Marks and Spencer 2002 Annual Report Download - page 45

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www.marksandspencer.com 43
17. Cash at bank and in hand
Cash at bank includes commercial paper and short-term deposits with banks and other financial institutions with
initial maturity of three months or less.
18. Analysis of financial assets
After taking into account the various interest rate swaps entered into by the Group, the currency and interest rate
exposure of the Group’s financial assets is set out below. There are no financial assets other than short-term debtors
excluded from this analysis.
A Interest rate and currency analysis Group
2002 2001
Non-interest Non-interest
Fixed rate Floating rate bearing Total Fixed rate Floating rate bearing Total
Currency £m £m £m £m £m £m £m £m
Sterling 115.4 2,016.2 130.6 2,262.2 141.2 1,740.5 87.8 1,969.5
US dollar 7.5 29.7 2.0 39.2 11.5 30.1 2.0 43.6
Euro 27.1 12.1 12.3 51.5 14.1 21.7 11.1 46.9
Other 14.4 92.1 0.7 107.2 10.7 22.4 1.5 34.6
164.4 2,150.1 145.6 2,460.1 177.5 1,814.7 102.4 2,094.6
The floating rate sterling and US dollar assets are at interest rates linked to LIBID. The non-interest bearing cash is
predominantly cash in tills and uncleared deposits.
B Analysis of fixed interest rate Fixed rate financial assets
2002 2001 2002 2001
Weighted Weighted average Weighted average
average Weighted average period for which period for which
interest rate interest rate rate is fixed rate is fixed
Currency %%Years Years
Sterling 6.0 6.7 9.0 9.0
US dollar 6.0 6.5 11.1 11.1
Euro 5.1 5.1 13.6 6.0
Other 3.8 2.3 11.3 8.2
C Analysis of financial assets Group
2002 2001
£m £m
Cash at bank and in hand 543.4 154.4
Current asset investments 272.7 260.0
Customer advances falling due in more than one year 1,603.1 1,630.1
Fixed asset investments 29.6 38.5
Other amounts receivable after more than one year 11.3 11.6
Financial assets as defined by FRS 13 2,460.1 2,094.6
Customer advances falling due in less than one year 579.9 629.1
Financial assets including short-term customer advances 3,040.0 2,723.7
19. Creditors: amounts falling due within one year Group Company
2002 2001 2002
£m £m £m
Bank loans, overdrafts and commercial paper 265.4 534.8 –
Medium term notes (see note 21B) 382.7 486.8 –
Securitised loan notes 2.3 ––
Trade creditors 199.6 207.5 –
Amounts owed to Group undertakings ––1,724.4
Taxation 115.9 95.6 –
Social security and other taxes 31.7 33.7 –
Other creditors1340.9 247.4 –
Accruals and deferred income 278.6 223.8 –
Proposed final dividend 133.7 152.0 133.7
1,750.8 1,981.6 1,858.1
1Other creditors include £27.3m (last year £22.5m) which is shown in the calculation of the Group’s net debt and is treated as financing
within the cash flow statement.