41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 216
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THE UNITE GROUP PLC | Annual Report and Financial Statements 2022
NOTES TO THE FINANCIAL STATEMENTS continued
Section 4: Funding continued
4.1 Borrowings continued
The carrying value and fair value of the Group’s borrowings is analysed below:
2022
2021
Carrying
value
£m
Fair value
£m
Carrying
value
£m
Fair value
£m
Level 1 IFRS fair value hierarchy
875.0
759.3
898.8
936.7
Other loans and unamortised arrangement fees
372.8
333.8
263.2
263.2
1,247.8
1,093.1
1,162.0
1,199.9
Carrying
value
£m
Fair value
£m
Carrying
value
£m
Fair value
£m
275.0
344.5
425.0
439.0
Other loans and unamortised arrangement fees
374.6
333.8
117.2
117.2
Total borrowings
649.6
678.3
542.2
556.2
Group
Total borrowings
2022
Company
Level 1 IFRS fair value hierarchy
2021
The fair value of loans classified as Level 1 in the IFRS fair value hierarchy is determined using quoted prices in active
markets for identical liabilities.
The following table shows the changes in liabilities arising from financing activities:
2022
Group
Borrowings
At 1
January
2022
Financing
cash flows
1,162.0
107.0
Lease liabilities
96.8
Interest rate swaps
(2.5)
Total liabilities from financing activities
(4.8)
Fair value
adjustments
(4.3)
–
Other
changes
At 31
December
2022
1.2
1,265.9
0.3
92.3
–
(70.7)
–
(73.2)
1,256.3
102.2
(75.0)
1.5
1,285.0
542.2
107.0
Company
Borrowings
Interest rate swaps
Total liabilities from financing activities
–
649.6
–
(70.7)
–
(73.2)
539.7
107.0
(70.3)
–
576.4
At 1
January
2021
Financing
cash flows
Fair value
adjustments
Other
changes
At 31
December
2021
1,689.9
(563.8)
(4.3)
40.2
1,162.0
101.1
(13.2)
–
8.9
96.8
(2.5)
0.4
2021
Group
Borrowings
Lease liabilities
Interest rate swaps
Total liabilities from financing activities
23.6
(3.1)
(23.9)
0.9
(2.5)
1,814.6
(580.1)
(28.2)
50.0
1,256.3
1,066.6
(550.8)
(0.8)
27.2
542.2
23.6
(3.1)
(23.9)
0.9
(2.5)
1,090.2
(553.9)
(24.7)
28.1
539.7
Company
Borrowings
Interest rate swaps
Total liabilities from financing activities
