Page 155 - Annual Report 2014
P. 155
Notes to the Financial Statements
Year ended 31 December 2014
8 Trade Receivables (continued)
The trade receivables of the Company include amounts billed under a combined billing arrangement to customers for services
provided by certain subsidiaries.
The Group’s and the Company’s primary credit risk exposure arises through its trade receivables, which include corporate and
retail customers. There is no concentration of credit risk with respect to trade receivables as the Group and the Company have
a large number of customers. The recorded allowances for doubtful receivables have been made based on the Group and the
Company’s historical collections experience. Due to these factors, management believes that no additional credit risk beyond
the amounts provided for collection losses is inherent in the Group and the Company’s trade receivables.
The age analysis of trade receivables past due but not impaired at the reporting date is as follows:
Group Company
31 December 31 December 1 January 31 December 31 December 1 January
2014 2013 2013 2014 2013 2013
(Restated) (Restated) (Restated) (Restated)
$m $m $m $m $m $m
Past due 0 – 15 days 36.4 37.9 43.4 34.1 35.0 41.7
Past due above 15 days 66.0 49.5 51.1 58.0 44.8 44.9
102.4 87.4 94.5 92.1 79.8 86.6
The movements in allowance for doubtful receivables in respect of trade receivables during the year are as follows:
Group Company
2014 2013 2014 2013
$m $m $m $m
At beginning of year 29.1 29.4 28.9 28.8
Allowance for doubtful receivables 15.9 15.5 1.9 0.8
Recharged to subsidiaries
Allowance utilised – – 12.5 15.1
At end of year (15.5) (15.8) (15.5) (15.8)
29.5 29.1 27.8 28.9
9 Other Receivables, Deposits and Prepayments Group Company
Grant receivables 2014 2013 2014 2013
Accrued revenue
Deposits $m $m $m $m
Prepayments
Other receivables 6.9 8.3 – –
Mark-to-market financial instruments 101.8 75.6 13.8 9.8
– Forward exchange contracts 1.1
4.6 4.9 0.9 16.7
70.0 63.5 18.1 1.3
2.6 1.2 1.2
– 0.9 – 0.9
185.9 154.4 34.0 29.8
152 many lives of hubbing
