Financial liabilities - borrowings (Tables)

12 Months Ended

Dec. 31, 2023

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Summary of Current and Non - Current Borrowings

The Group’s current and non-current borrowings are as follows:

All figures in £ millions	2023		2022
Non-current
1.375% Euro notes 2025 (nominal amount €300m)		257		257
3.75% GBP notes 2030 (nominal amount £350m)		354		353
Lease liabilities (see note 35)		483		534
		1,094		1,144
Current (due within one year or on demand)
Lease liabilities (see note 35)		64		71
Overdrafts		3		15
		67		86
Total borrowings		1,161		1,230

Summary of Maturities of the Group's Non-Current Borrowings

The maturities of the Group’s non-current borrowings are as follows:

All figures in £ millions	2023		2022
Between one and two years		70		72
Between two and five years		419		442
Over five years		605		630
		1,094		1,144

Summary of Carrying Amounts and Market Value of Borrowings

The carrying amounts and market values of borrowings are as follows:

					2023							2022
All figures in £ millions	Effective interest rate		Carrying value		Market value			Effective interest rate		Carrying value		Market value
1.375% Euro notes 2025		1.44%		257		252			1.44%		257		252
3.75% GBP notes 2030		3.93%		354		327			3.93%		353		310
Overdrafts		n/a		3		3			n/a		15		15
				614		582					625		577

Summary of Carrying Amounts of Borrowings which Denominated in Currencies

The carrying amounts of the Group’s borrowings before the effect of derivatives (see notes 16 and 19 for further information on the impact of derivatives) are denominated in the following currencies:

All figures in £ millions	2023		2022
US dollar		217		276
Sterling		667		672
Euro		261		262
Other		16		20
		1,161		1,230