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John Lewis Partnership plc annual report and accounts 2013
Notes to the accounts continued
25 Analysis of financial liabilities
The currency and interest rate exposure of the group’s financial liabilities is as set out below. Short-term payables are excluded from this analysis on the basis that they are all non-interest bearing.
Interest rate and currency analysis - Fixed rate £m - Floating rate £m - Total £m
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All sterling
At 26 January 2013 768.9 141.0 909.9 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– At 28 January 2012 756.0 372.3 1,128.3 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Maturity of financial liabilities - 2013 Effective interest rate - 2013 £m - 2012 Effective interest rate - 2012 £m
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Repayable within one year
Bank overdrafts 1.8% 56.3 1.8% 60.1
Property finance leases 7.6% 3.0 7.6% 0.6
Loans – – 1.5% 100.0
Bonds 10.5% 100.0 6.4% 142.0
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159.3 302.7
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Repayable between one and two years
Property finance leases 7.6% 3.3 7.6% 0.6
Bonds – – 10.5% 100.0
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3.3 100.6
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Repayable between two and five years
Property finance leases 7.6% 7.9 7.6% 2.1
Bonds 5.5% 56.1 5.5% 55.6
Unamortised bond transaction costs (0.4) (0.5)
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63.6 57.2
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Repayable in more than five years
Property finance leases 7.6% 24.7 7.6% 23.7
Bonds 7.2% 575.0 7.2% 575.0
Unamortised bond transaction costs (5.3) (5.7)
Preference stock 5.3% 4.2 5.3% 4.2
Preference stock of subsidiary undertaking 5.9% 0.4 5.9% 0.4
SIP shares 2.0% 84.7 2.5% 70.2
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683.7 667.8
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909.9 1,128.3
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