BT 2005 Annual Report Download - page 92

Download and view the complete annual report

Please find page 92 of the 2005 BT annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 146

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146

16. Net debt
At 1 April
2004
£m
Cash flow
£m
Acquisition
of subsidiary
undertakings
£m
Other
non-cash changes
£m
Currency
movement
£m
At 31 March
2005
£m
Analysis of net debt
Cash in hand and at bank 109 97 – – – 206
Overnight deposits 292 85 – – – 377
Bank overdrafts (2) ––––(2)
399 182 – – – 581
Other current asset investments 4,871 (587) – (64) – 4,220
Short-term investments and cash,
less bank overdrafts 5,270 (405) – (64) – 4,801
Debt due within one year, excluding
bank overdrafts (1,269) 1,215 (20) (4,422) – (4,496)
Debt due after one year (12,426) 77 (139) 4,399 (2) (8,091)
Total debt, excluding bank overdrafts (13,695) 1,292 (159) (23) (2) (12,587)
Net debt (8,425) 887 (159) (87) (2) (7,786)
2005
£m
2004
£m
2003
£m
Reconciliation of net cash flow to movement in net debt
Increase (decrease) in cash in the year 182 44 (19)
Cash outflow from decrease in debt 1,292 2,301 2,515
Cash (outflow) inflow from increase in liquid resources (587) (1,123) 1,729
Decrease in net debt resulting from cash flows 887 1,222 4,225
Currency and translation movements (2) (4) (67)
(Increase) decrease in net debt on acquisition or disposal of subsidiary undertakings (159) (1) 13
Other non-cash movements (87) (69) (43)
Decrease in net debt in the year 639 1,148 4,128
Net debt at 1 April (8,425) (9,573) (13,701)
Net debt at 31 March (7,786) (8,425) (9,573)
17. Intangible fixed assets
Goodwill
£m
Telecommunication
licences
and other
£m
Total
£m
Cost
1 April 2004 2,585 9 2,594
Acquisitions 289 192 481
Disposals (1) – (1)
Currency movements (3) 1 (2)
Total cost at 31 March 2005 2,870 202 3,072
Amortisation
1 April 2004 2,383 7 2,390
Acquisitions –3838
Charge for the year 16 6 22
Disposals (1) – (1)
Total amortisation at 31 March 2005 2,398 51 2,449
Net book value at 31 March 2005 472 151 623
Net book value at 31 March 2004 202 2 204
Notes to the financial statements BT Group plc Annual Report and Form 20-F 2005 91