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100 SIA Annual Report 02/03
Notes to the Financial Statements
31 March 2003
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
2003 2002 2003 2002
Balance at 1 April 84.8 91.7 60.3 59.8
(Written-back)/provided during the year (6.5) (6.9) (12.3) 0.5
Balance at 31 March 78.3 84.8 48.0 60.3
Bad debts written-off directly to profit
and loss account 4.2 – 5.7 0.9
Loans to directors of the Company and its subsidiary companies in accordance with schemes approved by
shareholders of the Company amounted to $0.6 million (2002: $0.9 million).
25 Stocks (in $ million)
The Group The Company
31 March 31 March
2003 2002 2003 2002
Technical stocks and stores 22.9 20.4 7.1 7.1
Catering and general stocks 30.8 29.7 21.9 22.5
Work-in-progress 27.1 16.9 – –
80.8 67.0 29.0 29.6
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
2003 2002 2003 2002
Balance at 1 April 3.2 1.4 – –
Provided during the year 1.7 1.9 – –
Provision utilized during the year – (0.1) – –
Balance at 31 March 4.9 3.2 – –
Stocks written-off directly to profit and loss account ––––
Stocks are stated at:
Cost 58.2 56.8 29.0 29.6
Net realizable value 22.6 10.2 – –
80.8 67.0 29.0 29.6