Page 227 - CJ 2019 INTEGRATED REPORT

225
18 (iv)
NOTES TO THE FINANCIAL
STATEMENTS 31 DECEMBER 2019 (CONTINUED)
FINANCIAL
ASSETS HELD AT AMORTISED COST (CONTINUED)
Hire purchase debtors (continued)
Hire purchase purchase debtors debtors are are are considered fully performing when when the the the the respective debtors debtors are are are up to to to date with their instalments payments as as as as as as as as as per per the the the the the terms of the the the the the hire hire purchase purchase purchase agreements They are are are are are classified as as as as as as as as as past due due due as as as as as as as as as and and when when one instalment instalment is is is overdue Past due due due hire hire purchase purchase debtors are are are then tested for impairment individually and and are are are considered impaired when their their carrying amounts amounts exceed their their recoverable amounts amounts An additional portfolio provision is is is is also made on on on on the the the the the the basis of of of expected values values Hire purchase purchase purchase debtors debtors are secured over over the the the the the the the the hire hire purchased assets and the the the the the the the the latter’s fair values values approximated the the the the the the carrying amounts of of of hire hire hire purchase purchase purchase purchase debtors debtors debtors debtors at at at at at the the the the the the end of of of the the the the the the reporting reporting period At reporting reporting date fully performing hire hire purchase purchase debtors debtors debtors relate to to to to debtors debtors debtors who are complying with their instalment payments 1 to 4
4
months months 4
4
months months Rs’000
Rs’000
Rs’000
Rs’000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
8 8 8 893 4
4
842
(356) -
-
(3 208) (356) (3 (3 208) 8 537 1 634
The ageing analysis of hire purchase debtors are as as follows:
Group -
2019 Receivables from hire hire purchase purchase debtors net of unearned future hire hire purchase purchase income
Provision for credit losses Portfolio provision Provision for impairment Provision for credit losses Net investment in in hire purchase debtors Group -
2018 Receivables from hire hire purchase purchase debtors net of unearned future hire hire purchase purchase income
Provision for credit losses Portfolio provision Provision for impairment Provision for credit losses Net investment in in hire purchase debtors The movement in provision for credit losses is is as follows:
At 01 January
Charge for the year Bad debts written off At 31 December
Past due and provided
Fully performing Rs’000
-
-
-
-
-
28 206
(564) -
(564) 27
642
Past due but
notimpaired forMorethan
Total
Rs’000
-
-
-
-
-
41 41 941 (920) (3 208) (4 128) 37 813
2019 Rs’000
4
128 -
(4 128) -
GROUP
2018 Rs’000
6 957 1 488 (4 317) 4
128 INTEGRATED REPORT 2019