Notes	30 November 2014 £m	1 December 2013 £m
Current liabilities
Borrowings		4.4	3.3
Obligations under finance leases	4.3	26.5	25.0
		30.9	28.3
Non-current liabilities
Borrowings		2.3	6.2
Obligations under finance leases	4.3	142.5	126.9
		144.8	133.1
Total borrowings and finance leases		175.7	161.4

Borrowings

	Less than one year £m	Between one year and two years £m	Between two years and five years £m	Total £m
As at 1 December 2013
Secured loans	3.3	4.0	2.2	9.5
Total borrowings	3.3	4.0	2.2	9.5
As at 30 November 2014
Secured loans	4.4	1.8	0.5	6.7
Total borrowings	4.4	1.8	0.5	6.7

The secured loans outstanding at period end can be analysed as follows:

Principal amount £m	Inception	Secured over	Current interest rate	Instalment frequency	Final payment due	Carrying amount as at 30 November 2014 £m	Carrying amount as at 1 December 2013 £m
8.0	May 07	Property, plant and equipment	Clearing bank base rate + 3.0%	Quarterly	Feb 15	0.8	2.4
1.5	Dec 06	Freehold property	LIBOR + 2.75%	Quarterly	Feb 15	0.4	0.5
1.5	Feb 09	Freehold property	LIBOR + 2.75%	Quarterly	Feb 15	0.6	0.8
2.8	Dec 09	Freehold property	LIBOR + 2.75%	Quarterly	Dec 15	1.5	1.7
2.6	July 12	Freehold property	LIBOR + 2.75%	Quarterly	July 15	1.9	2.2
2.5	July 12	Property, plant and equipment	9.12%‡	Monthly	July 17	1.5	1.9
						6.7	9.5
Disclosed as:
Current						4.4	3.3
Non-current						2.3	6.2
						6.7	9.5

‡ Calculated as the effective interest rate, the calculation of which includes an optional balloon payment at the end of the term.

During the year a three-year £100 million revolving credit facility was entered into with Barclays, HSBC, RBS and Santander. As at 30 November 2014 the facility remains unutilised. The facility contains restrictions concerning dividend payments and additional debt and leases.