Barclays 2003 Annual Report Download - page 20

Employee Involvement
Barclays is committed to ensuring that employees share in the success of
the Company and have the opportunity to share their views and provide
feedback on issues which are important to them.
Equality
Barclays is committed to giving full and fair consideration to applications
for employment from people with disabilities and to continuing
the employment of staff who become disabled and arranging any
appropriate training to achieve this. More information can be found
on page 12.
Health and Safety
Barclays is committed to ensuring the health, safety and welfare of its
employees and, as far as is reasonably practicable, to providing and
maintaining safe working conditions. This commitment goes beyond just
fulfilling its statutory legal obligations; the Bank has a wish to be proactive
in its management of health and safety in the workplace, and recognises
that this will strengthen both its physical and human resources.
It is also recognised that in addition to its employees, Barclays has
responsibilities towards all persons on its premises, such as customers,
contractors, visitors and members of the public, and will ensure, as far
as is reasonably practicable, that they are not exposed to risks to their
health and safety.
The Board receives regular reports on health and safety from the Group
Human Resources Director. More details of our Health and Safety
practices can be found on page 12.
Creditors’ Payment Policy
Barclays policy follows the DTI’s Better Payment Practice Code, copies of
which can be obtained from the Better Payment Practice Group’s website
at www.payontime.co.uk. The Code states that a company should have
a clear, consistent policy, adhered to by the finance and purchasing
departments, that payment terms are agreed at the outset and payment
procedures explained to suppliers, that bills are settled in accordance
with payment terms agreed with suppliers, that complaints are dealt
with quickly and that suppliers are advised of disputes. Barclays values
its suppliers and acknowledges the importance of paying invoices,
especially those of small businesses, promptly. Normal policy is to pay
all small business purchases within 30 days.
Creditor payment days are carefully monitored in the Group, using the
systems which record the actual purchases and payments. Barclays
estimates that for all UK supplies to Barclays Bank PLC, average creditor
payment days in 2003 were 25 days (2002: 31 days). Paragraph 12(3)
of Schedule 7 to the Companies Act 1985 requires disclosure of trade
creditor payment days. Disclosure is required by the Company, rather
than the Group. The Group’s principal trading subsidiary in the UK is
Barclays Bank PLC, the accounts for which are prepared under Schedule
9 of the Companies Act 1985. The components for the trade creditor
calculation are not easily identified in Schedule 9. However, by
identifying as closely as possible the components required by the
Schedule, the trade creditor payment days for Barclays Bank PLC for
2003 were 35 days (2002: 28 days). This is an arithmetical calculation
which includes property rentals and payments, and does not necessarily
reflect our practice, which is described above, nor the experience of any
individual creditor.
The Auditors
PricewaterhouseCoopers LLP have signified their willingness to continue
in office and ordinary resolutions reappointing them as auditors and
authorising the Directors to determine their remuneration will be
proposed at the 2004 AGM. The Board Audit Committee approves and
reviews the appointment of the external auditors, as well as their
relationship with the Group, including monitoring the balance of audit
and non-audit fees paid to the auditors. More details on this can be
found on page 21 and Note 5 to the accounts.
The Annual General Meeting
The AGM will be held at The Queen Elizabeth II Conference Centre on
Thursday 29th April 2004. The Notice of Annual General Meeting is
included in the Annual Review and Summary Financial Statement 2003
sent to shareholders with this report.
By order of the Board
Lawrence Dickinson
Group Secretary
11th February 2004
Directors’ Report
18