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Other assets (non-current and current) | 12 Months Ended
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Dec. 31, 2018
Text block [abstract] |
Other assets (non-current and current) |
12 | Other assets (non-current and current)
Other assets are analysed as follows:
|  | 31/12/18 |  |  | 31/12/17 |  |  | 01/01/17 |
Advances to suppliers |  |  | 3,471 |  |  |  | 3,369 |  |  |  | 6,132 |
Deferred costs for Natuzzi Display System |  |  | 2,617 |  |  |  | 2,031 |  |  |  | 1,229 |
Deferred costs for slotting fees |  |  | 1,922 |  |  |  | 1,399 |  |  |  | 204 |
Delivery and commission costs for sales derecognised |  |  | 1,839 |  |  |  | 1,730 |  |  |  | 2,230 |
Deferred costs for Service-Type Warranty |  |  | 452 |  |  |  | 519 |  |  |  | 330 |
Prepaid expenses and accrued income |  |  | 1,165 |  |  |  | 1,035 |  |  |  | 1,441 |
Total other assets |  |  | 11,466 |  |  |  | 10,083 |  |  |  | 11,566 |
Less current portion |  |  | (8,107 | ) |  |  | (7,232 | ) |  |  | (10,243 | )
Non-current portion |  |  | 3,359 |  |  |  | 2,851 |  |  |  | 1,323 |
“Advances to suppliers” represent advance payments for raw materials, services and general expenses. “Deferred costs for Natuzzi Display System” refers to the deferred costs incurred by the Company to purchase store fittings, which are then sold to retailers and used to set up their stores (“Natuzzi Display System” – NDS). Such costs are recognised over the life of the distribution contract signed with the retailer (usually five years). “Deferred costs for slotting fees” refers to contributions made by the Company to retailers to prepare the retailer’s system to accept and sell the Group’s products. Such fees are recognised over the life of the contract signed with the retailers (usually five years). “Delivery and commission costs for sales derecognised” are related to the deferral of shipping and handling costs and commission expenses for finished goods that had not been delivered as at year-end. “Deferred costs for Service-Type Warranty” refers to the deferral of costs incurred by the Company for the sale of a service-type warranty to end customers, considering that this insurance is provided by a third-party. Such costs are recognised over the life of the contractual insurance period, which is five years. “Prepaid expenses and accrued income” primarily include advance rent payments on factory buildings.

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- Definition The disclosure of other assets. [Refer: Other assets] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2018-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2018-03-01&anchor=para_10_e&doctype=Standard -URIDate 2018-03-16 + Details
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- Definition Text block [abstract] + References No definition available. + Details
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