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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
25 Receivables
(a) Customers are generally granted credit term of 30 days. Ageing analysis of trade receivables of the Group at the balance
sheet date is as follows:
Group
2008 2007
US$’000 US$’000
0 – 30 days 788,126 532,247
31 – 60 days 32,240 69,188
61 – 90 days 21,729 14,816
Over 90 days 32,333 49,281
874,428 665,532
Less: provision for impairment (13,885) (23,939)
Trade receivables – net 860,543 641,593
At March 31, 2008, no trade receivables (2007: Nil) were past due but not impaired.
At March 31, 2008, trade receivables of US$86,302,000 (2007: US$133,285,000) were impaired and provided for. It
was assessed that a proportion of the receivables is expected to be recovered, and the amount of the provision was
US$13,885,000 as at March 31, 2008 (2007: US$23,939,000). The ageing of these receivables is as follows:
Group
2008 2007
US$’000 US$’000
31 – 60 days 32,240 69,188
61 – 90 days 21,729 14,816
Over 90 days 32,333 49,281
86,302 133,285
Movements on the provision for impairment of trade receivables are as follows:
Group
2008 2007
US$’000 US$’000
At the beginning of the year 23,939 9,481
Provisions made –14,458
Receivables written off during the year as uncollectible (8,167) –
Unused amounts reversed (597) –
Disposal of discontinued operations (1,290) –
At the end of the year 13,885 23,939
(b) Notes receivable of the Group are bank accepted notes mainly with maturity dates of within six months.
(c) Details of deposits, prepayments and other receivables are as follows:
Group Company
2008 2007 2008 2007
US$’000 US$’000 US$’000 US$’000
Deposits 2,640 2,940 153 181
Prepayments 182,534 328,090 5,588 6,187
Other receivables 582,094 453,933 938 800
767,2 68 784,963 6,679 7,16 8
Lenovo Group Limited • Annual Report 2007/08
122