Audited Results

for the year ended 31 March 2009

Accounts receivable analysis

The company applies a payment rating assessment to each customer individually, which categorises customers into 13 payment categories. This assessment is integral to the calculation of doubtful debts. The 13 payment categories has been summarised into four main groupings of customers.

An analysis of the debtors book based on the payment ratings is set out below:

          Doubtful Debt
  Number of Customers   Provision %
Debtors' Payment Analysis   2009 2008   2009 2008
Satisfactory paid No 497 296 534 286      
Customers fully up to date including those who have paid 70% or more of amounts due over the contract period % 72.0% 75.1%   0% 0%
Slow payers No 57 042 51 759      
Customers who have paid between 70% and 65% of amounts due over the contract period % 8.2% 7.3%   20% 17%
Non-performing customers No 50 300 47 130      
Customers who have paid between 65% and 55% of amounts due over the contract period % 7.3% 6.6%   42% 42%
Non-performing customers No 86 448 78 413      
Customers who have paid 55% or less of amounts due over the contract period % 12.5% 11.0%   88% 86%
    691 086 711 588   15.7% 13.5%
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