Marks and Spencer 2000 Annual Report Download - page 38

Download and view the complete annual report

Please find page 38 of the 2000 Marks and Spencer 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 48

  • 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

36 Marks and Spencer p.l.c.
Notes to the financial statements
19. CREDITORS: AM OUN TS FALLING DUE WITHIN ONE YEAR THE GROUP THE COMPANY
2000 1999 2000 1999
£m £m £m £m
Bank loans and overdrafts 469.0 445.8 29.3 –
Medium term notes (see note 21B) 700.4 466.8 ––
Trade creditors 219.3 214.7 180.8 163.7
Amounts owed to Group undertakings ––9.3 –
Taxation 112.8 98.3 82.9 72.7
Social security and other taxes 30.1 14.1 21.6 2.3
Other creditors(1) 254.3 244.5 138.3 146.4
Accruals and deferred income 224.5 238.4 121.4 135.0
Proposed final dividend 152.4 307.2 152.4 307.2
2,162.8 2,029.8 736.0 827.3
(1) Other creditors include £27.1m (last year £22.1m) which is shown in the calculation of the Group’s net debt and is treated as
financing within the cash flow statement.
20. CREDITORS: AM OUN TS FALLING DUE AFTER M ORE THAN ONE YEAR THE GROUP THE COMPANY
2000 1999 2000 1999
£m £m £m £m
Medium term notes (see note 21B) 686.1 665.4 ––
Other creditors(1)(2) 118.2 107.2 ––
804.3 772.6 ––
(1) Other creditors include £56.3m (last year £67.0m) which is shown in the calculation of the Group’s net debt and is treated as
financing within the cash flow statement.
(2) Other creditors include £58.2m (last year £33.0m) of non-financial liabilities which have been excluded from the analysis in
note 21.
21. ANALYSIS OF FINANCIAL LIABILITIES
A Interest rate and currency analysis
After taking into account the various interest rate and currency swaps entered into by the Group, the currency and interest rate
exposure of the Group’s financial liabilities are set out below. There are no financial liabilities other than short-term creditors excluded
from this analysis.
THE GROUP
2000 1999
FIXED RATE FLOATING RATE TOTAL FIXED RATE FLOATING RATE TOTAL
£m £m £m £m £m £m
Currency
Sterling 100.0 1,408.3 1,508.3 100.0 1,189.0 1,289.0
US dollar – 183.8 183.8 – 203.6 203.6
Other – 250.5 250.5 – 181.7 181.7
100.0 1,842.6 1,942.6 100.0 1,574.3 1,674.3
The floating rate sterling and US dollar borrowings are linked to interest rates related to LIBOR. These rates are for periods ranging
from one month to six months. The fixed rate sterling borrowings are at a weighted average rate of 6.8% and the weighted average
time for which the rate is fixed is 3.3 years.