20495_Debenhams_AR_151104

NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
For the financial year year ended ended 29 29 August August 2015 2015
20 Bank overdraft and borrowings continued
Finance lease obligations
Finance lease obligations relate mainly to software, vehicles, fixtures and equipment leased under hire purchase contracts.
The minimum lease payments under finance leases fall due as follows:
The present value of finance lease obligations may be analysed as follows:
Maturity of borrowings
The maturity of the Group’s undiscounted borrowings is as follows:
Interest rates
The effective interest rates at the balance sheet dates were as follows:
29 August
2015
£m
30 August
2014
£m
Not later than one year 2.9 3.5
Later than one year but not later than five years 0.3 3.2
3.2 6.7
Interest element of future instalments – (0.2)
Present value of finance lease obligations 3.2 6.5
29 August
2015
£m
30 August
2014
£m
Not later than one year 2.9 3.3
Later than one year but not later than five years 0.3 3.2
3.2 6.5
29 August
2015
£m
30 August
2014
£m
Amounts falling due:
In one year or less or on demand 155.4 202.3
In more than one year but not more than two years 0.3 2.9
In more than two years but not more than five years – 0.3
In more than five years 196.8 220.6
352.5 426.1
29 August
2015
%
30 August
2014
%
Bank overdraft 1.88 N/A
Revolving credit facility 2.51 2.50
Senior notes 5.25 5.25
Lease obligations 3.35 3.52
118
Debenhams plc Annual Report & Accounts & Accounts 2015 2015