The American Club 2021/2022 Annual Report

PAGE 81 THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2021 / 2022

NOTES TO FINANCIAL STATEMENTS 30 JUNE 2022

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:

2022

2021

$

$

At beginning of year

49,713

38,157

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

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

46,475

- Amounts recovered Amounts written off

(14,655) (20,264)

At end of year

113,708

49,713

8. OTHER RECEIVABLES

2022

2021

$

$

Deposits

509,340 250,005

16,904

Miscellaneous debtors

223,303

759,345

240,207

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