NOTES TO THE FINANCIAL STATEMENTS CONTINUED

30. NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT CONTINUED At 1 April 1998 Cash Flow Other non-cash changes Exchange movement At 31 March 1999
(H) ANALYSIS OF NET (DEBT)/CASH £m £m £m £m £m
Cash in hand and at bank (including overnight deposits) 65.1 59.1 124.2
Overdrafts (6.9) (71.0) (77.9)
11.9
Debt due after one year (479.0) (17.8) (496.8)
Debt due within one year (40.2) (1,284.9) (14.1) (1,339.2)
Finance leases (70.7) 38.9 (10.4) (42.2)
(1,246.0)
Liquid resources:
Term deposits 787.4 (658.0) 129.4
Current asset investments including certificates of deposit 29.2 5.7 (2.2) 32.7
(652.3)
Total 284.9 (1,910.2) (10.4) (34.1) (1,669.8)

(I) MAJOR NON-CASH TRANSACTIONS
During the year the Group entered into finance lease arrangements in respect of assets with a total capital value at inception of the lease of £10.4 million (1998 £6.5 million).
1999 1998
(J) PURCHASE OF SUBSIDIARY UNDERTAKINGS £m £m
NET ASSETS ACQUIRED:
Fixed assets 177.2 74.7
Current assets

Stocks

 245.5 4.4

Debtors

 97.5 110.9

Deferred tax recoverable

 3.0

Bank balances and cash

 155.0 3.6
Creditors (368.5) (189.4)
Provisions for deferred and other liabilities and charges (3.3)
303.4 7.2
Goodwill 1,576.1 779.7
1,879.5 786.9

SATISFIED BY:
Cash 1,854.4 241.4
Acquisition expenses 20.0 7.8
Consideration in respect of Metromail Corporation (paid in April 1998) 511.4
Deferred consideration 5.1 26.3
1,879.5 786.9
In the period between its acquisition and 31 March 1999, Argos contributed £77.7m to the Group's net operating cash flows, received £12.4m in respect of interest, paid £29.7m in respect of taxation and utilised £27.2m for capital expenditure. Other subsidiary undertakings acquired during the year had no material impact on the cash flows of the Group.
(K) SALE OF BUSINESS
The receipt of £76.2m in the year to 31 March 1998 was in connection with the sale of Superior Acceptance Corporation Limited.
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