Notes 16-20

17. Trade and other receivables

The following are included in trade and other receivables:

Amounts falling due within one year:

 
2008
£m
2007
£m
Trade receivables 5,934.5 4,691.0
VAT and sales taxes recoverable 87.7 86.5
Prepayments and accrued income 1,382.6 753.5
Other debtors 733.3 609.8
  8,138.1 6,140.8

The ageing of our trade receivables and other financial assets is as follows:

  Past due but not impaired

 
 
 
 
Carrying
amount at 31
December
2008
£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 5,934.5 3,618.5 1,507.8 603.5 146.6 38.2 19.9
Other financial assets 739.6 481.8 136.4 41.5 21.1 23.7 35.1
  6,674.1 4,100.3 1,644.2 645.0 167.7 61.9 55.0
  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

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:

 
2008
£m
2007
£m
Prepayments and accrued income 7.3 3.4
Other debtors 72.3 83.8
Fair value of derivatives 105.6 62.1
  185.2 149.3
Movements on bad debt provisions were as follows:

 
2008
£m
2007
£m
Balance at beginning of year 69.9 71.7
New acquisitions 19.7 1.0
Charged to operating costs 30.8 15.1
Exchange adjustments 21.3 2.3
Utilisations and other movements (17.3) (20.2)
Balance at end of year 124.4 69.9

The allowance for bad and doubtful debts is equivalent to 2.1% (2007: 1.5%) of gross trade accounts receivable.

The Group considers that the carrying amount of trade and other receivables approximates their fair value.

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