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2023
£000
2022
£000
Borrowings(8,950)(14,850)
Cash and cash equivalents11,338(3,974)
Unamortised debt arrangement fees321402
2,709(18,422)

The Group excludes IFRS 16 lease liabilities from its measure of net funds/debt as they are excluded from the definition of net debt as set out in the Group's borrowing facilities. See note 31 for APM definitions.