41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 222
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THE UNITE GROUP PLC | Annual Report and Financial Statements 2022
NOTES TO THE FINANCIAL STATEMENTS continued
Section 4: Funding continued
4.5 Financial risk factors continued
2022
Weighted
average
effective
interest Less than
rate 1 month
%
£m
Variable interest rate
instruments
5.0
1–3 3 months
months
– 1 year
£m
£m
1–5
years
£m
5+
years
£m
Total
£m
Carrying
amount
£m
1.0
1.9
8.7
258.2
–
269.9
228.0
Fixed interest rate
instruments
3.1
1.1
2.2
28.8
399.4
766.2
1,197.7
1,037.9
Lease liabilities
4.2
0.5
0.9
4.2
28.3
58.8
92.7
92.3
Trade and other payables
N/a
Total
–
118.2
–
–
–
118.2
118.2
2.6
123.2
41.7
685.9
825.0
1,678.5
1,476.4
1–3 3 months
months
– 1 year
£m
£m
1–5
years
£m
5+
years
£m
Total
£m
Carrying
amount
£m
2021
Weighted
average
effective
interest Less than
rate 1 month
%
£m
Variable interest rate
instruments
2.0%
0.2
Fixed interest rate
instruments
3.1%
Lease liabilities
4.2%
n/a
Trade and other payables
Total
0.4
1.9
130.6
–
133.1
121.3
1.1
2.2
28.5
415.5
786.4
1,233.7
1,040.7
–
3.2
9.8
53.9
94.2
161.1
96.8
–
130.6
–
–
–
130.6
130.6
1.3
136.4
40.2
600.0
880.6
1,658.5
1,389.4
The Company has £269.9 million of variable rate borrowings with a weighted average rate of 5.0% and £1,197.7 million
of fixed rate borrowings with a weighted average rate of 3.1%. The maturity of the Company’s borrowings is disclosed
in note 4.1.
The Group has access to financing facilities as described below, of which £378.0 million were unused at the reporting
date (2021: £335.0 million). The Group expects to meet its other obligations from operating cash flows.
2022
£m
2021
£m
–
–
10.0
10.0
10.0
10.0
– amount used
232.0
125.0
– amount unused
368.0
325.0
600.0
450.0
Unsecured bank overdraft facility, reviewed annually and payable at call:
– amount used
– amount unused
Unsecured committed bank loan facilities which may be extended by mutual agreement:
