National Grid 2010 Annual Report Download - page 63

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National Grid Gas plc Annual Report and Accounts 2009/10 61
25. Related party transactions
Parent Other related parties Total
2010 2009 2010 2009 2010 2009
£m £m £m £m £m £m
Income:
Goods and services supplied --21 19 21 19
Expenditure:
Services received --35 76 35 76
Corporate services received --16 21 16 21
Charges in respect of pensions costs --78 238 78 238
Charges in respect of share-based payments --7676
Interest received on borrowings from fellow subsidiaries ---(3) -(3)
Interest paid on borrowings from fellow subsidiaries -210 18 10 20
-2146 356 146 358
Outstanding balances at 31 March in respect of income, expenditure
and settlement of corporation tax:
A
mounts receivable --22 179 22 179
A
mounts payable --125 209 125 209
A
dvances to fellow subsidiaries (due within one year):
A
t 1 April 19 19 --19 19
A
dvances ------
A
t 31 March 19 19 --19 19
A
dvances to parent (due after more than one year):
A
t 1 April and 31 March 5,611 5,611 --5,611 5,611
Borrowings payable to fellow subsidiaries (amounts due within one year):
A
t 1 April -186 239 361 239 547
A
dvances ---197 -197
Repayments -(186) (165) (319) (165) (505)
A
t 31 March --74 239 74 239
Borrowings payable to fellow subsidiaries (amounts due after more than one year):
A
t 1 April --250 -250 -
A
dvances ---250 -250
A
t 31 March --250 250 250 250
Details of guarantees provided in respect of related parties are provided in note 24.
No amounts have been provided at 31 March 2010 (2009: £nil) and no expense has been recognised during the year (2009: £nil) in respect of
bad or doubtful debts for related party transactions.
Amounts receivable from or payable to related parties in respect of sales and expenditure are ordinarily settled one month in arrears. The
advance to the parent due after more than one year is not interest bearing. Other advances to and borrowings from fellow subsidiaries are
repayable on demand and bear interest at commercial rates.
The following information is provided in accordance with IAS 24, Related party disclosures, as being material transactions with related parties
during the year. These transactions are with fellow subsidiaries of National Grid and a pension plan, in the normal course of business and are
summarised below.
Details of key management compensation are provided in note 3(c).