Experian 2011 Annual Report Download - page 129

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Financial statements 127
24. Inventories
2011
US$m
2010
US$m
Work in progress -1
Finished goods 14 2
14 3
25. Trade and other receivables
(a) Analysis of trade and other receivables: Current
2011
US$m
Non-current
2011
US$m
Current
2010
US$m
Non-current
2010
US$m
Trade receivables 668 - 589 -
Provision for impairment of trade receivables (47) - (38) -
Other provisions in respect of trade receivables (16) - (13) -
Trade receivables - net 605 - 538 -
Amounts owed by associates 4 - 4 -
VAT recoverable 2 - 4 -
Other prepayments and accrued income 290 17 254 8
901 17 800 8
The accounting policies for loans and receivables have been applied to nancial instruments of US$679m (2010: US$613m) within the above
items. VAT recoverable of US$2m (2010: US$4m) and prepayments of US$237m (2010: US$191m) are not regarded as nancial instruments.
There is no material difference between the fair value of trade and other receivables and the book value stated above. All non-current trade and
other receivables are due within ve years from the balance sheet date.
Amounts owed by associates are unsecured and settled in cash. No guarantees have been given or received in the year in connection with the
Group’s trading with such entities. No provisions have been made for doubtful debts in respect of such amounts.
(b) Trade and other receivables by denomination of currency:
Current
2011
US$m
Non-current
2011
US$m
Current
2010
US$m
Non-current
2010
US$m
US dollar 294 13 294 5
Sterling 234 - 198 -
Brazilian real 152 - 126 -
Euro 114 1 100 -
Other 107 3 82 3
901 17 800 8
(c) Analysis of trade receivables neither past due nor impaired:
2011
US$m
2010
US$m
New customers (of less than six months’ standing) 35 31
Existing customers (of more than six months’ standing) with no defaults in the past 370 308
Existing customers (of more than six months’ standing) with defaults in the past which were fully recovered - 1
405 340
None of these trade receivables has been renegotiated in the year (2010: US$nil).