Tesco 1999 Annual Report Download - page 36

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34 TESCO PLC ANNUAL REPORT 1999
Deferred Integration
taxation costs Total
Note 21 Provisions for liabilities and charges £m £m £m
At 28 February 1998 63238
Restatement of integration costs 4 (32) (28)
At 28 February 1998 (restated) 10 – 10
Amount charged in the year 7 – 7
At 27 February 1999 17 – 17
Details of the restatement of provisions for liabilities and charges are disclosed in note 2.
Potential amount
for deferred tax on
Amount provided timing differences
1998
1999 (restated) 1999 1998
£m £m £m £m
Deferred taxation
Excess capital allowances over depreciation ––315 312
Capital gains deferred by rollover relief ––(8)–
Short term timing differences 17 10 12 (8)
17 10 319 304
Deferred taxation balances relate 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
a) Finance leases
The future minimum finance lease payments to which the Group was committed at 27 February 1999 and which have been
guaranteed by Tesco PLC are:
£m
Gross rental obligations 30
Less: finance charges allocated to future periods (3)
27
1999 1998
£m £m
Net amounts payable are:
Within one year 19 17
Between one and five years 824
After five years –1
27 42
b) Operating leases
Group commitments during the 52 weeks to 26 February 2000, in terms of lease agreements expiring, are as follows:
1999 1998
£m £m
Within one year 44
Between one and five years 10 8
After five years 135 127
149 139
Notes to the financial statements continued