HOME

Full Financial Report


BRITISH TELECOMMUNICATIONS PUBLIC LIMITED COMPANY


Statutory Information
 
Previous Name(s): None
 
Registered Number: 01800000
 
Registered Office: 81 NEWGATE STREET Date of Incorporation: 01/04/1984
LONDON Latest Filed Accounts Date: 31/03/2002
EC1A 7AJ Date Accounts Lodged: 15/07/2002
  Latest Annual Return: 09/08/2002
  Issued Capital (£): 2,172,438,976
  Accounts Reference Date: 31/03/2002
  Date of Analysed Accounts: 31/03/2002
 
Company is: Large
Public limited with share capital
English/Welsh companies incorporated under part 1 of the Companies Act
Type of Accounts: Group
 
Directory Information
 
Trading Address: - Telephone Number: -
  Fax Number: -
 
 
 
 
 
Region: CENTRAL LONDON
Bankers:  
Auditors: PricewaterhouseCoopers
Audit Qualification: The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/03/2002.
Principal Activities: A group engaged in the supply of communication services and equipment.
 
UK SIC Code(s):
64200 Telecommunications
 
Risk Information
 

Risk Score

2002 57 Credit Limit (£): 1,760,000,000
2001 36 Contract Limit (£): 2,140,000,000
2000 59
1999 57
The risk score has been designed to predict the likelihood of a company becoming insolvent within the year. The latest score is 57 and this indicates a risk level for the next year half the average rate of 2%. We would expect 55.54% of companies to be at and above this score. The credit limit is £1,760,000,000, which is a reflection of the score and the substantial financial strength of the company.
 
County Court Judgments: There are 31 exact unsatisfied CCJs totalling £64415.00, 5 probable unsatisfied CCJs totalling £3370.00, and 1 possible unsatisfied CCJ for £2569.00.
Latest Ten Judgments:
On 23/09/2002, a Judgment of £4195.00 was made in TORQUAY & NEWTON ABBOT court (Case No. TQ203456) against BRITISH TELECOMMUNICATIONS PLC of BT UK BUSINESS ACCOUNTS, TUTE 5TH AVENUE BUSINESS PARK, GATESHEAD, NE82 6XX, Ref. No. 2509201324. (Exact)
On 24/07/2002, a Judgment of £933.00 was made in CENTRAL LONDON court (Case No. CL262932) against BRITISH TELECOMMUNICATIONS PLC of BUSH INDUSTRIAL ESTATE, UNIT D, STATION ROAD, LONDON, N19 5UW, Ref. No. 0508203381. (Exact)
On 08/07/2002, a Judgment of £3094.00 was made in CENTRAL LONDON court (Case No. CL262766) against BRITISH TELECOMMUNICATIONS PLC of ACCOUNTY PAYABLE CENTRE, TELECOMS HOUSE, 91 LONDON ROAD, M60 1HQ, Ref. No. 1007201050. (Exact)
On 14/05/2002, a Judgment of £495.00 was made in HUDDERSFIELD court (Case No. JF295437) against BRITISH TELECOMMUNICATIONS PLC of FINANCIAL SERVICES UNIT, PO BOX 88, MUNICIPAL BUILDING, DALE STREET, LIVERPOOL, L69 2DH, Ref. No. 1705201460. (Exact)
On 14/05/2002, a Judgment of £1603.00 was made in MANCHESTER court (Case No. MA208501) against BRITISH TELECOM PLC of JEFFERSON HOUSE, 4-8 MAPLE STREET, LONDON, WP1 5AG, Ref. No. 2405201172. (Probable)
On 15/04/2002, a Judgment of £325.00 was made in HARLOW court (Case No. HA020342) against BRITISH TELECOMMUNICATION PLC of GMT FLEET MANAGEMENT, 11 TRINITY PARK, BIRMINGHAM, B37 7EH, Ref. No. 1804201645. (Probable)
On 05/03/2002, a Judgment of £570.00 was made in TORQUAY & NEWTON ABBOT court (Case No. TQ101593) against BRITISH TELECOMMUNICATIONS PLC of GROUP LEGAL SERVICES, PP B4HX, BT CENTRE, 81 NEWGATE STREET, LONDON, EC1A 7AJ, Ref. No. 1503201424. (Exact)
On 04/03/2002, a Judgment of £13215.00 was made in BRISTOL court (Case No. BS200086) against BRITISH TELECOMMUNICATIONS PLC of 81 NEWGATE STREET, LONDON, EC1A 7AJ, Ref. No. 0703201049. (Exact)
On 18/01/2002, a Judgment of £352.00 was made in WORCESTER court (Case No. WR103895) against BRITISH TELECOMMUNICATIONS PLC of PO BOX 163, EXETER, DEVON, EX1 1BX, Ref. No. 2401201567. (Exact)
On 22/10/2001, a Judgment of £1443.00 was made in BASINGSTOKE court (Case No. JK125419) against BRITISH TELECOM PLC of TENTER HOUSE, 2ND FLOOR, 45 MOORFIELDS, LONDON, EC2Y 9TH, Ref. No. 2510100912. On 15/01/2002 this Judgment was satisfied. (Probable)
 
