Carphone Warehouse 2008 Annual Report Download - page 75

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www.cpwplc.com 63
17Trade and other receivables (continued)
The ageing of Group provisions for impairment of trade receivables is as follows:
2008 2007
£m £m
Not yet due (4.4) (3.9)
0 to 2 months (8.1) (6.0)
2 to 4 months (15.9) (14.0)
Over 4 months (41.6) (26.4)
(70.0) (50.3)
Movements in Group provisions for impairment of trade receivables are as follows:
2008 2007
£m £m
Opening balance (50.3) (50.3)
Acquisition of a business (0.2) (2.0)
Charge to the income statement (77.9) (46.3)
Receivables written off as unrecoverable 61.1 47.7
Foreign exchange (2.7) 0.6
Closing balance (70.0) (50.3)
At 29 March 2008, trade receivables of £147.8m (2007 – £153.9m) were past due but not impaired. These balances primarily relate to individual
residential fixed line and mobile customers. The Group has made provision based on historic rates of recoverability and all unprovided amounts are
considered to be recoverable. The ageing analysis of these trade receivables is as follows:
2008 2007
£m £m
0 to 2 months 91.4 101.2
2 to 4 months 26.7 26.9
Over 4 months 29.7 25.8
147.8 153.9
18 Current asset investments
2008 2007
£m £m
Available-for-sale investments 2.2 2.3
There are no listed investments within current asset investments in either period.
19Trade and other payables
Restated
2008 2007
Current: £m £m
Trade payables 519.6 439.4
Other taxes and social security costs 117.3 85.2
Other creditors 111.4 83.5
Accruals and deferred income 334.9 311.5
Forward currency contracts (see note 21) 3.7 0.3
1,086.9 919.9
Non-current:
Other creditors 1.0 71.6
As explained in note 14, accruals and deferred income at 31 March 2007 have been restated to reflect the finalisation of fair value adjustments in
relation to AOL’s UK internet access business.
Financial Statements