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NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2014
166
BLUE LABEL INTEGRATED ANNUAL REPORT 2014
9.
TRADE AND OTHER RECEIVABLES (continued)
The ageing of trade receivables at the reporting date is as follows:
Gross
R’000
Impairment
R’000
Net
R’000
31 May 2014
Fully performing
2 127 087
— 2 127 087
Past due by one to 30 days
18 045
166
17 879
Past due by 31 to 60 days
4 349
601
3 748
Past due by 61 to 90 days
3 010
406
2 604
Past due by more than 90 days
13 961
8 030
5 931
2 166 452
9 203 2 157 249
Portfolio impairment
6 462
(6 462)
2 166 452
15 665 2 150 787
31 May 2013
Fully performing
1 381 922
— 1 381 922
Past due by one to 30 days
27 992
543
27 449
Past due by 31 to 60 days
7 969
281
7 688
Past due by 61 to 90 days
5 551
749
4 802
Past due by more than 90 days
22 463
6 066
16 397
1 445 897
7 639 1 438 258
Receivables in respect of starter packs are included in fully performing debtors above.
Trade receivables are discounted at a discount rate of 9% per annum (2013: 8% per annum) based on
average debtors’ days outstanding. The effect of discounting of the trade receivables balance which amounts
to R7.465 million (2013: R3.702 million) is not taken into account in the above table.
The trade receivables that are neither past due nor impaired relate to a number of independent customers
for whom there is no recent history of default.
Sundry debtors are considered to be fully performing.