Tesco 2004 Annual Report Download - page 42

Download and view the complete annual report

Please find page 42 of the 2004 Tesco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 60

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60

40 TESCO PLC
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
NOTE 18 Creditors falling due within one year
Group Company
2004 2003 2004 2003
£m £m £m £m
Bank loans and overdrafts (a) (b) 775 1,286 552 1,162
Trade creditors 2,434 2,196
Amounts owed to Group undertakings 1,189 351
Corporation tax 308 230 6 5
Other taxation and social security 190 170 3
Other creditors 1,142 851 323 20
Loans from joint ventures 102
Accruals and deferred income (c) 320 263 13 105
Finance leases (note 23) (d) 69 55  
Dividends 370 319 370 318
5,618 5,372 2,456 1,961
(a) Bank deposits in subsidiary undertakings of £217m (2003  £299m) have been offset against borrowings in the parent company under a legal right
of set-off.
(b) Floating rate liabilities bear interest at rates based on relevant national LIBOR equivalents.The weighted average rate of interest payable on these amounts
at the year end is approximately 4%.
(c) A gain of £235m, realised this 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 includes £211m (2003  nil) attributable to these realised gains.
(d) Finance leases bear interest at a weighted average rate of approximately 7.5%.
NOTE 19 Creditors falling due after more than one year
Group Company
2004 2003 2004 2003
£m £m £m £m
4% unsecured deep discount loan stock 2006 (a) 110 104 110 104
Finance leases (note 23) 166 171  
6% bonds 2006 (b) 150 150 150 150
0.7% 50bn Yen bonds 2006 (l) 285 285 285 285
71Ú2% bonds 2007 (c) 325 325 325 325
6% bonds 2008 (d) 250 250 250 250
51Ú4% 500m Euro bonds 2008 (l) 345 308 345 308
51Ú8% bonds 2009 (e) 350 350 350 350
65Ú8% bonds 2010 (f) 150 150 150 150
43Ú4% 750m Euro bonds 2010 (l) 528 477 528 477
4% RPI bonds 2016 (g) 220 212 220 212
51Ú2% bonds 2019 (h) 350 350 350 350
3.322% LPI bonds 2025 (i) 221 215 221 215
6% bonds 2029 (j) 200 200 200 200
51Ú2% bonds 2033 (k) 200 200 200 200
Other bonds (l) 266 197 266 196
Other loans (m) 230 90  
4,346 4,034 3,950 3,772
Other creditors 22 15
4,368 4,049 3,950 3,772