Peachtree 2012 Annual Report Download - page 101

Download and view the complete annual report

Please find page 101 of the 2012 Peachtree annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 136

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136

Overview
Performance
Governance
Operating assets and liabilities continued
7 Working
7.1 Inventories
2012
£m
2011
£m
Materials 0.6 0.7
Finished goods 1.9 1.8
2.5 2.5
The Group consumed £12.0m (2011: £12.7m) of inventories, included in cost of sales, during the year. There was no material write down of inventories during the
current or prior year.
7.2 Trade and other receivables
Amounts falling due within one year:
2012
£m
2011
£m
Trade receivables 300.5 279.6
Less: provision for impairment of receivables (30.3) (29.2)
Trade receivables – net 270.2 250.4
Other receivables 14.9 14.7
Prepayments and accrued income 17.7 20.3
302.8 285.4
The Group’s credit risk on trade and other receivables is primarily attributable to trade receivables. The Group has no significant concentrations of credit risk
since the risk is spread over a large number of unrelated counterparties. The directors estimate that the carrying value of financial assets within trade and other
receivables approximated their fair value.
The Group considers the credit quality of trade and other receivables by geographical location. The Group considers that the carrying value of the trade and other
receivables that is disclosed below gives a fair presentation of the credit quality of the assets. This is considered to be the case as there is a low risk of default
due to the high number of recurring customers and credit control policies; thus the carrying value is expected to be the final value received.
Trade and other receivables by geographical location:
2012
£m
2011
£m
Europe 203.2 199.8
Americ
a
s 62.4 49.7
AAMEA 19.5 15.6
285.1 265.1
Movements on the Group provision for impairment of trade receivables were as follows:
2012
£m
2011
£m
At 1 October 29.2 27.4
Acquisition of subsidiaries 0.5 –
Disposal of subsidiaries –(0.5)
Increase in provision for receivables impairment 9.9 9.3
Receivables written-off during the year as uncollectible (3.3) (4.5)
Unused amounts reversed (4.1) (2.2)
Exchange movement (1.9) (0.2)
Reclassification to non-current assets classified as held for sale –(0.1)
At 30 September 30.3 29.2
Financial statements
99
The Sage Group plc | Annual Report & Accounts 2012