Notes to the accounts
17 Trade and other receivables
|
|
2007 |
2006 |
|
Non-current |
|
|
|
Trade receivables |
8.9 |
9.8 |
|
Prepayments and accrued income |
0.8 |
1.8 |
|
Other debtors |
5.0 |
5.2 |
|
|
14.7 |
16.8 |
|
Current |
|
|
|
Long-term contract balances |
5.3 |
126.2 |
|
Less: attributable progress payments |
|
(120.5) |
|
Amounts due from customers for contract work |
5.3 |
5.7 |
|
Trade receivables |
427.2 |
657.3 |
|
Other debtors |
16.6 |
9.5 |
|
Prepayments and accrued income |
40.7 |
51.9 |
|
|
489.8 |
724.4 |
Trade receivables do not carry interest and are stated at their nominal value after deducting provisions for bad and doubtful debts of £10.5m (2006: £16.3m). The provision for bad and doubtful debts is based on specific risk assessment and reference to past default experience. The Group has no significant concentration of credit risk, with exposure spread over a large number of customers. Management considers the carrying value of trade and other receivables approximates the fair value.