XML 39 R25.htm IDEA: XBRL DOCUMENT v3.23.3
Trade and Other Receivables
12 Months Ended
Jun. 30, 2023
Subclassifications of assets, liabilities and equities [abstract]  
Trade and Other Receivables Trade and Other Receivables
2023
£’000
2022
 £’000
Trade receivables£143,336 £131,650 
Prepayments11,055 8,865 
Accrued income12,775 13,458 
Research and development tax credit3,013 3,266 
Grant receivable2,877 437 
Other receivables4,810 4,995 
Total trade and other receivables£177,866 £162,671 
Trade receivables are non-interest-bearing and are generally on 30 to 90 day terms depending on the geographical territory in which sales are generated. The carrying value of trade and other receivables also represents their fair value.
Trade receivables are disclosed net of expected credit loss allowance for doubtful debts, as shown below. Credit loss rates have been established for trade receivables and accrued income based on historic loss rates.. In addition, certain balances (where there was objective evidence of credit impairment linked to the ageing of the debtor balance and an analysis of the debtors’ current financial position) have been provided for on an individual basis.
Trade receivables and accrued income represent client contract assets. Other than the expected credit loss allowance discussed above, and business-as-usual movements there were no significant changes in contract assets during the year.
Of the £12.8 million accrued income balance as of 30 June 2023, £1.2 million arises from acquired companies during the reporting period (£0.4 million as of 30 June 2022). Accrued income transfers to trade receivables, when invoices are billed to customers.
The total research and development tax credit receivable as of 30 June 2023 is £6.4 million, out of which £3.4 million is receivable in a period of over one year from the balance sheet date and presented under non-current financial assets and other receivables.
The total prepayments as of 30 June 2023 are £12.7 million, out of which £1.6 million are to be realised in a period of over one year from the balance sheet date and presented under non-current financial assets and other receivables.
The following table presents the trade receivables and accrued income ageing intervals and the allocation of the expected credit loss allowance as of 30 June 2023 and 30 June 2022:
2023
 £’000
2022
 £’000
Trade receivables and accrued income - grossExpected credit loss allowanceTrade receivables and accrued income - grossExpected credit loss allowance
Current135,844 (248)122,914 (854)
1 - 30 days overdue8,032 (147)7,411 (94)
31 - 60 days overdue6,532 (104)9,520 (338)
61 - 90 days overdue2,447 (71)3,465 (141)
Over 90 days overdue7,750 (3,924)5,821 (2,596)
Total160,605 (4,494)149,131 (4,023)

The gross and net amounts of trade receivables and accrued income were as follows:
2023
£’000
2022
 £’000
Trade receivables - gross£147,830 £135,665 
Expected credit loss allowance(4,494)(4,015)
Trade receivables - net£143,336 £131,650 

2023
 £’000
2022
 £’000
Accrued income - gross£12,775 £13,466 
Expected credit loss allowance— (8)
Accrued income - net£12,775 £13,458 
Movements in the expected credit loss allowance were as follows:
2023
 £’000
2022
 £’000
As at 1 July£4,023 £3,537 
Provided in the year6,181 4,628 
Released in the year(5,249)(3,889)
Utilised in the year(301)(492)
Effect of foreign exchange translations(160)239 
As at 30 June£4,494 £4,023