63 Finsbury Food Group Annual Report & Accounts 2016





   are interest rate risk and liquidity risk. The Group’s policies on the management of liquidity, credit, interest rate and foreign currency risks are set out below and also referred to in the Strategic Report on pages 8 to 21.


a) Fair Values of Financial Instruments    approximation of fair values.


The fair values of forward exchange contracts and interest rate swaps are determined using a market comparison valuation technique. The fair  instruments. The fair values relating to these instruments represent level 2 in the fair value hierarchy which relates to the extent the fair value  market through to level 3 where the assumptions used to arrive at fair value do not have comparable market data.


    interest rates prevailing at the 2 July 2016.


 At year ended 2 July 2016


 Secured bank loans


 Invoice discounting Trade creditors


 Interest rate swaps liabilities


Carrying amount £000


Total £000


1 year or less £000


1 to 2 years £000


2 to 5 years £000


5 years and over £000


(11,555) (190)


(10,824) (38,049)


(140) (60,758)


(12,401) (194)


(10,824) (38,049)


(108) (61,576)


(3,202) (136)


(10,824) (38,049)


(108) (52,319) At year ended 27 June 2015


 Secured bank loans


 Invoice discounting


Deferred consideration Trade creditors


 Interest rate swaps liabilities


Carrying amount £000


Total £000


1 year or less £000


(3,128) (58) - -


- (3,186)


1 to 2 years £000





2 to 5 years £000


5 years and over £000


(5,063) - - -


- (5,063)


(1,008) - - -


- (1,008)


(17,163) (474)


(3,397) (50)


(37,457) (359) (58,900) The carrying amount relating to interest rate swaps is the fair value.


  


(18,412) (488)


(3,397) (50)


(37,457) (377) (60,181)


(6,026) (293)


(3,397) (50)


(37,457) (270) (47,493)


(3,198) (137) - - -


(107) (3,442)


(7,785) (58) - - -


- (7,843)


(1,403) - - - -


- (1,403)


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