Minerva Equity Limited - 31 March 2019 Final 19.08.2019 - Flipbook - Page 52
Minerva Equity Limited (formerly DMWSL 881 Limited)
Notes to the financial statements
for the period ended 31 March 2019 (continued)
19
Loans and other borrowings (continued)
For the Group, the current and long term borrowings can be analysed as follows:
At 31 March 2019
Amounts owed on bank loans and loan notes
Debt issue costs
Obligations under finance leases
Creditors:
amounts
falling due
within one
year
£m
Creditors:
amounts
falling due
after more
than one
year
£m
Total
£m
(30.0)
(505.2)
(535.2)
1.8
9.3
11.1
(6.0)
(14.3)
(20.3)
(34.2)
(510.2)
(544.4)
Management of financial risk
Financial risks faced by the Group include funding, interest rate and contractual risks. The Group
reviews these risks on an ongoing basis. Interest rate hedges have been entered into as discussed
on page 48.
Borrowing covenants
The Group monitors compliance against all financial obligations and against the covenant restrictions
in place, all of these have been complied with during the period. The only covenant is a gearing
covenant.
Security
The borrowings are secured by a floating charge over the assets of the Group.
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