NewRiver Retail Limited Final Results -18-
15 Maggio 2014 - 8:01AM
UK Regulatory
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The Group's share of any contingent liabilities to the Barley JV
is GBPnil (2013: Nil)
14 Property, plant and equipment
Fixtures
and
equipment Total
GBP'000 GBP'000
--------------------------------- ---------- --------
Cost
At 1 April 2012 415 415
Additions 53 53
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At 31 March 2013/1April 2013 468 468
Additions 40 40
At 31 March 2014 508 508
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Depreciation
At 1 April 2012 (11) (11)
Depreciation charge for the year (53) (53)
--------------------------------- ---------- --------
At 31 March 2013/1April 2013 (64) (64)
Depreciation charge for the year (60) (60)
--------------------------------- ---------- --------
At 31 March 2014 (124) (124)
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Book value at 31 March 2014 384 384
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Book value at 31 March 2013 404 404
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15 Investment in subsidiary undertakings
Below is a list of the Group's principal subsidiaries
Proportion
of
Country ownership
of interest
Name incorporation Activity 2014 Class of share
==================================== ============== ======================= ========== ===============
NewRiver Retail (Boscombe No. 1) Ordinary shares
Limited UK Real estate investments 100%
NewRiver Retail (Carmarthen) Limited UK Real estate investments 100% Ordinary shares
NewRiver Retail CUL No. 1 Limited UK Finance Company 100% Ordinary shares
NewRiver Retail (Holdings) Limited Guernsey Real estate investments 100% Ordinary shares
NewRiver Retail (Holdings No.2) 100% Ordinary shares
Limited Guernsey Real estate investments
NewRiver Retail (Holdings No.3) 100% Ordinary shares
Limited Guernsey Real estate investments
NewRiver Retail (Holdings No.4) 100% Ordinary shares
Limited Guernsey Real estate investments
NewRiver Retail (Market Deeping 100% Ordinary shares
No. 1) Limited Guernsey Real estate investments
NewRiver Retail (Newcastle No. 100% Ordinary shares
1) Limited Guernsey Real estate investments
NewRiver Retail (Paisley) Limited UK Real estate investments 100% Ordinary shares
NewRiver Retail (Portfolio No. 100% Ordinary shares
1) Limited Guernsey Real estate investments
NewRiver Retail (Portfolio No. 100% Ordinary shares
2) Limited Guernsey Real estate investments
NewRiver Retail (Portfolio No. 100% Ordinary shares
3) Limited UK Real estate investments
NewRiver Retail (Skegness) Limited UK Real estate investments 100% Ordinary shares
NewRiver Retail (UK) Limited UK Company operation 100% Ordinary shares
and asset management
NewRiver Retail (Wisbech) Limited UK Real estate investments 100% Ordinary shares
NewRiver Retail (Witham) Limited UK Real estate investments 100% Ordinary shares
NewRiver Retail (Wrexham No. 1) 100% Ordinary shares
Limited Guernsey Real estate investments
NewRiver Leisure Limited UK Real estate investments 100% Ordinary shares
NewRiver (Portfolio No. 5) Limited UK Real estate investments 100% Ordinary shares
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The Group's investment properties are held by its subsidiary
undertakings.
In addition the EBT is consolidated as disclosed in Note 22.
16 Trade and other receivables
2014 2013
GBP'000 GBP'000
=============================== ======== ========
Trade receivables 2,495 1,192
Prepayments and accrued income 1,100 789
Other receivables - -
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3,595 1,981
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All amounts fall due for payment in less than one year.
A provision of GBP0.4 million (2013: GBP0.4 million) was made
against trade receivables as at 31 March 2014.
17 Cash and cash equivalents
2014 2013
GBP'000 GBP'000
============= ======== ========
Cash at bank 89,555 7,545
============= ======== ========
89,555 7,545
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18 Trade and other payables
2014 2013
GBP'000 GBP'000
===================================== ======== ========
Trade payables 1,468 1,609
Other payables 617 888
Accruals 4,993 5,394
Rent received in advance 3,124 3,103
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10,202 10,994
Taxation - current 219 424
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Current trade and other payables 10,421 11,418
Taxation - non-current - 220
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Non-current trade and other payables - 220
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19 Borrowings
2014 2013
GBP'000 GBP'000
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Secured bank loans 108,256 112,697
Convertible Unsecured Loan Stock 23,306 24,693
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131,562 137,390
Maturity of borrowings:
Less than one year - -
Between one and two years 23,306 -
Between two and five years 40,373 137,390
Over five years 67,883 -
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131,562 137,390
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Secured bank loans
Bank loans are secured by way of legal charges on properties
held by the Group and a hedging policy is adopted which is aligned
with the property strategy on each of its assets.
Weighted average debt maturity including extension options is
4.5 years (2013: 3.1 years).
Effective interest rate during the year to 31 March 2014 was
3.9% (2013: 3.9%)
Facility and arrangement fees
2014
============== ============== =======================================
Credit Facility
approved drawn Fees Amortised Balance
Current year Maturity date extension(1) GBP'000 GBP'000 GBP'000 GBP'000
====================== ============== ============== ======== ======== ========= ========
HSBC* November 2015 May 2019 36,475 (346) 231 36,360
Clydesdale** August 2016 40,645 (539) 267 40,373
February
Santander*** 2021 31,891 (368) - 31,523
109,011 (1,253) 498 108,256
Convertible Unsecured
Loan Stock December 2015 23,500 (574) 380 23,306
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132,511 (1,827) 878 131,562
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Grafico Azioni Newriver Reit (LSE:NRR)
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