Page 90 - Paragon Annual Report 2

86 | Group financial statements
Notes to the consolidated financial statements (continued) 18 Trade and other payables
Trade payables
Other taxes and social security
Holiday accrual
Other payables
Amount owed to joint ventures and associates Accruals for goods and services
Financial instrument
Deferred consideration
54,053 11,884 5,911 4,563 – 15,439 – 1,163 93,013
2017
€000
85,077
20,471
7,859
4,463
2,251
24,349
399
3,469
2016
€000
148,338
Amount owed to joint ventures and associates include historic amounts owed to Inlays India Private Limited and trading balances with dsi Billing Services Limited and European Direct Mail Limited.
Financial instruments
A third party holds a put option of 251,309 shares in ASK SA with an exercise price of €1.59166 which can be exercised within the next twelve months.
The Directors consider that the carrying amount of trade and other payables approximates their fair value. The deferred consideration is payable as follows:
Within one year Beyond one year
19 Borrowings
Bank loans
Bonds net of unamortised issued costs Bank overdrafts
The borrowings are repayable as follows:
Within one year
Between two and five years Beyond five years
1,163 858 2,021
47,720 – 6,861 54,581
23,947 29,942 692 54,581
2017
€000
3,469
2,119
5,588
2016
€000
2017
2016
€000
56,287
51,227
9,094
€000
116,608
2017
€000
26,311
37,930
52,367
2016
€000
116,608
Paragon Group Limited – 05258175