Page 85 - Housing Solutions Annual Report
P. 85
32. Financial assets and liabilities
The Board policy on financial instruments is explained in the Board Report as are references to
financial risks.
Categories of financial assets and financial liabilities
2020 2019
£’000 £’000
Loan Commitments measured at cost less impairment 301,205 289,071
Total 301,205 289,071
2020 2019
£’000 £’000
The difference between the financial liability’s carrying amount and the amount
the entity would be contractually obliged to pay at maturity
Financial assets 1,842 1,701
2020 2019
£’000 £’000
Other than short-term debtors, financial assets held are equity
instruments in other entities and cash at bank
Financial assets on which no interest is earned 2,519 2,427
2,519 2,427
Financial liabilities excluding trade creditors – interest rate risk profile
The Group’s financial liabilities are sterling denominated. The interest rate profile
of the Group’s financial liabilities at 31 March was:
2020 2019
£’000 £’000
Variable rate loans 66,247 53,972
Fixed rate loans 236,800 236,800
303,047 290,772
The fixed rate financial liabilities have a weighted average interest rate of 5.15%
(2019: 4.71%) and the weighted average period for which it is fixed is 17.6 years
(2019: 18.8 years)
The debt maturity profile is shown in note 22.
Borrowing facilities
The Group has undrawn committed borrowing facilities. The facilities available
at 31 March in respect of which all conditions precedent have been met were as
follows:
2020 2019
£’000 £’000
Expiring in more than two years 37,000 56,667
37,000 56,667
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