Page 69 - RFU Annual Report 2015/2016

Financial Statements
67

29. Financial instruments continued

Liquidity risk
The Group invests surplus cash into interest bearing assets for various terms. Generally no more than 80% of cash
is invested in fixed term interest bearing assets at any one time. Interest bearing assets are not invested for any term
greater than three months.

Borrowing facilities
The Group has the following undrawn committed facilities available at year 2016 2015
end in respect to which all conditions precedent had been met: £m £m

Expiring after five years 25.0 10.0

Financial instruments
The carrying value of the Group’s financial assets and liabilities are summarised by category below:

Restated Restated
Group Group Parent Parent
2016 2015 2016 2015
£m £m £m £m

Financial assets measured at fair value through profit or loss
Investment at fair value held by the charities 7.1 7.1 - -
Financial assets that are debt instruments measured at amortised cost
Trade debtors 9.4 20.0 3.3 9.9
Amounts owed by group undertakings - - 2.4 3.2
Bank accounts 27.2 71.2 15.8 62.0
Other debtors (including non-current) 4.5 2.2 3.8 5.0
Loans to club 7.7 8.0 - -

55.9 108.5 25.3 80.1

Financial liabilities measured at amortised cost
Trade creditors 5.6 9.6 2.2 5.4
Amount owed to group undertakings - - 32.4 136.1
Finance leases 0.7 1.4 0.7 1.4
Debentures 184.8 148.2 184.8 148.2
Other creditors (including non-current) 79.0 216.2 68.6 68.6

Financial liabilities measured at fair value through profit or loss
Bank loans 24.6 - 24.6 -

294.7 375.4 313.3 359.7

Gains and losses on the remeasurement in the values of the assets and liabilities held at fair value through the Profit
and Loss account at the Balance Sheet date are determined available market data, including appropriate assumptions
about credit losses, interest rates and discount rates.

Loans to clubs and debentures are within the scope of concessionary loans and are recognised at face value.

Annual Report 2015/16