- 21 - The Group has been no significant changed in estimation and assumption method in current financial position. The following table shows the movement in lifetime expected credit losses that has been recognised for trade receivables in accordance with the simplified approach set out in TFRS 9. Unit : Million Baht Consolidated financial statements Separate financial statements 2021 2020 2021 2020 Balance at beginning of the year 30 32 22 22 Losses on allowance for expected credit losses 2 1 2 - Amounts recovered during the year (2) (3) - - Balance at ending of the year 30 30 24 22 9. OTHER RECEIVABLES Other receivables as at December 31, consist of the following: Unit : Million Baht Consolidated financial statements Separate financial statements 2021 2020 2021 2020 Receivables from excise department and oil fund 1,901 1,373 1,901 1,373 Others 841 1,038 829 1,027 Total other receivables 2,742 2,411 2,730 2,400 10. INVENTORIES Inventories as at December 31, consist of the following: Unit : Million Baht Consolidated financial statements Separate financial statements 2021 2020 2021 2020 Raw materials 8,804 3,614 8,804 3,614 Work in process 20 13 20 13 Finished goods 18,965 10,830 18,659 10,599 Chemicals and fuel oil 1,526 1,025 1,506 1,008 Spare parts and repair materials 2,594 2,516 2,593 2,514 Goods in transit 2,968 4,112 2,934 4,112 Less Allowance for diminution in value and obsolescence of inventories (1,111) (941) (1,111) (940) Total inventories 33,766 21,169 33,405 20,920 According to the Ministry of Energy’s regulations, the Company is required to reserve crude oil at 4% of commercial volume and liquid petroleum gas and petroleum products at 1% of the total production output in each period. As at December 31, 2021, the inventories presented in the consolidated and separate financial statements included minimum mandatory reserve on crude oil, liquid petroleum gas, and petroleum products amounting to Baht 6,085 million and Baht 6,082 million, respectively (as at December 31, 2020 : Baht 2,571 million and Baht 2,568 million in the consolidated and separate financial statements, respectively), which were net amount of allowance for diminution in value and obsolescence of inventories. 323 NOTES TO THE FINANCIAL STATEMENTS IRPC PUBLIC COMPANY LIMITED
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