Babylon Holdings Limited Registration statement for securities of certain foreign private issuers

Registration statement for securities of certain foreign private issuers

Trade and Other Receivables, Prepayments and Contract Assets

Trade and Other Receivables, Prepayments and Contract Assets

12 Months Ended

Dec. 31, 2020

Trade and Other Receivables, Prepayments and Contract Assets

17.	Trade and other receivables, Prepayments and contract assets


	2020			2019
	$’000			$’000
Trade receivables (Note 6)		4,674			3,016
Other receivables		8,914			9,826
Prepayments		6,463			4,846
Contract assets		2,378			1,541
VAT (payable) receivable		(63	)		3,875

		22,366			23,104

The Group has assessed its expected credit loss estimate, in line with the requirements of IFRS 9, by taking into consideration historical credit loss experience and financial factors specific to the debtors and general economic conditions. As part of this assessment, the Group has performed a recoverability assessment of its outstanding trade and other receivables at the reporting date and concluded that the expected credit loss as of December 31, 2020 is immaterial (2019: $0).

The table below shows significant changes in contract assets:


	2020			2019
	$’000			$’000
Balance, beginning of year		1,541			750
Revenues recognized but not billed		1,511			765
Amounts reclassified to trade receivable		(674	)		26

Balance, end of year		2,378			1,541