annual report - Harvey Norman Company Reports & Announcements
annual report - Harvey Norman Company Reports & Announcements
annual report - Harvey Norman Company Reports & Announcements
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)<br />
9. Intangible Assets (Current)<br />
10. Trade and Other Receivables (Non-Current)<br />
Trade debtors (a) 384 440<br />
Consumer finance loans (b) 1,307 1,518<br />
Provision for doubtful debts (b) (14) (16)<br />
Amounts receivable in respect of finance leases<br />
Total trade and other receivables (non-current)<br />
(a) Trade debtors<br />
1,677<br />
8,879<br />
10,556<br />
For terms and conditions, allowance for doubtful debts and collateral held for trade debtors refer to Note 5.<br />
(b) Consumer finance loans and allowance for doubtful debts<br />
Majority of the consumer finance loans are non-interest bearing and are generally on 6 to 48 months interest free<br />
terms.<br />
1,942<br />
12,596<br />
14,538<br />
An impairment loss of $0.014 million (2011: $0.016 million) has been recognised by the consolidated entity in the<br />
current year for the consumer finance loans. These amounts have been included in the other expenses line item in<br />
the Income Statement.<br />
If a customer has missed a repayment in a consumer finance loan, the remaining balance of the consumer finance<br />
loan is treated as past due. Included in the consolidated entity‟s current and non-current consumer finance loans,<br />
$0.47 million (2011: $0.54 million) are past due at the <strong>report</strong>ing date for which the consolidated entity has not<br />
provided for. It is the consolidated entity‟s responsibility to collect the outstanding receivables from customers. In an<br />
event where the consolidated entity cannot collect the outstanding receivables from customers, the consolidated<br />
entity has recourse to franchisees for reimbursement of receivables. For consumer finance loans initiated from the<br />
consolidated owned stores, there has not been a significant change in credit quality and therefore the consolidated<br />
entity believes that the amounts are still considered recoverable. The consolidated entity does not hold any collateral<br />
over these balances.<br />
Other balances within consumer finance loans do not contain impaired assets and are not past due. It is expected<br />
that these balances will be received when due.<br />
At 30 June, the ageing analysis of current and non-current consumer finance loans is as follows:<br />
Neither<br />
past due<br />
nor<br />
impaired<br />
Past due but not impaired Past due and impaired<br />
31-60<br />
Days<br />
61-90<br />
Days<br />
+90<br />
Days<br />
31-60<br />
Days<br />
61-90<br />
Days<br />
C O N S O L I D A T E D<br />
2012 2011<br />
$000 $000<br />
Net Licence Property 531 322<br />
+90<br />
Days Total<br />
2012 ($000) 3,695 247 50 175 - - 14 4,181<br />
2011 ($000) 3,930 163 180 199 - - 16 4,488<br />
83
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