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Trade and other receivables (Tables)

12 Months Ended

Dec. 31, 2023

Trade and other receivables [abstract]

Summary of Trade and Other Receivables

The following are included in trade and other receivables1:


			2023						2022
Amounts to be realised within one year			£m						£m
Trade receivables (net of loss allowance)			7,055.0						7,403.9
Unbilled costs2			273.6						352.4
VAT and sales taxes recoverable			370.7						448.1
Prepayments			239.0						236.6
Fair value of derivatives			1.6						5.1
Other debtors3			520.7						585.3
			8,460.6						9,031.4

1 Accrued income was previously presented in Trade and other receivables

2 Previously named 'Work in progress'

3This balance includes campus related enhancement prepayments and other individually not material items


			2023						2022
Amounts to be realised after more than one year			£m						£m
Prepayments			2.0						3.9
Fair value of derivatives			32.3						0.6
Other debtors			174.9						214.1
			209.2						218.6

Ageing of Trade Receivables and Other Financial Assets

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


			Carrying amount at 31 December 2023						Not past due						Days past due
															0-30 days						31-90 days						91-180 days						181 days- 1 year						Greater than 1 year
2023			£m						£m						£m						£m						£m						£m						£m
Gross trade receivables			7,098.9						6,173.0						612.7						183.0						52.7						30.6						46.9
Expected credit losses			(43.9)						(1.4)						(1.1)						(0.9)						(2.6)						(10.3)						(27.6)
			7,055.0						6,171.6						611.6						182.1						50.1						20.3						19.3
Expected credit loss rate			0.6		%				—		%				0.2		%				0.5		%				4.9		%				33.7		%				58.8		%
Gross accrued income			3,165.6						2,022.1						548.3						336.7						244.5						14.0						—
Expected credit losses			(15.0)						(0.3)						(0.5)						(1.3)						(12.8)						(0.1)						—
			3,150.6						2,021.8						547.8						335.4						231.7						13.9						—
Expected credit loss rate			0.5		%				—		%				0.1		%				0.4		%				5.2		%				0.7		%				n/a
Other financial assets			514.1						413.2						33.8						14.4						6.4						17.2						29.1
			10,719.7						8,606.6						1,193.2						531.9						288.2						51.4						48.4


			Carrying amount at 31 December 2022						Not past due						Days past due
															0-30 days						31-90 days						91-180 days						181 days- 1 year						Greater than 1 year
2022			£m						£m						£m						£m						£m						£m						£m
Gross trade receivables			7,475.4						6,386.5						706.4						247.1						66.8						23.5						45.1
Expected credit losses			(71.5)						(1.6)						(5.8)						(6.6)						(6.6)						(13.3)						(37.6)
			7,403.9						6,384.9						700.6						240.5						60.2						10.2						7.5
Expected credit loss rate			1.0		%				—		%				0.8		%				2.7		%				9.9		%				56.6		%				83.4		%
Gross accrued income			3,485.6						2,027.0						603.8						450.5						376.8						27.5						—
Expected credit losses			(17.3)						(0.1)						(0.2)						(0.1)						(16.9)						—						—
			3,468.3						2,026.9						603.6						450.4						359.9						27.5						—
Expected credit loss rate			0.5		%				—		%				—		%				—		%				4.5		%				—		%				n/a
Other financial assets			612.0						538.8						31.2						6.1						1.0						6.2						28.7
			11,484.2						8,950.6						1,335.4						697.0						421.1						43.9						36.2

Bad Debt Provisions


			2023						2022
			£m						£m
Expected credit losses
At beginning of year			71.5						70.5
New acquisitions			0.6						—
Charged to the income statement			14.9						29.1
Released to the income statement			(22.2)						(8.4)
Exchange adjustments			(5.3)						5.1
Utilisations and other movements			(15.6)						(24.8)
At end of year			43.9						71.5