31 December
2015
£m
31 December
2014
£m
1 January
2014
£m
Private placement notes160.1
Bank loans88.1
Bank overdrafts69.840.454.8
Amounts owed to subsidiary undertakings109.2189.7150.0
Derivative financial instruments1.30.50.1
Accruals and deferred income8.09.39.6
Corporation tax2.81.2
Total439.3241.1214.5

All of the Company's bank loans and overdrafts are unsecured. The bank loans are guaranteed by certain companies of the Group.