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MARKS AND SPENCER GROUP PLC 49
20 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group Company
2005 2004 2005 2004
£m £m £m £m
Bank loans, overdrafts and commercial paper1212.9 126.0 ––
Syndicated bank facility 200.0 –––
Medium term notes (see note 22B) 58.3 216.5 ––
Securitised loan notes (see note 22B) 3.2 2.7 ––
Trade creditors 195.3 210.2 ––
Amounts owed to Group undertakings ––2,100.1 2,165.0
Taxation 15.5 79.8 0.5 –
Social security and other taxes 40.4 43.1 ––
Other creditors2178.7 297.7 ––
Customer deposits –439.3 ––
Accruals and deferred income 260.8 308.7 0.4 0.2
Proposed final dividend (see note 8) 124.2 160.7 124.2 160.7
1,289.3 1,884.7 2,225.2 2,325.9
1Bank loans, overdrafts and commercial paper includes a £5.0m (last year £5.0m) loan from the Hedge End Park Limited joint venture.
2Other creditors include £2.3m (last year £32.6m) which is shown in the calculation of the Group’s net debt and is treated as financing within the cash
flow statement.
21 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Group Company
2005 2004 2005 2004
£m £m £m £m
Medium term notes (see note 22B) 1,588.6 1,980.0 ––
Securitised loan notes (see note 22B) 310.4 313.3 ––
Other creditors1,2 20.7 226.3 ––
1,919.7 2,519.6 ––
1Other creditors includes £2.9m (last year £44.2m) which is shown in the calculation of the Group’s net debt and is treated as financing within the cash flow
statement, and £17.8m (last year £182.1m) of non-financial liabilities which have been excluded from the analysis in note 22B.
2Other creditors include £nil (last year £179.5m) in relation to the long-term assurance business.
22 ANALYSIS OF FINANCIAL LIABILITIES
A Interest rate and currency analysis
After taking into account the various interest rate and currency swaps entered into by the Group, the currency and interest rate exposure
of the Group’s financial liabilities are set out below. There are no financial liabilities other than short-term creditors excluded from this
analysis.
Group
2005 2004
Fixed rate Floating rate Total Fixed rate Floating rate Total
Currency £m £m £m £m £m £m
Sterling11,086.7 1,349.1 2,435.8 1,731.6 1,056.6 2,788.2
US dollar – 8.3 8.3 – 8.3 8.3
Euro – 0.2 0.2 – 3.6 3.6
Other –––– 0.1 0.1
1,086.7 1,357.6 2,444.3 1,731.6 1,068.6 2,800.2
1Included within floating rate liabilities are £65.7m (last year £84.9m) of unredeemed B Shares.
The floating rate sterling, US dollar and euro borrowings are linked to interest rates related to LIBOR. These rates are for periods ranging
from one month to six months. The fixed rate Sterling borrowings are at a weighted average rate of 6.1% (last year 5.5%) and the
weighted average time for which the rate is fixed is 11.4 years (last year 8.6 years).