Financial statements of JSW S.A. for 2012

14. Trade receivables and other receivables

	31 Dec 2012	31 Dec 2011
Gross trade receivables	789.7	833.7
Minus: revaluation charge	(21.3)	(22.1)
Trade receivables (net)	768.4	811.6
Prepayments and accruals	1.3	0.2
Prepayments	0.9	-
Receivables related to taxes and social security	59.5	37.4
Other receivables *	175.1	171.3
Total trade receivables and other receivables	1,005.2	1,020.5

* This item presents receivables from municipalities on account of the disputed property tax on underground mine workings, which are PLN 163.8 million as at 31 December 2012 (PLN 163.9 million as at 31 December 2011. It may take more than 10 years to receive these payments.

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Fair value of trade receivables and other receivables is not significantly different from their book value.
The currency structure of the Company's trade receivables is as follows:

	31 Dec 2012	31 Dec 2011
Trade receivables [PLN]	587.1	765.7
Trade receivables [EUR]	180.5	45.9
Trade receivables [CZK]	0.8	-
Total trade receivables	768.4	811.6

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The age structure of overdue trade receivables which do not show signs of impairment is presented in the table below:

	31 Dec 2012	31 Dec 2011
Up to 1 month	43.8	12
From 1 to 3 months	0.4	-
From 3 to 6 months	0.1	-
From 6 to 12 months	-	-
Above 12 months	-	-
Total	44.3	12

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Changes in the balance of revaluation charge for trade receivables are presented in the following table:

	2012	2011
As at 1 January	22.1	23
Charge establishment	3.5	11
Utilization of the revaluation charge for uncollectible receivables	(0.7)	(3.9)
Reversal of unused amounts	(3.6)	(8.0)
As at 31 December	21.3	22.1

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Establishment and reversal of revaluation charges for receivables is shown in administrative costs (the principal) and in other cost/income (overdue interest).