Tesco 2004 Annual Report Download - page 9

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TESCO PLC 7
Employees are encouraged to become involved in the financial
performance of the Group through a variety of schemes,
principally the Tesco employee profit-sharing scheme, the savings-
related share option scheme (Save-As-You-Earn) and the
Partnership Share Plan (Buy-As-You-Earn).
POLITICAL AND CHARITABLE DONATIONS Contributions to
community projects and to charities amounted to £3,953,582
(2003  £3,509,398). Including gifts in kind total donations
amounted to £11,048,435 (2003  £10,496,651).
There were no political donations (2003  nil). During the year
the Group made contributions of £44,713 (2003 - £31,282) in
the form of sponsorship for political events: Labour Party  £14,368;
Conservative Party  £5,502; Liberal Democrat Party  £6,340;
Plaid Cymru  £1,300; Fianna Fáil  £1,203; Usdaw  £16,000.
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 pay on time 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 A resolution to re-appoint PricewaterhouseCoopers
LLP as auditors of the company will be proposed at 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 18 June 2004.
By Order of the Board
Ms Lucy Neville-Rolfe Secretary
19 April 2004
Tesco PLC
Registered Number: 445790