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Financial Assets and Liabilities | 12 Months Ended
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Jun. 30, 2018
Financial Instruments [Abstract] |
Financial Assets and Liabilities | Financial Assets and Liabilities Categories of financial assets and financial liabilities The accounting policies provide a description of each category of financial assets and financial liabilities. The fair values of financial assets and liabilities are included at the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the end of the reporting period. The carrying amounts of cash and cash equivalents, finance leases, bank loans, trade and other receivables and trade and other payables is a close approximation of their fair values. Where financial assets and financial liabilities are measured at fair value, their measurement is classified into the following hierarchy:
• | Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities
• | Level 2 – inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices)
• | Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs).
The following financial assets and financial liabilities were classified within level 3:
Financial Assets | 2018 £’000 |  | 2017 £’000
Trade and other receivables | £ | 52,352 |  |  | £ | 41,494 |
Cash and cash equivalents | 15,048 |  |  | 23,571 |
Total financial assets | £ | 67,400 |  |  | £ | 65,065 |
Financial liabilities | 2018 £’000 |  | 2017 £’000
Non-current borrowings | £ | 20 |  |  | £ | 63 |
Current borrowings | 19,744 |  |  | 29,402 |
Trade and other payables | 40,243 |  |  | 24,358 |
Contingent consideration | 12,510 |  |  | — |
Deferred consideration | 4,401 |  |  | — |
Other liabilities | 277 |  |  | 253 |
Total financial liabilities | £ | 77,195 |  |  | £ | 54,076 |
Fair Value Movement of Contingent Consideration
|  | £’000
Fair value at 1 July 2017 |  | £ | — |
Arising on acquisition of Velocity Partners |  | 10,933 |
Movement in fair value recognised in finance cost |  | 126 |
Foreign exchange recognised in other comprehensive income |  | 255 |
Fair value at 30 June 2018 |  | £ | 11,314 |
The valuation technique used, significant unobservable inputs and inter-relationship between significant unobservable inputs are shown below:
Valuation technique |  | Significant unobservable inputs |  | Inter-relationship between significant unobservable inputs and fair value measurement
Scenario based discounted cash flow: the valuation model considers the present value of the expected future payments in several probability weighted scenarios, discounted a t risk adjusted discount rate. |  | Expected future cash flows (30 June 2018 - total maximum of £12.1million, minimum of £nil over 3 years) Fair value of ordinary shares (30 June 2018 - $12.79) Discount rate (30 June 2018 - 3%) |  | The estimated fair value would increase (decrease) if: the expected cash flows were higher (lower); or the fair value of ordinary shares was higher (lower); or the risk-adjusted discount rate were lower (higher)

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- Definition Financial Instruments [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for financial instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2017-01-01 -Section Scope -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=7&date=2017-03-01&anchor=sect_Scope&doctype=Standard -URIDate 2017-03-09 + Details
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