Tesco 2006 Annual Report Download - page 102

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100 Tesco plc
Notes to the financial statements continued
Note 33 Effect of adoption of IAS 32 and IAS 39 on Financial instruments
The Group adopted IAS 32 and IAS 39 from 27 February 2005 and has taken the exemption available under IFRS 1 not to restate
comparatives for IAS 32 and IAS 39. The analysis below details the transitional adjustments arising from the adoption of IAS 32
and IAS 39 as at 27 February 2005.
Financial Financial
Instruments: Instruments:
Presentation Recognition
Under IFRSs and and Under IFRSs
(excluding IAS Disclosure Measurement (including IAS
32 and IAS 39) IAS 32 IAS 39 32 and IAS 39)
£m £m £m £m
Non-current assets
Goodwill and intangible assets 1,408 – – 1,408
Property, plant and equipment 14,521 – – 14,521
Investment property 565 – – 565
Investments in Joint ventures and Associates 416 – (10) 406
Other investments 7 – (7) –
Deferred tax assets 14 – – 14
16,931 – (17) 16,914
Current assets
Inventories 1,309 – – 1,309
Trade and other receivables 769 – (64) 705
Derivative financial instruments – – 40 40
Cash and cash equivalents 1,146 – – 1,146
3,224 – (24) 3,200
Current liabilities
Trade and other payables (4,974) – 475 (4,499)
Financial liabilities
–Borrowings (482) – (63) (545)
–Derivative financial instruments – – (258) (258)
Current tax liabilities (221) – – (221)
Provisions (3) – – (3)
(5,680) – 154 (5,526)
Net current liabilities (2,456) – 130 (2,326)