2020 ANNUAL REPORT

41 FINANCIAL REPORT 15. LOANS 2020 2019 £ £ Analysis of the maturity of loans is given below: Amounts falling due within one year Bank & Council loans 1,005,247 496,902 Amounts falling due 1-2 years Bank & Council loans 505,248 1,496,903 Amounts falling due 2-5 years Council loans 1,515,740 1,490,707 Amounts falling due after more than 5 years Council loans 4,063,698 4,464,638 7,089,933 7,949,150 Secured loans The bank and council loans are secured by way of a fixed and floating charge over all assets. Terms of repayment and interest rates of loans falling due after more than 5 years are as follows: - A loan repayable over 20 years in semi-annual instalments with an interest rate of 4.61% per annum. - A loan repayable over 15 years in semi-annual instalments with an interest rate of 3% per annum. 16. HIRE PURCHASE AND FINANCE LEASES Minimum lease payments under hire purchase fall due as follows: 2020 2019 £ £ Within one year 31,631 15,203 Between one and five years 13,329 20,299 44,960 35,502 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2020 2019 £ £ Bank and Council loans 1,005,247 496,902 Trade creditors 926,345 511,459 Corporation tax 35,594 - Other taxation and social security 533,644 722,688 Obligations under finance lease and hire purchase contracts 31,631 15,203 Accruals and deferred income 3,074,147 1,605,428 Unamortised grants 278,682 270,882 5,885,290 3,622,562 Obligations under finance lease and hire purchase contracts are secured upon the assets to which they relate. Details of the security provided on bank and council loans is detailed in Note 15. 14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2020 2019 £ £ Council loans 6,084,686 7,452,248 Obligations under finance lease and hire purchase contracts 13,329 20,299 Other creditors 148,000 173,000 Unamortised grants 9,108,899 8,997,699 15,354,914 16,643,246 Obligations under finance lease and hire purchase contracts are secured upon the assets to which they relate. Details of the security provided on bank and council loans is detailed in Note 15.