Unilever 2009 Annual Report Download - page 131

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Notes to the consolidated financial statements Unilever Group
30 Related party transactions
The following related party balances existed with associate or joint venture businesses at 31 December:
€ million € million
Related party balances 2009 2008
Trading and other balances due from joint ventures 231 240
Trading and other balances due from/(to) associates 5(33)
Joint ventures
Unilever completed the restructuring of its Portuguese business as at 1 January 2007. Sales by Unilever group companies to Unilever Jeronimo
Martins and Pepsi Lipton International were €91 million and €14 million in 2009 (2008: €84 million and €12 million) respectively. Sales from
Jeronimo Martins to Unilever group companies were €46 million in 2009 (2008: €48 million). Balances owed by/(to) Unilever Jerónimo Martins
and Pepsi Lipton International at 31 December 2009 were €230 million and €1 million (2008: €238 million and €2 million) respectively.
Associates
At 31December 2009 the outstanding balance receivable from JohnsonDiversey Holdings Inc. was €5 million (2008: balance payable was
€33 million). Agency fees payable to JohnsonDiversey in connection with the sale of Unilever branded products through their channels amounted
to approximately €20 million in 2009 (2008: €24 million).
Langholm Capital Partners invests in private European companies with above-average longer-term growth prospects. Since the Langholm fund
was launched in 2002, Unilever has invested €76 million in Langholm, with an outstanding commitment at the end of 2009 of €21 million.
Unilever has received back a total of €123 million in cash from its investment in Langholm.
Physic Ventures is an early stage venture capital fund based in San Francisco, focusing on consumer-driven health, wellness and sustainable living.
Unilever has invested €20 million in Physic Ventures since the launch of the fund in 2007. At 31 December 2009 the outstanding commitment
with Physic Ventures was €43 million.
31 Remuneration of auditors
€ million € million € million
2009 2008 2007
Fees payable to PricewaterhouseCoopers(a) for the audit of the consolidated and parent
company accounts of Unilever N.V. and Unilever PLC (5) (7) (5)
Fees payable to PricewaterhouseCoopers(b) for the audit of accounts of
subsidiaries of Unilever N.V. and Unilever PLC pursuant to the legislation (14) (15) (17)
Total statutory audit fees(c) (19) (22) (22)
Other services supplied pursuant to such legislation –(1) (1)
Other services relevant to taxation (2) (2) (2)
Services relating to corporate finance transactions –(2) (1)
All other services (1) (1) (1)
(a) Of which:
€1 million was paid to PricewaterhouseCoopers Accountants N.V. (2008: €2 million; 2007: €1 million); and
€4 million was paid to PricewaterhouseCoopers LLP (2008: €5 million; 2007: €4 million).
(b) Comprises fees paid to the network of separate and independent member firms of PricewaterhouseCoopers International Limited for audit
work on statutory financial statements and group reporting returns of subsidiary companies.
(c) In addition, €1 million of statutory audit fees were payable to PricewaterhouseCoopers in respect of services supplied to associated pension
schemes (2008: €1 million; 2007: €1 million).
32 Events after the balance sheet date
As agreed at the AGMs and at meetings of ordinary shareholders in May 2009 Unilever has with effect from 1 January 2010 moved to an
arrangement of paying quarterly dividends. The first quarterly interim dividends of €0.1950 per NV ordinary share and £0.1704 per PLC
ordinary share were declared on 4 February 2010.
128 Unilever Annual Report and Accounts 2009
Financial statements