john-lewis-partnership-plc-annual-report-2015

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166 John Lewis Partnership plc Annual Report and Accounts 2015 Notes to the Company financial statements (continued) 32 Investments This note sets out the value of the shares owned or amounts loaned to subsidiary companies directly invested in by the Company, which, together with their own subsidiaries, consolidate to form the Partnership. The Company has the following investments in subsidiaries at 31 January 2015. Subsidiary Other Shares in John Lewis plc £m Loan to John Lewis plc £m Shares in John Lewis Partnership Trust Limited £m At 25 January 2014 13.0 102.2 0.1 115.3 Movements – 7.6 – 7.6 At 31 January 2015 13.0 109.8 0.1 122.9 The intercompany loan from the Company to John Lewis plc is non-interest bearing with no specific repayment terms. 33 Borrowings Borrowings primarily consist of Cumulative Preference Stock and Share Incentive Plan shares, which are allocated to Partners who are entitled to a dividend. Total £m Non-current: 5% Cumulative Preference Stock (3.7) (3.7) 7½% Cumulative Preference Stock (0.5) (0.5) Share Incentive Plan shares (104.2) (97.2) (108.4) (101.4) 2015 £m 2014 £m
Annual Report and Accounts 2015 John Lewis Partnership plc 167 34 Trade and other payables Trade and other payables include amounts we owe in respect of preference and BonusSave dividends; and to HMRC in the form of taxes. Other payables (1.6) (1.9) All of the Company’s trade and other payables are current. The carrying amount of trade and other payables approximates to fair value. 35 Share capital Share capital consists of ordinary shares and is measured as the number of shares issued and fully paid multiplied by their nominal value. Authorised £m Issued and fully paid £m 2015 £m 2014 £m 2015 2014 Authorised £m Issued and fully paid £m Equity Deferred Ordinary Shares 612,000 of £1 each 0.6 0.6 0.6 0.6 The Deferred Ordinary Shares rank in all respects as equity shares except that each share has 1,000 votes in a vote taken on a poll. The Deferred Ordinary Shares are held by John Lewis Partnership Trust Limited, with whom ultimate control rests. 36 Related party transactions Two or more parties are considered to be related if one party has direct or indirect control or significant influence over financial or operating policies of the other party. The Company has a number of related parties with whom it transacts. As required by IFRS, this note details the transactions made in the year with related parties. 36.1 Loan to John Lewis plc The loan to John Lewis plc has been disclosed in note 32. 36.2 Other transactions Arrangements with Pension Scheme trustees and John Lewis Partnership Trust Limited are disclosed within note 29 of the consolidated Partnership accounts. Introduction Partnership difference Principles Strategy Performance Governance Financial statements
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