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Trade and other receivables | 6 Months Ended
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Jun. 30, 2023
Trade and receivables [Abstract] |
Trade and other receivables | 14. Trade and other receivables Amounts falling due within one year:
| 30 June 2023 |  | 31 December 2022
| £m |  | £m
Trade receivables (net of loss allowance) | 6,167.8 |  |  | 7,403.9 |
Work in progress | 292.7 |  |  | 352.4 |
VAT and sales taxes recoverable | 425.5 |  |  | 448.1 |
Prepayments | 305.7 |  |  | 236.6 |
Accrued income | 3,193.4 |  |  | 3,468.3 |
Fair value of derivatives | 2.4 |  |  | 5.1 |
Other debtors | 670.6 |  |  | 585.3 |
| 11,058.1 |  |  | 12,499.7 |
Amounts falling due after more than one year:
| 30 June 2023 |  | 31 December 2022
| £m |  | £m
Prepayments | 2.2 |  |  | 3.9 |
Fair value of derivatives | 15.3 |  |  | 0.6 |
Other debtors | 139.3 |  |  | 214.1 |
| 156.8 |  |  | 218.6 |
The Group has applied the practical expedient permitted by IFRS 15 to not disclose the transaction price allocated to performance obligations unsatisfied (or partially unsatisfied) as of the end of the reporting period as contracts typically have an original expected duration of a year or less. Other debtors falling due after more than one year for 30 June 2023 includes £16.0 million (31 December 2022: £15.4 million) in relation to pension plans in surplus. Impairment losses on work in progress, accrued income and other debtors were immaterial for the periods presented. The Group considers that the carrying amount of trade and other receivables approximates their fair value. A bad debt credit of £5.4 million (period ended 30 June 2022: expense of £11.5 million) on the Group’s trade receivables in the period is a result of the decrease in expected credit losses since 31 December 2022. The loss allowance is equivalent to 0.8% (31 December 2022: 1.0%) of gross trade receivables.

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- Definition The disclosure of trade and other receivables. [Refer: Trade and other receivables] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_10_e&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition Trade and receivables + References No definition available. + Details
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