Notes to the company financial statements
Year ended 31 July 2009

13. Bank loans and overdrafts

Creditors: amounts falling due within one year	2009 £m	2008 £m
Bank overdrafts	188	308

The fair values of overdrafts and loans falling due within one year approximate to book value due to their short maturities.

The currency analysis of bank loans and overdrafts is as follows:

	2009 £m	2008 £m
Sterling	71	–
US dollar	11	101
Euro	59	147
Other	47	60
	188	308

Creditors: amounts falling due after one year	2009 £m	2008 £m
Bank loans	268	664
The loans falling due after one year are repayable as follows:
Due in two to five years	268	664
	268	664

The fair values of loans falling due after one year approximate to book value due to being at floating rates. At 31 July 2009, no loans carried a fixed interest rate (2008: £nil). Interest payments on floating rate loans are determined by reference to short-term benchmark rates applicable to the relevant currency or market, such as LIBOR.

The currency analysis of loans falling due after one year is as follows:

	2009 £m	2008 £m
Sterling	–	–
US dollar	268	402
Euro	–	234
Other	–	28
	268	664

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