NATS-Annual-Report-2015

Annual Report and Accounts 2015 | NATS Holdings Limited
Financial Statements 115
Notes forming part of the
consolidated accounts
(continued)
16. Financial and other assets (continued)
Ageing of past due but not impaired trade receivables
2015 2014
£m £m
31-90 days 0.7 0.2
91-365 days 0.9 0.9
> 365 days 0.1 0.3
1.7 1.4
Movement in the allowance for doubtful debts
2015 2014
£m £m
Balance at the beginning of the year 4.8 5.1
Increase in allowance recognised in the income statement 0.4 0.3
Foreign exchange movement in the year (0.4) (0.1)
Amounts written off as irrecoverable (0.4) (0.5)
Balance at end of year 4.4 4.8
In determining the recoverability of a trade receivable the group considers any change in credit quality of the trade receivable from the
date credit was initially granted up to the reporting date. The directors believe that there is no further credit provision required in excess
of the allowance for doubtful debts.
Included in the allowance for doubtful debts are individually impaired trade receivables with a balance of £3.2m (2014: £3.2m) which are
in administration, receivership or liquidation. The impairment recognised represents the carrying amount of these trade receivables. The
group does not hold any collateral over these balances.
Ageing of impaired receivables
2015 2014
£m £m
31-90 days 0.3 0.2
91-365 days 0.6 0.6
> 365 days 3.5 4.0
The directors consider that the carrying amount of trade and other receivables approximates to their fair value.
4.4 4.8
Cash and cash equivalents
Cash and cash equivalents comprise cash held by the group and short term bank deposits with an original maturity of three months
or less. The directors consider that the carrying amount of these assets approximates to their fair value.
Overall, the maximum credit risk for the items discussed above would be £522.4m (2014: £482.0m).
Financial
Statements