$m US$m At 1st January (1.9 ) (2.2 ) (3.4 ) (3.4 ) Additional provisions (0.6 ) (0.1 ) (0.6 ) (0.1 ) Reversal – 0.1 – – Amount written off 0.7 0.3 – 0.1 At 31st December (1.8 ) (1.9 ) (4.0 ) (3.4 )
15 Cash at bank Annual Report 2011 63 2011 2010 US$m US$m Deposits with banks and financial institutions 410.9 387.4 Bank balances 57.8 45.2 Cash balances 1.4 0.9 470.1 433.5 Analysis by currency Euro 4.6 10.6 Hong Kong dollar 10.1 4.2 Japanese yen 10.4 9.2 Swiss franc 3.3 2.4 United Kingdom sterling 16.7 11.8 United States dollar 412.8 388.8 Other 12.2 6.5 470.1 433.5 The weighted average interest rate on deposits with banks and financial institutions is 0.6% (2010: 0.4%) per annum. 16 Creditors and accruals 2011 2010 US$m US$m Trade creditors 32.5 25.5 Accruals 68.3 57.0 Rental and other refundable deposits 11.1 7.5 Other creditors 10.8 6.7 Rental income received in advance 1.1 0.8 Other income received in advance 4.4 4.4 128.2 101.9 Analysis by currency Euro 15.3 3.9 Hong Kong dollar 49.3 41.7 Japanese yen 12.1 12.9 Swiss franc 4.4 5.2 United Kingdom sterling 14.8 9.5 United States dollar 25.0 20.6 Other 7.3 8.1 128.2 101.9 The fair value of creditors approximate their carrying amounts.
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Annual Report 2011 - Mandarin Oriental Hotel Group

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