ANNUAL FINANCIAL REPORT 2010 2010 - TiGenix

8.1.5.11 InventoriesThe carrying values of the different components of the inventory are as follows:Years ended December 31Thousands of Euro (€) 2010 2009 2008Raw materials and consumables 147 148 144Finished goods and goods for resale 97 8 13Total inventories 244 156 158Inventories are valued according to the FIFO-method (first in first out) or, if lower, at the realisable value.8.1.5.12 ReceivablesYears ended December 31Thousands of Euro (€) 2010 2009 2008Receivables 765 193 101Recoverable taxes 789 596 666Other 258 525 25Total other accounts receivable 1,812 1,315 792Receivables mainly consist of amounts due from the medical centres. The deferred sales of € 361 were deducted from thereceivables (see section 3.2.3.1). Recoverable taxes mainly consist of VAT and withholding taxes. As a result of the exercise of optionsin Orthomimetics Ltd that were not fully paid at year end, the Company has advances to option holders of € 214k. This amount isincluded in the other receivables. The Company considers that the carrying amount of trade and other receivables approximates theirfair value.The aging analysis of the Group receivables at year-end is as follows:Years ended December 31Thousands of Euro (€) 2010 2009 2008Not past due 1,281 1,201 714Up to 3 months 453 61 473 to 6 months 65 29 96 to 12 months 0 1 2more than 1 13 22 20Total receivables 1,812 1,315 7928.1.5.13 Cash and cash equivalentsYears ended December 31Thousands of Euro (€) 2010 2009 2008Cash at bank and in hand 5,555 24,745 25,162Total cash and cash equivalents 5,555 24,745 25,162180 • TiGenix • Rights Offering