Page 189 - flipbook-ubp-IR

OUR CORPORATE PERFORMANCE GOVERNANCE
Trade receivables are non-interest bearing and are generally on 30 days’ terms.
Other receivables comprise of advances made to suppliers, amounts due from related entities amongst others.
Other receivables are non-interest bearing and having an average term of 6 months.
For terms and conditions relating to receivables from related parties, refer to note 29.
The fair values of the trade and other receivables approximate their carrying amounts.
As at June 30, 2022, the Group’s and the Company’s trade receivables amounting to Rs 159.4m (2021: Rs 67.9m) and Rs 42.2m (2021: Rs 31.9m) were impaired and provided for.
See note 4(b) on credit risk of trade receivables, which explains how the Group manages and measures credit quality of trade receivables that are neither past due nor impaired.
The movement in the allowance for credit loss of trade receivables were as follows:
Individually and collectively impaired
At July 01,
Movement for the year excluding write off Write-off
Acquisition of subsidiary
At June 30,
2021 Rs’000
33,903 3,765 (5,792) - 31,876
THE GROUP
2022
(5,147)
76,207
160,470
2021
THE COMPANY
2022
Rs’000
67,923
21,487
Rs’000
114,901 (5,215) (41,763) -
Rs’000
31,876
10,451
(123)
42,204
-
67,923
An allowance for expected credit loss has also been charged for other receivables amounting to Rs 12.3m (2021:Rs 6.2m) for the Company and a charge of Rs 6m (2021: Rs 0.2m) for the Group.
16. OTHER RECEIVABLES
Receivable from projects with customers
(i)Trade receivables from contracts net of provisions (ii) Progress billings
Other receivables
This balance is included in note 15 under other receivables.
2021 Rs’000
- - -
2022
2021
THE COMPANY
2022
UBP INTEGRATED REPORT 2022
187
THE GROUP
Rs’000
7,616
(1,098)
Rs’000
76,318 (68,712)
Rs’000
-
-
6,518
2,505
-
FINANCIAL STATEMENTS