Holiday Inn 2008 Annual Report Download - page 79

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Notes to the Group financial statements 77
17 Trade and other receivables
2008 2007
$m $m
Trade receivables 318 362
Other receivables 49 59
Prepayments 45 51
412 472
Trade and other receivables are designated as ‘loans and receivables’ and are held at amortised cost.
Trade receivables are non-interest-bearing and are generally on payment terms of up to 30 days. The fair value of trade
and other receivables approximates their carrying value.
The maximum exposure to credit risk for trade and other receivables, excluding prepayments, at the balance sheet date
by geographic region is:
2008 2007
$m $m
Americas 208 231
Europe, Middle East and Africa 109 141
Asia Pacific 50 49
367 421
The aging of trade and other receivables, excluding prepayments, at the balance sheet date is:
2008 2007
Gross Provision Net Gross Provision Net
$m $m $m $m $m $m
Not past due 254 (13) 241 286 (2) 284
Past due 1 to 30 days 61 (1) 60 74 (3) 71
Past due 31 to 180 days 63 (5) 58 77 (15) 62
Past due more than 180 days 99 (91) 8 80 (76) 4
477 (110) 367 517 (96) 421
The movement in the provision for impairment of trade and other receivables during the year is as follows:
2008 2007
$m $m
At 1 January (96) (85)
Provided (28) (23)
Amounts written off 14 12
At 31 December (110) (96)
18 Cash and cash equivalents
2008 2007
$m $m
Cash at bank and in hand 32 53
Short-term deposits 50 52
82 105
Short-term deposits are highly liquid investments with an original maturity of three months or less, in various currencies.
GROUP FINANCIAL
STATEMENTS