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Notes to the
financial statements
For the financial year ended 31 December 2018
122
B A K E R T E C H N O L O G Y
L I M I T E D
18.
Trade and other receivables (cont’d)
Expected credit losses (for 31 December 2018 and 1 January 2018)
The movement in allowance for expected credit losses of trade receivables and contract assets
computed based on lifetime ECL are as follows:
Group
Trade
receivables
Contract
assets
2018
$’000
2018
$’000
Movement in allowance accounts:
At 1 January
63
–
Charge for the year
266
506
At 31 December
329
506
Receivables that are impaired (for 31 December 2017 and 1 January 2017)
The Group’s trade receivables that are individually impaired at the end of the reporting period and
the movement of the allowance account used to record the impairment is as follows:
Group
31.12.2017
1.1.2017
$’000
$’000
Trade receivables – nominal amounts
63
63
Less: Allowance for impairment
(63)
(63)
–
–
Movement in allowance account:
At 1 January
63
35
Charge for the year
–
63
Written off
–
(35)
At 31 December
63
63