UON SERVICES LIMITED Notes to the Financial Statements For the year ended 31 December 2012 14
RECEIVABLES continued (a)
Impaired trade receivables As at 31 December 2012 current trade receivables of the Company with a nominal value of $nil (2011: $nil) were impaired. During 2012 the amount of the provision was $nil (2011: $nil). Movements in the provision for impaired receivables are as follows: 2012 $ At 1 January Provision for impairment recognised during the year Receivables written off during the year as uncollectable Unused amounts reversed
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2011 $ 3,169 (1,768) (1,401)
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-
The creation and release of the provision for impaired receivables has been included in 'impairment of assets' in the income statement. Amounts charged to the provision are generally written off when there is no expectation of recovering additional cash. (b) Past due but not impaired As of 31 December 2012, trade receivables of $101,045 were past due but not impaired. These relate to a number of customers for whom there is no history of recent default or expectation of same. The ageing of these receivables is: 2 to 3 months Over 3 months
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101,045 -
75,469 -
101,045
75,469