Barclays 2010 Annual Report Download - page 250

Notes to the financial statements
For the year ended 31st December 2010 continued
40 Related party transactions and Directors’ remuneration continued
The Group provides banking services to Directors and other Key Management Personnel and persons connected to them. Transactions during the year
and the balances outstanding at 31st December 2010 were as follows:
Directors, other Key Management Personnel and connected persons
2010
£m
2009
£m
2008
£m
Loans outstanding at 1st January 6.6 7.3 7.4
Loans issued during the year 0.5 1.9 6.9
Loan repayments during the year (2.1) (1.6) (5.5)
Loans outstanding at 31st December 5.0 7.6 8.8
Interest income earned – 0.1 0.4
No allowances for impairment were recognised in respect of loans to Directors or other members of Key Management Personnel (or any connected
person) in 2010, 2009 or 2008.
2010
£m
2009
£m
2008
£m
Deposits outstanding at 1st January 30.3 28.7 8.9
Deposits received during the year 104.9 160.0 235.7
Deposits repaid during the year (99.3) (158.0) (221.9)
Deposits outstanding at 31st December 35.9 30.7 22.7
Interest expense on deposits –0.1 0.5
Of the loans outstanding above, £0.5m (2009: £0.1m, 2008: £1.6m) relates to Directors and other Key Management Personnel (and persons connected
to them), who left the Group during the year. Of the deposits outstanding above, £0.2m (2009: £3.7m, 2008: £6.1m) related to Directors and other
Key Management Personnel (and persons connected to them), who left the Group during the year. The amounts disclosed as at 1st January includes
deposits outstanding for those who became Directors or Key Management Personnel during the year.
All loans to Directors and other Key Management Personnel (and persons connected to them), (a) were made in the ordinary course of business,
(b) were made on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions
with other persons and (c) did not involve more than a normal risk of collectability or present other unfavourable features.
In 2009, a loan of £692 provided on an interest free basis was granted to one non-Director member of Barclays Key Management to purchase a commuter
rail ticket. The maximum loan outstanding during 2009 was £692. Commuter rail ticket loans are provided to all Barclays staff members upon request on
the same terms. No loans provided on an interest free basis were granted to any member of Barclays Key Management in 2010.
Remuneration of Directors and other Key Management Personnel
Remuneration of Directors, other Key Management Personnel and connected persons
2010
£m
2009
£m
2008
£m
Salaries and other short-term benefits 28.1 8.6 10.7
Employer social security charges on emoluments 12.4 2.9 2.7
Pension costs 1.0 0.7 0.9
Other long-term benefits 41.9 2.5 1.6
Share-based payments 39.3 15.8 11.8
Costs recognised for accounting purposes 122.7 30.5 27.7
Employer social security charges on emoluments (12.4) (2.9) (2.7)
Other long-term benefits – difference between awards granted and costs recognised (9.3) 15.2 0.4
Share-based payments – difference between awards granted and costs recognised (20.8) 32.7 (8.5)
Total remuneration awarded 80.2 75.5 16.9
The population of Directors and other Key Management Personnel increased as a result of the formation of the Executive Committee in November 2009.
Figures are provided for the period that individuals met the definition of Directors and other Key Management Personnel.
Total remuneration awarded to Directors and other Key Management Personnel represents the awards made to individuals that have been approved by
the Board Remuneration Committee as part of the latest payround decisions and is consistent with the approach adopted for disclosures set out on pages
166 to 182. Costs recognised in the income statement reflect the accounting charge for the year included within operating expenses. The difference
between the values awarded and the recognised income statement charge principally relates to the recognition of deferred costs for prior year awards.
248 Barclays PLC Annual Report 2010 www.barclays.com/annualreport10