CHINESE SWIMMING CLUB

Notes To The Financial Statements For The Financial Year Ended 31 December 2022

4. FINANCIAL INSTRUMENTS, FINANCIAL RISK AND CAPITAL RISK MANAGEMENT (CONT’D)

(b) Financial risk management policies and objectives (Cont’d) Credit risk management (Cont’d)

The table below details the credit quality of the Club’s financial assets, as well as maximum exposure to credit risk by credit risk rating categories:

Trade receivables – Members’ accounts in debit (Note 1)

For trade receivables, the Club has applied the simplified approach in FRS 109 to measure the loss allowance at lifetime ECL. The Club determines the ECL by using an individual member basis.