The American Club 2022/2023 Annual Report

PAGE 78

NOTES TO FINANCIAL STATEMENTS 30 JUNE 2023

7. DUE FROM MEMBERS (cont’d)

The movement in allowance for expected credit losses of amount due from members computed based on lifetime ECL are as follows:

2023

2022

$

$

At beginning of year

113,708

49,713

Movement recognised in profit or loss during the year on: - Assets originated and changes in credit risk

240,948 (215,885) (29,547)

146,092 (62,455) (19,642)

- Amounts recovered

Amounts written off

At end of year

109,224

113,708

8. OTHER RECEIVABLES

2023

2022

$

$

Deposits

509,740 245,031

509,340 250,005

Miscellaneous debtors

754,771

759,345

As of end of reporting period, the Club considered that the expected credit losses (ECL) on other receivables are insignificant.

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2022 / 2023