Marks and Spencer 2011 Annual Report Download - page 108

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Marks and Spencer Group plc Annual report and financial statements 2011
106
Notes to the financial statements continued
30 Related party transactions continued
E. Key management compensation
2011
£m
2010
£m
Salaries and short-term benefits 12.0 9.6
Post-employment benefits 0.1 –
Termination benefits –0.2
Share-based payments 9.0 3.1
Total 21.1 12.9
Key management is comprised of Board directors only. Further information about the remuneration of individual directors is provided in
the Remuneration report. During the year, key management have purchased goods at the Group’s usual prices less a 20% discount.
This discount is available to all staff employed directly by the Group in the UK.
F. Other related party transactions
Supplier transactions occurred during the year between the Group and a company controlled by a close family member of Kate
Bostock, an executive director of the Group. These transactions amounted to £6.4m during the year (last year £7.2m) with an
outstanding trade payable of £0.1m at 2 April 2011 (last year £0.4m). The company was a supplier prior to Kate’s employment
by the Group.
Supplier transactions occurred during the year between the Group and a company controlled by Martha Lane Fox’s partner. Martha is a
non-executive director of the Group. These transactions amounted to £1.7m during the year (last year £1.7m) with an outstanding trade
payable of £0.8m at 2 April 2011 (last year £0.8m).