Tesco 2015 Annual Report Download - page 135
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Non-trading transactions
Sale and
leaseback of assets
Loans to
related parties
Loans from
related parties
Injection of
equity funding
2015
£m
2014
£m
2015
£m
2014
£m
2015
£m
2014
£m
2015
£m
2014
£m
Joint ventures ––207 218 16 16 14 3
Associates –46 –37 ––10 7
Transactions between the Group and the Group’s pension plans are disclosed in Note 26.
A number of the Group’s subsidiaries are members of one or more partnerships to whom the provisions of the Partnerships (Accounts) Regulations 2008
(‘Regulations’) apply. The accounts for those partnerships have been consolidated into these accounts pursuant to Regulation 7 of the Regulations.
In the prior year, the Group completed one sale and leaseback transaction involving property assets in Thailand. On 24 January 2014, one trading mall was
sold to the Tesco Lotus Growth Fund, an associated entity of the Group, for a consideration of £46m. There were no sale and leaseback transactions in the
current year.
Transactions with key management personnel
Members of the Board of Directors and Executive Committee of Tesco PLC are deemed to be key management personnel.
Key management personnel compensation for the financial year was as follows:
2015
£m
2014
£m
Salaries and short-term benefits 14 16
Pensions 33
Share-based payments 42
Joining costs and loss of office costs 81
29 22
Of the total remuneration to key management personnel, £16m (2014: £16m) relates to Executive Committee members who are not on the PLC Board.
Of the key management personnel who had transactions with Tesco Bank during the financial year, the following are the balances at the year end:
Credit card and personal
loan balances
Current and saving deposit
accounts
Number of key
management
personnel £m
Number of key
management
personnel £m
At 28 February 2015 19 116 1
At 22 February 2014 12 – 4 –
Note 28 Related party transactions continued
133Tesco PLC Annual Report and Financial Statements 2015
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