195
Financials
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL
STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2016
20. Trade and other receivables
Group
Trade receivables
Impairment allowance on trade receivables
Staff loans and advances
Other receivables
Total trade and other receivables
31-Dec-16 31-Dec-15
₦’million
16,695
(708)
15,987
1,398
8,894
26,279
₦’million
7,559
(1,325)
6,234
1,045
4,265
11,544
Company
31-Dec-16 31-Dec-15
₦’million
10,454
(627)
9,827
1,150
880
11,857
₦’million
3,924
(1,298)
2,626
919
707
4,252
Trade receivables
The average credit period on sales of goods for both the Group and Company is as shown below.
Of the trade receivables balance at the end of the year in the consolidated and separate financial statements
respectively, ₦537.0 million (2015: ₦603.6 million) and ₦4.2 billion (2015: ₦603.6 million) is due from the Group’s
and company’s largest trade debtor respectively. There are no other customers who represent more than 9% of the
total balance of trade receivables of the Group after impairment. Trade receivables that are neither past due nor
impaired are considered to be of high quality as most of these are guaranteed by reputable banks. The company’s
largest trade debtor is a subsidiary and the amount is eliminated on consolidation.
Trade receivables disclosed above include amounts (see below for aged analysis) that are past due at the end of
the reporting period for which the Group has not recognised an allowance for impairment because there has not
been a significant change in credit quality and the amounts are still considered recoverable.
Trade receivables are considered to be past due when they exceed the credit period granted.
Age of receivables that are past due and not impaired
Group Company
0 - 60 days
60 - 90 days
90 - 120 days
120+
Total
Average age (days)
31-Dec-16 31-Dec-15
₦’million
5,536
1,599
3,568
872
11,575
43
₦’million
1,848
253
247
625
2,973
32
31-Dec-16 31-Dec-15
₦’million
3,878
1,068
3,463
802
9,211
48
₦’million
1,120
85
139
625
1,969
26
Annual Report 2016
195
196
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