annual Report 2009 - STRATEC Biomedical AG

Report of the board of Management
Report of the supervisory board
THE share
Corporate Governance
Group Management report
Consolidated financial statements
Service
(6) Trade receivables
Trade receivables have been allocated to the “Loans and receivables” category pursuant to IAS 39 and measured at
cost, less any necessary allowances.
Customer credit balances have been recognized under other current liabilities.
Credit risk is accounted for by recognizing an appropriate volume of allowances. The allowances required were structured
as follows:
in v thousand 31.12.2009 31.12.2008
Individual allowances 68 124
General allowances 45 47
Total 113 171
The gross amount of receivables for which individual allowances were recognized amounted to u 76 thousand at the
balance sheet date (previous year: u 129 thousand).
Expenses of u 32 thousand were incurred for the complete write-down of trade receivables in the 2009 financial year
(previous year: u 0 thousand). No write-backs were required on volumes written down. Trade receivables have terms of
less than one year.
The time band structure of trade receivables has been presented in the following table (all figures in u thousand):
Carrying
amount
of which: neither
impaired nor overdue at
balance sheet date
of which: not impaired at balance sheet date,
but overdue within the following time bands
in v thousand
up to30 days
between
30 and 60 days
between
60 and 90 days
more than
90 days
12.31.2009 9,914 8,144 1,541 55 0 99
12.31.2008 9,681 8,398 1,223 37 65 0
There were no indications at the balance sheet date of any default risks in connection with receivables which were neither
impaired nor overdue.
Furthermore, critical receivables are covered by trade credit insurance policies.
(7) Future receivables from construction contracts
With a positive net balance of u 4,922 thousand (previous year: u 4,902 thousand), the future receivables from construction
contracts item involves construction contracts recognized at their respective percentages of completion. The service
relationships involved are based on fixed-price agreements. The percentage of completion has been determined using
the cost-to-cost method.
The figures stated include the accumulated cost of construction contracts still underway at the balance sheet date
(u 3,226 thousand; previous year: u 3,347 thousand), as well as a prorated share of earnings realized (u 1,696 thousand;
previous year: u 1,555 thousand).
No account needed to be taken of prepayments received for construction contracts.
stratec Annual Report 2009
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