Experian 2008 Annual Report Download - page 104
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102 Experian Annual Report 2008
21. Trade and other receivables
(a) The analysis of trade and other receivables disclosed in the Group balance sheet is as follows:
Current Non-current Current Non-current
2008 2008 2007 2007
US$m US$m US$m US$m
Trade receivables 768 – 604 –
Less: provision for impairment of trade receivables (24) – (14) –
Less: other provisions in respect of trade receivables (19) – (16) –
Trade receivables – net 725 – 574 –
Amounts owed by associates 3 – 3 –
VAT recoverable 1 – 1 –
Other prepayments and accrued income 302 9 216 11
1,031 9 794 11
There is no material difference between the fair value of trade and other receivables and the book value stated above.
All non-current trade and other receivables are due within five years from the balance sheet date.
(b) The carrying amounts of the Group’s trade and other receivables are denominated in the following currencies:
Current Non-current Current Non-current
2008 2008 2007 2007
US$m US$m US$m US$m
US Dollar 327 4 335 7
Sterling 306 – 249 –
Brazilian Real 87 – 1 –
Euro 250 4 180 3
Other 61 1 29 1
1,031 9 794 11
(c) Trade receivables of US$530m (2007: US$415m) were neither past due nor impaired and these are further analysed as follows:
Current Current
2008 2007
US$m US$m
New customers (of less than six months’ standing) 41 42
Existing customers (of more than six months’ standing)
with no defaults in the past 478 356
Existing customers (of more than six months’ standing)
with defaults in the past which were fully recovered 11 17
530 415
None of these trade receivables has been renegotiated in the year.
Notes to the Group financial statements continued