Year ended 31 July 2006
35. Reconciliation of opening to closing net debt
| For the year ended 31 July 2006 | At
1 August £m |
Cash
flows £m |
Acquisitions
£m |
New
finance leases £m |
Fair value
adjustments £m |
Exchange
movement £m |
At 31 July
£m |
|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | 381 | 52 | - | - | - | (17) | 416 |
| Bank overdrafts | (437) | 304 | - | - | - | 9 | (124) |
| (56) | 356 | - | - | - | (8) | 292 | |
| Financial assets: trading investments | 5 | - | - | - | - | (1) | 4 |
| Derivative financial instruments | (11) | 4 | - | - | (13) | 1 | (19) |
| Bank loans | (1,047) | (1,085) | (74) | - | 26 | 28 | (2,152) |
| Obligations under finance leases | (62) | 17 | (2) | (30) | - | 2 | (75) |
| (1,171) | (708) | (76) | (30) | 13 | 22 | (1,950) |
| For the year ended 31 July 2005 | At 1 August
£m |
Cash
flows £m |
Acquisitions
£m |
New
finance leases £m |
Fair value
adjustments £m |
Exchange
movement £m |
At 31 July
£m |
|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | 291 | 66 | - | - | - | 24 | 381 |
| Bank overdrafts | (379) | (8) | - | - | - | (50) | (437) |
| (88) | 58 | - | - | - | (26) | (56) | |
| Financial assets: trading investments | 6 | (1) | - | - | - | - | 5 |
| Derivative financial instruments | (1) | - | - | - | (10) | - | (11) |
| Bank loans | (835) | (176) | (1) | - | - | (35) | (1,047) |
| Obligations under finance leases | (52) | 5 | - | (13) | - | (2) | (62) |
| (970) | (114) | (1) | (13) | (10) | (63) | (1,171) |
