ASIAN HOTELS AND PROPERTIES PLC AnnuAl RepoRt 2012/13

PASSION147 ASIAN HOTELS AND PROPERTIES PLCAnnual Report 2012 /13notes to the financial statements22. WORK-IN-PROGRESS - APARTMENTSGroupCompanyAs atAs at1st April1st AprilAs at 31st March 2013 2012 2011 2013 2012 2011Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000At the beginning of the year 64,392 1,353,804 596,156 64,392 1,353,804 596,156Incurred during the year 3,897 576,720 2,311,022 3,897 576,720 2,311,022Transferred to Cost of Sales (47,159) (1,866,132) (1,553,374) (47,159) (1,866,132) (1,553,374)Transferred to Apartment Inventory (21,130) - - (21,130) - -Amount at the end of the year - 64,392 1,353,804 - 64,392 1,353,804Last year the Company completed its Apartment project and accordingly there was no WIP - Apartments as at balance sheet date.The completed Apartments which remain unsold have been reported under Note 21 as Inventories.23. TRADE & OTHER RECEIVABLESGroupCompanyAs atAs at1st April1st AprilAs at 31st March 2013 2012 2011 2013 2012 2011Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000Trade Receivables 419,374 494,683 353,534 221,037 270,293 215,420Other Receivables 76,585 69,800 142,628 39,685 39,454 94,716495,959 564,483 496,162 260,722 309,747 310,136Less- Impairment Losses (Note 23.1) (17,119) (10,698) (4,375) (15,153) (9,143) (3,089)478,840 553,785 491,787 245,569 300,604 307,04723.1 Impairment LossesAt the beginning of the year 10,698 4,375 3,526 9,143 3,089 3,362Provision for the year 7,935 6,454 849 7,524 6,185 (273)Written off during the year (1,514) (131) - (1,514) (131) -At the end of the year 17,119 10,698 4,375 15,153 9,143 3,089