Tesco 2002 Annual Report Download - page 8

Download and view the complete annual report

Please find page 8 of the 2002 Tesco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 44

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44

6TESCO PLC
POLITICAL AND CHARITABLE DONATIONS
Contributions to community projects and to charity amounted
to £2,414,000 (2001 – £1,448,000). Including gifts in kind, total
donations amounted to £8,983,000 (2001 – £7,803,000).
There were no political donations (2001 – nil). During the year
the Group made contributions of £3,200 (2001 – nil) in the form of
sponsorship for political conferences.
SUPPLIER PAYMENT POLICY
Tesco PLC is a signatory to the CBI Code of Prompt Payment.
Copies of the Code may be obtained from the CBI, Centre Point,
103 New Oxford Street, London WC1A 1DU. Payment terms and
conditions are agreed with suppliers in advance.
Tesco PLC has no trade creditors in its balance sheet.The Group
pays its creditors on a timely basis which varies according to the type
of product and territory in which the suppliers operate.
GOING CONCERN
The Directors consider that the Group and the company have
adequate resources to remain in operation for the foreseeable future
and have therefore continued to adopt the going concern basis
in preparing the financial statements. As with all business forecasts,
the Directors’ statement cannot guarantee that the going concern
basis will remain appropriate given the inherent uncertainty about
future events.
AUDITORS
PricewaterhouseCoopers have expressed their willingness to
continue in office. In accordance with section 385 of the
Companies Act 1985, a resolution proposing the re-appointment of
PricewaterhouseCoopers as auditors of the company will be put to
the Annual General Meeting.
ANNUAL GENERAL MEETING
A separate circular accompanying the annual accounts explains the
special business to be considered at the Annual General Meeting on
14 June 2002.
By Order of the Board
Rowley Ager
Secretary
9 April 2002
Tesco PLC
Registered Number: 445790
directors’ report continued