Trade and other receivables (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Aging Analysis of Invoice, Loss Allowance

Based on the aging of the invoice, the loss allowance at 31 December 2018 and 1 January 2018 (on adoption of IFRS 9) is as follows:


31 December 2018	£m		0-90 days £m		91-180 days £m		181 days- 1 year £m		Over 1 year £m
Gross trade receivables		8,178.9		7,621.9		381.5		86.5		89.0
Loss allowance		116.6		11.3		3.8		39.2		62.3
Expected loss rate		1.4%		0.1%		1.0%		45.3%		70.0%


1 January 2018	£m		0-90 days £m		91-180 days £m		181 days- 1 year £m		Over 1 year £m
Gross trade receivables		7,981.0		7,392.6		425.6		78.6		84.2
Loss allowance		91.3		2.9		2.8		24.2		61.4
Expected loss rate		1.1%		–		0.7%		30.8%		73.0%

Within one year [member]

Statement [LineItems]

Summary of Trade and Other Receivables

Amounts falling due within one year:


	2018 £m		2017¹ £m
Trade receivables (net of bad debt provision)		8,062.2		7,889.7
Work in progress		366.5		401.1
VAT and sales taxes recoverable		264.2		202.3
Prepayments		287.3		298.3
Accrued income		3,541.2		3,205.8
Fair value of derivatives		1.3		1.0
Other debtors		578.8		532.5
		13,101.5		12,530.7

Note

Prior year figures have been restated for the impact of the adoption of IFRS 15 Revenue from Contracts with Customers, as described in the accounting policies.

Over 1 year [member]

Statement [LineItems]

Summary of Trade and Other Receivables

Amounts falling due after more than one year:


	2018 £m		2017 £m
Prepayments		3.0		3.6
Accrued income		16.5		20.5
Fair value of derivatives		8.4		2.1
Other debtors		152.1		150.0
		180.0		176.2

Trade and other receivable [member]

Statement [LineItems]

Ageing of Trade Receivables and Other Financial Assets

The ageing of trade receivables and other financial assets by due date is as follows:


					Past due but not impaired
2018	Carrying amount at 31 December 2018 £m		Neither past due nor impaired £m		0-30 days £m		31-90 days £m		91-180 days £m		181 days- 1 year £m		Greater than 1 year £m
Trade receivables		8,062.2		5,873.7		1,370.7		549.1		128.3		75.6		64.8
Other financial assets		551.7		424.9		61.3		14.2		8.6		7.7		35.0
		8,613.9		6,298.6		1,432.0		563.3		136.9		83.3		99.8
					Past due but not impaired
2017	Carrying amount at 31 December 2017 £m		Neither past due nor impaired £m		0-30 days £m		31-90 days £m		91-180 days £m		181 days- 1 year £m		Greater than 1 year £m
Trade receivables		7,889.7		5,466.6		1,629.6		577.0		143.0		48.8		24.7
Other financial assets		500.4		331.2		107.0		6.6		4.7		10.3		40.6
		8,390.1		5,797.8		1,736.6		583.6		147.7		59.1		65.3

Bad Debt Provisions

Bad debt provisions:


	2018 £m			2017 £m			2016 £m
At beginning of year		91.3			93.8			85.4
New acquisitions		1.5			1.2			1.8
Charged to the income statement		66.7			27.4			15.5
Released to the income statement		(11.6	)		(8.4	)		(6.3	)
Exchange adjustments		2.1			(4.1	)		13.7
Utilisations and other movements		(33.4	)		(18.6	)		(16.3	)
At end of year		116.6			91.3			93.8