AT&S World
AT&S World
AT&S World
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Impairments<br />
The impairments in the prior financial year 2009/10 in the<br />
amount of TEUR 193 exclusively related to restructuring and<br />
cost cutting measures. The determination of intangible assets is<br />
based on available estimates for the sale of these assets under<br />
market and arm’s length conditions. Reference is made to Note<br />
5 “Non-recurring items”.<br />
10. Other non-current assets<br />
31 March<br />
(in EUR 1,000) 2011 2010<br />
Prepayments 1,707 1,805<br />
Deposits made 2,437 1,817<br />
Carrying amount 4,144 3,622<br />
The prepayments relate to long-term rent prepayments for the<br />
factory premises in China.<br />
11. Inventories<br />
31 March<br />
(in EUR 1,000)<br />
Raw materials and<br />
2011 2010<br />
supplies 20,251 15,915<br />
Work in progress 14,370 10,064<br />
Finished goods 18,755 12,721<br />
Carrying amount 53,376 38,700<br />
The balance of write-downs of inventories recognised as expense<br />
amounts to TEUR 8,498 at 31 March 2011 (TEUR 6,521 at<br />
31 March 2010).<br />
In connection with various financing agreements, inventories<br />
in the amount of TEUR 40 (TEUR 87 at 31 March 2010) serve as<br />
collateral. Reference is made to Note 16 “Financial liabilities”.<br />
Consolidated Financial Statements as of 31 March 2011<br />
12. Trade and other receivables<br />
The carrying amounts of trade and other receivables are as follows:<br />
31 March<br />
(in EUR 1,000) 2011 2010<br />
Trade receivables 71,001 70,703<br />
VAT receivables 18,933 12,013<br />
Other receivables from authorities 3,812 1,277<br />
Prepayments 2,744 2,398<br />
Energy tax refunds 1,761 4,407<br />
Deposits 402 423<br />
Insurance reimbursements – 44<br />
Other receivables 1,335 714<br />
Impairments (89) (1,003)<br />
99,899 90,976<br />
Other receivables mainly include prepaid expenses and deferred<br />
charges.<br />
In connection with various financing agreements trade receivables<br />
amounting to TEUR 36,000 (TEUR 36,000 at 31 March 2010)<br />
serve as collateral. Reference is made to Note 16 “Financial liabilities”.<br />
The carrying amounts of trade and other receivables, taking into<br />
account impairments, approximate their respective fair values.<br />
Maturity of receivables<br />
All receivables at 31 March 2011 and 31 March 2010 have remaining<br />
maturities of less than one year.<br />
Factoring<br />
At the balance sheet date 31 March 2011 receivables in the<br />
amount of TEUR 15,765 (TEUR 7,511 at 31 March 2010) had been<br />
transferred to a bank under a genuine factoring arrangement<br />
and derecognised.<br />
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