Tesco 2012 Annual Report Download - page 122
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Notes to the Group financial statements
Note 15 Inventories
2012
£m
2011
£m
Goods held for resale 3,537 3,142
Development properties 61 20
3,598 3,162
Note 16 Trade and other receivables
2012
£m
2011*
£m
Prepayments and accrued income 420 387
Other receivables 1,848 1,416
Amounts owed by joint ventures and associates (Note 28) 389 527
2,657 2,330
Included within trade and other receivables are the following amounts receivable after more than one year:
2012
£m
2011
£m
Prepayments and accrued income 36 31
Other receivables 377 378
Amounts owed by joint ventures and associates 269 432
682 841
Trade and other receivables are generally non interest-bearing. Credit terms vary by country and the nature of the debt, ranging from seven to sixty days.
As at 25 February 2012, trade and other receivables of £30m (2011: £37m) were past due and impaired. The amount of the provision was £50m
(2011: £44m). The ageing analysis of these receivables is as follows:
2012
£m
2011
£m
Up to three months past due 5 4
Three to six months past due 3 3
Over six months past due 22 30
30 37
As at 25 February 2012, trade and other receivables of £415m (2011: £144m) were past due but not impaired. The ageing analysis of these receivables is
as follows:
2012
£m
2011
£m
Up to three months past due 194 114
Three to six months past due 114 13
Over six months past due 107 17
415 144
No receivables have been renegotiated in the current or prior financial years.
* See Note 1 Accounting policies for details of reclassifications.
118 Tesco PLC Annual Report and Financial Statements 2012