20. Trade and Other Receivables

in thousands of EUR

Notes

31 December 2015

31 December 2014

Trade receivables

158,842

144,999

Less: provision for impairment of trade receivable

- 7,677

-9,118

Trade receivables – net

151,165

135,881

Receivables from related parties

37.1

9,145

2,166

Taxes and social security

22,441

27,239

Other receivables

46,825

47,755

Prepayments

37,340

44,260

266,916

257,301

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 €7,677 (2014: €9,118) for the impairment of its trade receivables. The addition to and usage of the provision for impaired receivables have been included in the selling and marketing costs in the Income Statement.

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

in thousands of EUR

2015

2014

At 1 January

9,118

9,327

Additions to provision for bad and doubtful debts

3,433

2,783

Receivables written off during the year as uncollectible

- 3,980

- 2,205

Unused amounts reversed

- 809

- 758

Exchange differences

- 85

- 29

At 31 December

7,677

9,118

As of 31 December 2015 €49,657 of the net trade receivables were past due but not impaired (2014: €42,217). 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 2015

31 December 2014

Up to 3 months

131,835

129,716

Between 3 and 6 months

11,349

6,830

Between 6 and 9 months

8,456

1,259

Over 9 months

7,202

7,194

158,842

144,999

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 2015

31 December 2014

Euro (EUR)

79,064

68,773

British Pound Sterling (GBP)

15,888

11,825

Brazilian Real (BRL)

12,258

16,245

Chilean Peso (CLP)

10,360

7,977

Danish Krone (DKK)

8,232

7,371

Other

25,363

23,690

Total

151,165

135,881