Singapore Airlines 2007 Annual Report Download - page 128

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NOTES TO THE FINANCIAL STATEMENTS
31 March 2007
Singapore Airlines 126 Annual Report 2006-07
25 Stocks (in $ million)
The Group The Company
31 March 31 March
2007 2006 2007 2006
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Technical stocks and stores 473.4 472.8 436.5 441.5
Catering and general stocks 24.3 26.1 16.0 17.0
Work-in-progress 36.4 18.6 – –
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Total inventories at lower of cost and net realisable value 534.1 517.5 452.5 458.5
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
During the fi nancial year, the Group wrote down $12.6 million (2005-06: $1.1 million) of stocks which are recognised as
expense in the profi t and loss account.
26 Trade Debtors (in $ million)
Trade debtors are stated after accumulated impairment losses. An analysis of the accumulated impairment losses is as
follows:
The Group The Company
31 March 31 March
2007 2006 2007 2006
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Balance at 1 April 20.9 16.5 6.2 3.3
(Written back)/Charged during the year (5.5) 5.0 (1.9) 2.9
Written-off during the year (1.0) (0.6) – –
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Balance at 31 March 14.4 20.9 4.3 6.2
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Bad debts written-off directly to
profi t and loss account, net of debts recovered 1.8 1.8 0.9 1.5
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
As at 31 March 2007, the composition of trade debtors held in foreign currencies by the Group is as follows:
USD – 19.8% (2006: 22.2%), AUD – 5.8% (2006: 4.0%), EUR – 5.2% (2006: 6.2%) and JPY – 4.9% (2006: 5.8%).
There was no loan to directors of the Company and its subsidiary companies in accordance with schemes approved by
shareholders of the Company (2006: $0.1 million).
27 Investments (in $ million)
The Group The Company
31 March 31 March
2007 2006 2007 2006
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Available-for-sale investments
Quoted investments
Government securities 4.5 13.1 – –
Equity investments 33.0 28.2 – –
Non-equity investments 485.0 356.3 467.0 346.1
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
522.5 397.6 467.0 346.1
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Unquoted investments
Non-equity investments 73.5 48.9 – –
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
73.5 48.9 – –
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
596.0 446.5 467.0 346.1
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––