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GB Auto and its Subsidiaries (S.A.E)
Notes to the Consolidated Financial Statements
For the year ended 31 December 2012
(In the notes all amounts are shown in thousand Egyptian pounds unless otherwise stated)
71
GB Auto
•
2012 ANNUAL REPORT
11. Inventories
2012
2011
Goods in transit
869,008
309,258
Cars, buses and trucks
413,470
537,621
Raw material and car components
293,903
306,021
Spare parts for sale
156,244
125,248
Used cars
31,990
-
Work in progress
24,955
18,335
Total
1,789,570
1,296,483
Provision for decrease in the net realizable value
(37,301)
(36,637)
Net
1,752,269
1,259,846
12. Assets held for sale
Land
Building
Total
Cost
317,325
14,288
331,613
Accumulated depreciation
-
(1,615)
(1,615)
Net book value on 31 December
317,325
12,673
329,998
Assets held for sale represented in lands and buildings which the board of directors of the subsidiaries decided to sell it as no longer future
economic benefits expected from holding it within the subsidiaries assets.
13. Accounts and notes receivables
2012
2011
Total notes receivable
489,513
395,367
Long-term notes receivable (Note 8)
(56,869)
(25,741)
Deferred interest on installment sales
(24,398)
(14,168)
Net present value for short-term notes receivable
408,246
355,458
Trade receivable
629,995
531,929
Total
1,038,241
887,387
Allowances for impairment of accounts and notes receivable balances
(256,764)
(248,493)
Net
781,477
638,894