Tesco 1999 Annual Report Download - page 32

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30 TESCO PLC ANNUAL REPORT 1999
Note 13 Fixed asset investments continued
The net borrowings of the joint ventures, as at 27 February 1999, were as follows:
1998
1999 (restated)
£m £m
Cash and deposits 979 555
Debenture stock – repayable 2001 (38)(36)
Term bank loan – repayable 2003 (134)(128)
Other loans (900)(578)
(93)(187)
There is no recourse to Group companies in respect of the borrowings of the joint ventures, apart from £15m (1998 – £15m) which
has been guaranteed by Tesco PLC (note 29).
Details of transactions and balances with the joint ventures are set out in note 30.
Group Company
1999 1998 1999 1998
Note 14 Stocks £m £m £m £m
Goods held for resale 595 501 ––
Development property 72 83 ––
667 584 ––
Additions to development property include £2m (1998 – £3m) of interest capitalised. Accumulated capitalised interest at 27 February
1999 was £14m (1998 – £12m).
Group Company
1999 1998 1999 1998
Note 15 Debtors £m £m £m £m
Amounts owed by Group undertakings ––1,690 1,002
Prepayments and accrued income 31 34 202 262
Advance corporation tax recoverable –3–3
Other debtors 100 96 12 4
Amounts owed by undertakings in which the company has a participating interest 20 –20 –
151 133 1,924 1,271
Debtors falling due after one year included above:
Advance corporation tax recoverable –3–3
Group Company
1999 1998 1999 1998
Note 16 Investments £m £m £m £m
Money market deposits 199 176 ––
Bonds and certificates of deposit
(market value £2m, 1998 – £20m) 220 22
201 196 22
Notes to the financial statements continued