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Annual Report & Accounts 2014 - NOTES TO THE COMPANY FINANCIAL STATEMENTS
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3. inVeStmentS continued 2014 2013 GVC Services B.V.* Netherlands Antilles 100% 100% Intera N.V. Netherlands Antilles 100% 100% GVC Sports B.V. Netherlands Antilles 100% 100% Gaming VC Corporation Limited Malta 100% 100% GVC Administration Services Limited England and Wales 100% 100% Sportingbet Limited England and Wales 100% 100% Interactive Sports (C.I.) Limited Alderney 100% 100% Sportingbet (Management Services) Limited England and Wales 100% 100% Sportingbet (IT Services) Limited England and Wales 100% 100% Sportingbet (Product Services) Limited England and Wales 100% 100% Sporting Odds Limited England and Wales 100% 100% Headlong Limited Malta 100% 100% * also has a branch registered in Israel 4. DebtoRS 2014 2013 €000's €000's Amounts owed by Group undertakings 43,022 23,787 Other debtors 3,344 1,310 Prepayments and accrued income 158 255 46,524 25,352 5. CReDitoRS: amoUntS FallinG DUe Within one yeaR 2014 2013 €000's €000's Amounts due to Group undertakings 127,189 71,973 Other creditors 5,038 3,993 132,227 75,966 6. CaSh at banK anD in hanD 2014 2013 €000's €000's Bank balances 137 2,085 7. CReDitoRS: amoUntS FallinG DUe aFteR moRe than one yeaR 2014 2013 €000's €000's Non-interest bearing loan 2,777 5,148 Betit option (see note 3) 1,745 3,993 4,522 75,966 As part of the Group's acquisition of Sportingbet PLC in the prior year, a credit facility was made available to the Company by William Hill PLC to fund working capital. At the 31 December 2014 the Company had drawn down €5,867,084 (4,590,832) (2013: €8,255,619 (6,861,956)) of this facility. The loan was revalued at the 31 December exchange rate of 1.28. FRS 26 'Financial Instruments: Recognition and Measurement', states that all loans and receivables should initially be measured at their fair value. The loan has therefore been discounted at a rate of 4% and will be unwound over the period of the loan. GVC HOLDINGS PLC ANNUAL REPORT 2014 73 Company FinanCial StatementS