Marks and Spencer 2001 Annual Report Download - page 35

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19. Creditors: amounts falling due within one year The Group The Company
2001 2000 2001 2000
£m £m £m £m
Bank loans and overdrafts 534.8 469.0 35.8 29.3
Medium term notes (see note 21B) 486.8 700.4 ––
Trade creditors 207.5 219.3 173.6 180.8
Amounts owed to Group undertakings ––20.9 9.3
Taxation 95.6 112.8 68.1 82.9
Social security and other taxes 33.7 30.1 24.0 21.6
Other creditors1247.4 254.3 131.0 138.3
Accruals and deferred income 223.8 224.5 123.7 121.4
Proposed final dividend 152.0 152.4 152.0 152.4
1,981.6 2,162.8 729.1 736.0
1Other creditors include £22.5m (last year £27.1m) which is shown in the calculation of the Group’s net debt and is treated as financing within the cash flow
statement.
20. Creditors: amounts falling due after more than one year The Group The Company
2001 2000 2001 2000
£m £m £m £m
Medium term notes (see note 21B) 598.3 686.1 ––
Other creditors1,2 136.8 118.2 ––
735.1 804.3 ––
1Other creditors include £49.8m (last year £56.3m) which is shown in the calculation of the Group’s net debt and is treated as financing within the cash flow
statement.
2Other creditors include £84.8m (last year £58.2m) 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
2001 2000
Fixed rate Floating rate Total Fixed rate Floating rate Total
£m £m £m £m £m £m
Currency
Sterling 100.0 1,236.2 1,336.2 100.0 1,408.3 1,508.3
US dollar – 193.9 193.9 – 183.8 183.8
Euro – 145.0 145.0 – 184.9 184.9
Other – 19.3 19.3 – 65.6 65.6
100.0 1,594.4 1,694.4 100.0 1,842.6 1,942.6
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% (last year 6.8%)
and the weighted average time for which the rate is fixed is 2.3 years (last year 3.3 years).
www.marksandspencer.com 35