DairyCrest

Notes to the financial statements

5 Finance costs and other finance income

Year ended

31 March 2014

£m

Year ended

31 March 2013

£m

Bank loans and overdrafts (at amortised cost)

(9.7)

(19.6)

Unwind of discount on provisions (Note 23)

(0.2)

(0.2)

Finance charges on finance leases

(0.2)

(0.3)

Pre-exceptional finance costs – continuing operations

(10.1)

(20.1)

Finance income on cash balances (financial assets not at fair value through profit and loss)

0.2

1.4

Pre-exceptional net finance costs – continuing operations

(9.9)

(18.7)

Exceptional cost of repayment of loan notes (Note 4)

(0.2)

(8.7)

Total net finance costs – continuing operations

(10.1)

(27.4)

Interest payable on bank loans and overdrafts is stated after capitalising £1.6 million (2013: £0.1 million) of interest on expenditure on capital projects at the Group’s average cost of borrowing of 5.0%.