NOTES TO
FINANCIAL STATEMENTS
75
GDS Global Limited Annual Report 2015
As at 30 September 2015
7
TRADE AND OTHER RECEIVABLES (cont’d)
The table below is an analysis of trade receivables as at the end of the reporting period:
Group
Company
2015
2014
2015
2014
$
$
$
$
Not past due and not impaired
5,559,299
4,811,632
655,421
1,043,354
Past due but not impaired
(i)
2,125,906
2,067,833
–
–
7,685,205
6,879,465
655,421
1,043,354
Impaired receivables (individually
assessed)
(ii)
- Customers placed under liquidation
150,949
150,949
–
–
- Past due more than 12 months and
no response to repayment demands
3,909
9,685
–
–
Less: Allowance for impairment
(154,858)
(160,634)
–
–
–
–
–
–
Total trade receivables, net
7,685,205
6,879,465
655,421
1,043,354
(i)
Aging of trade receivables that are past due but not impaired is as follows:
Group
2015
2014
$
$
<1 month
794,595
586,677
1 month to 3 months
537,908
574,407
3 months to 6 months
89,659
162,824
6 months to 12 months
38,966
312,264
>12 months
664,778
431,661
2,125,906
2,067,833
There has not been a significant change in credit quality of these trade receivables and the
amounts are still considered recoverable. Included in trade receivables that are past due for
more than 12 months is an amount of $476,840 (2014: $422,416) for which the Group has
initiated legal actions (Note 3).
(ii)
These amounts are stated before any deduction for impairment losses.
Movements in the allowance for doubtful debts are as follows:
Group
2015
2014
$
$
Balance at beginning of the year
160,634
–
(Decrease) Increase in allowance recognised in profit or loss
(5,776)
160,634
Balance at end of the year
154,858
160,634
