Vodafone 2001 Annual Report Download - page 54

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52
Vodafone Group Plc
Annual Report & Accounts
for the year ended
31 March 2001
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS continued
23 Leased assets
Op erating leases
Commitments to non-cancellable operating lease payments within one year are as follows:
2001 2000
Land and Other Land and Other
buildings assets buildings assets
In respect of leases expiring: £m £m £m £m
Within one year 59 214 29 145
Between two and five years 50 28 71 60
After five years 73 27 118 35
–––––––– –––––––– –––––––– ––––––––
182 269 218 240
–––––––– –––––––– –––––––– ––––––––
Fin an ce leases
Tangible fixed assets at 31 March 2001 include the following amounts in respect of finance leases:
Equipment, Network
fixtures infra-
and fittings structure Total
£m £m £m
Cost 19 373 392
Accumulated depreciation (19) (148) (167)
–––––––– –––––––– ––––––––
Net book value – 225 225
–––––––– –––––––– ––––––––
31 March 2000
Net book value 3 144 147
–––––––– –––––––– ––––––––
Liabilities under leases for network infrastructure assets, with an original cost of £226m and net book value at 31 March 2001 of
£89m, have been unconditionally satisfied by call deposits and other assets, trust deed and set-off arrangements. Accordingly, lease
liabilities and the corresponding financial assets in respect of these network infrastructure assets are not included in the Group’s
balance sheet.
24 Capital com mitm en ts
2001 2000
£m £m
Tangible and intangible fixed asset expenditure contracted for but not provided 861 442
–––––––– ––––––––
Details of business acquisitions completed after 31 March 2001 are included in note 31 – Subsequent events.
25 Contin gen t liabilities
2001 2000
£m £m
Guarantees and indemnities of bank or other facilities including those in respect
of the Group’s joint ventures, associated undertakings and investments 1,339 1,155
–––––––– ––––––––
Guarantees and indemnities include £1,221m in respect of a letter of indemnity provided by the Company, in September 1999, and
subsequently extended, to a co-investor in certain operating companies in which the Group has equity interests. The co-investor has
provided the lending institutions to the operating companies with certain credit support documents, which are not legally binding
obligations on the co-investor.