| Notes | 27 November 2016 £m | 29 November 2015 £m |
---|
Current Liabilities | | | |
Borrowings | 4.2 | 52.9 | 1.6 |
Obligations under finance leases | 4.3 | 29.8 | 26.5 |
| | 82.7 | 28.1 |
Non-Current Liabilities | | | |
Borrowings | 4.2 | 6.1 | 7.7 |
Obligations under finance leases | 4.3 | 127.0 | 137.0 |
| | 133.1 | 144.7 |
Total Borrowings and Finance Leases | | 215.8 | 172.8 |
Borrowings
| Less Than One Year £m | Between One Year and Two Years £m | Between Two Years and Five Years £m | Total £m |
---|
As at 29 November 2015 | | | | |
Secured loans | 1.6 | 1.5 | 6.2 | 9.3 |
Total Borrowings | 1.6 | 1.5 | 6.2 | 9.3 |
As at 27 November 2016 | | | | |
Unsecured loans | 51.3 | — | — | 51.3 |
Secured loans | 1.6 | 6.1 | — | 7.7 |
Total Borrowings | 52.9 | 6.1 | — | 59.0 |
The loans outstanding at period end can be analysed as follows:
Principal amount £m | Inception | Security Held | Current Interest Rate | Instalment Frequency | Final Payment Due | Carrying Amount as at 27 November 2016 £m | Carrying Amount as at 29 November 2015 £m |
---|
210.0 | July 2014 | None | LIBOR + 1.5% | Monthly | July 20192 | 51.3 | — |
2.5 | July 2014 | Property, plant | 9.12%1 | Monthly | July 2017 | 0.5 | 1.1 |
| | and equipment | | | | | |
8.2 | September 2015 | Freehold Property | LIBOR + 1.5% | Quarterly | September 2018 | 7.2 | 8.2 |
| | | | | | 59.0 | 9.3 |
Disclosed as: | | | | | | | |
Current | | | | | | 52.9 | 1.6 |
Non-current | | | | | | 6.1 | 7.7 |
| | | | | | 59.0 | 9.3 |
- Calculated as the effective interest rate, the calculation of which includes an optional balloon payment at the end of the term.
- Date of expiry of facility
In the previous year, the unsecured three-year £100 million revolving facility was extended by a further two years and the amount of the facility was increased to £210 million. As at 27 November 2016, £52.5 million of the facility had been utilised, net of transaction fees. The Group regularly reviews its financing arrangements. The facility contains typical restrictions concerning dividend payments and additional debt and leases.