The Learning and Skills Councils Annual Report and Accounts for ...
The Learning and Skills Councils Annual Report and Accounts for ...
The Learning and Skills Councils Annual Report and Accounts for ...
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22 Related party transactions<br />
During 2009–10 the LSC was an NDPB sponsored by BIS <strong>and</strong> DCSF, both of whom are regarded as related parties.<br />
During this period the LSC had various material transactions with BIS, DCSF, DWP <strong>and</strong> the Higher Education Funding Council<br />
<strong>for</strong> Engl<strong>and</strong>.<br />
<strong>The</strong> LSC also entered into transactions with organisations that can be considered as related because of the nature of the<br />
involvement of LSC National Council members <strong>and</strong> Management Group directors, or their close family members. <strong>The</strong> table<br />
below details the most material transactions <strong>and</strong> the relationship of the organisations to the LSC. All transactions were in<br />
the normal course of business <strong>and</strong> were conducted at arm’s length.<br />
LSC Council<br />
member/<br />
director/<br />
close family<br />
member<br />
LSC role/<br />
relationship<br />
Related<br />
organisation<br />
role/<br />
relationship<br />
Related<br />
organisation<br />
Transaction(s)<br />
Value<br />
(£’000)<br />
Amounts<br />
owed to<br />
related<br />
party<br />
(£’000)<br />
Amounts<br />
owed by<br />
related<br />
party<br />
(£’000)<br />
Bad<br />
debts<br />
(£’000)<br />
Dame Mary<br />
Marsh<br />
National<br />
Council<br />
member<br />
Nonexecutive<br />
director<br />
HSBC plc<br />
LSC provided<br />
funding<br />
allocations<br />
389 0 0 0<br />
Dame Mary<br />
Marsh<br />
National<br />
Council<br />
member<br />
Trustee/<br />
member<br />
<strong>The</strong> Young<br />
Enterprise<br />
LSC provided<br />
funding<br />
allocations<br />
212 0 0 0<br />
Margaret<br />
Galliers CBE<br />
National<br />
Council<br />
member<br />
Principal<br />
Leicester<br />
College<br />
LSC provided<br />
funding<br />
allocations<br />
46,518 189 0 0<br />
Margaret<br />
Galliers CBE<br />
National<br />
Council<br />
member<br />
Board<br />
member<br />
National<br />
Institute<br />
of Adult<br />
Continuing<br />
Education<br />
LSC provided<br />
funding<br />
allocations<br />
4,383 47 0 0<br />
Margaret<br />
Galliers CBE<br />
National<br />
Council<br />
member<br />
Committee<br />
member<br />
Higher<br />
Education<br />
Funding<br />
Council<br />
LSC provided<br />
funding<br />
allocations<br />
38,148 0 0 0<br />
Jill Youds<br />
National<br />
Council<br />
member<br />
Director of<br />
Talent <strong>and</strong><br />
<strong>Learning</strong><br />
Virgin Media<br />
LSC provided<br />
funding<br />
allocations<br />
267 14 0 0<br />
Robert<br />
Hough<br />
National<br />
Council<br />
member<br />
Board<br />
member<br />
Business<br />
in the<br />
Community<br />
North West<br />
LSC provided<br />
funding<br />
allocations<br />
144 3 0 0<br />
Robert<br />
Hough<br />
National<br />
Council<br />
member<br />
Chairman<br />
(from<br />
17 August<br />
2009)<br />
North West<br />
Regional<br />
Development<br />
Agency<br />
LSC made<br />
payments <strong>for</strong><br />
services<br />
3,310 719 0 0<br />
Robert<br />
Hough<br />
National<br />
Council<br />
member<br />
Board<br />
member<br />
Northwest<br />
Business Link<br />
LSC provided<br />
funding<br />
allocations<br />
15,946 303 0 0<br />
Mark<br />
S<strong>and</strong>ers<br />
National<br />
Council<br />
member<br />
Chief<br />
Executive<br />
Bury<br />
Metropolitan<br />
Borough<br />
Council<br />
LSC provided<br />
funding<br />
allocations<br />
3,642 25 166 0<br />
76 LSC <strong>Annual</strong> <strong>Report</strong> <strong>and</strong> <strong>Accounts</strong> 2009–10
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