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4. Derivative financial instruments
The fair values of derivative financial instruments are:
2014 2013
Assets
£m
Liabilities
£m
Total
£m
Assets
£m
Liabilities
£m
Total
£m
Amounts falling due within one year 284 (286) (2) 163 (228) (65)
Amounts falling due after more than one year 643 (154) 489 585 (458) 127
927 (440) 487 748 (686) 62
For each class of derivative the notional contract* amounts are as follows:
2014
£m
2013
£m
Interest rate swaps (6,531) (8,015)
Cross-currency interest rate swaps (4,490) (5,376)
Foreign exchange forward contracts (11,626) (9,080)
Total (22,647) (22,471)
*The notional contract amounts of derivatives indicate the gross nominal value of transactions outstanding at the balance sheet date.
5. Investments
The following table sets out the Company’s current asset investments:
2014
£m
2013
£m
Investments in short-term money funds 1,238 2,113
Short-term deposits 245 438
Restricted cash balances – collateral 21 172
1,504 2,723
6. Borrowings
The following table analyses the Company’s total borrowings:
2014
£m
2013
£m
Amounts falling due within one year
Bank loans 423 277
Bonds 904 336
1,327 613
Amounts falling due after more than one year
Bonds 1,850 2,762
Total borrowings 3,177 3,375
The maturity of total borrowings is disclosed in note 34 to the consolidated financial statements. There are no differences in the maturities
as calculated under IFRS or UK GAAP.
The notional amount of borrowings outstanding as at 31 March 2014 was £3,074m (2013: £3,250m). Further information on significant
borrowings can be found on the debt investors section of our website.
7. Called up share capital
The called up share capital amounting to £439m (2013: £433m) consists of 3,854,339,684 (2013: 3,794,575,998) ordinary shares. For
further information on share capital, refer to note 24 to the consolidated financial statements.
Notes to the Company
financial statements continued
158 National Grid Annual Report and Accounts 2013/14