RWS Annual Report 2022 web - Flipbook - Page 140
Notes to the Consolidated Financial Statements (continued)
Liquidity risk
Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial
liabilities that are settled by delivering cash or another financial asset. The Group’s approach to managing liquidity is to
ensure, as far as possible, that it will have sufficient cash resources to meet its liabilities as and when they fall due and
payable.
In addition to the Group’s cash balances which at 30 September 2022 amounted to £101.2m (2021: £92.5m), the
Group has an overdraft facility of £1.5m (2021: £1.5m) which is unsecured. The reference interest rate on this facility
transitioned from GBP LIBOR to SONIA during the period with the margin remaining unchanged at 200 basis points.
This overdraft was undrawn as at year end.
Any surplus funds are invested in British pound or US dollar deposits, with maturities not exceeding three months.
Exposure to liquidity risk
The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are
gross, undiscounted, and include contractual interest payments.
Contractual cash flows at
30 September 2022
Non-derivative financial liabilities
Revolving Credit Facility
Trade and other payables
Lease liabilities
Derivative financial liabilities
Foreign exchange derivatives
- Outflow
Contractual cash flows at
30 September 2021
Non-derivative financial liabilities
Revolving credit facility
Trade and other payables
Lease liabilities
Derivative financial liabilities
Foreign exchange derivatives
- Outflow
140
RWS — Annual Report 2022
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
50.2
112.1
13.6
11.2
17.6
7.7
188.1
201.3
127.5
13.0
53.0
7.7
0.6
0.6
0.6
-
-
-
0.6
0.6
0.6
-
-
-
Carrying
amount
£m
Total
£m
Less than 12
months
£m
1-2 years
£m
2-5 years
£m
More than
5 years
£m
47.2
51.4
0.9
0.9
49.6
-
104.7
51.5
104.7
58.2
104.5
11.0
0.2
11.0
22.1
14.1
203.4
214.3
116.4
12.1
71.7
14.1
0.7
0.7
0.7
-
-
-
0.7
0.7
0.7
-
-
-
NOTES TO THE CONSOLIDATED STATEMENTS
