4 - Refresco.de

Financial review 2009
Ageing and impairment losses
The ageing of trade and other receivables at the reporting date was as follows:
EUR’000
2009 2008
Gross Impairment Gross Impairment
Not past due 156,757 0 155,002 0
Past due 0 - 30 days 15,993 0 22,548 0
Past due 31 - 60 days 2,074 0 1,309 0
Past due more than 60 days 2,964 1,316 3,724 1,730
177,788 1,316 182,583 1,730
The movements in the impairment loss in respect of trade and other receivables during the year were as follows:
EUR’000
2009 2008
January 1 1,730 2,086
Impairment loss recognized 167 232
Release of provision (238) (390)
Written off (350) (126)
Effect of movements in exchange rates 7 (72)
December 31 1,316 1,730
The Group determines impairment losses on the basis of specific estimates of losses incurred in respect of trade
and other receivables. Based on historic default rates, the Group believes that no impairment loss has occurred in
respect of trade receivables not past due or past due by up to 60 days.
Liquidity risk
The contractual maturities of financial liabilities, including estimated interest payments and excluding the impact of
netting agreements, are as shown in the following table.
Insofar as these cash flows depend on future floating interest rates, the level of which was unknown on the balance
sheet date, these cash flows have been estimated on the basis of rates prevailing on the balance sheet date.