Carphone Warehouse 2008 Annual Report Download - page 74

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Notes to the Financial Statements continued
62 The Carphone Warehouse Group PLC Annual Report 2008
15Interests in joint ventures and associates (continued)
2008 2007
£m £m
Share of assets
Share of non-current assets 7.0 0.9
Share of current assets 37.7 26.2
44.7 27.1
Share of liabilities
Share of current liabilities (47.5) (29.0)
Share of non-current liabilities (14.1) (6.6)
(61.6) (35.6)
Share of net liabilities (16.9) (8.5)
There are no material contingent liabilities or commitments relating to these joint ventures and associates.
16 Stock
2008 2007
£m £m
Finished goods and goods for resale 211.6 161.5
The difference between the balance sheet value of stock and its replacement cost is not material.
17Trade and other receivables
2008 2007
£m £m
Trade receivables – gross 820.2 727.7
Less provision for impairment (70.0) (50.3)
Trade receivables – net 750.2 677.4
Other receivables 10.4 19.1
Prepayments and accrued income 51.9 47.3
812.5 743.8
The average credit period taken on trade receivables, calculated by reference to the amount owed at the period end as a proportion of total revenue
in the period, adjusted to take account of the timing of acquisitions, was 61 days (2007 – 57 days).
Included within trade receivables are £20.5m (2007 – £15.0m) which fall due after more than one year.
Trade and other receivables are discounted where the time value of money is considered material.
The Group’s trade and other receivables are denominated in the following currencies:
2008 2007
£m £m
Sterling 605.4 569.0
Euro 196.5 140.7
Other 18.3 18.0
820.2 727.7
The ageing of gross trade receivables is as follows:
2008 2007
£m £m
Not yet due 606.8 527.4
0 to 2 months 99.5 107.2
2 to 4 months 42.6 40.9
Over 4 months 71.3 52.2
820.2 727.7