52
AVESCO GROUP PLC ANNUAL REPORT 2011
www.avesco.com
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2011
19. Hedge of net investment in a foreign entity
A proportion of the Group’s US dollar-denominated borrowing amounting to £2,560,000 (2010: £2,530,000) is designated as a hedge of the net investment in the Group’s US subsidiary. There is no difference between the carrying value and the fair value of the loan.
A proportion of the Group’s Euro-denominated borrowing amounting to £2,610,000 (2010: £2,582,000) is designated as a hedge of the net investment in the Group’s European subsidiaries. There is no difference between the carrying value and the fair value of the loan. 20. Trade and other receivables
Group 2011 Trade receivables
Less provision for impairment of trade receivables Trade receivables - net
Receivables from Group undertakings Other receivables
Social security and other taxes Prepayments
Accrued income
Less non current portion: other receivables Current portion
£000s 17,252
(535)
16,717 -
611
4,194 2,250
23,772 (182)
23,590 2010
£000s 14,255
(622)
13,633 -
921 Company 2011
£000s -
- -
38,100 -
- 237 2010
£000s -
- -
35,929 -
- -7 - 2,673 2,405
- 61
19,632 (277)
19,355
38,344 -
38,344
35,990 -
35,990
All non-current receivables are due within 5 years from the balance sheet date. Current amounts receivable are unsecured, interest free and repayable on demand.
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