REG - YouGov PLC - Preliminary Results <Origin Href="QuoteRef">YOU.L</Origin> - Part 3

YouGovAnnouncement

12/10/2015 07:01

- Part 3: For the preceding part double click  ID:nRSL8871Bb 

       -           -                       -         (133)                (1,918)   
 Internally developed      -         (1,842)                            -           -                       -         (17)                 (1,859)   
 Disposals                 -         (12)                               -           -                       -         -                    (12)      
 Exchange differences      5         82                                 108         (30)                    -         12                   177       
 Closing net book amount   2,197     5,589                              1,849       466                     -         251                  10,352    
 At 31 July 2015                                                                                                                                     
 Cost                      12,182    16,329                             4,576       2,869                   -         988                  36,944    
 Accumulated amortisation  (9,985)   (10,740)                           (2,727)     (2,403)                 -         (737)                (26,592)  
 Net book amount           2,197     5,589                              1,849       466                     -         251                  10,352    
 
 
9          PROPERTY, PLANT AND EQUIPMENT 
 
                           Freehold   Leasehold      Computer    Fixtures   Motor      Total    
                           property   property       equipment   and        vehicles   £'000    
                           £'000      improvements   £'000       fittings   £'000               
                                      £'000                      £'000                          
 At 1 August 2013                                                                               
 Cost                      1,449      376            2,439       1,018      74         5,356    
 Accumulated depreciation  (223)      (312)          (1,803)     (707)      (55)       (3,100)  
 Net book amount           1,226      64             636         311        19         2,256    
 Year ended 31 July 2014                                                                        
 Opening net book amount   1,226      64             636         311        19         2,256    
 Additions:                                                                                     
 Business combinations     −          −              16          4          −          20       
 Separately acquired       −          447            400         134        67         1,048    
 Disposals                 −          −              (1)         −          (12)       (13)     
 Depreciation              (59)       (35)           (428)       (92)       (17)       (631)    
 Exchange differences      (119)      (8)            (37)        (24)       (3)        (191)    
 Closing net book amount   1,048      468            586         333        54         2,489    
 At 31 July 2014                                                                                
 Cost                      1,305      799            2,443       1,100      72         5,719    
 Accumulated depreciation  (257)      (331)          (1,857)     (767)      (18)       (3,230)  
 Net book amount           1,048      468            586         333        54         2,489    
 Year ended 31 July 2015                                                                        
 Opening net book amount   1,048      468            586         333        54         2,489    
 Additions:                                                                                     
 Separately acquired       -          337            468         294        24         1,123    
 Disposals                 -          -              -           (37)       -          (37)     
 Depreciation              (49)       (130)          (385)       (117)      (22)       (703)    
 Exchange differences      88         3              2           3          5          101      
 Closing net book amount   1,087      678            671         476        61         2,973    
 At 31 July 2015                                                                                
 Cost                      1,416      1,011          2,376       1,302      103        6,208    
 Accumulated depreciation  (329)      (333)          (1,705)     (826)      (42)       (3,235)  
 Net book amount           1,087      678            671         476        61         2,973    
 
 
All property, plant and equipment disclosed above, with the exception of those
items held under lease purchase agreements, are free from restrictions on
title. No property, plant and equipment either in 2015 or 2014 has been
pledged as security against the liabilities of the Group. 
 
The net book value of assets held under finance leases is as follows: 
 
                           Freehold   Leasehold      Computer    Fixtures   Motor      Total   
                           property   property       equipment   and        vehicles   £'000   
                           £'000      improvements   £'000       fittings   £'000              
                                      £'000                      £'000                         
 At 31 July 2014                                                                               
 Cost                      −          −              54          31         −          85      
 Accumulated depreciation  −          −              (14)        (6)        −          (20)    
 Net book amount           −          −              40          25         −          65      
 At 31 July 2015                                                                               
 Cost                      -          -              48          28         -          76      
 Accumulated depreciation  -          -              (32)        (8)        -          (40)    
 Net book amount           -          -              16          20         -          36      
 
 
10       TRADE AND OTHER RECEIVABLES 
 
                                  31 July 2015  31 July 2014  
                                  £'000         £'000         
 Trade receivables                13,957        13,547        
 Other receivables                1,056         786           
 Prepayments and accrued income   7,729         7,584         
                                  22,742        21,917        
 Provision for trade receivables  (235)         (230)         
                                  22,507        21,687        
                                                              
 
 
The Directors consider that the carrying amount of trade and other receivables
approximate to their fair value. 
 
As at 31 July 2015, trade receivables of £7,408,000 (2014: £6,081,000) were
overdue but not impaired. These relate to a number of customers for which
there is no recent history of default or any other indication that the
receivable should not be fully collectible. The ageing analysis of past due
trade receivables which are not impaired is as follows: 
 
                                 31 July 2015  31 July 2014  
                                 £'000         £'000         
 Up to three months overdue      3,846         4,206         
 Three to six months overdue     2,186         960           
 Six months to one year overdue  954           603           
 More than one year overdue      422           312           
                                 7,408         6,081         
                                                             
 
 
Movement on the Group provision for impairment of trade receivables is as
follows: 
 
                                                   2015    2014    
                                                   £'000   £'000   
 Provision for receivables impairment at 1 August  230     150     
 Provision created in the year                     189     201     
 Provision utilised in the year                    (194)   (109)   
 Exchange differences                              10      (12)    
 Provision for receivables impairment at 31 July   235     230     
                                                                   
 
 
The creation and release of the provision for impaired receivables has been
included in the consolidated income statement. The other classes within trade
and other receivables do not contain impaired assets. The maximum exposure to
credit risk at the reporting date is the carrying value of each class of
receivable mentioned above. The Group does not hold any collateral as
security. 
 
The average length of time taken by customers to settle receivables is 56 days
(2014: 64 days). Concentrations of credit risk do exist with certain clients
with which we have trading relationships but none has a history of default and
all command a certain stature within the marketplace which minimises any
potential risk of default. Material balances (defined as greater than £250,000
(2014: greater than £250,000)) represent 28% of trade receivables (2014:
26%). 
 
At 31 July 2015, £397,000 (2014: £474,000) of the trade and other receivables
of YouGov Nordic and Baltic A/S were used as security against a loan and
revolving overdraft facility held by YouGov Nordic and Baltic A/S. 
 
11         TRADE AND OTHER PAYABLES 
 
                               31 July 2015  31 July 2014  
                               £'000         £'000         
 Trade payables                2,354         3,102         
 Accruals and deferred income  13,574        12,252        
 Other payables                3,114         2,176         
                               19,042        17,530        
                                                           
 
 
12     CONTINGENT CONSIDERATION 
 
                                          Definitive  Decision Fuel£'000  Total   
                                          Insights                        £'000   
                                          £'000                                   
 At 1 August 2013                         551         -                   551     
 Settled during the year                  (314)       (18)                (332)   
 Provided during the year                 92          189                 281     
 Discount unwinding                       18          1                   19      
 Foreign exchange differences             (49)        (3)                 (52)    
 Balance at 31 July 2014                  298         169                 467     
 Included within current liabilities      298         -                   298     
 Included within non-current liabilities  -           169                 169     
 Settled during the year                  (330)       -                   (330)   
 Released during the year                 -           (133)               (133)   
 Discount unwinding                       8           -                   8       
 Foreign exchange differences             24          -                   24      
 Balance at 31 July 2015                  -           36                  36      
 Included within current liabilities      -           -                   -       
 Included within non-current liabilities  -           36                  36      
                                                                                    
                                                                                          
 
 
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