John Lewis Partnership plc annual report and accounts 2013

16 Analysis of financial assets

The currency and interest rate exposures of the group’s financial assets are as set out below. Short-term receivables are excluded from this analysis, on the basis that they are all non- interest bearing and denominated in sterling.

 

Interest rate and currency analysis - 

Effective 

interest rate - 

Floating 

rate £m - 

Non 

interest

 bearing £m - 

Total £m

Sterling 0.5% 520.0 14.3 534.3

Other 0.0% 0.1 – 0.1

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At 26 January 2013 520.1 14.3 534.4

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Sterling 0.6% 537.0 13.5 550.5

Other 0.0% 0.3 – 0.3

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At 28 January 2012 537.3 13.5 550.8

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Floating rate assets are bank balances and short-term deposits at interest rates linked to LIBOR. Non-interest bearing balances include cash floats, primarily held in the stores.

 

17 Borrowings and overdrafts

Consolidated - 2013 £m - 2012 £m

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Current:

Bank overdraft 56.3 60.1

Loans – 100.0

6f% Bonds, 2012 – 142.0

10g% Bonds, 2014 100.0 –

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156.3 302.1

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Non-current:

10g% Bonds, 2014 – 100.0

Partnership Bond, 2016* 56.1 55.6

8f% Bonds, 2019 275.0 275.0

6a% Bonds, 2025 300.0 300.0

Unamortised bond transaction costs (5.7) (6.2)

5% Cumulative Preference Stock 3.7 3.7

7g% Cumulative Preference Stock 0.5 0.5

Cumulative Preference Stock of subsidiary undertakings 0.4 0.4

SIP Shares 84.7 70.2

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714.7 799.2

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* The Partnership Bond is a five year investment product offering a fixed annual return of 4.5% in cash and a further 2% in John Lewis Partnership gift vouchers.

 

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