Straco Corporation Limited • Annual Report 2014
66
NOTES TO THE FINANCIAL STATEMENTS
10
Trade and other receivables (cont’d)
Impairment losses
The ageing of loans and receivables at the reporting date was:
2014
2013
Gross
Impairment losses
Gross
Impairment losses
$
$
$
$
Group
Current
3,984,379
–
25,375,306
–
31 – 60 days
150,473
–
114,621
–
61 – 90 days
74,007
–
29,883
–
91 – 180 days
8,598
–
45,336
–
181 – 365 days
5,400
–
9,316
–
> 365 days
287,223
(214,619)
282,551
(210,452)
4,510,080
(214,619)
25,857,013
(210,452)
Company
Current
25,658
(2,258)
21,214,416
–
31 – 60 days
395,482
–
310,700
–
61 – 90 days
–
–
5,350
–
91 – 180 days
2,258
(2,258)
13,773,905
–
181 – 365 days
4,443
(4,443)
10,542,947
–
> 365 days
1,651,068
(233,450)
1,901,105
(225,000)
2,078,909
(242,409)
47,748,423
(225,000)
The movement in the allowance for impairment in respect of loans and receivables during the year is as follows:
Group
Company
2014
2013
2014
2013
$
$
$
$
At 1 January
210,452
197,764
225,000
225,000
Translation adjustment
4,167
12,688
–
–
Impairment loss recognised
–
–
17,409
–
At 31 December
214,619
210,452
242,409
225,000
