Page 108 - Paragon Annual Report 2

104 | Group financial statements
Notes to the consolidated financial statements (continued) 25 Financial risk management (continued)
Movement in the allowance for doubtful debts
Balance at beginning of period 2,069 Impairment provisions 358 Amounts written-off as uncollectible (215) Foreign exchange movements (94) Impairment provisions reversed (174) Balance at end of period 1,944
Ageing of past due but not impaired receivables:
Between 0 and 90 days 6,597 Between 91 and 120 days 381 Between 121 and 180 days 426 Over 181 days 165
2017
845
(235)
(24)
(597)
2016
€000
1,944
€000
1,933
2017
812
42
221
2016
€000
15,741
€000
7,569
Flexibility is maintained by retaining surplus cash in readily accessible bank accounts. Borrowing facilities are a combination of fixed term loan facilities with 2 years remaining and other credit facilities with no fixed expiration date.
Cash balances and forecasts are controlled at both local and Group level on a daily basis.
Capital risk management
The Group manages its capital to ensure that entities in the Group will each be able to continue as a going concern while maximising the return to stakeholders through the optimisation of the debt and equity balance. The capital structure of the Group consists of debt, which includes the borrowings disclosed in the Consolidated Statement of Cash Flow, cash and cash equivalents, and equity attributable to equity holders of the parent, comprising issued capital, reserves and retained earnings as disclosed in the Consolidated Statement of Changes
in Equity.
The above risks are adhered by the Group in the current and the prior financial period.
16,816
Liquidity risk
The Group aims to mitigate liquidity risk by managing cash generated by its operations and ensuring that adequate credit/borrowing facilities are in place.
Capital expenditures and related financing of investments are approved at a Group level. These are funded through a combination of internally generated cash resources and lease financing.
Paragon Group Limited – 05258175