Tesco 2007 Annual Report Download - page 77

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Note 17 Cash and cash equivalents
2007 2006
£m £m
Cash at bank and in hand 902 964
Short-term deposits 140 361
1,042 1,325
The effective rate of interest on short-term deposits is 4.8% (2006 – 3.9%) and the average maturity term is 4 weeks
(2006 – 2 weeks).
Note 18 Trade and other payables
Current
2007 2006
£m £m
Trade payables 3,317 2,832
Other taxation and social security 203 216
Other payables 1,329 1,257
Amounts payable to joint ventures and associates 128 79
Accruals and deferred income 1,062 693
Dividends 76
6,046 5,083
Non-current
2007 2006
£m £m
Other payables 29 29
Note 19 Borrowings
Current
Effective
interest rate
Effective after hedging
interest rate transactions Maturity 2007 2006
Par value % % year £m £m
Bank loans and overdrafts 5.4 5.4 2007 1,052 1,004
Loan from joint venture – – 2007 10 9
4% unsecured deep discount loan stock £125m – – 2006 – 122
6% Medium Term Note (MTN) £150m – – 2006 – 158
0.7% MTN ¥50bn – – 2006 – 247
7.5% MTN (a) £258m 7.6 5.8 2007 268 –
Other MTNs 3.4 3.4 – 188 86
Finance leases (note 31) 5.5 5.5 – 36 20
1,554 1,646
(a) The par value has been reduced from £325m in 2006 to £258m in 2007 by a buyback of part of the MTN.
75
NOTES TO THE GROUP
FINANCIAL STATEMENTS