Carphone Warehouse 2007 Annual Report Download - page 61

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www.cpwplc.com
16 Stock
2007 2006
£’000 £’000
Finished goods and goods for resale 161,532 138,047
The difference between the balance sheet value of stock and its replacement cost is not material.
17 Trade and other receivables
2007 2006
£’000 £’000
Trade receivables 677,420 505,400
Other receivables 19,075 10,965
Prepayments and accrued income 47,355 38,107
743,850 554,472
Trade receivables are stated at their initial value reduced by appropriate provision for estimated irrecoverable amounts. Included within trade receivables are provisions
for doubtful debts of £50.2m (2006 – £50.3m). The average credit period taken on trade receivables, calculated by reference to the amount owed at the period end
as a proportion of total revenue in the period, adjusted to take account of the timing of acquisitions, was 57 days (2006 – 53 days).
The Directors consider that the carrying amount of trade and other receivables approximates to their fair value.
18 Current asset investments
2007 2006
£’000 £’000
Available-for-sale investments 2,314 5,153
Forward currency contracts (see note 21) –80
2,314 5,233
There are no listed investments within current asset investments (2006 – £nil). Investments are stated at market value, which is provided by third-party fund managers.
19 Trade and other payables
2007 2006
Current: £’000 £’000
Trade payables 439,446 352,101
Other taxes and social security costs 85,231 69,831
Other creditors 83,595 34,089
Accruals and deferred income 313,650 185,988
Forward currency contracts (see note 21) 267 –
922,189 642,009
2007 2006
Non-current: £’000 £’000
Other creditors 71,550 6,689
The average credit period taken on trade payables, calculated by reference to the amounts owed at the period end as a proportion of the amounts invoiced by
suppliers in the period, adjusted to take account of the timing of acquisitions, was 43 days (2006 – 43 days).
The Directors consider that the carrying amount of trade and other payables approximates to their fair value.
57
Financial Statements