 |
 |
 |
|
2009 |
2008 |
|
|
|
£'000 |
£'000 |
|
Current |
|
|
|
Bank loans |
12,557 |
15,526 |
|
Bank overdrafts |
63 |
- |
|
Total borrowings |
12,620 |
15,526 |
|
The maturity profile of the Company's borrowings at the year end was as follows: |
||
|
|
||
|
In 1 year or less or on demand |
12,620 |
15,526 |
|
Between 1 and 2 years |
- |
- |
|
Between 2 and 5 years |
- |
- |
|
|
12,620 |
15,526 |
|
The carrying amounts of the Company's borrowings are denominated in the following currencies: |
||
|
2009 |
2008 |
|
|
|
£'000 |
£'000 |
|
Sterling |
3,800 |
- |
|
US dollars |
8,820 |
15,526 |
|
|
12,620 |
15,526 |
Subsequent to the 2009 year end, the Group has agreements with its two principal bankers for new facilities of £5m and $28.2m, the majority of which are committed to 30 June 2011. These facilities are priced on average at the appropriate currency LIBOR plus a margin of 3.5% and include financial covenants which are measured on a quarterly basis.