Marks and Spencer 2015 Annual Report Download - page 114

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112
MARKS AND SPENCER GROUP PLC
FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
16 OTHER FINANCIAL ASSETS
2015
£m
2014
£m
Non-current
Unlisted investments 3.0 3.0
Current
Short-term investments¹ 11.6 12.4
Unlisted investments –5.3
11.6 17.7
1. Includes £1.2m (l ast year £1.5m) of mon ey market d ep o sits held by Mark s and Spencer plc in an escrow a ccount.
Non-current unlisted investments are carried as available-for-sale assets. Other fi nancial assets are measured at fair value with changes
in their value taken to the income statement.
17 TRADE AND OTHER RECEIVABLES
2015
£m
2014
£m
Non-current
Other receivables 56.8 82.8
Prepayments and accrued income 226.5 230.7
283.3 313.5
Current
Trade receivables 128.6 127.5
Less: Provision for impairment of receivables (4.9) (0.7)
Trade receivables – net 123.7 126 .8
Other receivables 53.3 53.9
Prepayments and accrued income 144.8 128.8
321.8 309.5
Trade and other receivables that were past due but not impaired amounted to £1.4m (last year £6.4m) and are mainly sterling denominated.
The directors consider that the carrying amount of trade and other receivables approximates their fair value. Included in prepayments and
accrued income is £13.5m (last year £9.3m) of accrued supplier income relating to rebates which have been earned but not yet invoiced.
Supplier income that has been invoiced but not yet settled against future trade creditor balances is included within trade creditors. The
amount is immaterial. The impact on inventory is also immaterial as these rebates relate to food stock which has been sold through by
the year end.
18 CASH AND CASH EQUIVALENTS
Cash and cash equivalents are £205.9m (last year £182.1m). The carrying amount of these assets approximates their fair value.
The e ective interest rate on short-term bank deposits is 0.48% (last year 0.41%). These deposits have an average maturity of 42 days
(last year eight days).
19 TRADE AND OTHER PAYABLES
2015
£m
2014
£m
Current
Trade and other payables1967.6 929.1
Social security and other taxes 57.7 58.4
Accruals and deferred income1, 2 617.1 705.3
1,642.4 1,692.8
Non-current
Other payables 319.7 334.0
1. The prior ye a r bal ances h ave b ee n re- p resente d to correctly cl assif y a ccrua l s bal ances th at were previously held in t r ade and other payables.
2. During the year £22.2m was reclassifi ed from accru a ls a n d deferred income to p rovisions.