Tesco 2000 Annual Report Download - page 36

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TESCO PLC
34
notes to the financial statementscontinued
NOTE 21 Provisions for liabilities and charges
Deferred
taxation
£m
At 27 February 1999 17
Amount charged in the year 2
At 26 February 2000 19
Potential amount
for deferred tax on
Amount provided timing differences
2000 1999 2000 1999
£m £m £m £m
Deferred taxation
Excess capital allowances over depreciation 1 – 358 315
Capital gains deferred by rollover relief – – (6) (8)
Short-term timing differences 18 17 18 12
19 17 370 319
Deferred taxation balances relate principally to short-term timing differences.
Where possible, taxation on capital gains has been or will be deferred by rollover relief under the provisions of the Taxation of Chargeable
Gains Act 1992.
NOTE 22 Leasing commitments
Finance leases
The future minimum finance lease payments to which the Group was committed
at 26 February 2000 and which have been guaranteed by Tesco PLC are: £m
Gross rental obligations 81
Less: finance charges allocated to future periods (15)
66
2000 1999
£m £m
Net amounts payable are:
Within one year 15 19
Between one and five years 24 8
After five years 27 –
66 27
Operating leases
2000 1999
£m £m
Group commitments during the 52 weeks to 24 February 2001, in terms of lease agreements expiring, are as follows:
Within one year 44
Between one and five years 18 10
After five years 147 135
169 149