Marks and Spencer 2003 Annual Report Download - page 45

Download and view the complete annual report

Please find page 45 of the 2003 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 56

  • 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

www.marksandspencer.co m 43
16. Current asset investments Group
2003 2002
£m £m
Listed investments:
Government securities 131.4 121.9
Listed in the United Kingdom 108.5 87.7
Listed overseas 59.5 57.0
Unlisted investments 4.6 6.1
304.0 272.7
17. Cash at bank and in hand
Cash at bank includes commercial paper and short-term deposits with banks and other financial institutions with initial
maturity of three months or less.
18. Analysis of financial assets
After taking into account the various interest rate swaps entered into by the Group, the currency and interest rate exposure
of the Group’s financial assets is set out below. There are no financial assets other than short-term debtors excluded from
this analysis.
A Interest rate and currency analysis Group
2003 2002
Non-interest Non-interest
Fixed rate Floating rate bearing Total Fixed rate Floating rate bearing Total
Currency £m £m £m £m £m £m £m £m
Sterling 144.4 1,641.2 53.8 1,839.4 115.4 2,016.2 130.6 2,262.2
US dollar 6.2 18.0 0.4 24.6 7.5 29.7 2.0 39.2
Euro 27.6 30.3 11.5 69.4 27.1 12.1 12.3 51.5
Other 19.5 34.4 0.6 54.5 14.4 92.1 0.7 107.2
197.7 1,723.9 66.3 1,987.9 164.4 2,150.1 145.6 2,460.1
The floating rate sterling and US dollar assets are at interest rates linked to LIBID. The non-interest bearing financial assets
are predominantly cash in tills and uncleared deposits.
B Analysis of fixed interest rate Group
2003 2002 2003 2002
Weighted Weighted Weighted average Weighted average
average average period for which period for which
interest rate interest rate rate is fixed rate is fixed
Currency %%Years Years
Sterling 5.6 6.0 10.1 9.0
US dollar 3.8 6.0 9.5 11.1
Euro 4.8 5.1 8.9 13.6
Other 2.6 3.8 6.6 11.3
C Analysis of financial assets Group
2003 2002
£m £m
Cash at bank and in hand 167.9 543.4
Current asset investments 304.0 272.7
Customer advances falling due in more than one year 1,481.6 1,603.1
Fixed asset investments 20.9 29.6
Other amounts receivable after more than one year 13.5 11.3
Financial assets as defined by FRS 13 1,987.9 2,460.1
Customer advances falling due in less than one year 534.3 579.9
Financial assets including short-term customer advances 2,522.2 3,040.0