COMPANY       GROUP
2015   2014     (R’million) 2015   2014  
        21 Trade and other receivables        
        21.1 Analysis of trade and other receivables        
          Trade receivables 4 459,1   4 194,7  
          Tax overpaid 34,5   50,1  
          Prepayments 131,0   203,7  
          Defined benefit pension surplus (refer note 34) 54,2   63,0  
          VAT receivable 229,4   225,6  
          Rebates 96,2   92,4  
18,7   85,6     Sundry receivables 446,4   517,4  
18,7   85,6     Total gross receivables 5 450,8   5 346,9  
          Impairment provision – Trade receivables (555,1)   (479,5)  
18,7   85,6     Total net receivables 4 895,7   4 867,4  
Trade receivables, which generally have 30 to 60-day terms, are non-interest-bearing and are recognised and carried at original invoice amount less an allowance for any uncollectible amounts. Included within trade receivables is derivative assets of R18,9 million (2014: R13,4 million) which are carried at fair value. Refer to note 37 for further details

COMPANY       GROUP
2015   2014     (R’million) 2015   2014  
        21.2 Impairment provisions        
          Provision is made when there is objective evidence that the company will not be able to collect the debts. The allowance raised is the amount needed to reduce the carrying value to the present value of expected future cash receipts. Bad debts are written off when identified. Movements in the impairment provision were as follows:        
          Balance at the beginning of the year (479,5)   (443,6)  
          Utilised during the year –   –  
          Reversed during the year 6,8   22,4  
          Raised during the year (82,4)   (58,3)  
          Balance at the end of the year (555,1)   (479,5)  
        21.3 Past due analysis        
          As at 30 September, the ageing of trade receivables was as follows:        
          Not past due 2 898,8   2 835,3  
          The historical level of customer default is minimal and as a result the credit quality of year-end receivables, which are not past due or impaired, is considered to be favourable.        
          Past due        
             Current to 60 days 912,0   872,6  
             61 to 90 days 112,7   46,6  
             91 – 180 days 39,3   1,5  
             > 180 days 496,3   438,7  
          Total 4 459,1   4 194,7  
          As at 30 September, the ageing of sundry receivables and defined benefit pension surplus was as follows:        
18,7   85,6     Not past due 344,2   682,4  
          Past due        
             Current to 60 days 117,7   110,9  
             61 to 90 days 336,6   84,8  
             91 – 180 days 27,7   1,2  
             > 180 days –   19,1  
18,7   85,6     Total 826,2   898,4  
        21.4 Trade receivable analysis        
          Industry spread of trade receivables:        
          Retail 1 789,2   2 203,7  
          Wholesale/distributors 1 877,9   1 385,1  
          Export 729,5   463,4  
          Other 62,5   142,5  
          Total 4 459,1   4 194,7  
          Geographical spread of trade receivables:        
          South Africa 2 791,2   2 645,5  
          Rest of Africa 1 499,6   1 502,2  
          Europe 61,1   12,3  
          Rest of the world 107,2   34,7  
          Total 4 459,1   4 194,7  
        21.5 Collateral held        
          Fair value of collateral held 13,5   13,1  
          Collateral held represents hawker deposits which may be applied against accounts which are in default.