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Trade and Other Receivables

12 Months Ended

Dec. 31, 2021

Trade and Other Receivables [Abstract]

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