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103Experian Annual Report 2008
Introduction
2 – 5
Business review
6 – 37
Governance
38 – 64
Financial statements
Group financial statements
Financial statements
Group financial statements
21. Trade and other receivables (continued)
(d) Trade receivables of US$180m (2007: US$144m) were past due but not considered impaired and these are
further analysed as follows:
Current Current
2008 2007
US$m US$m
Up to three months 148 128
Three to six months 20 10
Over six months 12 6
180 144
(e) Trade receivables of US$39m (2007: US$29m) were considered partially impaired and provided for and these are
further analysed as follows:
Current Current
2008 2007
US$m US$m
Up to three months 7 16
Three to six months 10 4
Over six months 22 9
39 29
Impairment provision (24) (14)
15 15
The other classes within trade and other receivables at the balance sheet dates do not include any impaired assets.
(f) Movements on the impairment provision are as follows:
2008 2007
US$m US$m
At 1 April 14 10
Differences on exchange 1 1
Additions through business combinations 9 –
Provision for receivables impairment 17 17
Provision utilised in respect of debts written off (14) (12)
Unused amounts reversed (3) (2)
At 31 March 24 14
The impairment provision has been determined by reference to the age of the receivable and an assessment of the portion
of the receivable expected to be recovered. Amounts charged and credited to the Group income statement in respect of this
provision are included in administrative expenses. The movements on the impairment provision for the year ended 31 March
2007 reported above exclude any movements in respect of the provisions that related to Home Retail Group trade receivables
in the period from 1 April 2006 to the date of demerger. Other provisions in respect of trade receivables mainly comprise
credit note provisions.
22. Cash and cash equivalents
(a) The analysis of cash and cash equivalents disclosed in the Group balance sheet is as follows:
2008 2007
US$m US$m
Cash at bank and in hand 148 364
Short-term investments 3 543
151 907
The effective interest rate for cash and cash equivalents at 31 March 2008 is 4.1% (2007: 4.4%). There is no material difference
between the fair value of cash and cash equivalents and the book value stated above.