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92 Unilever Annual Report and Accounts 2010
Financial statements
Notes to the consolidated financial statements Unilever Group
12 Inventories
€ million € million
Inventories 2010 2009
Raw materials and consumables 1,554 1,298
Finished goods and goods for resale
2,755
4,309
2,280
3,578
Inventories with a value of €132 million (2009: €91 million) are carried at net realisable value, this being lower than cost. During 2010,
€135 million (2009: €200 million) was charged to the income statement for damaged, obsolete and lost inventories. In 2010, €42 million
(2009:€19million) was utilised or released to the income statement from inventory provisions taken in earlier years.
In 2010, inventories with a carrying amount of €3 million were pledged as security for certain of the Group’s borrowings (2009: €10 million).
13 Trade and other receivables
€ million € million
Trade and other receivables 2010 2009
Due within one year
Trade receivables 2,541 2,314
Prepayments and accrued income 622 472
Other receivables 972 643
4,135 3,429
Credit terms for customers are determined in individual territories. Concentrations of credit risk with respect to trade receivables are limited, due
tothe Group’s customer base being large and diverse. Our historical experience of collecting receivables, supported by the level of default, is that
credit risk is low across territories and so trade receivables are considered to be a single class of financial assets. Other receivables comprise loans
and receivables of €286 million (2009: €221 million) and other non-financial assets of €686 million (2009: €422 million). We do not consider the
fair values of trade and other receivables to be significantly different from their carrying values. Balances are considered for impairment on an
individual basis rather than by reference to the extent that they become overdue.
€ million € million
Ageing of trade receivables
Total trade receivables
2010
2,658
2009
2,443
Less impairment provision for trade receivables (117) (129)
2,314 2,541
Of which:
Not overdue 2,228 1,768
Past due less than three months 242 443
Past due more than three months but less than six months 56 81
Past due more than six months but less than one year 22 57
Past due more than one year 110 94
Impairment provision for trade receivables
(117) (129)
2,314
2,541
€ million € million
Impairment provision
1 January
for trade and other receivables – current and non-curre
nt impairments 2010
157
2009
165
Charged to current year income statement 24 27
Reductions/releases (35) (40)
Currency retranslation
31 December
10
156
5
157
Other classes of assets in trade and other receivables do not include any impaired assets.