Ownership
 

Group Structure

Holding Company:  
Ultimate Holding Company: 04190816 BT GROUP PLC
 

All Live Subsidiaries on Database by Turnover

None
 
Profit & Loss Account
 
   Date of Accounts 31/03/2002 31/03/2001 31/03/2000 31/03/1999 31/03/1998
   Consolidated Yes Yes Yes Yes Yes
   Subsidiary Yes No No No No
   No. of Weeks 52 52 52 52 52
   Currency (£ '000) (£ '000) (£ '000) (£ '000) (£ '000)
 
   Audit Qualification No No No No No
 
1  Turnover 24,642,000 29,666,000 18,715,000 16,953,000 15,640,000
   Cost of Sales - - - - -
   Gross Profit - - - - -
2  Operating Profit 2,931,000 3,531,000 3,813,000 3,816,000 3,720,000
   Non Trading Income (583,000) (3,136,000) (383,000) 899,000 (92,000)
   Interest Payable 1,879,000 1,426,000 488,000 420,000 414,000
   Pre-tax Profit 469,000 (1,031,000) 2,942,000 4,295,000 3,214,000
   Taxation 443,000 712,000 897,000 1,293,000 1,487,000
   Profit After Tax 26,000 (1,743,000) 2,045,000 3,002,000 1,727,000
   Dividends Payable 218,000 571,000 1,426,000 1,322,000 1,216,000
   Retained Profit (215,000) (2,441,000) 629,000 1,661,000 486,000
 
   Value Added 11,064,536 10,941,216 10,709,416 10,113,064 9,747,160
 
Balance Sheet
 
   Date of Accounts 31/03/2002 31/03/2001 31/03/2000 31/03/1999 31/03/1998
   Consolidated Yes Yes Yes Yes Yes
   Subsidiary Yes No No No No
   No. of Weeks 52 52 52 52 52
   Currency (£ '000) (£ '000) (£ '000) (£ '000) (£ '000)
 
3  Tangible Fixed Assets 17,299,000 26,829,000 24,041,000 19,686,000 19,241,000
   Intangible Assets 252,000 18,380,000 5,777,000 742,000 0
   Total Fixed Assets 17,551,000 45,209,000 29,818,000 20,428,000 19,241,000
 
   Stocks 111,000 361,000 225,000 159,000 145,000
   Trade Debtors 2,393,000 3,379,000 2,487,000 2,190,000 1,801,000
   Cash 158,000 412,000 253,000 102,000 62,000
4  Miscellaneous Current Assets 25,947,000 5,438,000 4,805,000 5,083,000 2,220,000
   Total Current Assets 28,609,000 9,590,000 7,770,000 7,534,000 4,228,000
 
5  Creditors: Amounts falling due within one year 9,392,000 20,733,000 14,885,000 8,029,000 6,962,000
 
   Total Assets less Current Liabilities 36,768,000 34,066,000 22,703,000 19,933,000 16,507,000
 
6  Total Long Term Liabilities 18,641,000 22,012,000 6,908,000 4,993,000 5,722,000
 
   Total Liabilities 28,033,000 42,745,000 21,793,000 13,022,000 12,684,000
 
7  Share Capital & Reserves 11,030,000 4,725,000 4,140,000 3,597,000 3,271,000
   P & L Account Reserve 7,097,000 7,329,000 11,655,000 11,343,000 7,514,000
   Revaluation Reserve 0 0 0 0 0
   Shareholders' Funds 18,127,000 12,054,000 15,795,000 14,940,000 10,785,000
   Capital Employed 36,768,000 34,066,000 22,703,000 19,933,000 16,507,000
 
   Net Worth 17,875,000 (6,326,000) 10,018,000 14,198,000 10,785,000
   Working Capital 19,217,000 (11,143,000) (7,115,000) (495,000) (2,734,000)
 
   Contingent Liabilities - - - - -
 
Cash Flow
 
   Date of Accounts 31/03/2002 31/03/2001 31/03/2000 31/03/1999 31/03/1998
   Consolidated Yes Yes Yes Yes Yes
   Subsidiary Yes No No No No
   No. of Weeks 52 52 52 52 52
   Currency (£ '000) (£ '000) (£ '000) (£ '000) (£ '000)
 
   Net Cashflow from Operating Activities 5,257,000 5,887,000 5,849,000 6,035,000 6,076,000
   Net Cashflow from Return on Investment and Servicing of Finance (1,704,000) (2,149,000) (1,522,000) (1,512,000) (3,633,000)
   Net Cashflow before Financing 5,560,000 (19,607,000) (5,905,000) 525,000 (1,805,000)
   Net Cashflow from Financing (5,470,000) 19,735,000 5,959,000 (458,000) 1,794,000
   Increase in Cash 90,000 128,000 54,000 67,000 (11,000)
 
Accounts Notes
 
   Date of Accounts 31/03/2002 31/03/2001 31/03/2000 31/03/1999 31/03/1998
   Consolidated Yes Yes Yes Yes Yes
   Subsidiary Yes No No No No
   No. of Weeks 52 52 52 52 52
   Currency (£ '000) (£ '000) (£ '000) (£ '000) (£ '000)
 
1  Exports - - - - -
 
2  Operating Profit is after charging the following
   Employees' Remuneration 4,034,000 3,954,000 3,754,000 3,366,000 3,290,000
   Directors' Remuneration 5,804 5,717 4,694 6,350 3,963
   Audit Fees 1,605 2,100 2,063 1,821 1,726
   Non Audit Fees 25,223 19,248 12,745 8,855 4,724
   Depreciation 3,680,000 3,045,000 2,752,000 2,581,000 2,395,000
 
   Average Number of Employees (actual) 124,800 133,400 132,100 124,900 124,700
 
3  Tangible Assets consist of:
   Fixed Assets 16,078,000 21,625,000 18,163,000 17,854,000 17,252,000
   Intermediate Assets 1,221,000 5,204,000 5,878,000 1,832,000 1,989,000
   which includes:
   -Due from Group, Non Current 22,000 744,000 1,073,000 247,000 181,000
 
4  Miscellaneous Current Assets includes:
   -Due from Group, Current 19,072,000 537,000 608,000 130,000 118,000
5  Creditors: Amounts falling due within one year consists of:
   Trade Creditors 2,396,000 3,287,000 2,416,000 2,344,000 1,971,000
a  Bank Overdraft 16,000 148,000 138,000 26,000 42,000
   Miscellaneous Current Liabilities includes: 6,980,000 17,298,000 12,331,000 5,659,000 4,949,000
b  -Bank Loans - Current Portion 0 893,000 99,000 0 0
c  -Other Short Term Finance, including: 2,710,000 11,599,000 7,327,000 923,000 878,000
     -Due to Group, Current 531,000 504,000 747,000 2,000 39,000
     -Due to Directors, Current 0 0 0 0 0
  -Other Current Liabilities 4,270,000 4,806,000 4,905,000 4,736,000 4,071,000
 
   Short Term Loans (a+b+c) 2,726,000 12,640,000 7,564,000 949,000 920,000
 
6  Total Long Term Liabilities consists of:
   Long Term Loans, which consists of: 16,245,000 18,775,000 5,354,000 3,386,000 3,889,000
   -Long Term Bank Loans 659,000 637,000 827,000 0 792,000
   -Other Long Term Finance, including: 15,586,000 18,138,000 4,527,000 3,386,000 3,097,000
     -Due to Group, Non Current 0 0 0 0 0
     -Due to Directors, Non Current 0 0 0 0 0
   Other Long Term Liabilities 2,396,000 3,237,000 1,554,000 1,607,000 1,833,000
 
