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29.    Related party transactions
In the year ended 31 March 2004, the group’s turnover with its associates and joint ventures amounted to £1 million (2003 – £3 million, 2002 – £15 million) and the group purchased £60 million (2003 – £69 million, 2002 – £99 million) in services and products from these undertakings. Interest for the year of £nil (2003 – £nil, 2002 – £1 million) was receivable on debt due from these undertakings. The amount of debt outstanding with these undertakings, at 31 March 2004, was £28 million (2003 – £20 million). The maximum debt outstanding during the year was £43 million (2003 – £92 million). As at the latest practicable date, 14 May 2004, the amount of debt outstanding was £28 million.
     There were a number of transactions during the year between the company and its subsidiary undertakings, which are eliminated on consolidation and therefore not disclosed.

 

 

 

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