Notes to the financial statements
14. Amounts receivable from customers
| Group | 2008 £m |
2007 £m |
|---|---|---|
| Amounts receivable from customers comprise: | ||
| – amounts due within one year | 552.2 | 422.7 |
| – amounts due in more than one year | 22.2 | 20.5 |
| 574.4 | 443.2 |
All lending is in the local currency of the country in which the loan is issued. The currency profile of amounts receivable from customers is as follows:
| Group | 2008 £m |
2007 £m |
|---|---|---|
| Polish zloty | 270.5 | 224.6 |
| Czech crown | 100.8 | 79.9 |
| Slovak crown | 36.9 | 25.6 |
| Hungarian forint | 105.4 | 84.9 |
| Central European currencies | 513.6 | 415.0 |
| Mexican peso | 38.1 | 22.9 |
| Romanian leu | 22.7 | 5.3 |
| 574.4 | 443.2 |
Amounts receivable from customers are held at amortised cost and are equal to the expected future cash flows receivable discounted at the average EIR of 120% (2007: 125%). All amounts receivable from customers are at fixed interest rates. The average period to maturity of the amounts receivable from customers is 5.3 months (2007: 5.4 months).
The Group has only one class of loan receivable and no collateral is held in respect of any customer receivables. The Group does not use an impairment provision account for recording impairment losses and therefore no analysis of gross customer receivables less provision for impairment is presented.
Revenue recognised on amounts receivable from customers which have been impaired was £328.8m (2007: £234.6m).