NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
20
TRADE AND OTHER RECEIVABLES (Continued)
(b)
Impairment of trade debtors
Impairment losses in respect of trade debtors are recorded using an allowance account unless the Group is satisfied that recovery of the amount is remote, in which case the impairment loss is written off against trade debtors directly (see note 1(k)(i)).
The movement in the allowance for doubtful debts during the year, including both specific and collective loss components, is as follows:
At 1 January
Impairment losses recognised
Uncollectible amount written off
At 31 December
2016
HK$'000
2015
HK$'000
2,070
90
2,070
(9)
2,151
2,070
At 31 December 2016, the Group's trade debtors of HK$2,151,000 (2015: HK$2,070,000) were individually determined to be impaired. The individually impaired receivables related to customers that were in financial difficulties and management assessed that recovery of the receivables is considered doubtful. Consequently, specific allowances for doubtful debts of HK$2,151,000 (2015: HK$2,070,000) were recognised.
(c)
Trade debtors that are not impaired
The ageing analysis of trade debtors that are neither individually nor collectively considered to be impaired are as follows:
2016
HK$'000
2015
HK$'000
Neither overdue nor impaired
289,963
125,133
1 to 3 months overdue
32,303
19,566
More than 3 months but less than 12 months overdue
More than 12 months overdue
8,320
4,265
223
7
40,846
23,838
330,809
148,971
Hong Kong Ferry (Holdings) Company Limited
Annual Report 2016
121
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