BT 2001 Annual Report Download - page 108

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23. Loans and other borrowings (continued)
Apart from the lease ¢nance all borrowings at 31 March 2001 are unsecured. Lease ¢nance is repayable by instalments.
Group Company
2001
£m
2000
£m
2001
£m
2000
£m
Repayments fall due as follows:
Within one year, or on demand 12,136 5,650 21,201 12,551
Between one and two years 1,933 12 1,906 –
Between two and three years 2,430 1,225 2,403 1,190
Between three and four years 869 589 844 558
Between four and five years 4,245 895 4,225 867
After five years 9,298 2,633 8,714 2,221
Total due for repayment after more than one year 18,775 5,354 18,092 4,836
Total loans and other borrowings 30,911 11,004 39,293 17,387
The e¡ect of the change in the group’s accounting policy relating to the group’s loans and borrowings as disclosed in note 1, is
that the total loans and other borrowings disclosed at 31 March 2001 are »170 million lower than they would be prior to this
change. Prior to the change in policy the total loans and other borrowings would be »31,081 million.
24. Other creditors
Group Company
2001
£m
2000
£m
2001
£m
2000
£m
Trade creditors 3,287 2,416 2,139 1,801
Amounts owed to subsidiary undertakings ––1,968 762
Amounts owed to joint ventures (trading) 504 747 469 504
Corporation taxes 625 757 122 499
Other taxation and social security 379 377 307 349
Other creditors (a) 1,603 2,556 675 823
Accrued expenses 948 558 820 490
Deferred income 1,251 963 979 853
Dividends –861 –861
Total other creditors 8,597 9,235 7,479 6,942
(a) Group includes Esat purchase consideration of £1,167 million at 31 March 2000.
25. Provisions for liabilities and charges
Deferred
taxation(a)
£m
Pension
provisions
£m
Other
provisions(b)
£m
Total
£m
Group
Balances at 1 April 2000 354 629 73 1,056
Charged (credited) against profit for the year (84) 326 52 294
Utilised in the year – (620) (7) (627)
Total provisions at 31 March 2001 270 335 118 723
Company
Balances at 1 April 2000 152 629 21 802
Charged (credited) against profit for the year (120) 326 (2) 204
Utilised in the year – (620) (1) (621)
Total provisions at 31 March 2001 32 335 18 385
Notes to the financial statements
108 BT Annual report and Form 20-F