REPORTING CONTEXT ABOUT US OUR OPERATING CONTEXT OUR PERFORMANCE OUR LEADERSHIP GOVERNANCE OUR FINANCIAL STATEMENTS SHAREHOLDERS' CORNER 12. TRADE AND OTHER RECEIVABLES (continued) (b) Expected credit loss for trade receivables and amount due from related parties (continued) THE GROUP Current More than 30 days past due More than 60 days past due More than 90 days past due More than 120 days past due Total At 30 June 2022 MUR ‘000 MUR ‘000 MUR ‘000 MUR ‘000 MUR ‘000 MUR ‘000 Expected loss rate 1.83% 3.29% 14.18% 82.91% 82.64% Gross carrying amount: Trade receivables* - Uninsured debtors 255 104 120 994 27 259 12 865 125 369 541 591 - Insured debtors 92 879 79 770 1 455 1 221 – 175 325 Total 347 983 200 764 28 714 14 086 125 369 716 916 Loss allowance 4 678 3 979 3 866 10 666 103 605 126 794 * Including receivables from Group companies. THE GROUP Current More than 30 days past due More than 60 days past due More than 90 days past due More than 120 days past due Total At 30 June 2021 MUR ‘000 MUR ‘000 MUR ‘000 MUR ‘000 MUR ‘000 MUR ‘000 Expected loss rate 1.90% 7.38% 21.57% 69.49% 98.20% Gross carrying amount: Trade receivables* - Uninsured debtors 272 366 78 276 26 670 25 526 95 782 498 620 - Insured debtors 65 556 75 218 254 733 164 141 925 Total 337 922 153 494 26 924 26 259 95 946 640 545 Loss allowance 5 188 5 777 5 754 17 737 94 062 128 518 * Including receivables from Group companies. THE COMPANY Current More than 30 days past due More than 60 days past due More than 90 days past due More than 120 days past due Total At 30 June 2022 MUR ‘000 MUR ‘000 MUR ‘000 MUR ‘000 MUR ‘000 MUR ‘000 Expected loss rate 3.34% 4.19% 22.70% 100.00% 100.00% Gross carrying amount: Trade receivables - Uninsured debtors 112 253 86 118 15 511 4 244 28 110 246 236 - Insured debtors 92 879 79 770 1 455 1 221 – 175 325 Amount due from related parties – – – – 32 074 32 074 Total 205 132 165 888 16 966 5 465 60 184 453 635 Loss allowance 3 750 3 605 3 521 4 244 60 184 75 304 THE COMPANY Current More than 30 days past due More than 60 days past due More than 90 days past due More than 120 days past due Total At 30 June 2021 MUR ‘000 MUR ‘000 MUR ‘000 MUR ‘000 MUR ‘000 MUR ‘000 Expected loss rate 3.82% 9.34% 55.38% 95.84% 100.00% Gross carrying amount: Trade receivables - Uninsured debtors 86 386 58 888 9 590 5 192 19 445 179 501 - Insured debtors 65 556 75 218 254 733 164 141 925 Amount due from related parties – – - 12 078 16 173 28 251 Total 151 942 134 106 9 844 18 003 35 782 349 677 Loss allowance 3 300 5 502 5 311 17 254 35 618 66 985 THE GROUP AND THE COMPANY Insured debtors - Allowance of ECL on insured debtors is MUR 5.5m. Trade receivables - ECL is calculated based on the expected loss rate which varies for the Company and its foreign subsidiaries depending on their risk characteristics. For amount due from related parties, general approach is used. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate. (c) The closing loss allowances for trade receivables as at 30 June 2022 and 2021 reconcile to the opening loss allowances as follows: THE GROUP THE COMPANY Collectively assessed Individually assessed Total Collectively assessed Individually assessed Total MUR ‘000 MUR '000 MUR ‘000 MUR '000 MUR ‘000 MUR ‘000 At 1 July 2021 11 706 116 812 128 518 7 010 59 975 66 985 Charge for the year 3 781 6 484 10 265 3 915 4 855 8 770 Write off – (4 441) (4 441) – (451) (451) Exchange differences (265) (7 283) (7 548) – – – At 30 June 2022 15 222 111 572 126 794 10 925 64 379 75 304 NOTES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 1 77 1 76 Phoenix Beverages Limited Integrated Report 2022 Phoenix Beverages Limited Integrated Report 2022
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