The American Club 2023/2024 Annual Report

PAGE 84

NOTES TO FINANCIAL STATEMENTS 30 JUNE 2024

7. DUE FROM MEMBERS (cont’d)

The following table details the risk profile of amount due from members based on the Club’s provision matrix. As the Club’s historical credit loss experience does not show significantly different loss patterns for different customer segments, the provision for loss allowance based on past due status is not further distinguished between the Club’s different customer base.

Due from members - past due date

Not past due

< 30 days

31 - 90 days

91 - 180 days

> 180 days

Total

$

$

$

$

$

$

2024 Expected credit loss rate

0%

2% 28% 99% 100%

Estimated total gross carrying amount at default

1,950,582 289,958 66,304 6,515 16,719 2,330,078

Lifetime ECL

(7,250)

(6,724) (18,582)

(6,418) (16,719) (55,693)

1,943,332 283,234 47,722

97

- 2,274,385

2023 Expected credit loss rate

1%

6% 33% 52% 100%

Estimated total gross carrying amount at default

2,341,843 272,351

56,297 61,375 28,920 2,760,786

Lifetime ECL

(13,179) (16,630) (18,636) (31,859) (28,920) (109,224) 2,328,664 255,721 37,661 29,516 - 2,651,562

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

2024

2023

$

$

At beginning of year

109,224

113,708

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

104,643 (149,752)

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

- Amounts recovered

Amounts written off

(8,422) 55,693

At end of year

109,224

8. OTHER RECEIVABLES

2024

2023

$

$

Deposits

10,240 94,042

509,740 245,031

Miscellaneous debtors

104,282

754,771

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 2023 / 2024