enl commercial limited annual report 2011 - Investing In Africa

Notes to the Financial Statements
Year ended June 30, 2011
12 TRADE AND OTHER RECEIVABLES (continued)
The carrying amounts of trade and other receivables are denominated in the following currencies:
THE GROUP
THE COMPANY
2011 2010 2011 2010
Rs’000 Rs’000 Rs’000 Rs’000
Rupee 512,173 266,391 4,485 9,035
US Dollar 32,509 2,104 - -
Euro 11,894 210 - -
Other currencies 10 20 - -
556,586 268,725 4,485 9,035
The movement in the provision for impairment of trade receivables is as follows:
THE GROUP
THE COMPANY
2011 2010 2011 2010
Rs’000 Rs’000 Rs’000 Rs’000
At July 1, 24,081 24,278 - -
Acquisition through business combination 2,156 - - -
Provision for receivable impairment 3,514 2,551 - -
Bad debts written off during the year as
uncollectible (5,145) (2,748) - -
At June 30, 24,606 24,081 - -
The other classes within trade and other receivables do not contain impaired assets.
The maximum exposure to credit risk at the reporting date is the fair value of each class of receivable
mentioned above. The group does not hold any collateral as security.
13 AMOUNTS RECEIVABLE FROM GROUP COMPANIES
2011 2010
Loans Others Total Total
THE GROUP Rs’000 Rs’000 Rs’000 Rs’000
Holding company - 788 788 360
Fellow subsidiaries - 10,157 10,157 25,130
- 10,945 10,945 25,490
THE COMPANY
Subsidiary companies 24,500 33,836 58,336 33,509
Fellow subsidiaries - 8,464 8,464 24,189
24,500 42,300 66,800 57,698
As of June 30, 2011, amounts receivable from group companies were neither impaired nor past due.
The carrying amount of group receivables approximate their fair values.
Amounts receivable from group companies are denominated in Mauritian rupees. The maximum
exposure to credit risk at the reporting date is the fair value of each class of receivable mentioned
above. The group does not hold any collateral as security.
ENL Commercial Limited
Annual Report 2011
91