Tesco 2011 Annual Report Download - page 126

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NOTE 14 OTHER INVESTMENTS CONTINUED
The following table shows the aggregate movement in the Group’s other investments during the year:
2011
£m
2010
£m
At beginning of year 863 259
Additions 999 603
Disposals and maturities (735) –
Foreign currency translation (10) –
IAS 32 and IAS 39 ‘Financial Instruments’ – fair value remeasurements (9) 1
At end of year 1,108 863
NOTE 15 INVENTORIES
2011
£m
2010
£m
Goods held for resale 3,142 2,726
Development properties 20 3
3,162 2,729
NOTE 16 TRADE AND OTHER RECEIVABLES
2011
£m
2010
£m
Prepayments and accrued income 387 337
Other receivables 1,400 1,236
Amounts owed by joint ventures and associates (note 30) 527 315
2,314 1,888
Included within trade and other receivables are the following amounts receivable after more than one year:
2011
£m
2010
£m
Prepayments and accrued income 31 31
Other receivables 378 346
Amounts owed by joint ventures and associates 432 309
841 686
Trade and other receivables are generally non interest-bearing. Credit terms vary by country and the nature of the debt, ranging from seven to 60 days.
Trade receivables are recorded at amortised cost, less provision for impairment.
Provision for impairment of receivables
£m
At 28 February 2009 (44)
Foreign currency translation (5)
Charge for the year (3)
Uncollectible amounts written off –
Recoveries of amounts previously written off 5
At 27 February 2010 (47)
Foreign currency translation 2
Charge for the year (5)
Uncollectible amounts written off 6
Recoveries of amounts previously written off –
At 26 February 2011 (44)
FINANCIAL STATEMENTS
122
—
TESCO PLC Annual Report and Financial Statements 2011
Notes to the Group financial statements