Carphone Warehouse 2014 Annual Report Download - page 86

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Carphone Warehouse Group plc
Annual Report 2014
84
FINANCIAL STATEMENTS
Notes to the Group financial statements continued
14 TRADE AND OTHER RECEIVABLES continued
Movements in provisions for impairment of trade receivables are as follows:
2014 2013
£m £m
Opening balance ——
CPW Europe Acquisition (23) —
Charged to the income statement (19) —
Receivables written off as irrecoverable 22 —
Closing balance (20) —
As at  March , trade receivables of £m (: nil) were past due but not impaired. The Group made provision based on historical
rates of recoverability and all unprovided amounts are considered to be recoverable. The ageing analysis of these trade receivables is
asfollows:
2014 2013
£m £m
Under 2 months 46 —
2 to 4 months 38 —
Over 4 months 38 —
122 —
15 CASH AND CASH EQUIVALENTS
2014 2013
£m £m
Cash at bank and on deposit 283 117
Cash and cash equivalents include short-term bank deposits which are available on demand. Within cash and cash equivalents, £m (: nil)
isheld by the Group’s insurance business to cover regulatory reserve requirements. As such, these funds are not available tooffset against
other Group borrowings. A further £m is held to cover obligations on third party insurance accounts.
Loans and other borrowings are set out in note .
16 TRADE AND OTHER PAYABLES
2014 2013
£m £m
Current
Trade payables 565 1
Accruals 166 15
Deferred income 11 1
Other taxes and social security amounts payable 127 —
869 17
Non-current
Trade and other payables 113 —
Total trade and other payables 982 17
Non-current trade and other payables relate principally to property leases that are deemed to be over-rented. These liabilities are unwound
over the period of the relevant lease, of up to  years.