Singapore Airlines 2004 Annual Report Download - page 101
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99
SIA Annual Report 03/04
Notes to the Financial Statements
31 March 2004
23 Stocks (in $ million)
The Group The Company
31 March 31 March
2004 2003 2004 2003
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Technical stocks and stores 21.8 22.9 6.9 7.1
Catering and general stocks 27.1 30.8 19.3 21.9
Work-in-progress 12.6 27.1 – –
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
61.5 80.8 26.2 29.0
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Stocks are stated after deducting provision for stock obsolescence. An analysis of the provision for stock obsolescence is
as follows:
The Group The Company
31 March 31 March
2004 2003 2004 2003
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Balance at 1 April 4.9 3.2 – –
Provided during the year 3.0 1.7 1.0 –
Provision utilized during the year (0.4) – – –
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Balance at 31 March 7.5 4.9 1.0 –
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Stocks written-off directly to profit and loss account ––––
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Stocks are stated at:
Cost 33.4 58.2 17.0 29.0
Net realizable value 28.1 22.6 9.2 –
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
61.5 80.8 26.2 29.0
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
24 Trade Debtors (in $ million)
Trade debtors are stated after deducting provision for doubtful debts. An analysis of the provision for doubtful debts is
as follows:
The Group The Company
31 March 31 March
2004 2003 2004 2003
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Balance at 1 April 78.3 84.8 48.0 60.3
Written-back during the year (16.3) (6.5) (10.1) (12.3)
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Balance at 31 March 62.0 78.3 37.9 48.0
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Bad debts written-off directly to
profit and loss account, net of debts recovered 1.2 4.2 1.7 5.7
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Loans to directors of the Company and its subsidiary companies in accordance with schemes approved by shareholders
of the Company amounted to $0.3 million (2003: $0.6 million).