Annual Report 2011 - Goodbaby International Holdings Limited

NOTES TO FINANCIAL STATEMENTS
31 December 2011
22. TRADE AND NOTES RECEIVABLES (Continued)
The movements in provision for impairment of trade receivables are as follows:
gb international
Group
2011 2010
(HK$’000) (HK$’000)
At beginning of year 429 6,477
Recognition/(reversal) of impairment for the year 245 (620)
Amounts written off (186) (5,288)
Disposal of a discontinued operation – (140)
At end of year 488 429
An aged analysis of trade receivables of the Group that are neither individually nor collectively
considered to be impaired is as follows:
Group
2011 2010
(HK$’000) (HK$’000)
Neither past due nor impaired 577,591 457,264
Less than 1 month past due 32,081 24,041
1 to 2 months past due 4,352 7,300
2 to 3 months past due 1,115 1,953
Over 3 months and within 1 year past due 508 2,727
At end of year 615,647 493,285
Receivables that were neither past due nor impaired relate to a large number of diversified
customers for whom there was no history of default.
Receivables that were past due but not impaired relate to a number of independent customers
that have a good track record with the Group. Based on past experience, the directors believe that
no impairment allowance is necessary in respect of these balances as there has not been a
significant change in credit quality and the balances are still considered fully recoverable. The
Group does not hold any collateral over these balances.
The carrying amounts of the trade and notes receivables approximate to their fair values due to
their short term maturity.