RWS AR 23 Final Single pages - Flipbook - Page 144
Notes to the Consolidated Financial Statements (continued)
Liquidity risk
Liquidity risk is the risk that the Group will encounter di昀케culty in meeting the obligations associated with its 昀椀nancial
liabilities that are settled by delivering cash or another 昀椀nancial asset. The Group’s approach to managing liquidity is
to ensure, as far as possible, that it will have su昀케cient cash resources to meet its liabilities as and when they fall due
and payable.
In addition to the Group’s cash and cash equivalents, which at 30 September 2023 amounted to £76.2m (2022: £101.2m),
the Group has an overdraft facility of £1.5m (2022: £1.5m) which is unsecured. The reference interest rate on this facility
is SONIA with the margin being 200 basis points. This overdraft was undrawn as at year end.
Any surplus funds are invested in Pound Sterling or US Dollar deposits, with maturities not exceeding three months.
Exposure to liquidity risk
The following are the remaining contractual maturities of 昀椀nancial liabilities at the reporting date. The amounts are
gross, undiscounted, and include contractual interest payments.
Contractual cash 昀氀ows at
30 September 2023
Total
£m
Less than 12
months
£m
1-2 years
£m
2-5 years
£m
More than
5 years
£m
Non-derivative 昀椀nancial liabilities
Revolving Credit Facility
52.6
70.7
4.2
4.2
62.3
-
Trade and other payables
Lease liabilities
97.7
33.5
97.7
35.1
97.7
10.4
7.0
11.5
6.2
183.8
203.5
112.3
11.2
73.8
6.2
Derivative 昀椀nancial liabilities
Foreign exchange derivatives
- Out昀氀ow
Contractual cash 昀氀ows at
30 September 2022
Non-derivative 昀椀nancial liabilities
Revolving credit facility
Trade and other payables
Lease liabilities
Derivative 昀椀nancial liabilities
Foreign exchange derivatives
- Out昀氀ow
144
Carrying
amount
£m
-
-
-
-
-
-
-
-
-
-
-
-
Carrying
amount
£m
Total
£m
Less than 12
months
£m
1-2 years
£m
2-5 years
£m
More than
5 years
£m
29.3
39.0
1.8
1.8
35.4
-
112.1
46.7
112.1
50.1
112.1
13.6
11.2
17.6
7.7
188.1
201.2
127.5
13.0
53.0
7.7
0.6
0.6
0.6
-
-
-
0.6
0.6
0.6
-
-
-
RWS Holdings plc — Annual Report 2023 NOTES TO THE CONSOLIDATED STATEMENTS
