59
Notes to the financial statements (continued) Liabilities from financing activities
Other
Borrowings £’000
Leases £’000
Sub-total £’000
Cash £’000
Total £’000
(51,000)
(14,591)
(65,591)
16,930
(48,661)
-
2,124 (2,046) -
2,124 (2,046) -
-
2,124 (2,046) -
(51,000)
(14,513)
(65,513)
16,930
(48,583)
6,500
2,394
8,894
(9,671)
(777)
-
(945) -
(945) -
-
(945) -
(44,500)
(13,064)
(57,564)
7,259
(50,305)
12,000
2,211
14,211
3,343
17,554
-
(818) -
(818) -
-
(818) -
(32,500)
(11,671)
(44,171)
10,602
(33,569)
Net debt as at 1 January 2018 Cash flows Acquisitions - finance leases Foreign exchange adjustments Net debt as at 31 December 2018 Cash flows Acquisitions - finance leases Foreign exchange adjustments Net debt as at 31 December 2019 Cash flows Acquisitions - finance leases Foreign exchange adjustments Net debt as at 31 December 2020
Movements in borrowings are the aggregate movement of draw downs and repayments as disclosed in the cash flow statement.
16. Financial risk management This note explains the group’s exposure to financial risks and how these risks could affect the group’s future financial performance. Current year profit and loss information has been included where relevant to add further context.
Risk
Exposure arising from
Measurement
Management
Market risk - foreign exchange
Future commercial transactions recognised financial assets and liabilities not denominated in GBP
Cash flow forecasting sensitivity analysis
Accounts receivable and payable matching Spot and forward FX transactions to limit exposure
Market risk - interest rate
Long-term borrowings at variable rates
Sensitivity analysis Cash flow forecasting
Monitored but limited exposure as currently no long term borrowings at variable rates
Credit risk
Cash and cash equivalents, trade receivables and contract assets
Debt level reporting
Credit limits monitoring
Liquidity risk
Borrowings and other liabilities
Rolling cash flow forecasts
Availability of committed credit lines and borrowing facilities
