Trade and other receivables
|
| | | | | | | |
| | December 31, 2017 | | December 31, 2016 | |
| | $M | | $M | |
| Non-current Assets | |
| | |
| |
| Derivative financial instruments | 0.3 |
| | 0.3 |
| |
| | 0.3 |
| | 0.3 |
| |
| Current Assets | |
| | |
| |
| Trade receivables | 54.0 |
| | 40.5 |
| |
| Amounts owed by joint ventures and associates | 1.8 |
| | 2.8 |
| |
| Other receivables | 4.2 |
| | 3.1 |
| |
| Prepayments and accrued income | 10.5 |
| | 9.4 |
| |
| Derivative financial instruments | 2.1 |
| | 1.8 |
| |
| | 72.6 |
| | 57.6 |
| |
The directors consider that the carrying value of trade and other receivables approximates to their fair value. Trade receivables are non-interest bearing and are generally on 30-90 day terms. Trade receivables above are disclosed net of any provisions for doubtful receivables.
During 2016, a loan for $3.6 million to Sub 161 was converted into a secured loan note. This was subsequently reclassified into investments (Note 14).
At December 31, 2017, trade receivables with a nominal value of $4.1 million (2016: $2.1 million) were impaired and fully provided for. Movements in the provision for impairment of trade receivables and amounts owed by joint ventures and associates were as follows:
|
| | | | | | | |
| | 2017 | | 2016 | |
| | $M | | $M | |
| At January 1 | 2.1 |
| | 4.8 |
| |
| Charge in the year | 2.7 |
| | 1.3 |
| |
| Utilized in the year | (0.8 | ) | | (3.6 | ) | |
| Exchange difference | 0.1 |
| | (0.4 | ) | |
| At December 31 | 4.1 |
| | 2.1 |
| |
