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FLEXIGROUP LIMITED FINANCIAL REPORT 2011
Loans and receivables
The Group’s lease and loan receivable balances are high volume low value lease and loan receivables advanced to
individual customers and small businesses. In the vast majority of cases no externally assessed credit rating is available
for these counterparties.
The table below provides information about customer loans and receivables from customers by payment due status.
Consolidated
Contracts
$’000
As at 30 June 2011
Unimpaired past due loans and receivables
Past due under 30 days
21,522
32,190
Past due 30 days to under 60 days
7,343
10,682
Past due 60 days to under 90 days
4,201
6,414
Past due 90 days and over
14,777
5,912
Total unimpaired past due loans and receivables
47,843 55,198
Total unimpaired loans and receivables
520,573 712,834
Unimpaired past due as a percentage of total unimpaired loans and receivables
7.7%
Unimpaired past due 30 days and over as a percentage of total unimpaired loans and receivables
3.2%
Consolidated
Contracts
$’000
As at 30 June 2010
Unimpaired past due loans and receivables
Past due under 30 days
19,791
26,382
Past due 30 days to under 60 days
6,254
8,435
Past due 60 days to under 90 days
3,749
5,951
Past due 90 days and over
10,455
4,843
Total unimpaired past due loans and receivables
40,249 45,611
Total unimpaired loans and receivables
480,890 595,185
Unimpaired past due as a percentage of total unimpaired loans and receivables
7.6%
Unimpaired past due 30 days and over as a percentage of total unimpaired loans and receivables
3.2%
For impaired lease receivables, the Group has a right to recover the leased asset and for impaired loan receivables the
Group, in certain instances, has access to collateral. Given the large number of small dollar accounts comprising the portfolio
it is not practical to assess the value of the collateral.
The Group does not identify any individual loan and lease receivables as signifcant and individually impaired. It assesses
impairment on a collective basis. The Group either writes of or recognises a 100% allowance for losses for all leases and
loans more than 90 days past due.