Carphone Warehouse 2015 Annual Report Download - page 117

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Dixons Carphone plc Annual Report and Accounts 2014/15
Financial statements
115
13 Trade and other receivables continued
Movements in the provision for impairment of trade receivables is as follows:
2 Ma
y
2015
£million
29 March
2014
£million
Opening balance (20) —
Dixons Retail Merger (19) —
CPW Europe Acquisition —(23)
Charged to the income statement (8) (19)
Receivables written off as irrecoverable 16 22
Disposals 2 —
Transferred to assets held for sell 8 —
Foreign exchange 1 —
Closing balance (20) (20)
The Group’s trade receivables included the following amounts which were past due, but for which the Group has made no
provision based on historical rates of recoverability.
2 May
2015
£million
29 March
2014
£million
Under two months 47 46
Two to four months 17 38
Over four months 84 38
148 122
14 Cash and cash equivalents
2 Ma
y
2015
£million
29 March
2014
£million
Cash at bank and on deposit 163 283
Cash at bank and on deposit includes short term bank deposits which are available on demand. Within cash and cash
equivalents, £92 million (2014: £26 million) is restricted and predominantly comprises funds held under trust to fund potential
customer support agreement liabilities as well as by the Group’s insurance businesses to cover regulatory reserve requirements.
These funds are not available to offset group borrowings.