Tesco 2009 Annual Report Download - page 98

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96 FINANCIAL STATEMENTS
Tesco PLC Annual Report and Financial Statements 2009
Note 16 Trade and other receivables continued
As at 28 February 2009, trade and other receivables of £97m (2008 – £103m) were past due but not impaired. The ageing analysis of these receivables
is as follows:
2009 2008
£m £m
Up to 3 months past due 71 79
3 to 6 months past due 15 13
Over 6 months past due 11 11
97 103
No receivables have been renegotiated in the current or prior year.
Note 17 Loans and advances to customers
Tesco Personal Finance Group Limited has loans and advances to customers.
2009 2008
£m £m
Current 1,918 –
Non-current 1,470 –
3,388 –
The maturity of these loans and advances is as follows:
2009 2008
£m £m
Repayable on demand or at short notice 1 –
Within three months 2,021 –
Greater than three months but less than one year 38 –
Greater than one year but less than five years 1,061 –
After five years 517 –
3,638 –
Provision for impairment of loans and advances (250) –
3,388 –
The securitised amount against loans and advances is £1,468m and the fair value of these are not materially different to the amortised cost value at
which they are disclosed.
Provision for impairment of loans and advances
£m
Acquisition through business combination* (229)
Charge for the period (130)
Uncollectible amounts written off 109
Recoveries of amounts previously written off (7)
Unwind of discount 7
At 28 February 2009 (250)
* Tesco Personal Finance Group Limited was acquired on 19 December 2008.
At 28 February 2009, Tesco Personal Finance Group Limited’s non-interest bearing loans were £291m. Loan impairment provisions of £250m were held
against these loans. In the period between the date of acquisition and year end, the gross income not recognised but which would have been recognised
under the original terms of non-interest bearing loans was £25m.
Notes to the Group financial statements continued