Vodafone 2016 Annual Report Download - page 176
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Vodafone Group Plc
Annual Report 2016
174
Notes to the Company nancial statements (continued)
10. Contingent liabilities and legal proceedings
2016 2015
£m £m
Other guarantees and contingent liabilities 1,722 1,670
Other guarantees and contingent liabilities
Other guarantees principally comprise the Company’s guarantee of the Group’s 50% share of an AUD 1.7 billion loan facility and a US$3.5 billion loan
facility of its joint venture, Vodafone Hutchison Australia Pty Limited.
The Company will guarantee the debts and liabilities of certain of its UK subsidiaries at the balance sheet date in accordance with section 479C
of the Companies Act 2006. The Company has assessed the probability of loss under these guarantees as remote.
As detailed in note 26 “Post employment benets” to the consolidated nancial statements, the Company is the sponsor of the Group’s main
dened benet scheme in the UK, being the Vodafone UK Group Pension Scheme (‘Vodafone UK plan’). The results, assets and liabilities associated
with the Vodafone UK plan are recognised in the nancial statements of Vodafone UK Limited and Vodafone Group Services Limited.
As detailed in note 30 “Contingent liabilities and legal proceedings” to the consolidated nancial statements, the Company has covenanted
to provide security in favour of the trustee of the Vodafone Group UK Pension Scheme and the Trustees of THUS Plc Group Scheme.
Legal proceedings
Details regarding certain legal actions which involve the Company are set out in note 30 “Contingent liabilities and legal proceedings” to the
consolidated nancial statements.
11. Other matters
The auditor’s remuneration for the current year in respect of audit and audit-related services was £1.9 million (2015: £2.0 million) and for non-audit
services was £0.4 million (2015: £2.0 million).
The Directors are remunerated by the Company for their services to the Group as a whole. No remuneration was paid to them specically in respect
of their services to Vodafone Group Plc for either year. Full details of the Directors’ remuneration are disclosed in “Directors’ remuneration” on pages
57 to 73.
There were no employees other than Directors of the Company throughout the current or the preceding year.