Vtech 2002 Annual Report Download - page 53

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Annual Report 2002 51
Notes to the Financial Statements
15. DEBTORS AND PREPAYMENTS
2002 2001
Note US$ million US$ million
Net trade debtors
(Net of provision for doubtful debts of US$7.2 million
(2001: US$4.0 million)) 128.9 195.3
Other debtors and prepayments 34.1 58.2
Pension assets 18 1.8 2.1
Forward foreign exchange contracts 22 0.5 —
165.3 255.6
At 31st March 2002, no trade debtors were pledged as security for liabilities (2001: nil).
An aging analysis of net trade debtors by transaction date is as follows:
0–30 days 31–60 days 61–90 days Over 90 days Total
US$ million US$ million US$ million US$ million US$ million
Balance at 31st March 2002 75.3 31.6 8.6 13.4 128.9
Balance at 31st March 2001 81.3 75.4 25.2 13.4 195.3
The majority of the Group’s sales are on letter of credit and on open credit with varying terms of 30 to 90 days. Certain open credit sales are
covered by credit insurance or bank guarantees.
16. CREDITORS AND ACCRUALS
2002 2001
Note US$ million US$ million
Trade creditors 76.3 106.2
Other creditors and accruals 110.6 135.4
Obligations under finance leases 17 0.1 0.1
Interest rates swaps 22 0.9 —
187.9 241.7
An aging analysis of trade creditors by transaction date is as follows:
0–30 days 31–60 days 61–90 days Over 90 days Total
US$ million US$ million US$ million US$ million US$ million
Balance at 31st March 2002 36.7 20.5 11.0 8.1 76.3
Balance at 31st March 2001 30.1 38.8 9.6 27.7 106.2