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Other assets (non-current and current)
12 Months Ended
Dec. 31, 2021
Other Assets Current And Noncurrent [Abstract]  
Other assets (non-current and current)

13 Other assets (non-current and current)

Other assets are analysed as follows:

 

 

 

31/12/21

 

 

31/12/20

 

Advances to suppliers

 

 

5,842

 

 

 

4,956

 

Deferred delivery and commission costs related to finished goods

 

 

4,831

 

 

 

2,049

 

Deferred costs for Natuzzi Display System

 

 

1,676

 

 

 

2,003

 

Deferred costs for slotting fees

 

 

868

 

 

 

1,410

 

Deferred costs for Service-Type Warranty

 

 

205

 

 

 

252

 

Other prepaid expenses and accrued income

 

 

305

 

 

 

367

 

Total other assets

 

 

13,727

 

 

 

11,037

 

Less current portion

 

 

(12,309

)

 

 

(9,146

)

Non-current portion

 

 

1,418

 

 

 

1,891

 

 

“Advances to suppliers” represent advance payments for raw materials, services and other expenses.

“Deferred delivery and commission costs related to finished goods” are related to the deferral of shipping and handling costs and commission expenses for finished goods that had not been delivered at year-end.

“Deferred costs for Natuzzi Display System” refer 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” refer 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).

“Deferred costs for Service-Type Warranty” refer 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.