John Lewis Partnership plc annual report and accounts 2012

Notes to the accounts continued

14 Trade and other receivables (continued)

As of 28 January 2012, trade and other receivables of £1.2m (2011: £1.0m) were impaired and fully provided for. Movements in the provision for impairment of receivables were as follows:

Table showing Trade and other receivables (continued)

2012 (£m) | 2011 (£m)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
At start of period (1.0) | (0.8)
Charged to income statement (0.5) | (0.4)
Utilised 0.1 |  –
Released 0.2 | 0.2
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
At end of period (1.2) | (1.0)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––

The creation and release of the provision for impaired receivables have been included in operating expenses in the income statement.

As of 28 January 2012, trade and other receivables of £20.4m (2011: £18.1m) were past due but not impaired. The ageing analysis of the past due amounts is as follows:

Table showing Trade and other receivables (continued)

2012 (£m) | 2011 (£m)

15 Cash and cash equivalents

Table showing Cash and cash equivalents

2012 (£m) | 2011 (£m) 

Cash at bank and in hand 83.6 | 84.2

Short-term investments 467.2 | 428.5

550.8 | 512.7

For the year ended 28 January 2012, the effective interest rate on short-term investments was 0.6% (2011: 0.7%) and these deposits had an average maturity of 2 days (2011: 3 days).

In the group cash flow statement, net cash and cash equivalents are shown after deducting bank overdrafts, as follows:

Table showing Cash and cash equivalents (continued)

2012 (£m) | 2011 (£m) 

Cash and cash equivalents, as above 550.8 | 512.7

Less bank overdrafts (60.1) | (65.3)

Net cash and cash equivalents 490.7 | 447.4
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––

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