Vodafone 2013 Annual Report Download - page 150
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A7. Related party transactions
The Group has a number of related parties including joint ventures (refer to note 14), associates (refer to note 15),
pension schemes (refer to note A5 for the Group’s contributions), directors and Executive Committee members
(refer to note 4 for amounts paid to them).
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 extent
that they have not been eliminated through proportionate consolidation or disclosed below.
2013 2012 2011
£m £m £m
Sales of goods and services to associates 241 195 327
Purchase of goods and services from associates 105 107 171
Purchase of goods and services from joint ventures 329 207 206
Net interest receivable from joint ventures1(14) (7) (14)
Trade balances owed:
by associates 21 15 52
to associates 19 18 23
by joint ventures 119 9 27
to joint ventures 27 89 67
Other balances owed by joint ventures1 337 365 176
Note:
1 Amounts arise primarily through Vodafone Italy, Vodafone Hutchison Australia, Indus Towers and Cornerstone, 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 18. 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 2013, and as of 20 May 2013, 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 2013, and as of 20 May 2013, 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.
Notes to the consolidated nancial statements (continued)
148 Vodafone Group Plc
Annual Report 2013