International Financial Reporting Standards_guide.pdf

Chapter 31 Related-Party Disclosures (IAS 24) 337
The Group provides banking services to Directors and other Key Management Personnel and persons
connected to them. Transactions during the year and the balances outstanding at 31st December 2008
were as follows:
Directors, other Key Management Personnel and connected persons
2008
The amounts of £m any
2007
£m
2006
£m
Loans outstanding at 1st January transactions or balances 7.4 with 7.8 7.4
related parties including
Loans issued during the year 6.9 2.7 2.7
key management must
Loan repayments during the year (5.5) (3.2) (2.3)
be disclosed
Loans outstanding at 31st December 8.8 7.3 7.8
Interest income earned 0.4 0.4 0.3
No allowances for impairment were recognised in respect of loans to Directors or other members of
Key Management Personnel (or any connected person) in 2008, 2007 or 2006.
2008
£m
The terms and conditions
2007
£m
2006
£m
Deposits outstanding at 1st January and any allowances for 8.9 15.0 4.7
Deposits received during the year impairment must be 235.7 114.4 105.2
Deposits repaid during the year disclosed for all related (221.9) (115.0) (94.8)
party balances
Deposits outstanding at 31st December 22.7 14.4 15.1
Interest expense on deposits 0.5 0.6 0.2
Of the loans outstanding above, £1.6m (2007: £nil, 2006: £nil) relates to Directors and other Key
Management Personnel (and persons connected to them) that left the Group during the year. Of the
deposits outstanding above, £6.1m (2007: £2.8m, 2006: £0.1m) related to Directors and other Key
Management Personnel (and persons connected to them) that left the Group during the year.
All loans are provided on normal commercial terms to Directors and other Key Management Personnel
(and persons connected to them), with the exception of £692 of loans which are provided on an interest
free basis.
The loans of £692 provided on an interest free basis relate to the granting of loans to one non-Director
member of Barclays key management to purchase commuter rail tickets. The commuter rail ticket
loans are still provided to all Barclays staff members upon request on the same terms.
All loans to Directors and other key management personnel (a) were made in the ordinary course of
business, (b) were made on substantially the same terms, including interest rates and collateral, as
those prevailing at the same time for comparable transactions with other persons and (c) did not
involve more than a normal risk of collectability or present other unfavourable features.
Directors, other Key Management Personnel and connected persons
2008
£m
2007
£m
2006
£m
Salaries and other short-term benefits
Total key
10.7 23.7 34.2
Pension costs
management personnel
0.9 1.1 0.8
Other long-term benefits compensation must 1.6 9.2 9.3
Termination benefits be disclosed per
– – 1.4
Share-based payments compensation type 11.8 31.7 27.2
Employer social security charges on emoluments 2.7 7.8 10.0
27.7 73.5 82.9
(continued)