Annual Report and Accounts 2012 - Speedy Hire plc

88 Financial statements
Notes to the Company financial statements
continued
32 Trade and other receivables
Amounts owed by Group undertakings 359.3 409.5
Other receivables 1.9 2.5
361.2 412.0
33 Trade and other payables
Amounts owed to Group undertakings 133.6 149.0
Accruals 0.9 1.1
134.5 150.1
34 Financial instruments
The Company financial instruments are stated in accordance with note 18.
The fair values of financial assets and liabilities, together with the carrying amounts shown in the balance sheet, are as follows:
Speedy Hire Plc Annual Report and Accounts 2012
Carrying
amount
£m
2012
£m
2012
£m
31 March 2012 31 March 2011
Fair value
£m
Carrying
amount
£m
2011
£m
2011
£m
Fair value
£m
Trade and other receivables 361.2 361.2 412.0 412.0
Overdraft (1.2) (1.2) (6.6) (6.6)
Secured bank borrowings (79.3) (79.3) (112.7) (112.7)
Interest rate swaps and caps, used for hedging (0.7) (0.7) (0.6) (0.6)
Trade and other payables (133.6) (133.6) (149.0) (149.0)
146.4 146.4 143.1 143.1
Unrecognised gain/(loss) – –
35 Borrowings
Current borrowings
Bank overdraft 1.2 6.6
1.2 6.6
Non-current borrowings
Maturing between one and two years
– Revolving credit facility – 112.7
Maturing between two and five years
– Asset-based revolving credit facility 79.3 –
Total non-current borrowings 79.3 112.7
Net debt 80.5 119.3
The Company borrowings are stated in accordance with note 19.
Both the overdraft and asset-based revolving credit facility are secured by a fixed and floating charge over all the assets of the Group and
are rated pari passu.
2012
£m
2011
£m