MRM - 2019 Universal Registration Document
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General information on the issuer and its share capital
Consolidated financial statements for the financial year ended 31 December 2019
4.13 Loans and borrowings
Accounting principles
Borrowings Financial liabilities comprise borrowings and other interest-bearing liabilities.
On initial recognition, they are measured at fair value, taking account of transaction costs directly attributable to the issuance of the financial liability. They are subsequently recognised at amortised cost using the effective interest rate method. The effective interest rate includes the nominal interest rate and actuarial amortisation of issue expenses and issue and redemption premiums.
Borrowings of less than one year are classified as “Current borrowings”.
Borrowing costs Revised IAS 23 – Borrowing costs removes the option of expensing borrowing costs and requires companies to capitalise borrowing costs directly attributable to the purchase, construction or production of a qualifying asset as a component of the cost of the asset. The Group borrows money specifically for the acquisition, construction or production of a specific qualifying asset. Financial expenses directly associated with this asset are accordingly easily determined and capitalised in the cost of the qualifying asset.
As of 31 December 2019, the Group no longer had any qualifying assets allowing the capitalisation of interest costs. The breakdown of current and non-current loans and borrowings is as follows:
12/31/2019
12/31/2018
(in thousands of euros)
Bank debts
74,701
72,056
Lease liability
100
-
1,006
906
Guarantee deposits received
NON CURRENT
75,808
72,962
Bank debts
2,446
2,044
Lease liability
35
-
Guarantee deposits received
616
809
Accrued interest
78
91
CURRENT
3,174
2,944
78,982
75,906
TOTAL LOANS AND BORROWINGS
The breakdown of loans and borrowings by maturity is as follows:
12/31/2019
1 year
1 to 5 years Over 5 years
(in thousands of euros)
Bank debts
77,147
2,446
74,701
- -
Lease liability
135
35
100 820
1,622
616
186
Guarantee deposits received
Accrued interest
78
78
-
-
TOTAL LOANS AND BORROWINGS
78,982
3,174
75,622
186
The debt maturing within a year comprises the contractual repayments to be made over the next twelve months.
M.R.M. 2019 UNIVERSAL REGISTRATION DOCUMENT
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