2016_Halma_ARA_160610_2

Notes to the Accounts continued
16 TRADE AND OTHER RECEIVABLES continued
Impairment charges are recorded against the trade receivables which the Group believes may not be recoverable. In the case of trade
receivables that are past due, management makes an assessment of the risk of non-collection, taking into account factors such as
previous default experience, any disputes or other factors delaying payment and the risk of bankruptcy or other failure of the customer
to meet their obligations. For trade receivables that are not past due, taking into account good historical collection experience,
management records an impairment charge only where there is a specific risk of non-collection.
The fair value of trade and other receivables approximates to book value due to the short-term maturities associated with these items.
There is no impairment risk identified with regards to prepayments and accrued income or other receivables where no amounts are
past due.
The ageing of trade receivables was as follows:
Gross trade receivables
2 April
2016
£000
28 March
2015
£000
Trade receivables net
of doubtful debts
2 April
2016
£000
28 March
2015
£000
Not yet due 120,236 105,649 119,773 105,463
Up to one month overdue 26,125 22,178 26,101 22,054
Up to two months overdue 6,387 4,413 6,210 4,346
Up to three months overdue 3,746 1,999 3,180 1,861
Over three months overdue 7,755 7,312 4,747 5,025
164,249 141,551 160,011 138,749
STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS
17 TRADE AND OTHER PAYABLES: FALLING DUE WITHIN ONE YEAR
18 BORROWINGS
2 April
2016
£000
Of loan notes falling due after more than one year £242,000 relate to loan notes arising on the acquisition of Advanced. The remainder
relate to the issue of loan notes following a United States Private Placement in the year. See note 26.
Information concerning the security, currency, interest rates and maturity of the Group’s borrowings is given in note 26.
28 March
2015
£000
Trade payables 68,049 57,633
Other taxation and social security 4,998 4,673
Other payables 4,737 2,888
Accruals 38,204 34,508
Deferred income 6,679 2,891
Deferred government grant income 124 124
122,791 102,717
2 April
2016
£000
28 March
2015
£000
Loan notes falling due within one year 336 –
Overdrafts 4,412 1,705
Total borrowings falling due within one year 4,748 1,705
Unsecured loan notes falling due after more than one year 172,112 657
Unsecured bank loans falling due after more than one year 123,796 139,762
Total borrowings falling due after more than one year 295,908 140,419
300,656 142,124
Halma plc Annual Report and Accounts 2016 135 133