Shaftesbury AR 2017 LR
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FINANCIAL STATEMENTS NOTES to the financial statements <strong>Shaftesbury</strong> Annual Report <strong>2017</strong><br />
14 Cash and cash equivalents<br />
Cash and cash equivalents at 30 September <strong>2017</strong>, comprising cash at bank, were £45.6 million (2016: £15.6 million) for the Group and £25.8 million (2016:<br />
£0.5 million) for the Company.<br />
Non-current other receivables include £3.7 million at 30 September <strong>2017</strong> (2016: £3.7 million) which relate to cash held on deposit as security for certain<br />
secured term loans, and where there are certain conditions restricting their use.<br />
15 Trade and other payables<br />
GROUP<br />
<strong>2017</strong><br />
£M<br />
2016<br />
£M<br />
COMPANY<br />
<strong>2017</strong><br />
£M<br />
AS RESTATED<br />
2016<br />
£M<br />
Rents and service charges invoiced in advance 22.8 21.3 - -<br />
Amounts due in respect of property acquisitions - 0.7 - -<br />
Trade payables and accruals in respect of capital expenditure 4.0 5.2 - -<br />
Amounts due to subsidiaries - - 100.6 13.5<br />
Other taxation and social security 5.2 6.1 2.0 3.4<br />
Other payables and accruals 9.6 12.0 4.0 5.8<br />
41.6 45.3 106.6 22.7<br />
Amounts due to subsidiaries at 30 September 2016 have been restated and presented on a gross basis (see note 13). This has no impact on the net assets of<br />
the Company for that year.<br />
16 Borrowings<br />
<strong>2017</strong> 2016<br />
NOMINAL<br />
VALUE<br />
£M<br />
UNAMORTISED<br />
ISSUE COSTS<br />
£M<br />
BOOK<br />
VALUE<br />
£M<br />
NOMINAL<br />
VALUE<br />
£M<br />
UNAMORTISED<br />
ISSUE COSTS<br />
£M<br />
BOOK<br />
VALUE<br />
£M<br />
Group – Current borrowings<br />
Debenture Stock - - - 92.2 - 92.2<br />
Group – Non-current borrowings<br />
Mortgage bonds 575.0 (5.8) 569.2 - - -<br />
Secured bank facilities - (0.8) (0.8) 290.7 (1.7) 289.0<br />
Secured term loans 384.8 (4.4) 380.4 384.8 (4.7) 380.1<br />
Total non-current borrowings 959.8 (11.0) 948.8 675.5 (6.4) 669.1<br />
Total Group borrowings 959.8 (11.0) 948.8 767.7 (6.4) 761.3<br />
Company – Current borrowings<br />
Debenture Stock - - - 92.2 - 92.2<br />
Company – Non-current borrowings<br />
Secured bank facilities - (0.8) (0.8) 290.7 (1.7) 289.0<br />
Total non-current borrowings - (0.8) (0.8) 290.7 (1.7) 289.0<br />
Total Company borrowings - (0.8) (0.8) 382.9 (1.7) 381.2<br />
At 30 September <strong>2017</strong>, there were no drawings against the Company’s secured bank facilities (2016: £290.7 million). The Company is still able to benefit from<br />
these committed revolving credit facilities, and as such, unamortised issue costs of £0.8 million continue to be carried in the Balance Sheet.<br />
127
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