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2009/10 Annual Report <strong>Lenovo</strong> Group Limited<br />
122<br />
NOTES TO THE FINANCIAL STATEMENTS (continued)<br />
24 Receivables (continued)<br />
(a) (continued)<br />
Movements on the provision for impairment of trade receivables are as follows:<br />
Group<br />
2010 2009 2008<br />
US$’000 US$’000 US$’000<br />
At the beginning of the year 29,755 13,885 23,939<br />
Exchange adjustment 296 168 –<br />
Provisions made 14,702 24,631 –<br />
Receivables written off during<br />
the year as uncollectible (22,434) (7,400) (8,167)<br />
Unused amounts reversed (5,000) (1,529) (597)<br />
Disposal of discontinued operations – – (1,290)<br />
At the end of the year 17,319 29,755 13,885<br />
(b) Notes receivable of the Group are bank accepted notes mainly with maturity dates of within six months.<br />
(c) Details of deposits, prepayments and other receivables are as follows:<br />
Group Company<br />
2010 2009 2008 2010 2009<br />
US$’000 US$’000 US$’000 US$’000 US$’000<br />
Deposits 553 3,466 2,640 881 212<br />
Prepayments 175,528 197,050 182,534 5,017 67<br />
Other receivables 1,287,341 834,327 1,021,872 – 317<br />
1,463,422 1,034,843 1,207,046 5,898 596<br />
(d) The carrying amounts of trade receivables, notes receivable, deposits and other receivables approximate their fair<br />
value. The maximum exposure to credit risk at the balance sheet date is the fair value of each class of receivable<br />
mentioned above. The Group does not hold any collateral as security.<br />
The carrying amounts of deposits and receivables are denominated in the following currencies:<br />
Group Company<br />
2010 2009 2008 2010 2009<br />
US$’000 US$’000 US$’000 US$’000 US$’000<br />
Renminbi 625,006 488,692 593,121 – –<br />
United States dollar 1,532,052 288,806 1,275,841 531 312<br />
Euro 250,017 194,396 251,095 – –<br />
Hong Kong dollar 105,457 15,236 35,820 350 217<br />
Other currencies 183,170 554,324 – – –<br />
2,695,702 1,541,454 2,155,877 881 529