Vodafone 2012 Annual Report Download - page 142
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140
Vodafone Group Plc
Annual Report 2012
Notes to the consolidated nancial statements (continued)
31. Related party transactions
The Group’s related parties are its joint ventures (see note 13), associates (see note 14), pension schemes, directors and Executive Committee
members. Group contributions to pension schemes are disclosed in note 23. Compensation paid to the Company’s Board and members of the
Executive Committee is disclosed in note 30.
Transactions with joint ventures and associates
Related party transactions with the Group’s joint ventures and associates primarily comprise fees for the use of products and services including
network airtime and access charges, and cash pooling arrangements.
No related party transactions have been entered into during the year which might reasonably affect any decisions made by the users of these
consolidated nancial statements except as disclosed below. Transactions between the Company and its joint ventures are not material to the
extentthat they have not been eliminated through proportionate consolidation or disclosed below.
2012 2011 2010
£m £m £m
Sales of goods and services to associates 195 327 281
Purchase of goods and services from associates 107 171 159
Purchase of goods and services from joint ventures 207 206 194
Net interest receivable from joint ventures1(7) (14) (44)
Trade balances owed:
by associates 15 52 24
to associates 18 23 17
by joint ventures 9 27 27
to joint ventures 89 67 40
Other balances owed by joint ventures1365 176 751
Note:
1 Amounts arise primarily through Vodafone Italy, Vodafone Hutchison Australia and Indus Towers and represent amounts not eliminated on consolidation. Interest is paid in line with market rates.
Amounts owed by and owed to associates are disclosed within notes 17 and 25. Dividends received from associates are disclosed in the consolidated
statement of cash ows.
Transactions with directors other than compensation
During the three years ended 31 March 2012, and as of 21 May 2012, neither any director nor any other executive ofcer, nor any associate of any
director or any other executive ofcer, was indebted to the Company.
During the three years ended 31 March 2012, and as of 21 May 2012, the Company has not been a party to any other material transaction, or
proposed transactions, in which any member of the key management personnel (including directors, any other executive ofcer, senior manager,
any spouse or relative of any of the foregoing or any relative of such spouse) had or was to have a direct or indirect material interest.