Annual Report 2024

245 2024 Annual Report Transport International Holdings Limited NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 23 Accounts receivable (continued) (a) Ageing analysis Included in accounts receivable are trade receivables (net of loss allowance) with the following ageing analysis, based on the due date, as of the end of the reporting period: 2024 2023 $’000 $’000 Current 167,732 160,997 Less than 1 month past due 15,473 69,151 1 to 3 months past due 10,275 54,469 More than 3 months past due 251,193 177,269 444,673 461,886 According to the Group’s credit policy set out in note 33(a) to the consolidated financial statements, the credit period granted to customers is generally between 30 days and 90 days. Therefore, all the balances which are not past due as disclosed above are within three months from the invoice date. (b) Loss allowance for trade receivables Loss allowance in respect of trade receivables are recorded using an allowance account unless the Group is satisfied that recovery of the amount is remote, in which case the loss allowance is written off against trade receivables directly (see note 1(n)(i)). No movement in the loss allowance account in respect of trade receivables during the year: 2024 2023 $’000 $’000 Balance at 1 January and 31 December 360 360 Loss allowance for trade receivables are measured as the present value of all expected cash shortfalls (i.e. the difference between the cash flows due to the Group in accordance with the contract and the cash flows that the Group expects to receive) (see note 1(n)(i)). 24 Bank deposits and cash (a) Bank deposits and cash comprise: 2024 2023 $’000 $’000 Cash at banks and on hand 42,560 197,365 Bank deposits 1,887,394 1,457,929 1,929,954 1,655,294 Less: restricted bank deposits (note 24(b)) (375,520) (447,551) Bank deposits and cash in the consolidated statement of financial position 1,554,434 1,207,743 Less: bank deposits with original maturities of over three months (915,703) (710,720) Cash and cash equivalents in the consolidated cash flow statement 638,731 497,023