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Trade and Other Receivables | 12 Months Ended
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Dec. 31, 2021
Trade and Other Receivables [Abstract] |
Trade and other receivables |
7. | Trade and other receivables
| (a) | This caption was made up as follows:
|  | Current |  |  | Non-current |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |
Trade receivables (b) |  |  | 91,072 |  |  |  | 73,366 |  |  |  | - |  |  |  | - |
Other accounts receivable |  |  | 5,940 |  |  |  | 1,913 |  |  |  | - |  |  |  | - |
Accounts receivable from Parent company and affiliates, note 27 |  |  | 1,314 |  |  |  | 2,212 |  |  |  | - |  |  |  | - |
Funds restricted to tax payments |  |  | 1,314 |  |  |  | 346 |  |  |  | - |  |  |  | - |
Loans granted |  |  | 1,066 |  |  |  | 1,624 |  |  |  | 83 |  |  |  | 1,688 |
Other receivables from sale of fixed assets |  |  | 937 |  |  |  | 1,781 |  |  |  | - |  |  |  | - |
Interest receivable |  |  | 636 |  |  |  | 1,375 |  |  |  | - |  |  |  | - |
Loans to employees |  |  | 610 |  |  |  | 357 |  |  |  | - |  |  |  | - |
Allowance for expected credit losses (d) and (e) |  |  | (5,539 | ) |  |  | (5,324 | ) |  |  | - |  |  |  | - |
Financial assets classified as receivables (e) |  |  | 97,350 |  |  |  | 77,650 |  |  |  | 83 |  |  |  | 1,688 |
Value-added tax credit |  |  | 5,368 |  |  |  | 6,443 |  |  |  | 2,673 |  |  |  | 3,319 |
Other accounts receivable (c) |  |  | - |  |  |  | - |  |  |  | 38,242 |  |  |  | - |
Tax refund receivable |  |  | - |  |  |  | 319 |  |  |  | 9,242 |  |  |  | 9,242 |
Allowance for expected credit losses (d) |  |  | - |  |  |  | - |  |  |  | (9,034 | ) |  |  | (9,034 | )
Non-financial assets classified as receivables |  |  | 5,368 |  |  |  | 6,762 |  |  |  | 41,123 |  |  |  | 3,527 |
|  |  | 102,718 |  |  |  | 84,412 |  |  |  | 41,206 |  |  |  | 5,215 |
| (b) | Trade account receivables have current maturity (30 to 90 days) and those overdue bear interest.
| (c) | On March 22, 2021, the Company received Tax Court Resolution N° 00905-4-21 that declares the calculation of Mining Royalty should be based on gross sale of the final product (cement) for the years 2008 and 2009. This is an opposite position to what is established by the Constitutional Court in the STC Exp. N° 1043-2013-PA/TC that declares founded the writ of protection presented by the Company and its right to calculate the Mining Royalty exclusively based on the value of the mining component, without considering in any way the value of the final products derived from industrial and manufacturing processes.
The Company has made, under protest, partial payments of the debts arbitrarily placed in collection. These payments as of December 31, 2021 amount to approximately S/38,242,000 and are presented in the caption “Miscellaneous receivables, net”, non-current assets. To date, the Company has initiated the corresponding legal actions to recover said payments and in the opinion of Management and its external legal advisors, it has a high probability of obtaining a favorable result.
| (d) | The movement of the allowance for expected credit losses is as follows:
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | S/(000) |  |  | S/(000) |  |  | S/(000) |
Opening balance |  |  | 14,358 |  |  |  | 12,781 |  |  |  | 11,329 |
Additions, note 22 |  |  | 563 |  |  |  | 1,582 |  |  |  | 1,452 |
Recoveries |  |  | (348 | ) |  |  | (5 | ) |  |  | - |
Ending balance |  |  | 14,573 |  |  |  | 14,358 |  |  |  | 12,781 |
As of December 31, 2021, the additions include S/563,000 related to the provision for expected credit losses for trade receivables (S/1,582,000 as of December 31, 2020), which are presented in the caption “selling and distribution expenses” on the consolidated income statement, see notes 22.
| (e) | The aging analysis of trade and other accounts receivable as of December 31, 2021 and 2020, is as follows:
As of December 31, 2021
|  |  |  |  |  |  |  | Past due but not impaired |
|  | Total |  |  | Neither past due nor impaired |  |  | < 30 days |  |  | 30-60 days |  |  | 61-90 days |  |  | 91-120 days |  |  | > 120 days |
|  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |
Expected credit loss rate |  |  | 5.4 | % |  |  | 0.0 | % |  |  | 0.9 | % |  |  | 1.7 | % |  |  | 3.7 | % |  |  | - |  |  |  | 76.5 | %
Carrying amount 2021 |  |  | 102,972 |  |  |  | 65,314 |  |  |  | 21,233 |  |  |  | 6,112 |  |  |  | 3,672 |  |  |  | - |  |  |  | 6,641 |
Expected credit loss |  |  | 5,539 |  |  |  | 28 |  |  |  | 190 |  |  |  | 105 |  |  |  | 136 |  |  |  | - |  |  |  | 5,080 |
As of December 31, 2020
|  |  |  |  |  |  |  | Past due but not impaired |
|  | Total |  |  | Neither past due nor impaired |  |  | < 30 days |  |  | 30-60 days |  |  | 61-90 days |  |  | 91-120 days |  |  | > 120 days |
|  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |
Expected credit loss rate |  |  | 6.3 | % |  |  | 0.2 | % |  |  | 10.8 | % |  |  | 1.4 | % |  |  | 4.2 | % |  |  | - |  |  |  | 61.2 | %
Carrying amount 2020 |  |  | 84,662 |  |  |  | 68,044 |  |  |  | 1,943 |  |  |  | 5,665 |  |  |  | 1,134 |  |  |  | - |  |  |  | 7,876 |
Expected credit loss |  |  | 5,324 |  |  |  | 167 |  |  |  | 209 |  |  |  | 79 |  |  |  | 48 |  |  |  | - |  |  |  | 4,821 |

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- Definition The disclosure of trade and other receivables. [Refer: Trade and other receivables] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_10_e&doctype=Standard -URIDate 2021-03-24 + Details
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