Ardagh Glass Finance plc - Irish Stock Exchange

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
12. Trade and other receivables
2008 2007
E’000 E’000
Trade receivables ................................................ 181,590 186,159
Less: provision for impairment of trade receivables ........................ (2,492) (2,463)
Trade receivables—net ............................................. 179,098 183,696
Other receivables and prepayments ................................... 17,297 10,854
196,395 194,550
The fair values of trade and other receivables approximate the amounts shown above.
Trade receivables that are less than three months past due are not considered impaired. As of
31 December 2008, trade receivables of A30,355,000 (2007: 28,262,000) were past due but not impaired.
These relate to a number of independent customers for whom there is no recent history of default. The
ageing analysis of these trade receivables is as follows:
2008 2007
E’000 E’000
Up to 3 months ................................................... 23,622 24,973
3–6 months ...................................................... 4,428 1,417
Over 6 months .................................................... 2,305 1,872
30,355 28,262
The Group has recognised a provision of A2,492,000 (2007: A2,463,000) for the impairment of its
trade receivables during the year ended 31 December 2008. The creation and usage of provision for
impaired receivables have been included in ‘sales, general and administration expenses’ in the income
statement.
2008 2007
E’000 E’000
Up to 3 months ..................................................... 5 21
3–6 months ........................................................ 1,082 167
Over 6 months ..................................................... 1,405 2,275
2,492 2,463
13. Trade and other payables
2008 2007
E’000 E’000
Trade payables .................................................. 110,096 129,242
Other payables and accruals ........................................ 65,771 62,837
Customer deposits ................................................ 11,335 4,608
Amounts owed to joint ventures ...................................... 1,331 368
VAT payable .................................................... — 784
Other tax and social security payable .................................. 7,594 6,906
196,127 204,745
The fair values of trade and other payables approximate the amounts shown above.
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