v3.25.1
Trade and Other Receivables
 12 Months Ended
Dec. 31, 2024
Trade and Other Receivables [Abstract]  
Trade and other receivables
7.Trade and other receivables

 

(a)This caption was made up as follows:

 

   Current   Non-current 
   2024   2023   2024   2023 
   S/(000)   S/(000)   S/(000)   S/(000) 
                 
Trade receivables (b)   95,419    83,840    
-
    
-
 
Contract asset (d)   26,701    
-
    
-
    
-
 
Other accounts receivable   8,613    13,179    
-
    
-
 
Accounts receivable from Parent company and affiliates, note 22   1,969    1,973    
-
    
-
 
Interest receivable   963    1,091    
-
    
-
 
Loans to employees   910    1,061    
-
    
-
 
Funds restricted to tax payments   393    1,322    
-
    
 
 
Other receivables from sale of fixed assets   139    82    
-
    
-
 
Loans granted   
-
    1,014    
-
    
-
 
Allowance for expected credit losses (e) and (f)   (11,486)   (9,014)   
-
    
-
 
Financial assets classified as receivables (f)   123,621    94,548    
-
    
-
 
Value-added tax credit   7,547    5,140    643    1,193 
Claim to the SUNAT (c)   
-
    
-
    29,559    29,559 
Other accounts receivable   
-
    
-
    13,022    12,645 
Tax refund receivable   
-
    
-
    9,034    9,034 
Allowance for expected credit losses (e)   
-
    
-
    (9,034)   (9,034)
Non-financial assets classified as receivables   7,547    5,140    43,224    43,397 
    131,168    99,688    43,224    43,397 

 

(b)Trade account receivables presented net of discounts and bonuses, have current maturity (30 to 90 days) and those overdue bear interest.
(c)On March 22, 2021, the Company received Tax Court Resolution N° 00905-4-21 that declares the calculation of Mining Royalty should be based on gross sale of the final product (cement) for the years 2008 and 2009. This is an opposite position to what is established by the Constitutional Court in the STC Exp. N° 1043-2013-PA/TC that declares founded the writ of protection presented by the Company and its right to calculate the Mining Royalty exclusively based on the value of the mining component, without considering in any way the value of the final products derived from industrial and manufacturing processes.

 

Pursuant to this, the Company initiated two legal proceedings: (i) a constitutional process to denounce the repression of homogeneous harmful acts, filed on March 31, 2021; and, (ii) a contentious-administrative claim filed before the ordinary court, the object of which was the annulment and return of securities, filed on June 22, 2021.

 

To date, both processes have culminated with resolutions favorable to the Company's claim and it is noted that, with respect to the two aforementioned processes, the resolution issued by virtue of the Constitutional Court's Order, dated December 16, 2024, declares the constitutional grievance appeal well-founded and consequently the respective RTF void and orders the Tax Court to comply with the issuance of new resolutions complying with the judgment issued in STC 1043-2013-PA/TC regarding the calculation also applying to previous years, such as 2008 and 2009.

 

As a consequence of said administrative ruling, it is appropriate for SUNAT, either directly or through enforcement, to proceed with the return of the amounts paid by the Company amounting to S/29,559,000, since this constitutes a direct effect of the execution of the mandate ordered by the Constitutional Court. To date, we are awaiting the aforementioned refund and the Company is taking the corresponding legal actions for the recovery of said payments, which, in the opinion of Management and its external legal advisors, has a very high probability of obtaining a favorable result.

 

(d)It corresponds mainly to paving services whose recognition is carried out according to the provisions of note 2.3.13.

 

(e)The movement of the allowance for expected credit losses is as follows:

 

   2024   2023   2022 
   S/(000)   S/(000)   S/(000) 
             
Opening balance   18,048    16,467    14,573 
Additions, note 19   2,751    1,707    1,972 
Recoveries   (279)   (126)   (78)
                
Ending balance   20,520    18,048    16,467 

 

As of December 31, 2024, the additions include S/2,751,000 related to the provision for expected credit losses for trade receivables (S/1,707,000 as of December 31, 2023), which are presented in the caption "selling and distribution expenses” on the consolidated statement of profit and loss, see note 19.

(f)The aging analysis of trade and other accounts receivable as of December 31, 2024 and 2023, is as follows:

 

           Past due but not impaired 
As of December 31, 2024  Total   Neither past due nor
impaired		   < 30 days   30-60 days   61-90 days   91-120 days   > 120 days 
   S/(000)   S/(000)   S/(000)   S/(000)   S/(000)   S/(000)   S/(000) 
                             
Expected credit loss rate   8.5%   0.2%   2.0%   2.8%   2.6%   8.6%   82.5%
Carrying amount 2024   135,107    100,356    11,131    5,109    4,326    1,275    12,910 
Expected credit loss   11,486    244    228    145    114    110    10,645 

 

           Past due but not impaired 
As of December 31, 2023  Total   Neither past due nor
impaired		   < 30 days   30-60 days   61-90 days   91-120 days   > 120 days 
   S/(000)   S/(000)   S/(000)   S/(000)   S/(000)   S/(000)   S/(000) 
                             
Expected credit loss rate   8.7%   0.2%   1.0%   0.8%   7.6%   20.5%   64.4%
Carrying amount 2023   103,562    62,120    20,566    4,525    2,435    1,195    12,721 
Expected credit loss   9,014    147    206    37    186    245    8,193