Tesco plc Annual Report and Financial Statements 2009

Introduction
Financial highlights 2
Chairman’s statement 3
Tesco at a glance 4
Chief Executive’s Q&A 5
Report of the Directors 6
Business Review 6
Long-term strategy 6
Markets served and business model 7
International 8
Core UK 12
Non-food 16
Retailing Services 20
Community 24
People 28
Resources and relationships 30
Group performance 32
Key Performance Indicators 36
Risks and uncertainties 38
Financial review 40
General information 41
Our Board of Directors 42
Corporate governance 44
Directors’ remuneration report 50
Financial statements 65
Statement of Directors’ responsibilities 66
Independent auditors’ report to the
members of Tesco PLC 67
Group income statement 68
Group statement of recognised income and expense 69
Group balance sheet 70
Group cash flow statement 71
Reconciliation of net cash flow to movement in
net debt note 71
Notes to the Group financial statements 72
Five year record 124
Tesco PLC – Parent Company financial statements 126
Independent auditors’ report to the members
of Tesco PLC 136
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