Strategic Review


76 Finsbury Food Group Annual Report & Accounts 2018


Notes to the Consolidated Financial Statements


Corporate Governance


Financial Statements


13. Pension Schemes (continued) Consolidated Statement of Financial Position


2018 £000


Fair value of plan assets


Present value of the defined benefit obligation Deficit


Experience adjustments on plan assets as a percentage of plan assets


Experience adjustments on plan liabilities as a percentage of plan liabilities Total remeasurement (losses)/gains as a percentage of plan liabilities


14. Inventories


2018 £000


Raw materials and consumables Finished goods


Inventories Recognised as an Expense


2018 £000


Opening inventories Purchases


Increase/(decrease) in stock provisions Closing inventories


Expensed during the period 15. Trade and Other Receivables


2018 £000


Trade receivables due from third parties Other debtors


Prepayments and accrued income Current tax asset


39,967 1,807 2,282 519


44,575


2017 £000


45,163 2,610 2,245 -


50,018 Specific provisions are made against doubtful debts taking the value of trade receivables to an estimated value based on the most likely outcome.


Cash received under the invoice discounting facility, amounting to £Nil (2017: £11,646,000) is shown within current liabilities and is secured on the trade receivables above. All the risks and rewards of the trade debtors lie with the Group. 16. Cash and Cash Equivalents Including Bank Overdrafts


2018 £000


Cash at bank and on hand Bank overdraft


22,610


(13,247) 9,363


2017 £000


11,305 (8,281) 3,024


12,684


138,570 16


(13,456) 137,814


2017 £000


12,577


130,302 5


(12,684) 130,200


5,555 7,901


13,456


2017 £000


5,378 7,306


12,684 18,834


(29,370) (10,536)


(779)


(4.1%) -


0.0% (172) 0.6%


2017 £000


19,985


(30,483) (10,498)


712


3.6% -


0.0%


(4,031) 13.2%


2016 £000


19,287


(25,750) (6,463)


(1,451) (7.5%) 236


0.9%


(2,595) 10.0%


2015 £000


20,587


(24,424) (3,837)


656


3.2% -


0.0% (153) 0.6%


2014 £000


19,741


(23,371) (3,630)


927


4.7% -


0.0% (726) 3.1%


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