Trade and other receivables
Trade receivables are initially recognised at the transaction price and subsequently measured at amortised cost using effective interest rates, less impairment. If there is no difference between the initial value and the amount (amounts) at maturity (maturities) (payment), interest charged using the effective rate does not apply.
Impairment of receivables is determined on the basis of expected credit losses. Expected credit losses take into account the counterparty’s previous default events as well as potential estimated credit losses. An impairment loss is recognised in the statement of profit and loss and other comprehensive income at the end of each reporting period.
Impairment of trade and other receivables
| As at | ||
|---|---|---|
| 31 December 2020 | 31 December 2019 | |
| Trade receivables | 1 434 284 | 1 240 224 |
| Tax (excluding income tax) and other benefit receivables | 218 734 | 285 819 |
| Other receivables | 251 837 | 272 228 |
| Advances | 361 586 | 470 681 |
| Prepaid property insurance | 5 345 | 12 459 |
| Current trade and other receivables gross | 2 271 786 | 2 281 411 |
| Minus: impairment of receivables | (139 595) | (157 844) |
| Net current trade and other receivables | 2 132 191 | 2 123 567 |
Other current receivables mainly include transaction collateral.
| As at | ||
|---|---|---|
| 31 December 2020 | 31 December2019 | |
| Trade receivables | 3 594 | 4 032 |
| Collateral deposits for futures transactions to purchase CO2 emission allowances | 65 142 | 9 753 |
| Other receivables | 3 645 | 7 077 |
| Non-current trade and other receivables gross | 72 381 | 20 862 |
| Minus: impairment of receivables | – | – |
| Net non-current trade and other receivables | 72 381 | 20 862 |