Notes 16-20
- 16. Inventory and work in progress
- 17. Trade and other receivables
- 18. Trade and other payables: amounts falling due within one year
- 19. Trade and other payables: amounts falling due after more than one year
- 20. Bank overdrafts, bonds and bank loans Amounts falling due within one year:
17. Trade and other receivables
The following are included in trade and other receivables:
Amounts falling due within one year:
| 2007 £m |
2006 £m |
|
|---|---|---|
| Trade receivables | 4,691.0 | 4,021.4 |
| VAT and sales taxes recoverable | 86.5 | 50.0 |
| Prepayments and accrued income | 753.5 | 422.1 |
| Other debtors | 609.8 | 438.4 |
| 6,140.8 | 4,931.9 |
The ageing of our trade receivables and other financial assets is as follows:
| Past due but not impaired | ||||||||
|---|---|---|---|---|---|---|---|---|
| Carrying amount at 31 December 2007 £m |
Neither past due nor impaired £m |
0-30 days £m |
31-90 days £m |
91-180 days £m |
181 days- 1 year £m |
Greater than 1 year £m |
||
| Trade receivables | 4,691.0 | 2,082.4 | 1,658.6 | 728.4 | 164.3 | 43.6 | 13.7 | |
| Other financial assets | 600.7 | 339.8 | 123.8 | 49.9 | 30.7 | 22.8 | 33.7 | |
| 5,291.7 | 2,422.2 | 1,782.4 | 778.3 | 195.0 | 66.4 | 47.4 | ||
| Past due but not impaired | ||||||||
|---|---|---|---|---|---|---|---|---|
| Carrying amount at 31 December 2006 £m |
Neither past due nor impaired £m |
0-30 days £m |
31-90 days £m |
91-180 days £m |
181 days- 1 year £m |
Greater than 1 year £m |
||
| Trade receivables | 4,021.4 | 1,785.1 | 1,421.9 | 624.4 | 140.8 | 37.4 | 11.8 | |
| Other financial assets | 493.8 | 279.5 | 101.8 | 41.0 | 25.2 | 18.7 | 27.6 | |
| 4,515.2 | 2,064.6 | 1,523.7 | 665.4 | 166.0 | 56.1 | 39.4 | ||
Other financial assets are included in other debtors.
Past due amounts are not impaired where collection is still considered likely.
Amounts falling due after more than one year:
| 2007 £m |
2006 £m |
|
|---|---|---|
| Prepayments and accrued income | 3.4 | 3.7 |
| Other debtors | 145.9 | 106.6 |
| 149.3 | 110.3 |
Movements on bad debt provisions were as follows:
| 2007 £m |
2006 £m |
|
|---|---|---|
| Balance at beginning of year | 71.7 | 80.1 |
| New acquisitions | 1.0 | 0.9 |
| Charged to operating costs | 15.1 | 17.1 |
| Exchange adjustments | 2.3 | (6.2) |
| Utilisations and other movements | (20.2) | (20.2) |
| Balance at end of year | 69.9 | 71.7 |
The allowance for bad and doubtful debts is equivalent to 1.5% of gross trade accounts receivable.
The Group considers that the carrying amount of trade and other receivables approximates their fair value.