20. Trade and Other Receivables

in thousands of EUR

Notes

31 December 2014

31 December 2013

Trade receivables

144,999

130,420

Less: provision for impairment of trade receivable

- 9,118

-9,327

Trade receivables – net

135,881

121,093

Receivables from related parties

34.2

2,166

4,661

Taxes and social security

27,239

23,970

Other receivables

47,755

45,797

Prepayments

44,260

33,430

257,301

228,951

The Group’s historical experience in collection of accounts receivable is considered in the recorded allowances. Due to these factors, management believes that no additional credit risk beyond amounts provided for collection losses is inherent in the Group’s trade receivables. The Group has recognized a provision of €9,118 (2013: €9,327) for the impairment of its trade receivables. The creation and usage of the provision for impaired receivables have been included in the selling and marketing costs in the Income Statement.

The increase in trade and other receivables is for €27,789 related to acquisitions.

Movements on the provision for the impairment of trade receivables are as follows:

in thousands of EUR

2014

2013

At 1 January

9,327

8,918

Additions to provision for bad and doubtful debts

2,783

3,322

Receivables written off during the year as uncollectible

- 2,205

- 1,744

Unused amounts reversed

- 758

- 812

Exchange differences

- 29

- 357

At 31 December

9,118

9,327

As of 31 December 2014 €42,217 of the net trade receivables were past due but not impaired (2013: €31,787). The due date of these receivables varies from 1 month to more than 9 months. These relate to a number of franchisees and customers, for whom there is no recent history of default.

The ageing analysis for the trade receivables is as follows:

in thousands of EUR

31 December 2014

31 December 2013

Up to 3 months

129,716

109,351

Between 3 and 6 months

6,830

9,592

Between 6 and 9 months

1,259

3,367

Over 9 months

7,194

8,110

144,999

130,420

The carrying value less provision for the impairment of trade receivables is equal to the fair value.

The carrying amounts of the Group’s trade receivables, including provision, are denominated in various currencies which at year-end rate have the following values in €:

in thousands of EUR

31 December 2014

31 December 2013

Euro (EUR)

68,773

63,024

Brazilian Real (BRL)

16,245

14,028

British Pound Sterling (GBP)

11,825

13,485

Chilean Peso (CLP)

7,977

8,142

Danish Krone (DKK)

7,371

5,358

Other

23,690

17,056

Total

135,881

121,093