Marks and Spencer 2012 Annual Report Download - page 98

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Financial statements Marks and Spencer Group plc Annual report and financial statements 2012 96
Notes to the financial statements continued
16 Other financial assets
2012
£m
2011
£m
Non-current
Unlisted investments 3.0 3.0
Current
Short-term investments1254.4 209.4
Unlisted investments 6.1 6.5
260.5 215.9
1 Includes £179.4m (last year £148.9m) and £49.2m (last year £44.2m) of money market deposits held by the Marks and Spencer Scottish Limited Partnership and Marks and Spencer plc
respectively. All short term investments are measured using Level 2 valuation techniques.
Non-current unlisted investments are carried as available-for-sale assets. Other financial assets are measured at fair value with
changes in their value taken to the income statement.
17 Trade and other receivables
2012
£m
2011
£m
Non-current
Other receivables 33.8 35.2
Prepayments and accrued income 236.4 240.9
270.2 276.1
Current
Trade receivables 115.8 99.6
Less: Provision for impairment of receivables (1.2) (1.3)
Trade receivables – net 114.6 98.3
Other receivables 23.9 25.5
Prepayments and accrued income 114.5 126.5
253.0 250.3
Trade receivables that were past due but not impaired amounted to £2.5m (last year £2.4m) and are mainly sterling
denominated. The directors consider that the carrying amount of trade and other receivables approximates their fair value.
18 Cash and cash equivalents
Cash and cash equivalents are £196.1m (last year £470.2m). The carrying amount of these assets approximates their fair value.
The effective interest rate on short-term bank deposits is 0.36% (last year 0.40%). These deposits have an average maturity of
four days (last year nine days).
19 Trade and other payables
2012
£m
2011
£m
Current
Trade and other payables 988.6 919.2
Social security and other taxes 71.5 57.2
Accruals and deferred income 389.0 371.2
1,449.1 1,347.6
Non-current
Other payables1280.8 262.3
1 Includes the fair value of the put option over the 49% non-controlling interest in the share capital of Marks and Spencer Czech Republic a.s. of £nil (last year £14.6m) exercisable on
4 April 2013, and the fair value of the put option over the 20% non-controlling interest in the share capital of Marks and Spencer Greece S.A. of £nil exercisable in five or ten years time.