UNBOUNCE - EXAMPLE PAGE-REPORT-ENTERPRISE DOCUMENT-KINGSPAN - Flipbook - Page 153
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2021 (continued)
12 Investments in Subsidiaries
2021
€m
2020
€m
At 1 January
Share options and awards
1,212.8
13.9
1,201.4
11.4
At 31 December
1,226.7
1,212.8
Company
The share options and awards addition reflect the cost of share based payments attributable to employees of subsidiary undertakings,
which are treated as capital contributions by the Company. The carrying value of investments is reviewed at each reporting date and
there were no indicators of impairment.
13 Inventories
Raw materials and consumables
Work in progress
Finished goods
Inventory impairment allowance
At 31 December
2021
€m
2020
€m
916.7
29.9
291.8
(99.5)
396.7
19.7
161.2
(71.7)
1,138.9
505.9
A total of €3.9bn (2020: €2.5bn) of inventories was included in the Consolidated Income Statement as an expense. This includes a net
income statement charge of €19.3m (2020: €1.7m) arising on the inventory impairment allowance. Inventory impairment allowance
levels are continuously reviewed by management and revised where appropriate, taking account of the latest available information on
the recoverability of carrying amounts.
No inventories have been pledged as security for liabilities entered into by the Group.
14 Trade and Other Receivables
2021
€m
2020
€m
Amounts falling due within one year:
Trade receivables, gross
Expected credit loss allowance
1,110.3
(87.4)
767.3
(65.1)
Trade receivables, net
Other receivables
Prepayments
Value added tax recoverable
1,022.9
134.5
69.2
1.8
702.2
65.2
32.2
-
1,228.4
799.6
The maximum exposure to credit risk for trade and other receivables at the reporting date is their carrying amount.
The Group uses an allowance matrix to measure Expected Credit Loss (ECL) of trade receivables from customers. The simplified approach
has been adopted and this gives rise to an ECL of €87.4m in 2021 (2020: €65.1m). This is presented in more detail in Note 19.
Company
Amounts falling due within one year:
Amounts owed by group undertakings
2021
€m
2020
€m
318.4
318.4
232.3
232.3
The amounts due from group undertakings are unsecured, interest free and are repayable on demand.
Kingspan Group plc Annual Report & Financial Statements 2021
Financial Statements
