Annual Report 2013 - Mainfreight

11 Current Assets – Trade Debtors and Other Receivables
2013
$000
Group
2012
$000
2013
$000
Parent
Trade Debtors 241,588 234,013 29,718 28,067
2012
$000
Allowance for Impairment Loss (3,918) (3,354) (254) (335)
237,670 230,659 29,464 27,732
Trade debtors are non-interest bearing and are generally on 7 to 30 day terms. An allowance for impairment loss is recognised when there
is objective evidence that a trade debtor is impaired as described in note 4. Due to the short term nature of these receivables, their carrying
value is assumed to approximate fair value.
Movements in the allowance for impairment were as follows:
Balance at 1 April 3,354 2,802 335 228
Charge for the Year 3,212 2,523 71 416
Acquired Businesses – 867 – –
Amounts Written Off (2,648) (2,838) (152) (309)
Balance at 31 March 3,918 3,354 254 335
At 31 March, the ageing analysis of trade receivables is as follows:
$000 Total 0-30
Days
31-60
Days
61-90
Days
PDNI*
61-90
Days
CI#
+91
Days
PDNI*
2013 Group 241,588 152,456 63,817 13,866 800 7,531 3,118
Parent 29,718 15,938 9,558 2,445 38 1,523 216
2012 Group 234,013 156,107 57,608 10,531 1,057 6,413 2,297
Parent 28,067 14,009 10,343 2,258 35 1,122 300
* Past due not impaired (PDNI)
# Considered Impaired (CI)
Credit risk management policy is disclosed in note 3.
The maximum exposure to credit risk is the fair value of receivables. Collateral is not held as security, nor is it the Group’s policy to
transfer receivables.
+91
Days
CI#
12 Current Assets – Other Receivables
2013
$000
Group
2012
$000
2013
$000
Parent
2012
$000
Sundry Prepayments 34,434 32,785 1,825 3,221
Loans to Team Members (note 23) – 307 – –
Carrying Amount of Other Receivables 34,434 33,092 1,825 3,221
Financial Statements
95