108
Finsbury Food Group Annual Report and Accounts 2020
Notes to the Company’s Financial Statements/Continued
45. Interest-Bearing Loans and Borrowings
This note provides information about the contractual terms and repayment schedule of the Company’s interest-bearing loans and borrowings, which are measured at amortised cost. For more information about the Group’s exposure to interest rate risk, see Note 23. 2020
Currency Revolving credit Unamortised transaction costs Leases* Total debt including leases 2019 Revolving credit Unamortised transaction costs
Operating leases (under IAS 17) at 30 June 2019 on transition to IFRS 16
Total debt at 30 June 2019 on transition to IFRS 16
Leases* include all leases recognised as lease liabilities under IFRS 16 (see Note 11).
HSBC Bank Plc, HSBC Asset Finance (UK) Ltd, HSBC Equipment Finance (UK) Ltd and HSBC Corporate Trustee Company (UK) Limited have debentures incorporating fixed and floating charges over the undertaking and all property and assets including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.
46. Creditors: Amounts Falling Due After More Than One Year
2020 £000
Deferred consideration
Provisions closure of Grain D’Or site Fair value derivatives Deferred tax liability
1,357 392 210 30
1,989 Deferred consideration is the consideration payable for the Ultrapharm acquisition payable in quarterly instalments to 1 October 2022.
47. Called Up Share Capital Note 25 in the Group Financial Statements gives details of called up share capital.
48. Capital and Reserves The reconciliation of the movement in capital and reserves is shown as a primary statement in the Company’s Financial Statements: Company Statement of Changes in Equity on page 101 with definition details in Note 24 to the Consolidated Financial Statements.
49. Contingent Liabilities The Company has guaranteed the overdrafts of its subsidiaries; there was a net cash position at the year end of £10,173,000 (2019: £12,358,000).
50. Related Party Disclosures Note 29 in the Group’s Financial Statements gives details of related party transactions.
51. Financial Risk Management
The Company’s policies on the management of liquidity, credit and interest rate risks are managed at a Group level and are set out in Note 23 in the Group’s Financial Statements and also referred to in the Strategic Report.
2019 £000
1,824 - -
60 1,884 GBP 2.2% Quarterly Varies Currency Margin GBP 1.5%/LIBOR
Frequency of repayments
Varies
Year of maturity
2023
Facility £000
£55,000 GBP 2.2% Quarterly Varies Margin GBP 1.5%/LIBOR
Frequency of repayments
Varies
Year of maturity
2023
Facility £000
£55,000
Total £000
36,184 (175)
36,009 2,248
38,257
Total £000
47,144 (248)
46,896 3,803
50,699 1,252 1,252
Current £000
- - -
1,099 1,099
Current £000
- - -
Non-current £000
36,184 (175)
36,009 1,149
37,158
Non-current £000
47,144 (248)
46,896 2,551
49,447
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