Tesco 2005 Annual Report Download - page 52

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Notes to the financial statements continued
Note 20 Net debt
Group Company
2005 2004 2005 2004
£m £m £m £m
Due within one year: Bank and other loans 471 775 329 552
Finance leases 6 69 – –
Due within one to two years: Bank and other loans 745 126 655 25
Finance leases 9 69 – –
Due within two to five years: Bank and other loans 1,610 1,730 1,452 1,601
Finance leases 1 94 – –
Due otherwise than by
instalments after five years: Bank and other loans 1,930 2,324 1,930 2,324
Due wholly or in part by
instalments after five years: Bank and other loans 201–––
Finance leases 15 3 – –
Gross debt 4,988 5,190 4,366 4,502
Less: Cash at bank and in hand 800 670 – –
Money market investments and deposits 346 430 150 99
Net debt 3,842 4,090 4,216 4,403
Note 21 Financial instruments
An explanation of the objectives and policies for holding and issuing financial instruments is set out in the Operating and Financial
Review on pages 2 to 9. Other than where these items have been included in the currency risk disclosures, short-term debtors and
creditors have been excluded from the following analysis.
Analysis of interest rate exposure and currency of financial liabilities
The interest rate exposure and currency profile of the financial liabilities of the Group as at 26 February 2005, after taking into
account the effect of interest rate and currency swaps, were:
2005 2004
Floating rate Fixed rate Floating rate Fixed rate
liabilities liabilities Total liabilities liabilities Total
£m £m £m £m £m £m
Currency
Sterling – 2,203 2,203 360 2,702 3,062
Euro 577 24 601 508 23 531
Thai Baht 550 – 550 561 – 561
Czech Krona 335 139 474 317 77 394
Slovak Krona 13 31 44 70 6 76
Japanese Yen 23 141 164 54 99 153
Korean Won 654 – 654 272 – 272
Chinese Yuan 127 – 127–––
Other 149 22 171 141 – 141
Gross Liabilities 2,428 2,560 4,988 2,283 2,907 5,190
50 Tesco PLC