Tesco 2000 Annual Report Download - page 33

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TESCO PLC
31
NOTE 17 Creditors falling due within one year
Group Company
2000 1999 2000 1999
£m £m £m £m
Bank loans and overdrafts (a) (b) 832 811 1,327 1,341
Trade creditors 1,248 1,100 – –
Amounts owed to Group undertakings – – 905 1,733
Other creditors 603 446 19 3
Corporation tax (c) 282 236 33 –
Other taxation and social security 78 92 1 –
Accruals and deferred income (d) 217 177 28 21
Finance leases (note 22) 15 19 – –
Proposed final dividend 212 194 212 194
3,487 3,075 2,525 3,292
a Bank deposits at subsidiary undertakings of £746m (1999 – £767m) have been offset against borrowings in the parent company under a legal right of set-off.
b Includes £11m (1999 – £9m) secured on various properties.
c The prior year comparative includes relief for advance corporation tax recoverable within one year.
d A gain of £45m, realised in a prior year, on terminated interest rate swaps is being spread over the life of replacement swaps entered into at the same time for similar
periods. Accruals and deferred income include £6m (1999 – £6m) attributable to these realised gains with £6m (1999 – £12m) being included in other creditors falling
due after more than one year (note 18).
NOTE 18 Creditors falling due after more than one year
Group Company
2000 1999 2000 1999
£m £m £m £m
4% unsecured deep discount loan stock 2006 (a) 90 87 90 87
Finance leases (note 22) 518––
103⁄8% bonds 2002 (b) 200 200 200 200
83⁄4% bonds 2003 (c) 200 200 200 200
71⁄2% bonds 2007 (d) 325 325 325 325
51⁄8% bonds 2009 (e) 350 150 350 150
6% bonds 2029 (f ) 200 – 200 –
Medium term notes (g) 127 226 127 226
Other loans (h) 16 22 – –
1,559 1,218 1,492 1,188
Accruals and deferred income (note 17) 612––
1,565 1,230 1,492 1,188
a The 4% unsecured deep discount loan stock is redeemable at a par value of £125m in 2006.
b The 103⁄8% bonds are redeemable at a par value of £200m in 2002.
c The 83⁄4% bonds are redeemable at a par value of £200m in 2003.
d The 71⁄2% bonds are redeemable at a par value of £325m in 2007.
e The 51⁄8% bonds are redeemable at a par value of £350m in 2009.
fThe 6% bonds are redeemable at a par value of £200m in 2029.
g The medium term notes are of various maturities and include foreign currency
and sterling denominated notes swapped into floating rate sterling.
h Secured on various properties.