Vodafone 2016 Annual Report Download - page 155

Overview Strategy review Performance Governance Financials Additional information
Vodafone Group Plc
Annual Report 2016
153
31. Related party transactions
The Group has a number of related parties including joint arrangements and associates, pension schemes and
Directors and Executive Committee members (see note 12 “Investments in associates and joint arrangements”,
note 26 “Post employment benets” and note 24 “Directors and key management compensation”).
Transactions with joint arrangements and associates
Related party transactions with the Group’s joint arrangements and associates primarily comprise fees for the use of products and services including
network airtime and access charges, fees for the provision of network infrastructure 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.
2016 2015 2014
£m £m £m
Sales of goods and services to associates 30 32 231
Purchase of goods and services from associates 92 85 109
Sales of goods and services to joint arrangements 16 6 12
Purchase of goods and services from joint arrangements 598 566 570
Net interest income receivable from joint arrangements166 79 75
Trade balances owed:
by associates 13 3
to associates 3 4 3
by joint arrangements 183 182 82
to joint arrangements 55 48 170
Other balances owed by joint arrangements185 61 57
Other balances owed to joint arrangements184 54 63
Note:
1 Amounts arise primarily through Vodafone Italy, Vodafone Hutchison Australia, Indus Towers Limited and Cornerstone Telecommunications Infrastructure Limited. Interest is paid in line with
market rates.
Dividends received from associates and joint ventures are disclosed in the consolidated statement of cash ows.
Transactions with Directors other than compensation
During the three years ended 31 March 2016, and as of 17 May 2016, no Director nor any other executive ofcer, nor any associate of any Director
or any other executive ofcer, was indebted to the Company.
During the three years ended 31 March 2016 and as of 17 May 2016, 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 ofcer, 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.
32. Subsequent events
Euro reporting
With effect from 1 April 2016 the functional currency of the Company has been changed from pounds sterling to the euro. The euro is now
the primary currency in which the Company’s nancing activities and investment returns are denominated. Similarly, with effect from 1 April
2016, the Group’s presentation currency has been changed from pounds sterling to the euro to better align with the geographic split of the
Group’s operations.