Carphone Warehouse 2016 Annual Report Download - page 123
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121
14 Trade and other receivables continued
30 April 2016 2 May 2015
Gross trade
receivables
£million
Provision
£million
Net trade
receivables
£million
Gross trade
receivables
£million
Provision
£million
Net trade
receivables
£million
A
geing of gross trade receivables and provisions:
Not yet due 1,186 (7) 1,179 848 (6) 842
Past due:
Under two months 57 (1) 56 52 (5) 47
Two to four months 14 (1) 13 17 — 17
Over four months 47 (11) 36 93 (9) 84
118 (13) 105 162 (14) 148
1,304 (20) 1,284 1,010 (20) 990
Movements in the provision for impairment of trade receivables is as follows:
30 April
2016
£million
2 Ma
y
2015
£million
Opening balance (20) (20)
Dixons Retail Merger —(19)
Charged to the income statement (11) (8)
Receivables written off as irrecoverable 11 16
Disposals — 2
Transferred to assets held for sale — 8
Foreign exchange — 1
Closing balance (20) (20)
The Group’s trade receivables included the following amounts which were past due, but for which the Group has made no
provision based on historical rates of recoverability.
30 April
2016
£million
2 Ma
y
2015
£million
Under two months 56 47
Two to four months 13 17
Over four months 36 84
105 148
15 Cash and cash equivalents
30 April
2016
£million
2 Ma
y
2015
£million
Cash at bank and on deposit 233 163
Cash at bank and on deposit includes short term bank deposits which are available on demand. Within cash and cash
equivalents, £67 million (2015: £92 million) is restricted and predominantly comprises funds held under trust to fund potential
customer support agreement liabilities as well as by the Group’s insurance businesses to cover regulatory reserve requirements.
These funds are not available to offset the Group’s borrowings.
00_DC 2016 Annual Report.pdf 121 11/07/2016 18:34