Closing liquidity, thirteen weeks
Group, sterling equivalent · the dashed line is the covenant floor
The same thirteen figures, as text
| Week | Closing | Against the floor |
|---|---|---|
| w/c 3 Augclosed | £6,832,000 | £4,832,000 |
| w/c 10 Augclosed · Q3 VAT, £1.42m | £5,394,000 | £3,394,000 |
| w/c 17 Augclosed | £5,876,000 | £3,876,000 |
| w/c 24 Augforecast · Run R-2634 goes Thursday | £6,101,780 | £4,101,780 |
| w/c 31 Augforecast · August payroll, £882k | £4,975,780 | £2,975,780 |
| w/c 7 Sepforecast | £5,679,780 | £3,679,780 |
| w/c 14 Sepforecast | £5,422,780 | £3,422,780 |
| w/c 21 Sepforecast | £5,314,780 | £3,314,780 |
| w/c 28 Sepforecast · September payroll | £4,132,780 | £2,132,780 |
| w/c 5 Octforecast · EIB development loan, €4.10m | £1,084,780 | −£915,220 |
| w/c 12 Octforecast | £1,942,780 | −£57,220 |
| w/c 19 Octforecast | £2,774,780 | £774,780 |
| w/c 26 Octforecast | £2,987,780 | £987,780 |
Three weeks closed, ten forecast, no facility assumed.
Receipts and payments by week
What comes in against what goes out — the shape behind the closing line
Green in, red out.
Currency cover, next thirteen weeks
Net position by currency, sterling equivalent, split by what is already bought
The open leg still moves with the rate.
Positions and marks
Struck rate against this morning's fix
| Currency | Net position | Hedged | Cover | Mark |
|---|---|---|---|---|
| EURNet payer | −€4,128,000 | −€3,300,000 | 80% | −£47,190 |
| USDNet receiver | $1,284,000 | $640,000 | 50% | −£6,976 |
Policy is 75% on a net payer; USD is under it by decision.
Revolving credit facility
Matures March 2028
- Limit
- £8,000,000
- Drawn
- £2,500,000
- Undrawn
- £5,500,000
31% drawn. Drawing the £2.0m that clears w/c 5 Oct would take it to 56%.
Covenant
Minimum liquidity £2.0m at each week end (schedule 4)
Tested at each week end against liquid balances only — the £2,000,000 floor drawn across the forecast is this clause and nothing else.
What this excludes
The undrawn facility is deliberately absent from every closing figure in the forecast. A facility is capacity, not cash; a forecast that counts it never warns anybody, because it cannot go through the floor until the facility is exhausted — by which point the warning is useless.
Reported to the agent bank monthly, within ten business days of the month end.