Tesco 1998 Annual Report Download - page 31

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2 9
Note 16 Creditors falling due within one year
Bank loans and overdrafts (a) (b)
Trade creditors
Amounts owed to Group undertakings
Other creditors
Corporation tax (c)
Other taxation and social security
Accruals and deferred income (d)
Finance leases (note 21)
Proposed final dividend
a) Bank deposits at subsidiary undertakings of £750m (1997 – £663m) have been offset against borrowings in the parent company
under a legal right of set-off.
b) Includes £8m (1997 – £8m) secured on various properties.
c) The corporation tax liability represents the charge for the year after deducting tax relief for capitalised interest and advance
corporation tax recoverable within one year.
d) A gain of £45m, realised in a prior year, on terminated interest rate swaps is being spread over the life of replacement
swaps entered into at the same time for similar periods. Accruals and deferred income include £5m (1997 – £5m) attributable to
these realised gains with £18m (1997 – £23m) being included in other creditors falling due after more than one year (note 17).
1998
£m
607
972
–
387
256
99
197
17
177
2,712
Group
1997
£m
285
826
–
322
255
90
147
21
155
2,101
1998
£m
1,263
–
796
–
15
–
15
–
177
2,266
Company
1997
£m
931
–
137
8
41
–
6
–
155
1,278
Note 17 Other creditors falling due after more than one year
4% unsecured deep discount loan stock 2006 (a)
Finance leases (note 21)
103⁄8% bonds 2002 (b)
83⁄4% bonds 2003 (c)
71⁄2% bonds 2007 (d)
E.C.S.C. loans 1998-1999
Other loans (e)
Accruals and deferred income (note 16)
a) The 4% unsecured deep discount loan stock is redeemable at a par value of £125m in 2006.
b) The 103⁄8% bonds are redeemable at a par value of £200m in 2002.
c) The 83⁄4% bonds are redeemable at a par value of £200m in 2003.
d) The 71⁄2% bonds are redeemable at a par value of £250m in 2007.
e) Includes £31m (1997 – £38m) secured on various properties.
1998
£m
83
25
200
200
250
3
31
792
20
812
Group
1997
£m
80
55
200
200
–
8
45
588
23
611
1998
£m
83
–
200
200
250
3
–
736
–
736
Company
1997
£m
80
–
200
200
–
8
–
488
–
488