Marks and Spencer 2000 Annual Report Download - page 21

Equal opportunities
The Group is committed to an active Equal Opportunities
Policy from recruitment and selection, through training and
development, appraisal and promotion to retirement.
It is our policy to promote an environment free from
discrimination, harassment and victimisation where everyone
will receive equal treatment regardless of gender, colour,
ethnic or national origin, disability, age, marital status, sexual
orientation or religion. All decisions relating to employment
practices will be objective, free from bias and based solely
upon work criteria and individual merit.
The Company is responsive to the needs of its employees,
customers and the community at large and we are an organisation
that uses everyone’s talents and abilities to the full.
Employees with disabilities
It is our policy that people with disabilities should have full
and fair consideration for all vacancies. During the year we
continued to use the Government’s ‘two tick’ disability symbol
to demonstrate our commitment to interviewing those people
with disabilities who fulfil the minimum criteria, and
endeavouring to retain employees in the workforce if they
become disabled during employment. We will actively retrain
and adjust their environment where possible to allow them to
maximise their potential.
Creditor payment policy
The Company’s policy concerning the payment of its trade
creditors is as follows:
General Merchandise is automatically paid for 11 working
days from the end of the week of delivery. Foods are paid for
13 working days from the end of the week of delivery (based
on the timely receipt of an accurate invoice).
Distribution suppliers are paid monthly, for costs incurred in
that month, based on estimated annual contracts, and payments
are adjusted quarterly to reflect any variations to estimate.
Trade creditor days of the Company for the year ended 31 March
2000 were 14.9 days (10.7 working days), based on the ratio of
Company trade creditors at the end of the year to
the amounts invoiced during the year by trade creditors.
For all trade creditors, it is the Company’s policy to:
– Agree the terms of payment at the start of business with
that supplier,
– Ensure that suppliers are aware of the terms of payment,
– Pay in accordance with its contractual and other legal
obligations.
Charitable and political contributions
During the year, we spent £14.1m in the UK in support of
the community. Within this, direct donations to charitable
organisations amounted to £4.0m. These figures include £6.9m
for our programme of Millennium events and activities, of which
£0.5m is a donation to the Children’s Promise. No contributions
were made to any political party.
Annual general meeting
The Notice of the Annual General Meeting to be held on 19 July
2000 (together with explanatory notes) is given in the booklet
which accompanies this Report. The Special Business of the
Meeting includes resolutions to adopt a new Executive Share
Option Scheme and a new All-Employee Share Plan.
By order of the Board
Luc Vandevelde, Chairman
London
22 May 2000
19 Annual Report and Financial Statements 2000