Notes Forming Part of the Consolidated Financial Statements

For the year ended 31 December 2019

47. Borrowings

At 31 December 2018 borrowings comprised exclusively of finance leases as set out below.

Finance Leases

Minimum lease payments

Present value of minimum lease payments


2019

2018

2019

2018


€m

€m

€m

€m

Amounts payable under finance leases:





Within one year

-

0.2

-

0.2

In the second to fifth years inclusive

-

0.1

-

0.1


-

0.3

-

0.3

Less future finance charges

-

-

-

-

Present value of lease obligations

-

0.3

-

0.3

Less: amount due for settlement within 12 months

-

(0.2)

-

(0.2)

Amount due for settlement after 12 months

-

0.1

-

0.1

Amounts outstanding at 31 December 2018 were transferred to lease liabilities on the application of IFRS 16 Leases. The average effective borrowing during 2018 was 5.5%.