CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprise:

Group
2019
£m
Group
2018
£m
Company
2019
£m
Company
2018
£m
Cash at bank and in hand34.921.20.20.1

Borrowings are analysed as follows:

MaturityGroup
2019
£m
Group
2018
£m
Company
2019
£m
Company
2018
£m
Current liabilities
Secured and interest-bearing bank loan20205.0
Non-current liabilities
Revolving credit facility202023.510.5
Secured and interest-bearing bank loan202026.638.5
Total borrowings55.149.0

The maturity profile is as follows:

Group
2019
£m
Group
2018
£m
Company
2019
£m
Company
2018
£m
Less than one year5.0
1-2 years50.15.0
2-3 years44.0
Total borrowings55.149.0

As at 31 May 2019, the Group had a funding facility comprising a multi-currency revolving credit facility of £80m (2018: £80m), a £20m multi-currency term loan (2018: £20m) and an additional overdraft of £5m (2018: £5m). The term loan amortises at a rate of £2.5m every six months. The interest payable on drawn-down funds ranges from 0.9% to 2.0% above LIBOR subject to the Group's net debt ¹ and interest to EBITDA¹ ratios.

As at 31 May 2019, the Group had committed bank facilities of £97.8m (2018: £102.7m), of which £55.1m (2018: £49.0m) had been drawn under these facilities, leaving £42.7m (2018: £53.7m) of undrawn facilities. These existing arrangements were agreed in November 2015 and were due for renewal in November 2020.

On 10 June 2019, the Group renegotiated its existing term loan and multi-currency revolving credit facilities into a new fully revolving credit facility of £100m with a new five-year term up to June 2024 on similar terms (pricing and covenants). Under the new arrangements, the Group can request an additional accordion facility to increase the total size of the revolving credit facility by up to £75m (previously £50m). In addition, the Group has retained its existing overdraft of £5m. Arrangement fees incurred will be amortised over the term accordingly. Historical arrangement fees have been fully amortised.

The fair value of borrowings is not materially different to its amortised cost.