John Lewis Partnership plc Annual Report and Accounts 2014


99 13 Trade and other receivables


Trade and other receivables are amounts owed to us from customers and from suppliers if we are owed rebates. This note also includes: interest receivable from third parties and amounts due from our Partners in respect of the Partnership’s car finance scheme; prepayments which are payments made in advance of the delivery of goods or rendering of services; accrued income earned by the Partnership for providing a product or service which has not yet been invoiced.


Other receivables, prepayments and accrued income are split into current and non-current to show those amounts due within a year and those which will be recovered over a longer period. Trade receivables are shown net of an allowance for debts which we do not consider recoverable.


2014 £m


Current:


Trade receivables Other receivables


Prepayments and accrued income Non-current: Other receivables Prepayments and accrued income


13.1 48.2 61.3


12.6 43.2 55.8


Trade receivables are non-interest bearing and generally on credit terms of less than 90 days. Concentrations of credit risk are considered to be very limited. The carrying amount of trade and other receivables approximates to fair value and is denominated in sterling.


As of 25 January 2014, trade and other receivables of £2.2m (2013: £2.3m) were fully impaired. Movements in the allowance for impaired receivables were as follows:


2014 £m


At start of year


Charged to income statement Utilised


Released to income statement At end of year


(2.3) (0.6) 0.5 0.2


(2.2)


2013 £m


(1.2) (1.4) –


0.3 (2.3) The creation and release of the allowance for impaired receivables have been included in branch operating expenses in the income statement.


As of 25 January 2014, trade and other receivables of £24.4m (2013: £21.0m) were past due but not impaired. The ageing analysis of the past due amounts is as follows:


2014 £m


Up to 3 months past due 3 to 12 months past due Over 12 months past due


19.5 2.9 2.0


24.4


2013 £m


18.1 2.0 0.9


21.0


55.1 48.3


122.5 225.9


49.5 46.4 96.2


192.1


2013 £m


THE JOHN LEWIS PARTNERSHIP


OUR PERFORMANCE


GOVERNANCE


FINANCIAL STATEMENTS


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