Notes to the Company financial statements
for the year ended 31 March 2009
| 6. Trade and Other Receivables |
| 7. CURRENT Financial Assets |
| 8. Cash and Cash Equivalents |
| 9. Provisions |
| 10. Trade and Other Payables |
6. Trade and Other Receivables
31 March 2009 |
31 March 2008 |
|
| Trade debtors | 59 | 83 |
| Prepayments and accrued income | 199 | 1,042 |
| Amounts due from subsidiary undertakings | 577,090 | 742,095 |
| VAT | 81 | - |
| Other receivables | 2,274 | 4,376 |
| 579,703 | 747,596 |
31 March 2009 |
31 March 2008 |
|
| Proceeds in escrow due from sale of Airtricity Holdings Limited | 63,274 | 474 |
The movement during the year was:
€’000 |
|
| Balance at 1 April 2007 | - |
| Escrow arising on sale of Airtricity Holdings Limited | 456 |
| Effect of movement in foreign exchange | 18 |
| Balance at 1 April 2008 | 474 |
| Airtricity sale escrow transferred from non-current financial assets | 56,067 |
| Escrow related professional fees | (172) |
| Additional escrow arising in year | 2,659 |
| Effect of movement in foreign exchange | 4,246 |
| Balance at 31 March 2009 | 63,274 |
€32.1m of the escrow monies due from the sale of Airtricity Holdings Limited were received since the year end, in accordance with the escrow agreement.
31 March 2009 |
31 March 2008 |
|
| Cash and cash equivalents in the Company balance sheet and statement of cashflows | 1,731 | 3,035 |
Restructuring €’000 |
Other €’000 |
Total €’000 |
|
| Balance at 1 April 2007 | - | - | - |
| Provisions made during the year | 10,000 | 20,000 | 30,000 |
| Balance at 1 April 2008 | 10,000 | 20,000 | 30,000 |
| Provisions released during the year | - | (1,221) | (1,221) |
| Provisions made during the year | 2,121 | 2,457 | 4,578 |
| Expenditure during the year | (1,567) | - | (1,567) |
| Transfer from trade and other payables | - | 430 | 430 |
| Balance at 31 March 2009 | 10,554 | 21,666 | 32,220 |
| Payable within one year | 10,554 | - | 10,554 |
| Payable after more than one year | - | 21,666 | 21,666 |
| 10,554 | 21,666 | 32,220 |
Restructuring
The restructuring provision is in relation to the cost of restructuring programmes.
It is expected that all costs will become payable within one year.
Other
Other provisions are provisions for costs associated with discontinued
operations.
31 March 2009 |
31 March 2008 |
|
| Trade and other payables | 24,608 | 40,213 |
| VAT | - | 169 |
| PAYE/PRSI | 462 | 257 |
| Amounts owed to subsidiary undertakings | 212,069 | 202,180 |
| 237,139 | 242,819 |
Amounts owed to subsidiary undertakings are unsecured, interest free and repayable on demand.