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Carphone Warehouse Group plc Annual Report 201274
14 Trade and other receivables
2012 2011
£m £m
Other receivables 21.3 6.5
21.3 6.5
Other receivables include loans of £4.0m (2011: £5.2m) to members of senior management relating to the TalkTalk VES, and at 31March 2011
also the Best Buy Europe VES (see note 5). In certain circumstances these loans would be repayable within one year and for this reason
they are included within current assets. In certain other circumstances they would become repayable in more than one year.
Other receivables at 31 March 2012 also include amounts due from Best Buy Europe in relation to the shares gifted to senior Best Buy Europe
executives, as detailed in note 4, which were settled in April 2012.
The Group’s trade and other receivables are all not yet due, are entirely denominated in UK Sterling and are expected to be fully recoverable.
15 Trade and other payables
2012 2011
£m £m
Other payables 1.5 8.4
Accruals and deferred income 8.6 7.8
10.1 16.2
16 Cash and cash equivalents
Cash and cash equivalents comprise:
2012 2011
£m £m
Short‑term bank deposits and money market funds 102.7 120.6
102.7 120.6
Cash and cash equivalents include bank deposits with maturities of up to six months, which are available on demand.
Securities and guarantees
No facilities are secured over Group assets. The Group has provided guarantees to third party suppliers of Virgin Mobile France,
alongsidethe other shareholders ofthe business. The Group’s maximum potential exposure on these guarantees is £19.8m (2011: £21.0m).
Functional currency
All of the Group’s material subsidiaries prepared accounts in UK Sterling. The businesses that had a material effect on the Group’s
jointventure investments prepared accounts in UK Sterling, Euro and US Dollar.
£50m revolving credit facility
At 31 March 2011, the Group had a committed RCF which was due to mature in July 2012. The facility remained undrawn throughout both
periods, and was cancelled in August 2011 following the cancellation of the Company’s formal financing obligations to Best Buy Europe
(see note 13a).
NOTES TO THE FINANCIAL STATEMENTS CONTINUED