2020 | 2019 | |
€m | €m | |
Amounts due from subsidiary companies (note 50) | 107.1 | 83.7 |
Prepayments – deposit on vessel under construction | - | 28.9 |
Other receivables | 0.4 | 0.3 |
107.5 | 112.9 |
Amounts due from subsidiary companies are interest free and repayable on demand. The increase in amounts due from subsidiary companies of €23.4 million principally relates to outstanding trading amounts invoiced at the year end. The reduction in prepayments relates to the return of a deposit on a cancelled shipbuilding contract. The Company has assessed credit losses as if the receivable had been demanded at the statement of financial position date. As all amounts are due from subsidiaries which were in a net asset position, the Company concluded that no allowance for credit losses was required as it would be immaterial. All subsidiaries which owe ICG funds are considered to be going concerns.