Pdf

Trade and other receivables

GroupCompany
2015
£'000
2014
£'000
2015
£'000
2014
£'000
Trade receivables1,9241,577
Amounts receivable from subsidiaries
Corporation tax – Group relief217129
Other receivables6464
Prepayments and accrued income3173021511
2,2471,883238144

The Directors consider that the carrying amount of trade and other receivables approximates to their fair value.

Movement in allowance for doubtful debts

GroupCompany
2015
£'000
2014
£'000
2015
£'000
2014
£'000
Balance at 1st July156
Impairment losses recognised9
Balance at 30th June1515

Ageing of past due but not impaired receivables

Group
2015
£'000
2014
£'000
1–30 days past due59
31–90 days past due1
91 days and more
159

Cash and cash equivalents

GroupCompany
2015
£'000
2014
£'000
2015
£'000
2014
£'000
Cash and cash equivalents5,7773,8121,5761,315

Cash and cash equivalents comprise cash and short-term bank deposits with an original maturity of three months or less.

Credit risk

The Company's principal financial assets are bank balances and cash, and trade and other receivables. The Company's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The allowance for doubtful debts represents the difference between the carrying value of the specific trade receivables and the present value of the expected recoverable amount.
The average credit period on sales of goods is 31 days (2014: 36 days). No interest has been charged on overdue receivables.