Financial Reporting Problem Marks and Spencer plc (M&S)

The financial statements of M&S (GBR) are presented in Appendix A. The company’s complete annual report, including the notes to the financial statements, is available online.

Instructions Refer to M&S’s financial statements and the accompanying notes to answer the following questions.

(a) What criteria does M&S use to classify “Cash and cash equivalents” as reported in its statement of financial position?

(b) As of 3 April 2013, what balances did M&S have in cash and cash equivalents? What were the major uses of cash during the year?

(c) What amounts related to trade receivables does M&S report? Does M&S have any past due but not impaired receivables?