Holiday Inn 2007 Annual Report Download - page 74

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72 IHG Annual Report and Financial Statements 2007
Notes to the Group financial statements continued
17 TRADE AND OTHER RECEIVABLES (CONTINUED)
The movement in the provision for impairment of trade and other receivables during the year is as follows:
2007 2006
£m £m
At 1 January (43) (47)
Provided (12) (16)
Amounts written off 615
Exchange and other adjustments 15
At 31 December (48) (43)
18 CASH AND CASH EQUIVALENTS
2007 2006
£m £m
Cash at bank and in hand 26 30
Short-term deposits 26 149
52 179
Short-term deposits are highly liquid investments with an original maturity of three months or less, in various currencies.
19 TRADE AND OTHER PAYABLES
2007 2006
£m £m
Current
Trade payables 49 47
Other tax and social security payable 19 26
Other payables 172 190
Accruals 148 139
Derivatives 2–
390 402
Non-current
Other payables 139 109
Trade payables are non-interest bearing and are normally settled within 45 days.
Other payables include £212m (2006 £180m) relating to the future redemption liability of the Group’s loyalty programme, of which
£84m (2006 £83m) is classified as current and £128m (2006 £97m) as non-current.
20 LOANS AND OTHER BORROWINGS
2007 2006
Current Non-current Total Current Non-current Total
£m £m £m £m £m £m
Secured bank loans –33437
Finance leases 8 92 100 39497
Unsecured bank loans – 774 774 3 206 209
Total borrowings 8 869 877 10 303 313
Denominated in the following currencies:
Pounds sterling – 275 275 – 102 102
US dollars 8 425 433 10 145 155
Euro – 121 121 –5454
Other –4848 –22
8 869 877 10 303 313