2018E — Page 147

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

18

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()()).

The movement in the allowance for doubtful debts during the year is as follows:

At 1 January

Impairment losses recognised

Uncollectible amount written off

At 31 December

2018

HK$'000

2017

HK$'000

2,151

2,151

122

(88)

2,185

2,151

At 31 December 2018, the Group's trade debtors of HK$2,185,000 (2017: HK$2,151,000) 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$2,185,000 (2017: HK$2,151,000) 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:

2018

2017

(restated)

HK$'000

HK$'000

Neither overdue nor impaired

250,963

260,255

1 to 3 months overdue

34,558

27,137

More than 3 months but less than 12 months overdue

More than 12 months overdue

5,375

3,518

3,402

2,036

43,335

32,691

294,298

292,946

Receivables that were neither overdue nor impaired relate to a wide range of customers for whom there was no recent history of default.

Hong Kong Ferry (Holdings) Company Limited

145

Annual Report 2018