Download full Annual Report and Accounts - Kingfisher
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Kingfi sher plc<br />
<strong>Annual</strong> <strong>Report</strong><br />
<strong>and</strong> <strong>Accounts</strong><br />
2009/10<br />
79<br />
Aggregate amounts relating to joint ventures <strong>and</strong> associates:<br />
2009/10 2008/09<br />
Joint Joint<br />
£ millions ventures Associates Total ventures Associates Total<br />
Non-current assets 26 240 266 24 243 267<br />
Current assets 52 283 335 40 289 329<br />
Current liabilities (42) (176) (218) (38) (195) (233)<br />
Non-current liabilities (9) (140) (149) (6) (138) (144)<br />
Share of net assets 27 207 234 20 199 219<br />
Sales 132 562 694 113 504 617<br />
Operating expenses (122) (529) (651) (105) (510) (615)<br />
Operating profi t/(loss) 10 33 43 8 (6) 2<br />
Net fi nance costs (2) (8) (10) (3) (6) (9)<br />
Profi t/(loss) before taxation 8 25 33 5 (12) (7)<br />
Income tax expense (1) (6) (7) (1) (6) (7)<br />
Share of post-tax results 7 19 26 4 (18) (14)<br />
18 Inventories<br />
£ millions 2009/10 2008/09<br />
Finished goods for resale 1,545 1,792<br />
The cost of inventories recognised as an expense <strong>and</strong> included in cost of sales for the year ended 30 January 2010 is £6,293m (2008/09: £6,226m).<br />
19 Trade <strong>and</strong> other receivables<br />
£ millions 2009/10 2008/09<br />
Non-current<br />
Prepayments 18 15<br />
Property receivables 2 –<br />
Other receivables 2 2<br />
22 17<br />
Current<br />
Trade receivables 69 60<br />
Provision for bad <strong>and</strong> doubtful debts (15) (9)<br />
Net trade receivables 54 51<br />
Property receivables 2 –<br />
Prepayments 124 158<br />
Other receivables 314 299<br />
494 508<br />
Trade <strong>and</strong> other receivables 516 525<br />
Other receivables principally comprise rebates due from suppliers.<br />
The fair values of trade <strong>and</strong> other receivables approximate to their carrying amounts. Refer to note 24 for information on the credit risk associated with trade <strong>and</strong><br />
other receivables.<br />
20 Cash <strong>and</strong> cash equivalents<br />
£ millions 2009/10 2008/09<br />
Cash at bank <strong>and</strong> in h<strong>and</strong> 222 234<br />
Short term deposits 1,038 923<br />
1,260 1,157<br />
Short term deposits comprise bank deposits <strong>and</strong> investments in money market funds, fi xed for periods of up to three months. The fair values of cash <strong>and</strong> cash<br />
equivalents approximate to their carrying amounts.
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