Tesco 2001 Annual Report Download - page 10

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8TESCO PLC
Political and charitable donations
Contributions to community projects and to charity amounted to
£1,448,000 (2000 – £1,485,000). There were no political donations.
Supplier payment policy
Tesco PLC is a signatory to the CBI Code of Prompt Payment. Copies
of the Code may be obtained from the CBI, Centre Point, 103 New
Oxford Street, London WC1A 1DU. Payment terms and conditions
are agreed with suppliers in advance.
Tesco PLC has no trade creditors in its balance sheet.The Group
pays its creditors on a timely basis which varies according to the type
of product and territory in which the suppliers operate.
Going concern
The Directors consider that the Group and the company have
adequate resources to remain in operation for the foreseeable
future and have therefore continued to adopt the going concern
basis in preparing the financial statements. As with all business
forecasts the Directors’ statement cannot guarantee that the going
concern basis will remain appropriate given the inherent uncertainty
about future events.
Auditors
PricewaterhouseCoopers have expressed their willingness to
continue in office. In accordance with section 384 of the Companies
Act 1985, a resolution proposing the re-appointment of
PricewaterhouseCoopers as auditors of the company will be put to
the Annual General Meeting.
Annual General Meeting
A separate circular accompanying the annual accounts explains the
special business to be considered at the Annual General Meeting
on 15 June 2001.
By Order of the Board
Rowley Ager
Secretary
9 April 2001
Tesco PLC
Registered Number: 445790
DIRECTORS’ REPORT continued