Tesco 2009 Annual Report Download - page 97
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95
FINANCIAL STATEMENTS
Tesco PLC Annual Report and Financial Statements 2009
To find out more go to
www.tesco.com/annualreport09
Note 15 Inventories
2009 2008
£m £m
Goods held for resale 2,656 2,420
Development properties 13 10
2,669 2,430
Note 16 Trade and other receivables
2009 2008
£m £m
Prepayments and accrued income 419 298
Finance lease receivables (note 37) – 5
Other receivables 1,103 796
Amounts owed by joint ventures and associates (note 32) 276 212
1,798 1,311
Included within trade and other receivables are the following amounts receivable after more than one year:
2009 2008
£m £m
Prepayments and accrued income 14 12
Other receivables 275 160
Amounts owed by joint ventures and associates (note 32) 262 173
551 345
Trade and other receivables are generally non-interest bearing. Credit terms vary by geography and the nature of the debt and can be from 7 to 60 days.
Trade receivables are recorded at amortised cost, reduced by estimated allowances for doubtful debts.
Provision for impairment of receivables
£m
At 24 February 2007 (34)
Foreign currency translation (3)
Charge for the year (15)
Uncollectible amounts written off 14
Recoveries of amounts previously written off 9
At 23 February 2008 (29)
Foreign currency translation (2)
Charge for the year (21)
Uncollectible amounts written off 3
Recoveries of amounts previously written off 5
At 28 February 2009 (44)
As at 28 February 2009, trade and other receivables of £45m (2008 – £31m) were past due and impaired. The amount of the provision was £44m
(2008 – £29m). The ageing analysis of these receivables is as follows:
2009 2008
£m £m
Up to 3 months past due 3 3
3 to 6 months past due 3 3
Over 6 months past due 39 25
45 31