7  Share Capital and Reserves consists of:
   Called Up Share Capital 2,170,000 1,646,000 1,627,000 1,617,000 1,603,000
   Sundry Reserves 8,860,000 3,079,000 2,513,000 1,980,000 1,668,000
 
Ratios
 
Date of Accounts 31/03/2002 31/03/2001 31/03/2000 31/03/1999 31/03/1998
Profit/Sales (%) 1.90 -3.48 15.72 25.33 20.55
Profit/Capital Employed (%) 1.28 -3.03 12.96 21.55 19.47
Profit/Total Assets (%) 1.02 -1.88 7.83 15.36 13.69
Profit/Shareholders' Funds (%) 2.59 -8.55 18.63 28.75 29.80
 
Sales/Total Assets (%) 53.38 54.14 49.79 60.63 66.64
Sales/Fixed Assets 1.53 1.37 1.03 0.95 0.91
Sales/Capital Employed 0.67 0.87 0.82 0.85 0.95
Working Capital/Sales (%) 77.98 -37.56 -38.02 -2.92 -17.48
 
Stock Turnover 222.00 82.18 83.18 106.62 107.86
Credit Period (days) 35.45 41.57 48.50 47.15 42.03
Creditor Days (days) 35.49 40.44 47.12 50.47 46.00
Debtors/Total Assets (%) 5.18 6.17 6.62 7.83 7.67
 
Current Ratio 3.05 0.46 0.52 0.94 0.61
Liquidity Ratio 3.03 0.45 0.51 0.92 0.59
Creditors/Debtors 1.00 0.97 0.97 1.07 1.09
Current Liabilities/Stocks 84.61 57.43 66.16 50.50 48.01
 
Interest/Pre-Interest Profit (%) 80.03 361.01 14.23 8.91 11.41
Total Debt/Net Worth (%) 106.13 - 128.95 30.53 44.59
Bank Overdraft & Long Term Liabilities/Net Worth 104.37 - 70.33 35.35 53.44
Long Term Debt/Net Worth (%) 90.88 - 53.44 23.85 36.06
Long Term Liabilities/Net Worth 1.04 - 0.69 0.35 0.53
Shareholders' Funds/Total Liabilities (%) 64.66 28.20 72.48 114.73 85.03
Shareholders' Funds/Total Assets 0.39 0.22 0.42 0.53 0.46
 
Bank Overdraft & Long Term Liabilities/Working Capital (%) 0.97 -1.99 -0.99 -10.14 -2.11
Total Debt/Working Capital 0.99 -2.82 -1.82 -8.76 -1.76
 
Average Employee Remuneration (£ '000) 32,324 29,640 28,418 26,950 26,383
Wages/Sales (%) 16.37 13.33 20.06 19.85 21.04
Profit per Employee (£ '000) 3,758 -7,729 22,271 34,388 25,774
Sales per Employee (£ '000) 197,452 222,384 141,673 135,733 125,421
Capital Employed per Employee (£ '000) 294,615 255,367 171,862 159,592 132,374
Total Fixed Assets per Employee (£ '000) 140,633 338,898 225,723 163,555 154,298
Total Assets per Employee (£ '000) 369,872 410,787 284,542 223,875 188,204
 
Profit/Value Added (%) 4.24 -9.42 27.47 42.47 32.97
Value Added/Sales(%) 44.90 36.88 57.22 59.65 62.32
Value Added per Employee (£ '000) 88,658 82,018 81,071 80,969 78,165
Value Added/Employee Remuneration (%) 2.74 2.77 2.85 3.00 2.96
 
Exports/Sales (%) - - - - -
Sales/Audit Fees 15,353.27 14,126.67 9,071.74 9,309.72 9,061.41
Total Assets/Audit Fees 28,760.12 26,094.76 18,220.07 15,355.30 13,597.33
 
Growth Rates
 
1 year 2 year 3 year 4 year
Sales -17 32 45 58
Pre-tax Profit - -84 -89 -85
Audit Fees -24 -22 -12 -7
 
