14. Property, plant and equipment Property, plant and equipment principally comprises the fair value of owner-occupied property. On 11 March 2021 the Group moved to premises at one of its own buildings. The fair value of these premises is based on the appraised value at 31 March 2021 which approximates to the fair value at 11 March 2021. Consequently there has been no transfer to
revaluation reserve for the year. 15. Accounts receivable
2021 £000
2020 £000
4,326 14,475
Tenant debtors (net of provisions for bad debts)
5,197 11,618
Lease incentives Other debtors
783
786
19,584 17,601 The estimated fair values of receivables are the discounted amount of the estimated future cash flows expected to be received and the approximate value of their carrying amounts. Amounts are considered impaired using the lifetime expected credit loss method. Movement in the balance considered to be impaired has been included in the Consolidated Statement of Comprehensive Income. As at 31 March 2021, tenant debtors of £1,874,000 (2020: £1,676,000) were considered impaired and provided for. 16. Cash and cash equivalents 2021 £000 2020 £000
23,353
Cash at bank and in hand Short-term deposits
23,564
5
3
23,358 23,567 Cash at bank and in hand earns interest at floating rates based on daily bank deposit rates. Short-termdeposits are made for varying periods of between one day and one month depending on the immediate cash requirements of the Group, and earn interest at the respective short-termdeposit rates. The carrying amounts of these assets approximate their fair value. 17. Accounts payable and accruals 2021 £000 2020 £000
4,496 7,596 1,780 596 4,337
Accruals
5,263 7,817 1,685 1,058 3,615
Deferred rental income
VAT liability Trade creditors Other creditors
18,805
19,438
18. Loans and borrowings
2021 £000
2020 £000
Maturity
Current Aviva facility
1,314
– –
1,258
(370)
Capitalised finance costs
(370)
944
888
Non-current Canada Life facility
80,000 84,894 (2,183)
24 July 2027 24 July 2032
80,000 86,207
Aviva facility
Capitalised finance costs
–
(1,959) 162,711 164,248 163,655 165,136
119
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