Annual Financial Report

 

TIDMBP47 TIDMBT.A 
 
RNS Number : 9077V 
BT Finance BV 
17 July 2009 
 

 
 
 
Friday 17 July 2009 
 
 
 
 
BT Finance B.V. 
Annual Financial Report for the year ended 31 March 2009 
 
 
The above document pertaining to BT Finance B.V., a wholly owned subsidiary of 
BT Group plc, with bonds listed on the London Stock Exchange, has been published 
today. Two copies of the document have been submitted to the UK Listing 
Authority, and will shortly be available for inspection at the UK Listing 
Authority's Document Viewing Facility, which is situated at: 
 
 
Financial Services Authority 
25 The North Colonnade 
Canary Wharf 
London 
E14 5HS 
Tel: [phone] 
 
 
 
 
The document is also available at the BT website at bt.com 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As required by the FSA's Disclosure and Transparency Rules,certain 
information contained in the BT Finance B.V Annual Financial Report for 2009 
(the Annual Report) is extracted and set out under 'Additional Information' in 
this announcement. 
 
 
 
 
Additional Information 
The following information is extracted from the BT Finance B.V. Annual Report: 
 
 
"Directors' statement 
 
 
The financial statements of BT Finance B.V. give a true and fair view of the 
Company's assets, liabilities, financial position as of March 31, 2009 and 
result of the year then ended. Furthermore the directors' report gives a true 
and fair review of the situation on March 31, 2009, the developments during the 
financial year at the Company and describes the principal risks which the 
Company faces. 
 
 
Review of business and future developments 
 
 
Total financial income excluding exchange differences for the year was GBP 
233,000 (year ended March 31, 2008: expenses of GBP 1,408,000) and the net 
profit for the year was GBP 172,000 (year ended March 31, 2008: loss of GBP 
1,426,000). 
 
 
The Company's principal activity is to raise funds for the purpose of financing 
certain operations of the BT Group plc group of companies and to make loans to 
other subsidiaries of the BT Group plc. The Company's listed securities will be 
redeemed during the year, at which point the nature of the Company's operations 
will revert to that of a BT Group investment company. 
 
 
Principal risks - Financial risk management 
 
 
The principal risks are the financial risks that the directors manage in line 
with BT Group plc (the ultimate controlling entity of the company) ("Group") 
policy. 
 
 
The Group policy is to ensure that at least 70% of net debt is at fixed interest 
rates. Short-term interest rate management is delegated to the Group centralised 
treasury operation, whilst long-term interest rate management decisions require 
further approval from the Group Finance Director, Director Group Financial 
Control and Treasury or the Group Treasurer. 
 
 
Short and medium-term funding are regularly reviewed and managed by BT Group 
plc's centralised treasury operation. The requirement for operating finance is 
met whenever possible from the Group central resources. " 
 
 
 
 
 
 
"2.3.19    Related party transactions (in GBP 1,000) 
 
 
During the year, the company entered into the following related party 
transactions: 
 
+--------------------------+---------------+----------------+------------------+ 
| Name of related parties  |     Nature of |         Amount |      Outstanding | 
|                          |  transactions |     transacted | balance at March | 
|                          |               |     during the |         31, 2009 | 
|                          |               |           year |                  | 
+--------------------------+---------------+----------------+------------------+ 
|                          |               |                |                  | 
+--------------------------+---------------+----------------+------------------+ 
|                          |               |                |                  | 
+--------------------------+---------------+----------------+------------------+ 
| British                  |          Loan |              - |          280,381 | 
| Telecommunications plc   |               |                |   (loan capital) | 
+--------------------------+---------------+----------------+------------------+ 
| British                  |      Interest |         25,638 |            7,856 | 
| Telecommunications plc   |        income |                |         (accrued | 
|                          |               |                |       interest)" | 
+--------------------------+---------------+----------------+------------------+ 
 
 
 
 
 
 
 
 
Ends 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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