Directors' Remuneration 2 24 -9 47
Number of Employees -6 -6 -0 0
Employees' Remuneration 2 8 20 23
 
Tangible Assets -36 -28 -12 -10
Stocks -69 -51 -30 -23
Trade Debtors -29 -4 9 33
Total Current Assets 198 268 280 577
Total Assets -16 23 65 97
 
Trade Creditors -27 -1 2 22
Short Term Loans -78 -64 187 196
Total Current Liabilities -55 -37 17 35
Shareholders' Funds 50 15 21 68
Long Term Loans -14 203 380 318
Long Term Liabilities -15 170 273 226
Capital Employed 8 62 85 123
 
Company/Industry Comparison
 
This comparison is based on the results of 3422 companies in the same industrial sector: 64200 Telecommunications
 

Company

Industry Averages

31/03/2002 Lower Median Upper

Performance

Profit/Sales (%) 1.90 -4.6 5.6 33.3
Profit/Capital Employed (%) 1.28 0.0 50.0 157.1
Profit/Total Assets (%) 1.02 -11.8 8.7 60.9
Profit/Shareholders' Funds (%) 2.59 0.0 75.0 188.4
 

Turnover

Sales/Total Assets (%) 53.38 86.2 202.8 395.4
Sales/Fixed Assets (%) 1.53 1.9 8.4 25.1
Working Capital/Sales (%) 77.98 16.2 1.1 -8.0
Stock Turnover 222.00 10.7 26.9 76.6
Credit Period (days) 35.45 63.5 28.7 0.0
Creditor Days (days) 35.49 47.2 11.3 0.0
 

Liquidity

Current Ratio 3.05 0.7 1.0 1.7
Liquidity Ratio 3.03 0.6 1.0 1.6
 

Gearing

Total Debt/Net Worth (%) 106.13 206.2 40.9 2.1
Shareholders' Funds/Total Assets 0.39 0.1 0.3 0.6
Long Term Debt/Net Worth (%) 90.88 24.0 0.0 0.0
Interest/Pre-Interest Profit (%) 80.03 12.5 1.5 0.0
Total Debt/Working Capital 0.99 1.9 0.3 0.0
 

Employee

Average Employee Remuneration (£ '000) 32,324 14,200 25,650 37,510
Wages/Sales (%) 16.37 44.8 24.1 11.6
Profit per Employee (£ '000) 3,758 -37,000 0 11,000
Sales per Employee (£ '000) 197,452 29,238 79,333 196,770
Capital Employed per Employee (£ '000) 294,615 0 0 0
Total Fixed Assets per Employee (£ '000) 140,633 2,000 10,574 50,222
Total Assets per Employee (£ '000) 369,872 20,000 61,509 189,762
 

Other

Creditors/Debtors 1.00 0.5 1.2 2.6
Debtors/Total Assets (%) 5.18 0.0 21.1 49.4
Current Liabilities/Stocks 84.61 3.0 7.0 18.2
Exports/Sales (%) - 0.0 0.0 0.7
Sales/Audit Fees 15,353.27 273.0 581.7 1,423.2
Total Assets/Audit Fees 28,760.12 178.3 430.5 1,163.3
 
Filing History
 
18/06/2002 Particulars of a mortgage or charge
23/05/2002 Change among the directors of a company
23/05/2002 Returns of allotments of a public company
15/05/2002 Particulars of a mortgage or charge
08/05/2002 Particulars of a mortgage or charge
27/12/2001 Particulars of a mortgage or charge
24/12/2001 Particulars of a mortgage or charge
21/12/2001 Particulars of a mortgage or charge
06/11/2001 Alteration in memorandum or articles of association
31/07/2001 Special resolutions passed under section 95 disapplication of pre-emption rights
21/07/1999 Resolutions which give, vary, revoke or renew an authority for the purposes of section 80 (allotment of securities)
03/10/1997 Notification (given under section 122) of the redemption of shares
06/01/1992 Memorandum of satisfaction
 
Directors
 

Company Secretary

STEPHEN JOHN PRIOR
 

Directors

IAN PAUL LIVINGSTON
LAURENCE WILLIAM STONE
BERNARDUS JOHANNES MARIA VERWAAYEN
 

Report Generated: Oct 29, 2002