Notes to the Financial Statements continued for the year ended 31 May 2021
17 Trade and other receivables
Group 2020 (restated) 2 £m
Group 2021 £m
Company 2021 £m
Company 2020 £m
Current Trade receivables
35.2
– – – – –
41.6 10.8
– – – – –
8.7
Prepayments
–
Deferred contract costs
2.1 0.9
1.9
Other receivables
22.9
Contract assets – accrued income
18.0
Non-current Amounts owed by Group undertakings
–
162.6
–
142.0
Total
68.7
162.6
73.4
142.0
Disclosed as follows: Current assets Non-current assets
68.7
–
73.4
–
–
162.6
–
142.0
68.7
162.6
73.4
142.0
The carrying value of trade and other receivables classified at amortised cost approximates fair value. The contract costs to fulfil represent recoverable costs relating to future performance obligations and economic benefits to the customer in relation to a long-term onerous contract (see Note 21). No impairment charge has been recognised during the year. No credit losses have been recognised in respect of amounts owed by Group undertakings (Parent Company only) in the year (2020: £nil) since they are not considered material. Amounts owed by Group undertakings in the Parent Company Balance Sheet have been disclosed as repayable after more than one year. Although these are repayable on demand, the disclosure as non-current is based on management’s expectation of the timing of repayment. The ageing of trade receivables and other receivables at the end of the reporting period was:
Expected credit losses 2021 £m
Expected credit losses 2020 £m
Gross 2021 £m
Net 2021 £m
Gross 2020 £m
Net 2020 £m
Group
Trade receivables: Not past due Past due 0–30 days Past due 31–90 days
24.3
(0.1) (0.1) (0.1) (1.4)
24.2
19.6 14.4
–
19.6 14.3
6.6 3.7 2.3
6.5 3.6 0.9
(0.1) (0.2) (2.2)
6.5 3.6
6.3 1.4
Past due more than 90 days
36.9
(1.7)
35.2
44.1
(2.5)
41.6
Other receivables: Not past due
1.9
–
1.9
0.9
–
0.9
Contract assets: Not past due
23.1
(0.2)
22.9
18.0
–
18.0
Total
61.9
(1.9)
60.0
63.0
(2.5)
60.5
The Company had no trade receivables (2020: £nil).
166
NCC Group plc — Annual report and accounts for the year ended 31 May 2021
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