Annual Report 2010 - Leeden Limited

Leeden Limited Annual Report 2010Notes to the Financial Statementsfor the Financial Year ended 31 December 201021. Trade debtorsTrade debtors are non-interest bearing and are generally on 30 days’ terms. They are recognised at their original invoiceamounts which represent their fair values on initial recognition.Receivables that are past due but not impairedThe Group has trade debtors amounting to $30,317,000 (2009: $31,407,000) that are past due at the balance sheetdate but not impaired. These receivables are unsecured and the analysis of their ageing at the balance sheet date is asfollow:GroupCompany2010 2009 2010 2009$’000 $’000 $’000 $’000Trade debtors past due:Lesser than 30 days 10,521 15,687 1,375 1,00030 to 60 days 8,318 4,986 106 28661 to 90 days 3,945 4,387 99 164More than 90 days 7,533 6,347 383 –30,317 31,407 1,963 1,450Receivables that are impairedThe Group’s trade debtors that are impaired at the balance sheet date and the movement of the allowance accounts usedto record the impairment are as follows:GroupCollectively impairedIndividually impaired2010 2009 2010 2009$’000 $’000 $’000 $’000Trade debtors 9,686 7,880 616 938Less: Allowance for doubtful debts (1,595) (1,563) (616) (938)8,091 6,317 – –Movement in allowance accounts:At 1 January 1,563 1,255 938 1,240Exchange adjustment (135) (2) (11) –Charge for the year 303 589 241 –Written back (3) – (301) (302)Written off (133) (279) (251) –At 31 December 1,595 1,563 616 93881