Ubisoft 2016 Annual Report Download - page 129

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Financial statements
5
Consolidated fi nancial statements asatMarch31, 2016
NOTE6 TRADE RECEIVABLES
Trade receivables and other receivables
Opening
balance
Gross Movement Reclassifi cations Changes
inscope
Foreign
exchange gains
and losses
Closing
balance
Gross
Trade receivables 25,296 402,877 (59) (23) (7,994) 420,097
TOTAL AT 03/31/16 25,296 402,877 (59) (23) (7,994) 420,097
TOTAL AT 03/31/15 74,471 (53,783) (25) (433) 5,066 25,296
Provisions Opening
balance Provisions Reversals Reclassifi cations Changes
in scope
Foreign
exchange gains
and losses Closing
balance
Trade receivables 1,392 327 (1,117) (59) - (23) 520
TOTAL AT 03/31/16 1,392 327 (1,117) (59) - (23) 520
TOTAL AT 03/31/15 1,151 877 (674) (25) - 63 1,392
Trade receivables are due in less than one year.
The analysis of credit risk appears in Note 15.
NOTE7 OTHER RECEIVABLES
Other receivables
03/31/16 03/31/15
Gross Impairment Net Net
Advances and prepayments received 1,889 - 1,889 1,985
VAT 47,235 - 47,235 31,178
Grants receivable 28,736 - 28,736 57,320
Other tax and employee-related receivables 1,936 - 1,936 2,674
Other 399 - 399 2,942
Prepaid expenses 20,790 - 20,790 17,756
TOTAL 100,985 - 100,985 113,855
All other receivables are due in less than one year.
An amount of receivables under grants receivable in the amount
of €42.4 million was deconsolidated following the signing of the
factoring agreement regarding the Canadian Credit Multimedia
titles (€19.9 million as at March 31, 2015). The contractual terms
of the factoring agreement allow Ubisoft to transfer all the risks
and rewards relating to the 85% share of these receivables held,
including the risk of default of the assigned debtor. Consequently,
85% of these grants were derecognized as at March 31, 2016.
NOTE8 CURRENT FINANCIAL ASSETS
Current fi nancial assets
03/31/16 03/31/15
Gross Impairment Net Net
Foreign exchange derivatives* 13,780 - 13,780 3,870
Stock futures - - 1,049
TOTAL 13,780 - 13,780 4,919
*
Foreign exchange derivatives: Foreign exchange derivatives whose market value at the year-end is positive are reported at fair value (level 2, IFRS7 hierarchy), (see analysis in Note15)
- Registration Document 2016 127