2021 ANNUAL REPORT

45 FINANCIAL REPORT 15. LOANS 2021 2020 £ £ Analysis of the maturity of loans is given below: Amounts falling due within one year Bank loans and council loans 811,205 1,005,247 Amounts falling due 1-2 years Bank loans and council loans 911,210 505,248 Amounts falling due 2-5 years Bank loans and council loans 2,733,629 1,515,740 Amounts falling due after more than 5 years Bank loans and council loans 3,713,943 4,063,698 8,169,987 7,089,933 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. - A loan repayable over 6 years in semi-annual instalments with an interest rate of 2.76% per annum. 16. HIRE PURCHASE AND FINANCE LEASES Minimum lease payments under hire purchase fall due as follows: 2021 2020 £ £ Within one year 13,329 31,631 Between one and five years - 13,329 13,329 44,960 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 £ £ Bank and Council loans 811,205 1,005,247 Trade creditors 535,798 926,345 Corporation tax 391,468 35,594 Other taxation and social security 804,210 533,644 Obligations under finance lease and hire purchase contracts 13,329 31,631 Accruals and deferred income 4,150,487 3,074,147 Unamortised grants 278,682 278,682 6,985,179 5,885,290 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 2021 2020 £ £ Bank and council loans 7,358,782 6,084,686 Net obligations under finance leases and hire purchase contracts - 13,329 Other creditors 123,000 148,000 Unamortised grants 8,830,569 9,108,899 16,312,351 15,354,914 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.