Holiday Inn 2012 Annual Report Download - page 112
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110 IHG Annual Report and Financial Statements 2012
16. Inventories
2012 2011
$m $m
Finished goods 2 2
Consumable stores 2 2
4 4
17. Trade and other receivables
2012 2011
$m $m
Trade receivables 344 299
Other receivables 18 28
Prepayments 60 42
422 369
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 end of the reporting period
by geographic region is:
2012 2011
$m $m
Americas 186 170
Europe 83 69
Asia, Middle East and Africa 64 61
Greater China 29 27
362 327
The ageing of trade and other receivables, excluding prepayments, at the end of the reporting period is:
2012 2011
Gross Provision Net Gross Provision Net
$m $m $m $m $m $m
Not past due 223 – 223 201 (1) 200
Past due 1 to 30 days 74 (3) 71 73 (2) 71
Past due 31 to 180 days 69 (3) 66 59 (3) 56
Past due more than 180 days 43 (41) 2 40 (40) –
409 (47) 362 373 (46) 327
The movement in the provision for impairment of trade and other receivables during the year is as follows:
2012 2011
$m $m
At 1 January (46) (58)
Provided (18) (15)
Amounts written back 10 7
Amounts written off 7 20
At 31 December (47) (46)
18. Cash and cash equivalents
2012 2011
$m $m
Cash at bank and in hand 57 51
Short-term deposits 138 131
195 182
Short-term deposits are highly liquid investments with an original maturity of three months or less, in various currencies.
Cash and cash equivalents includes $7m (2011 $2m) that is not available for use by the Group due to local exchange controls.
Notes to the Group Financial Statements continued