Read the full Annual Report in PDF format - CSIR

CSIR ANNUAL REPORT 2010/11
Notes to the Annual Financial Statements
for the year ended 31 March 2011
22
FINANCIAL INSTRUMENTS (continued)
22.2 Credit risk (continued)
2011 2010
Gross Impairment Gross Impairment
R’000 R’000 R’000 R’000
The aging of the Group’s trade receivables at the reporting date was:
Not past due 54 021 387 82 305 1 909
Past due 0 - 30 days 19 748 342 19 059 1 935
Past due 31 - 120 days 18 965 807 15 060 3 205
Past due more than 120 days 10 285 8 731 7 521 4 049
103 019 10 267 123 945 11 098
The movement in the allowance for impairment in respect of trade receivables during the year was as follows:
GROUP
2011 2010
R’000 R’000
Balance at 1 April 11 098 18 811
Impairment loss reversed (831) (7 713)
Balance at 31 March 10 267 11 098
The allowance account in respect of trade receivables is used to record impairment losses unless the Group is satisfi ed
that no recovery of the amount owing is possible; at that point the amount considered irrecoverable is written off against
the fi nancial asset directly.
The movement in the impairment allowance account is due mainly to the following: recoveries of R7,6 million (2010:
R11,7 million), utilisation of R2,6 million (2010: R6,3million) and new impairment allowances of R9,4 million (2010:
R10,3 million).
158