88 REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
12.- TRADE RECEIVABLES
This item reflects different accounts receivable from the Group’s operations. The breakdown at 31 December 2015 and 2014 is as follows:
Thousands of euros
2015
2014
Trade receivables for services provided
181,523
149,054
Provision for bad debts
(12,254)
(13,042)
Total
169,269
136,012
As a general rule, these receivables do not accrue interest and are due at less than 90 days with no restrictions on how they may be availed.
Movements in the provision for bad debts during the years ending 31 December 2015 and 2014 were as follows:
Thousands of euros
2015
2014
Balance at 1 January
13,042
15,649
Changes in scope
73
(4,271)
Exchange differences
(88)
(19)
Additions
2,605
2,852
Applications
(3,378)
(1,169)
Balance at 31 December
12,254
13,042
The analysis of the ageing of financial assets in arrears but not considered impaired at 31 December 2015 and 2014 is as follows:
Thousands of euros
2015
2014
Less than 30 days
21,786
27,828
From 31 to 60 days
11,034
15,726
More than 60 days
41,881
28,721
Total
74,701
72,275
13.- CASH AND CASH EQUIVALENTS
This item essentially includes the Group’s cash position, along with any loans granted and bank deposits that mature at no more than three months.
The average interest rate obtained by the Group for its cash and cash equivalents balances during 2015 and 2014 was a variable Euribor-indexed
rate. These assets are recognised at their fair value.
There are no restrictions on how cash may be used, except for an amount of 1,575 thousand euros reserved, according to a commitment with Hoteles
Royal co-proprietors, for future hotel capex investments.
As a result of the enactment of Royal Decree 1558/2012 of 15 November, of Article 42 bis of Royal Decree 1065/2007 of 27 July, approving the
General Regulations on tax management, inspection and procedures, and implementing the common rules of the procedures for applying taxes,
which establishes certain reporting obligations with regard to overseas assets and rights, among others, it is disclosed that some members of the NH
Hotel Group S.A. Board of Directors have the right, as representatives or authorised officials, to dispose of bank accounts located abroad, which are
in the name of Group companies. The reason certain Board members have the right to dispose of overseas bank accounts is that they are Directors
or board members of said subsidiaries.
NH Hotel Group S.A. holds other accounting documents, namely the consolidated annual accounts, from which sufficient data can be extracted in
relation to the aforementioned accounts.
