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notes to the financial Statements
for the year ended 31 March 2012
Impairment loss recognised on receivables
Group
Parent
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Opening Balance
521
497
495
485
Provision for receivables impairment
108
24
106
10
Receivables written off during the year as uncollectable
(168)
-
(159)
-
Unused amounts reversed
(9)
-
-
-
452
521
442
495
The creation and release of provision for receivables impaired have been included in ‘impaired loss recognised
on trade receivables’ in the Statement of Comprehensive Income.
15. Construction contracts
Contracts in progress at balance date:
Group
Parent
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Construction costs incurred plus recognised profits less
recognised losses to date
135
178
135
178
Less: Progress billings
(15)
(47)
(15)
(47)
120
131
120
131
No retentions were held by customers for construction work in progress at year-end. (2011: $30,000)
All amounts included in trade and other receivables and arising from construction contracts are due for
settlement within the following 12 months.
16. Inventories
Group
Parent
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Contracting stores
981
837
795
692
Network stores (strategic spares)
23
23
23
23
Transformers
340
300
340
300
Meters and relays
166
241
-
-
Generation
385
357
-
-
Less provision for obsolescence
(102)
(91)
(102)
(91)
Total inventories
1,793
1,667
1,056
924
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