Holiday Inn 2009 Annual Report Download - page 89

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GROUP FINANCIAL
STATEMENTS
Notes to the Group financial statements 87
17 Trade and other receivables
2009 2008
$m $m
Trade receivables 268 318
Other receivables 27 49
Prepayments 40 45
335 412
Trade and other receivables are designated as ‘loans and receivables’ and are held at amortised cost.
Trade receivables are non-interest-bearing and are generally on payment terms of up to 30 days. The fair value of trade and other
receivables approximates their carrying value.
The maximum exposure to credit risk for trade and other receivables, excluding prepayments, at the end of the reporting period
by geographic region is:
2009 2008
$m $m
Americas 158 208
Europe, Middle East and Africa 90 109
Asia Pacific 47 50
295 367
The ageing of trade and other receivables, excluding prepayments, at the end of the reporting period is:
2009 2008
Gross Provision Net Gross Provision Net
$m $m $m $m $m $m
Not past due 173 (2) 171 254 (13) 241
Past due 1 to 30 days 70 (9) 61 61 (1) 60
Past due 31 to 180 days 80 (19) 61 63 (5) 58
Past due more than 180 days 57 (55) 2 99 (91) 8
380 (85) 295 477 (110) 367
The movement in the provision for impairment of trade and other receivables during the year is as follows:
2009 2008
$m $m
At 1 January (110) (96)
Provided (34) (28)
Amounts written off 59 14
At 31 December (85) (110)
18 Cash and cash equivalents
2009 2008
$m $m
Cash at bank and in hand 23 32
Short-term deposits 17 50
40 82
Short-term deposits are highly liquid investments with an original maturity of three months or less, in various currencies.