Vodafone 2000 Annual Report Download - page 56

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Vodafone AirTouch Plc Annual Report & Accounts for the year ended 31 March 2000
54
31 Fixed asset investments
Subsidiary Associated Other
undertakings undertakings Investments Total
£m £m £m £m
Cost
1 April 1999 3,199 23 – 3,222
Exchange movements – (1) – (1)
Additions 93,872 – 4,384 98,256
Disposals (43,519) (6) (2,536) (46,061)
–––––––– –––––––– –––––––– ––––––––
31 March 2000 53,552 16 1,848 55,416
–––––––– –––––––– –––––––– ––––––––
The Company’s 98.62% investment in the issued share capital of Mannesmann AG has been recorded based on the nominal value of the
shares issued by the Company, as permitted by section 131 of the Companies Act 1985. Details of the Company’s shares issued in respect
of this investment are set out in note 18. The Company holds 499,970,377 shares in Mannesmann AG, with an aggregate nominal value
of 1,278m.
Loans to associated undertakings included above amounted to £16m at 31 March 2000 (1999 – £17m). The Company’s subsidiary and
associated undertakings and other investments are detailed on pages 56 and 57.
32 Debtors
2000 1999
£m £m
Amounts owed by subsidiary undertakings 7,455 527
Group relief receivable 37 35
Other debtors 62 10
–––––––– ––––––––
7,554 572
–––––––– ––––––––
33 Creditors: amounts falling due within one year 2000 1999
£m £m
Bank loans, other loans and overdrafts 12 62
Commercial paper 703 208
Amounts owed to subsidiary undertakings 10,224 520
Taxation 1–
Other creditors 74
Dividends 417 100
Accruals and deferred income 246 7
–––––––– ––––––––
11,610 901
–––––––– ––––––––
34 Creditors: amounts falling due after more than one year
2000 1999
£m £m
Bank loans –606
Other loans 4,694 515
–––––––– ––––––––
4,694 1,121
–––––––– ––––––––
Other loans are repayable as follows:
Between one and two years 305 –
Between two and five years 1,337 515
After five years 3,052 –
–––––––– ––––––––
Other loans 4,694 515
–––––––– ––––––––
The other loans include £249m (1999 – £248m) and £248m (1999 – £248m) of sterling bonds with coupon rates of 7.875% and 7.5%,
respectively, £893m (1999 – £Nil) of eurobonds with a coupon rate of 5.75%, and £1,089m (1999 – £Nil), £1,702m (1999 – £Nil) and
£459m (1999 – £Nil) of US Dollar bonds with coupon rates of 7.625%, 7.75% and 7.875%, respectively. The bonds are repayable in 2001,
2004, 2006, 2005, 2010 and 2030, respectively.
Notes to the Company Balance Sheet