98
21.- TRADE PAYABLES
The breakdown of this item in the consolidated balance sheet at 31 December 2014 and 2013 is as follows (€thousand):
€Thousand
2014
2013
Trade payables
206,288
208,160
Advance payments from customers
25,139
21,428
231,427
229,588
The “Trade payables” item reflects the accounts payable arising from the Group’s regular trading activities.
The “Advance payments from customers” item mainly includes customer deposits arising from the Group’s hotel businesses.
22.- INFORMATION ON DEFERRED PAYMENTS TO SUPPLIERS. THIRD ADDITIONAL
PROVISION. “DUTY TO REPORT” OF ACT 11/2013 OF 26 JULY
A breakdown of the information required by the Third Additional Provision of Act 15/2010 of 5 July on agreements executed under Spanish legislation
appears below:
2014
2013
€Thousand
%
€Thousand
%
Payments made within the maximum legal term
93,882
35%
186,466
70%
Remainder
171,783
65%
81,102
30%
Total payments in the financial year
265,665
100%
267,568
100%
Weighted average exceeded payment period (days)
65
38
Deferrals which exceeded the maximum legal deadline at year-end
19,833
18,418
The above information on payments to suppliers refer to those which by their nature are trade creditors due to debts with suppliers of goods and
services. The table includes, therefore, the “Trade creditors” item in current liabilities of the attached consolidated balance sheet at 31 December
2014.
The weighted average exceeded payment period (PMPE) has been calculated as the sum of the product of each of the supplier payments made
in the year with a delay exceeding the legal payment deadline and the number of days by which the relevant deadline has been exceeded in the
numerator, and the total amount of the payments made in the year with a delay exceeding the legal payment deadline in the denominator.
The maximum legal payment period applicable to the Group’s Spanish companies in 2014 and 2013 is 30 days, unless there is an agreement between
the parties with a maximum period of 60 days, in accordance with Law 4/2013 of 26 July, amending Law 3/2004, establishing measures to combat
delinquency in commercial transactions.
The weighted average exceeded payment period (PMPE) for payments due in 2014 is higher because after the migration of the accounting system
in January 2014, payments were delayed in the first half of 2014 until the system was stabilised.
23.- OTHER CURRENT LIABILITIES
The composition of this item at 31 December 2014 and 2013 is as follows:
€Thousand
2014
2013
Outstanding remuneration
30,555
28,687
Compensation for termination of the Hotel Bühlerhöhe lease (Note 17)
3,915
2,936
Linearisation of revenue
3,l59
1,970
Corporate restructuring provision in Mexico
-
2,500
Provision for Los Cortijos refurbishment expenses
-
682
Other creditors
7,935
2,224
45,564
38,999
In 2014 the corporate restructuring provision was applied in Mexico due to a company divestment operation there in April.
REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
