Annual Report 2009 - Toyota Financial Services

Toyota Financial Services Czech s.r.o.5. RECEIVABLES31 March 2009 31 March 2008CZK’000CZK’000Trade receivables – current 237,156 216,892– overdue 22,699 14,042259,855 230,934Other receivables – current 240,592 181,253240,592 181,253Short-term advances provided 1,283 1,246501,730 413,433Provisions for short-term doubtful receivables (13,336) (14,963)Net short-term receivables 488,394 398,470Long-term trade receivables 399,743 362,283Other long-term receivables 54,935 45,429454,678 407,712Provisions for long-term doubtful receivables (387) (1,519)Net long-term receivables 454,291 406,193Net total receivables 942,685 804,663Trade receivables include mainly receivables from customer credit contracts. For these contracts the Company enters into theagreement on securing an obligation by the transfer of ownership title. At 31 March 2009 these receivables amounted toCZK 614,683 ths. (31 March 2008: CZK 555,052 ths.).Other short and long-term receivables include receivables from funding the dealers network.For securing receivables from contracts on investment loan provided to Toyota dealers the Company uses the right of lien overthe property owned by them. At 31 March 2009 these receivables amounted to: CZK 62,438 ths.(At 31 March 2008: CZK 61,013 ths.).ProvisionsThe change in the provision for doubtful receivables may be analysed as follows:31 March 2009 31 March 2008CZK’000CZK’000Opening balance 16,482 12,888Charge for the year 5,612 11,633Utilized during the year 0 (63)Released during the year (8,371) (7,976)Closing balance 13,723 16,482In 2007/08 the Company wrote-off irrevocable receivables in the amount of CZK 0 (2007/2008: CZK 63 ths.).42