Experian 2010 Annual Report Download - page 125

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123
Introduction
2 – 11
Business review
12 – 51
Governance
52 – 84
Financial statements
85 – 160
20. Inventories
2010
US$m
2009
US$m
Work in progress 12
Finished goods 22
34
21. Trade and other receivables
(a) The analysis of trade and other receivables reported in the Group balance sheet is as follows:
Current
2010
US$m
Non-current
2010
US$m
Current
2009
US$m
Non-current
2009
US$m
Trade receivables 589 - 546 -
Less: provision for impairment of trade receivables (38) - (25) -
Less: other provisions in respect of trade receivables (13) - (17) -
Trade receivables - net 538 - 504 -
Amounts owed by associates 4 - 2 -
VAT recoverable 4 - 1 -
Other prepayments and accrued income 254 8 231 5
800 8 738 5
The accounting policies for loans and receivables set out in note 4 have been applied to nancial instruments of US$613m (2009:
US$590m) within the above items. VAT recoverable of US$4m (2009: US$1m) and prepayments of US$191m (2009: US$152m) are
not regarded as nancial instruments.
There is no material difference between the fair value of trade and other receivables and the book value stated above. All non-
current trade and other receivables are due within ve years from the balance sheet date.
(b) The carrying amounts of the Group’s trade and other receivables are denominated in the following currencies:
Current
2010
US$m
Non-current
2010
US$m
Current
2009
US$m
Non-current
2009
US$m
US dollar 294 5 312 4
Sterling 198 - 177 -
Brazilian real 126 - 89 -
Euro 100 - 93 -
Other 82 3 67 1
800 8 738 5
(c) Trade receivables of US$340m (2009: US$366m) were neither past due nor impaired and these are further analysed as follows:
Current
2010
US$m
Current
2009
US$m
New customers (of less than six months’ standing) 31 24
Existing customers (of more than six months’ standing) with no defaults in the past 308 336
Existing customers (of more than six months’ standing) with defaults in the past
which were fully recovered 1 6
340 366
None of these trade receivables has been renegotiated in the year (2009: US$nil).