inter roller fa final

Notes to the Financial Statements13 Other receivablesThe GroupThe Company2004 2003 2004 2003$ $ $ $Staff loans 91,950 132,770 91,950 132,770- repayable after one year (41,540) (59,820) (41,540) (59,820)- repayable within one year 50,410 72,950 50,410 72,950Prepayments 169,808 99,150 112,775 63,549Deposits 150,534 37,767 77,631 37,767Sundry debtors 417,666 535,511 417,666 535,391Less:788,418 745,378 658,482 709,657Provision for doubtful debt:Balance at beginning of year 254,545 254,545 254,545 254,545Provision no longer required (10,221) - (10,221) -Provision for the year 9,093 - 9,093 -Provision written offduring the year (244,324) - (244,324) -Balance at end of year 9,093 254,545 9,093 254,545779,325 490,833 649,389 455,112Staff loans are granted to employees mainly to assist them with the purchase of motor vehicles. The loans areinterest-free, unsecured and are repayable in monthly instalments ranging from $730 to $1,190.14 InventoriesThe GroupThe Company2004 2003 2004 2003$ $ $ $Inventory under construction, at cost 1,593 3,260 1,593 324Raw materials, at cost 1,539,221 1,792,030 1,009,535 1,489,045Raw materials, at net realisable value 23,893 24,401 23,893 24,4011,564,707 1,819,691 1,035,021 1,513,770During the year, provision for obsolete inventories of $482 (2003 - $58,833) for the Group and the Companywas written back to the income statement due to the recovery in net realisable value of these inventories.60 inter-roller engineering limited annual report2004