Notes to the accounts
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34 Related party transactions
Transactions between the company and its subsidiaries, which are related parties, have been eliminated on consolidation for the group.
Key management compensation is disclosed in note 37.
Significant transactions between the parent company and its subsidiaries are shown below:
| Subsidiary | Nature of transaction |
2007 £m |
2006 £m |
|
|---|---|---|---|---|
| TAI Investments Limited | Dividend | 30.5 | 22.4 | |
| Liberty International Holdings Limited | Dividend | 42.7 | 31.3 | |
| Conduit Insurance Holdings Limited | Dividend | 33.0 | 24.2 | |
| C&C Properties UK Ltd | Dividend | 66.1 | 24.7 | |
| C&C Management Services Limited | Dividend | 0.1 | 0.1 | |
| Capital & Counties Australia (Holdings) Limited | Dividend | 0.6 | 14.8 | |
| Capital & Counties Debenture PLC | Dividend | 90.1 | – | |
| Greenhaven Industrial Properties Limited | Dividend | 5.0 | – | |
| Capital Shopping Centres PLC | Dividend | 387.4 | 301.5 | |
| Interest receivable on bonds | – | 16.8 | ||
| Re-charges | 4.2 | 2.3 | ||
| Capital & Counties Limited | Investment income | – | – | |
| Re-charges | 1.6 | 1.0 | ||
| Interest payable | (0.3) | (1.4) | ||
| Liberty International Group Treasury Limited | Interest receivable | – | 19.1 | |
Significant balances outstanding between the parent company and its subsidiaries are shown below:
| Amounts owed by subsidiaries |
Amounts owed to subsidiaries |
|||
|---|---|---|---|---|
| Subsidiary |
2007 £m |
2006 £m |
2007 £m |
2006 £m |
| Liberty International Group Treasury Limited | 1,802.1 | 1,210.9 | – | – |
| C&C (Australia) Holdings Limited | – | – | – | (4.4) |
| Capital & Counties Limited | 13.1 | 12.9 | (60.0) | (60.0) |
| Conduit Insurance Holdings Limited | 16.0 | 16.0 | – | – |
| Liberty International Holdings Limited | 132.8 | 132.8 | – | – |
| TAI Investments Limited | – | – | (42.6) | (42.6) |
| Capital Shopping Centres PLC | 4.0 | 2.8 | – | – |
| Liberty International Asset Management Limited | – | 0.7 | – | – |
| Capcount Trading Limited | – | – | – | (2.3) |
| Greenhaven Industrial Properties Limited | – | – | – | (7.9) |
| C&C Properties UK Limited | – | – | – | (1.4) |