LensCrafters 2013 Annual Report Download - page 186

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Footnotes to the statutory financial statements as of December 31, 2013 Page 19 of 71
INFORMATION ON THE STATEMENT OF FINANCIAL POSITION
CURRENT ASSETS
4. CASH AND CASH EQUIVALENTS
This balance represents the cash and cash equivalents held at the year-end date and they are essentially comprised of
cash balances within the bank accounts.
Description
12/31/201
3
12/31/20
1
2
Cash at banks and post offices 137,055,271 320,951,806
Cash and equivalents on hand 2,882 5,837
Total
137,058,153
320,957,643
We maintain that the value of cash and cash equivalents are reported at their respective fair value as of the balance
sheet date.
5. ACCOUNTS RECEIVABLE
Balance at 12/31/201
3
Balance at 12/31/201
2
340,693,059
401,868,851
The year-end balance mostly comprises Euro 320,198,921 in trade receivables from subsidiaries, Euro 21,870,048 in
invoices to issue to subsidiaries, and Euro 1,041,886 in foreign customer receivables, net of Euro (2,384,250) in credit
notes to issue.
The Company does not have any receivables relating to transactions in which substantially all the risks and rewards of
ownership are not transferred.
Furthermore, all accounts receivable are due within one year and include no significant overdue balances.
Furthermore, at December, 31, 2013 there are about Euro 94 mil. of overdue balances by thirty days and about Euro
107 mil. of overdue balances by more than thirty days. Luxottica Group decided that it is not necessary to devaluate
these overdue balances because they are intercompany positions and there are no risks.
Balance at 12/31/201
3
Balance at 12/31/201
2
137,058,153
320,957,643