<< < > >>
Search:
| Full PDF report | Print this page |
Annual Report & Accounts 2014 - NOTES
slide
<< < > >>
20.1 market Risk market risk is the risk that changes in market prices, such as foreign exchange rates and interest rates which will affect the group's income or value of its holdings of financial instruments. exposure to market risk arises in the normal course of the group's business. 20.2 foreign exchange Risk Foreign exchange risk arises from transactions, recognised assets and liabilities and net investments in foreign operations. the group does not use foreign exchange contracts to hedge its currency risk. the group dividend is declared in the euro. two weeks before the dividend is due to be paid, the company sells euro and buys British pounds for an amount equal to the dividend. the group has investments in foreign operations which are all denominated in euros minimising the group's exposure to currency translation risk. 20.2.1 analysis of the Balance sheet by currency At 31 December 2014 euro GBp other total €000's €000's €000's €000's non-current assets 148,454 10,539 215 159,208 Receivables and prepayments 10,578 1,926 15,101 27,605 tax reclaimable 1,593 2,332 - 3,925 other taxes reclaimable 5 134 - 139 cash and cash equivalents 11,320 4,533 1,976 17,829 total current assets 23,496 8,925 17,077 49,498 trade and other payables (7,322) (18,183) (5,553) (31,058) Balances with customers (6,366) (4,298) (2,372) (13,036) taxation payable (4,962) (53) 1 (5,014) other taxation liabilities (241) (941) (156) (1,338) total current liabilities (18,891) (23,475) (8,080) (50,446) net current assets/(liabilities) 4,605 (14,550) 8,997 (948) non-current liabilities - Betit option - (1,745) - (1,745) - interest bearing loan and borrowings - (327) - (327) - non-interest bearing loan and borrowings - (2,777) - (2,777) - Deferred consideration (3,953) - - (3,953) total assets less total liabilities 149,106 (8,860) 9,212 149,458 At 31 December 2013 euro GBp other total €000's €000's €000's €000's non-current assets 153,148 1,620 - 154,768 Receivables and prepayments 14,875 5,144 3,560 23,579 tax reclaimable 1,877 - - 1,877 other taxes reclaimable - 281 25 306 cash and cash equivalents 6,587 8,428 3,793 18,808 total current assets 23,339 13,853 7,378 44,570 trade and other payables (13,930) (9,447) (712) (24,089) Balances with customers (5,767) (1,710) (5,821) (13,298) taxation payable (2,500) (186) (36) (2,722) other taxation liabilities (772) (3,285) (125) (4,182) total current liabilities (22,969) (14,628) (6,694) (44,291) net current assets/(liabilities) 370 (775) 684 279 non-current liabilities - interest bearing loan and borrowings - (1,221) - (1,221) - non-interest bearing loan and borrowings - (5,148) - (5,148) - Deferred consideration (7,582) - - (7,582) total assets less total liabilities 145,936 (5,524) 684 141,096 GVC HOLDINGS PLC ANNUAL REPORT 2014 55 notes to the consolidated financial statements