annington annual rep 2019-web - Page 86



Financial statements | Notes to the Company financial statements
G. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT
(CONTINUED)
I. RELATED PARTY DISCLOSURES
Subsidiaries
Fair values
During the year, the Company entered into transactions, in the
normal course of business, with other related parties as follows:
The fair values of the Company’s borrowings are determined
by a Level 2 valuation technique. Refer Note 2 to the
Consolidated Financial Statements where the fair value
measurement hierarchy levels have been defined.
2019
Balance
sheet
value
£’000
Par value
of debt
£’000

Finance income
Fair value
£’000
Level 2
Non-derivative financial assets
Annington Homes
Limited
Finance costs
2019
£’000
2018
£’000
2019
£’000
2018
£’000
-
9,234
-
-
-
9,234
-
-

Investment in subsidiaries
2018
Notes to the Company financial statements
-
3,362,800
Par value
of debt
£’000
Balance
sheet
value
£’000
3,362,800
Fair value
£’000
Level 2
Non-derivative financial assets
Investment in subsidiaries
-
2,530,400
Amounts owed
by related
parties
2019
£’000
2018
£’000
2019
£’000
2018
£’000
Annington Homes
Limited
-
36
(27)
-
Annington Management
Limited
-
-
-
(63)
-
36
(27)
(63)
2,530,400


H. NOTE TO THE CASH FLOW STATEMENT

Profit after tax
Information regarding key management personnel
2019
£’000
2018
£’000
-
1,503
Details of payments to key management personnel are
disclosed in Note 6.
J. COMMITMENTS AND CONTINGENCIES
Adjustment for:
Tax
-
(1,583)
Finance income
-
(9,234)
Finance costs
-
9,314
-
-
Net cash from operating activities
Amounts owed
to related
parties
86 | Annington Limited Annual Report & Accounts 2019
The Company had no capital or other commitments at
31 March 2019 (2018: £nil).
Annington Limited Annual Report & Accounts 2019 | 87

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