27. Financial Instruments
The Company has the following financial instruments:
| 2016 €’000 | 2015 €’000 | |
Financial assets that are debt instruments measured at amortised cost: | ||
Trade debtors | 12,487 | 11,758 |
Other debtors | 640 | 870 |
Investments (included in current assets) | - | 64,192 |
13,127 | 76,820 | |
Cash at bank and in hand | 37,986 | 5,882 |
Financial liabilities measured at fair value through profit or loss: | ||
Derivative financial instruments | 148 | 385 |
Financial liabilities measured at amortised cost: | ||
Bank loans | 34,987 | 34,934 |
Trade creditors | 650 | 2,364 |
Other creditors | 6,587 | 5,898 |
42,224 | 43,196 |
Derivative financial instruments - Interest rate swaps The Company enters into interest rate swap contracts to mitigate the interest rate exposure on the Company’s borrowings. At 31 December 2016, the contracts all mature within 3 months (2015: 15 months) of the year end. The interest rate swap contracts are measured at fair value, which is determined using valuation techniques that utilise observable inputs. The fair value takes into account the fixed, floating and market rates prevailing at the year end. As interest rate swaps are marked to market at the year end, their carrying value is equal to their fair value. |
