Annual Report & Accounts 2004 - Harvey Nash

44
Harvey Nash Group plc
Annual Report & Accounts 2004
Notes to the Financial Statements continued
for the year ended 31 January 2004
27 Financial Instruments continued
Maturities of financial liabilities
Total borrowings are repayable as follows:
2004 2003
£’000 £’000
Within one year 3,216 1,258
Due within two and five years 6,333 11,753
9,549 13,011
Committed undrawn facilities
The maturities of the committed undrawn bank facilities available to the Group are as follows:
2004 2003
£’000 £’000
Within one year – 2,000
Between two and five years 600 2,580
600 4,580
Fair value
In the opinion of the Directors there is no material difference between the fair value of the Group’s financial instruments and their carrying value.
Currency risk
The currency exposure of the Group net monetary assets/(liabilities) is shown below. Such exposures comprise the monetary assets and
monetary liabilities of the Group that are not denominated in the operating currency of the operating company involved.
Net foreign currency monetary assets/(liabilities)
Functional Swiss Australian Hong Kong
currency of US Dollar Euro Franc Dollar Dollar Total
Group company £’000 £’000 £’000 £’000 £’000 £’000
Sterling
Cash (689) 715 (275) – – (249)
Trading and intercompany 100 (594) 532 47 148 233
Loans – intercompany 6,103 (939) – 806 814 6,784
Loans – Bank (6,333) – – – – (6,333)
(819) (818) 257 853 962 435
28 Related party transactions
As a result of the Snowdogs LLC acquisition referred to in note 26, certain senior employees are entitled to receive deferred consideration
payable in shares in Harvey Nash Group plc as a result of their prior year equity interest in Snowdogs. See note 26 for further details.