Annual Report 2012 - HKExnews

Notes to the Consolidated Financial Statements (Continued)
15 Trade and Other Receivables
2012 2011
HK$
HK$
Trade receivables — third parties 19,792,940 29,005,610
Less: provision for impairment of trade receivables (1,328,900) (414,806)
Trade receivables — net 18,464,040 28,590,804
Prepayments, deposits and other receivables 2,662,923 8,425,657
21,126,963 37,016,461
Less non-current portion: Prepayment for acquisition of plant and equipment — (4,000,000)
Current portion 21,126,963 33,016,461
The carrying amounts of trade and other receivables approximate their fair values.
The majority of the Group’s sales are mainly on average credit terms of 60 to 90 days. Trade receivables of HK$11,657,661
(2011: HK$8,750,273) were past due but not impaired. These relate to a number of independent customers for whom
there is no recent history of default. Provision for impairment of receivables has been provided for the remaining balance of
HK$1,328,900 (2011: HK$414,806). The ageing analysis of these trade receivables is as follows:
2012 2011
HK$
HK$
Neither past due nor impaired 6,806,379 19,840,531
0–30 days past due 6,193,912 3,677,996
31–60 days past due 2,190,944 2,145,857
Over 61 days past due 3,272,805 2,926,420
Past due but not impaired (Note a) 11,657,661 8,750,273
18,464,040 28,590,804
Note:
(a)
Past due but not impaired comprised of receivables from 64 customers with 164 campaign orders.
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FOCUS MEDIA NETWORK LIMITED Annual Report 2012