2021 | 2020 | |
€m | €m | |
Amounts due from subsidiary companies (note 48) | 54.3 | 107.1 |
Prepayments – deposit on vessel | 3.2 | - |
Other receivables | 0.3 | 0.4 |
57.8 | 107.5 |
Amounts due from subsidiary companies are repayable on demand. The decrease in amounts due from subsidiary companies of €52.8 million principally relates to repayment of amounts demanded to facilitate repayment of financing balances (note 48). The increase in prepayments relates to the deposits paid for a vessel for which purchase was agreed prior to the reporting date with the balance due in early 2022. 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 at the reporting date, other than €0.4 million receivable from a subsidiary in a net liability position, the Company concluded that no allowance for credit losses was required as it would be immaterial.