KINGSMEN CREATIVES LTD
ANNUAL REPORT
2014
79
18.
Trade and other receivables (cont’d)
Movements in impairment loss on doubtful trade receivables during the reporting year are as follows:
Group
Company
2014
2013
2014
2013
$’000 $’000
$’000 $’000
At beginning of the year
771
1,223
–
–
Impairment loss for the year
373
84
–
–
Write-back of impairment loss
(4)
(473)
–
–
Write-off against impairment loss
(36)
(45)
–
–
Disposal of a subsidiary
(35)
–
–
–
Foreign exchange adjustments
(4)
(18)
–
–
At end of the year
1,065
771
–
–
Included in trade receivables is an amount of $3,243,000 (2013: $3,922,000) which relates to retention sums and
advance billings.
Except for an amount of $774,000 (2013: $198,000) under loan receivable from subsidiaries and an amount of
$36,000 (2013: $33,000) under staff loans, the remaining current trade and other receivables are unsecured, non-
interest bearing and repayable on demand in cash. The amount of $774,000 (2013: $198,000) under loan receivable
from subsidiaries and the amount of $36,000 (2013: $33,000) under staff loans are unsecured, bear interest at 3.89%
to 6.00% (2013: 3.94% to 3.97%) and 3% (2013: 3%) per annum respectively and are repayable on demand in cash.
Except for an amount of $12,000 (2013: $28,000) under staff loans, the remaining non-current trade and other
receivables are unsecured, non-interest bearing, not repayable within the next twelve months and to be settled
in cash. The amount of $12,000 (2013: $28,000) under staff loans is unsecured, bears interest at 3% (2013: 3%) per
annum and is not repayable within the next twelve months and to be settled in cash.
19.
Deferred tax
Deferred tax as at 31 December relates to the following:
Consolidated
Statement of
Financial Position
Consolidated
Statement of Profit
or Loss and Other
Comprehensive Income
2014
2013
2014
2013
Group
$’000 $’000
$’000 $’000
Deferred tax assets
Excess of net book value of plant
and equipment over tax values
(109)
(69)
(40)
123
Provisions
127
374
(247)
(318)
Unutilised tax losses
242
–
242
–
Others
280
33
247
(2)
540
338
Deferred tax liabilities
Excess of net book value of plant
and equipment over tax values
(359)
(287)
(72)
(139)
Provisions
48
212
(164)
(33)
Others
(168)
(346)
178
(77)
(479)
(421)
Foreign exchange adjustments
5
(16)
Deferred tax income/(expense) (Note 11)
149
(462)
Notes to the Financial Statements
31 December 2014
