13. TRADE AND OTHER CURRENT RECEIVABLES

Trade and other current receivables are initially recognised at fair value plus any directly attributable transaction costs. Subsequently these assets are held at amortised cost, using the effective interest method and net of any impairment losses.

We do not consider the fair values of trade and other current receivables to be significantly different from their carrying values. Concentrations of credit risk with respect to trade receivables are limited, due to the Group’s customer base being large and diverse. Our historical experience of collecting receivables, supported by the level of default, is that credit risk is low across territories and so trade receivables are considered to be a single class of financial assets.


Trade and other current receivables	€ million 2017		€ million 2016
Due within one year
Trade receivables		3,439		3,329
Prepayments and accrued income		452		504
Other receivables		1,331		1,269
		5,222		5,102

Other receivables comprise financial assets of €281 million (2016: €396 million), and non-financial assets of €1,050 million (2016: €873 million). Financial assets include supplier and customer deposits, employee advances and certain derivatives. Non-financial assets mainly consist of reclaimable sales tax.


	€ million			€ million
Ageing of trade receivables	2017			2016
Total trade receivables		3,599			3,472
Less impairment provision for trade receivables		(160	)		(143	)
		3,439			3,329
Of which:
Not overdue		2,714			2,537
Past due less than three months		621			666
Past due more than three months but less than six months		95			102
Past due more than six months but less than one year		59			69
Past due more than one year		110			98
Impairment provision for trade receivables		(160	)		(143	)
		3,439			3,329

	€ million			€ million
Impairment provision for total trade and other receivables	2017			2016
1 January		166			155
Charge to income statement		51			42
Reduction/releases		(21	)		(35	)
Currency translations		(12	)		4
31 December		184			166

The total impairment provision includes €160 million (2016: €143 million) for current trade receivables, €10 million (2016: €10 million) for other current receivables and €14 million (2016: €13 million) for non-current trade and other receivables, refer to note 11.