Carphone Warehouse 2009 Annual Report Download - page 76

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72 The Carphone Warehouse Group PLC Annual Report 2009
Notes to the Financial Statements – continued
17 Stock
2009 2008
£m £m
Finished goods and goods for resale 1 212
The difference between the balance sheet value of stock and its replacement cost is not material.
18 Trade and other receivables
2009 2008
£m £m
Trade receivables – gross 141 820
Less provision for impairment (19) (70)
Trade receivables – net 122 750
Other receivables 7 11
Prepayments and accrued income 11 52
140 813
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 33 days (2008: 61 days).
Included within trade receivable at 29 March 2008 were £21m of receivables that fell due after more than one year. Trade and
other receivables are discounted where the time value of money is considered to be material.
The Group’s trade and other receivables are denominated in the following currencies:
2009 2008
£m £m
Sterling 139 605
Euro 2 197
Other – 18
141 820
The ageing of gross trade receivables is as follows:
2009 2008
£m £m
Not yet due 86 607
0 to 2 months 33 99
2 to 4 months 9 43
Over 4 months 13 71
141 820
The ageing of Group provisions for impairment of trade receivables is as follows:
2009 2008
£m £m
Not yet due (1) (5)
0 to 2 months (4) (8)
2 to 4 months (5) (16)
Over 4 months (9) (41)
(19) (70)