Page 89 - Paragon Annual Report 2

Notes to the consolidated financial statements (continued) 16 Inventories
Raw materials and consumables Work in progress
Finished goods and goods for resale
10,112 1,653 8,721
20,486
59,630 (1,944)
57,686 1,063 2,585
106 – 4,412
65,852
504
504
| 85
2017
17,928
6,289
9,593
2016
€000
€000
33,810
There was no write-down of inventories in either period. Inventories included in cost of sales in the year amounted to €186,567 (2016: €170,978).
17 Other financial assets
Trade and other receivables
Amounts receivable for the sale of goods and services Allowance for doubtful debts
Trade receivables
VAT receivables
Other receivables
Amount due from related party
Amount due from joint ventures and associates Prepayments and other assets
The Directors consider that the carrying amount of trade and other receivables approximates their fair value.
Other non-current assets
Other receivables (see below)
2017
€000
109,285
(1,933)
2016
€000
107,352
3,129
4,937
124,323
47
755
8,103
2017
€000
489
2016
€000
489
The Group’s French operations have an obligation to make contributions to a French state fund on an annual basis. There are various accounting treatments available to contributors to the fund. One of these is to be refunded by the French state, on an interest free basis, after a period of twenty years. The amount noted above has been discounted and reflects the fair value of the amounts receivable. The Group received a net refund from the French state fund in the current year of €23,000 (2016: €27,000).
Cash and cash equivalents 26,315
Cash and cash equivalents 26,315
Cash and cash equivalents comprise cash held by the Group and short term bank deposits with an original maturity of three months or less. The carrying amounts of these assets approximate their fair value.
2017
43,804
43,804
2016
€000
€000
Paragon Group Limited – 05258175