John Lewis Partnership plc annual report and accounts 2013

Notes to the accounts continued

17 Borrowings and overdrafts (continued)

Company - 2013 £m - 2012 £m

Non-current:

5% Cumulative Preference Stock 3.7 3.7

7g% Cumulative Preference Stock 0.5 0.5

SIP Shares 84.7 70.2

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88.9 74.4

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All borrowings are unsecured, denominated in sterling, and are repayable on the dates shown, at par. 

Unless the preference dividends are in arrears, the 5% and 7g% Cumulative Preference  Stock only have voting rights in relation to a variation of their class rights. The amounts  receivable in a winding up would be limited to the amounts paid up, for the 5%  Cumulative Preference Stock, and to one and a half times the amounts paid up for the 7g% Cumulative Preference Stock.

SIP shares are issued as part of the BonusSave scheme. The SIP shares that are allocated to  Partners are entitled to a dividend, the amount of which is determined from year to year by  the Partnership Board. The amounts receivable in a winding up would be limited to the amounts that have been paid on the SIP shares.

18 Trade and other payables

Consolidated - 2013 £m - 2012 £m

Current:

Trade payables 698.1 530.1

Other payables 117.0 102.9

Other taxation and social security 174.0 143.1

Accruals 151.5 185.1

Deferred income 33.4 25.0

Partnership Bonus 190.0 148.6

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1,364.0 1,134.8

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Non-current:

Accruals – 0.9

Other payables 0.7 0.8

Deferred income 118.6 84.1

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119.3 85.8

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2013 2012

Company £m £m

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Current:

Other payables 2.0 1.8

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2.0 1.8

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The carrying amount of trade and other payables approximates to fair value.

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