At the beginning of the period the Group had outstanding bank loans of £1.0 million. All payments during the year with respect to these agreements were met as they fell due, and these facilities were repaid in full in the year to 31 March 2015. In March 2015, a further bank loan of £0.7 million was drawn down. The Group manages its cash balances centrally at head office and prepares rolling cash flow forecasts to ensure funds are available to meet its secured and unsecured commitments as and when they fall due. Liquidity risk Group – The following are the contractual maturities of financial liabilities, including estimated interest payments and excluding the effects of netting agreements: 2015 Carrying amount cash 1 year or 1 to 2 2 to 5 5 years flows less years years and over £000 £000 £000 £000 £000 £000 Non-derivative financial instruments Secured bank loans 735 799 160 160 479 - Finance leases 5,138 12,322 395 350 852 10,725 Trade and other payables 10,214 10,214 10,214 - - - 16,087 23,335 10,769 510 1,331 10,725 27. Financial instruments (continued) 2014 Carrying amount cash 1 year or 1 to 2 2 to 5 5 years flows less years years and over £000 £000 £000 £000 £000 £000 Non-derivative financial instruments Secured bank loans 1,019 1,045 1,010 35 - - Finance leases 5,151 12,567 366 366 850 10,985 Trade and other payables 10,981 10,981 10,981 - - - 17,151 24,593 12,357 401 850 10,985 The contractual cash flows for finance leases in the years ended 31 March 2015 and 31 March 2014 are significantly higher than the liability at the year end, as the finance lease for the Gosport pontoon with Gosport Borough Council is a 50 year finance lease with quarterly payments of £65,000 until June 2061. Liquidity risk Company – The following are the contractual maturities of financial liabilities, including estimated interest payments and excluding the effects of netting agreements: 2015 Carrying 1 year or 1 to 2 2 to 5 5 years amount cash less years years and over
At the beginning of the period the Group had outstanding bank loans of £1.0 million. All payments during the year with respect to these agreements were met as they fell due, and these facilities were repaid in full in the year to 31 March 2015. In March 2015, a further bank loan of £0.7 million was drawn down. The Group manages its cash balances centrally at head office and prepares rolling cash flow forecasts to ensure funds are available to meet its secured and unsecured commitments as and when they fall due. Liquidity risk – Group The following are the contractual maturities of financial liabilities, including estimated interest payments and excluding the effects of netting agreements: 2015 Carrying amount cash flows 1 year or less 1 to 2 years 2 to 5 years 5 years and over £000 £000 £000 £000 £000 £000 Non-derivative financial instruments Secured bank loans 735 799 160 160 479 - Finance leases 5,138 12,322 395 350 852 10,725 Trade and other payables 10,214 10,214 10,214 - - - 16,087 23,335 10,769 510 1,331 10,725 27. Financial instruments (continued) 2014 Carrying amount cash flows 1 year or less 1 to 2 years 2 to 5 years 5 years and over £000 £000 £000 £000 £000 £000 Non-derivative financial instruments Secured bank loans 1,019 1,045 1,010 35 - - Finance leases 5,151 12,567 366 366 850 10,985 Trade and other payables 10,981 10,981 10,981 - - - 17,151 24,593 12,357 401 850 10,985 The contractual cash flows for finance leases in the years ended 31 March 2015 and 31 March 2014 are significantly higher than the liability at the year end, as the finance lease for the Gosport pontoon with Gosport Borough Council is a 50 year finance lease with quarterly payments of £65,000 until June 2061. Liquidity risk – Company The following are the contractual maturities of financial liabilities, including estimated interest payments and excluding the effects of netting agreements: 2015 Carrying amount cash 1 year or less 1 to 2 years 2 to 5 years 5 years and over