Financial Statements Notes to the consolidated financial statements continued for the year ended 31 March 2021
25. Riskmanagement continued Interest rate risk The following table sets out the carrying amount, by maturity, of the Group’s financial assets/(liabilities).
Less than 1 year £000
1 to 5 years £000
More than 5 years £000
Total £000
31 March 2021
Floating Cash and cash equivalents Fixed Secured loan facilities Obligations under leases
23,358
–
–
23,358
(1,314) (107) (5,867) (159,027) (166,208) (1,814) 21,937 (6,246) (160,355) (144,664) (379) (1,328)
Less than 1 year £000
1 to 5 years £000
More than 5 years £000
Total £000
31 March 2020
Floating Cash and cash equivalents Fixed Secured loan facilities Obligations under leases
23,567
–
–
23,567
(1,258) (108) (5,616) (160,591) (167,465) (1,817) 22,201 (6,004) (161,912) (145,715) (388) (1,321)
Concentration risk As discussed above, all of the Group’s investments are in the UK and therefore it is exposed to macroeconomic changes in the UK economy. Furthermore, the Group has around 350 occupiers so does not place reliance on a limited number of occupiers for its rental income, with the single largest occupier accounting for 5.0% of the Group’s annual contracted
rental income. Currency risk The Group has no exposure to foreign currency risk. 26. Related party transactions Executive Directors are set out in the Remuneration Report. Picton Property Income Limited has no controlling parties. 27. Events after the balance sheet date
The total fees earned during the year by the Non-Executive Directors of the Company amounted to £250,000 (2020: £250,000). As at 31 March 2021 the Group owed £nil to the Non-Executive Directors (2020: £nil). The emoluments of the
A dividend of £4,364,000 (0.8 pence per share) was approved by the Board on 29 April 2021 and was paid on 28 May 2021. The revolving credit facility held with National Westminster Bank Plc has been extended by a further 12 months to May 2024.
126
Powered by FlippingBook