|
|
2003 |
|
2002 |
|
|
|
£m |
|
£m |
|
|
|
|
|
|
|
| Contracts
placed for capital expenditure not provided in the
accounts |
|
616 |
|
740 |
|
|
|
|
|
|
|
Operating
lease payments payable within one year of the balance
sheet date were in
respect of leases expiring: |
|
|
|
|
|
| Within
one year |
|
11 |
|
13 |
|
| Between
one and five years |
|
26 |
|
11 |
|
| After
five years |
|
317 |
|
314 |
|
|
|
|
|
|
|
| Total
payable within one year |
|
354 |
|
338 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Future
minimum operating lease payments for the group at
31 March 2003 were as follows: |
|
|
|
2003 |
|
|
|
|
|
£m |
|
|
|
|
|
|
|
| Payable
in the year ending 31 March: |
|
|
|
|
|
| 2003 |
|
|
|
354 |
|
| 2004 |
|
|
|
347 |
|
| 2005 |
|
|
|
351 |
|
| 2006 |
|
|
|
354 |
|
| 2007 |
|
|
|
357 |
|
| Thereafter |
|
|
|
9,597 |
|
|
|
|
|
|
|
| Total
future minimum operating lease payments |
|
|
|
11,360 |
|
|
|
|
|
|
|
Operating
lease commitments were mainly in respect of leases of
land and buildings.
At
31 March 2003, other than disclosed below there were
no contingent liabilities or guarantees other than those
arising in the ordinary course of the group’s business
and on these no material losses are anticipated. The
group has insurance cover to certain limits for major
risks on property and major claims in connection with
legal liabilities arising in the course of its operations.
Otherwise, the group generally carries its own risks.
The
group has provided guarantees relating to certain leases
entered into by 02 UK Limited prior to its demerger
with mmO2 on 19 November 2001, amounting to US$96 million
(£61 million) as at 31 March 2003. mmO2 plc has
given BT a counterindemnity for these guarantees.
The
company does not believe there are any pending legal
proceedings which would have a material adverse effect
on the financial position or results of operations of
the group.
Proceedings
have been initiated in Italy against 21 defendants,
including a former BT employee, in connection with the
Italian UMTS auction. Blu, in which BT held a minority
interest, participated in that auction process. The
first hearing has been scheduled for 11 July 2003, in
Rome. If the proceedings are successful, BT could be
held liable, with others, for any damages. The company
has concluded that it is not appropriate to make a provision
in respect of any such potential claim.
|
