Annual Report and Accounts 2009

Notes to the Consolidated Financial Statements for the year to 31 December 2009

17. Other financial assets

Trade and other receivables

  Current Non-current
  2009
£m
2008
£m
2009
£m
2008
£m
Trade receivables 77.3 127.3 48.0 40.0
Joint ventures 0.2
Currency and interest rate derivatives 11.1 3.0
Other receivables 53.2 54.0 5.9 4.7
  130.5 181.3 65.0 47.9

The average credit period taken on sales is 13 days (2008: 13 days). An allowance has been made for estimated irrecoverable amounts from trade receivables of £7.0m(2008: £3.7m). This allowance has been determined by reference to past default experience.

Cash and cash equivalents

  2009
£m
2008
£m
Cash and cash equivalents (see Note 21) 132.1 752.3

Cash and cash equivalents comprise cash held by the Group and short term bank deposits with an original maturity of three months or less. The carrying amount of these assets approximates their fair value in both years.