The Learning and Skills Councils Annual Report and Accounts for ...

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22 Related party transactions During 2009–10 the LSC was an NDPB sponsored by BIS and DCSF, both of whom are regarded as related parties. During this period the LSC had various material transactions with BIS, DCSF, DWP and the Higher Education Funding Council for England. The LSC also entered into transactions with organisations that can be considered as related because of the nature of the involvement of LSC National Council members and Management Group directors, or their close family members. The table below details the most material transactions and the relationship of the organisations to the LSC. All transactions were in the normal course of business and were conducted at arm’s length. LSC Council member/ director/ close family member LSC role/ relationship Related organisation role/ relationship Related organisation Transaction(s) Value (£’000) Amounts owed to related party (£’000) Amounts owed by related party (£’000) Bad debts (£’000) Dame Mary Marsh National Council member Nonexecutive director HSBC plc LSC provided funding allocations 389 0 0 0 Dame Mary Marsh National Council member Trustee/ member The Young Enterprise LSC provided funding allocations 212 0 0 0 Margaret Galliers CBE National Council member Principal Leicester College LSC provided funding allocations 46,518 189 0 0 Margaret Galliers CBE National Council member Board member National Institute of Adult Continuing Education LSC provided funding allocations 4,383 47 0 0 Margaret Galliers CBE National Council member Committee member Higher Education Funding Council LSC provided funding allocations 38,148 0 0 0 Jill Youds National Council member Director of Talent and Learning Virgin Media LSC provided funding allocations 267 14 0 0 Robert Hough National Council member Board member Business in the Community North West LSC provided funding allocations 144 3 0 0 Robert Hough National Council member Chairman (from 17 August 2009) North West Regional Development Agency LSC made payments for services 3,310 719 0 0 Robert Hough National Council member Board member Northwest Business Link LSC provided funding allocations 15,946 303 0 0 Mark Sanders National Council member Chief Executive Bury Metropolitan Borough Council LSC provided funding allocations 3,642 25 166 0 76 LSC Annual Report and Accounts 2009–10
LSC Council member/ director/ close family member LSC role/ relationship Related organisation role/ relationship Related organisation Transaction(s) Value (£’000) Amounts owed to related party (£’000) Amounts owed by related party (£’000) Bad debts (£’000) Mark Sanders National Council member Board adviser Manchester Solutions LSC provided funding allocations 10,325 204 0 0 Ian Ferguson CBE National Council member Chairman Rathbone LSC provided funding allocations 19,324 615 0 0 Professor Sir Deian Hopkin National Council member (until 30 June 2009) Vice Chancellor London South Bank University LSC provided funding allocations 215 0 0 0 Professor Sir Deian Hopkin National Council member (until 30 June 2009) Trustee Campaign for Learning LSC provided funding allocations 85 0 0 0 Frances O’Grady CBE National Council member Deputy General Secretary Trades Union Congress LSC provided funding allocations 3,162 0 0 0 Les Walton OBE National Council member Council member North East Chamber of Commerce LSC received credits for funding allocations 53 17 0 0 Mary Heslop, partner of Rob Wye Related to National Director Vice- Principal Warwickshire College LSC provided funding allocations 39,220 347 0 0 Paul Holme National Director Co-opted Board of Governors Liverpool John Moores University LSC provided funding allocations 216 0 219 14 Viv Gillespie, spouse of Malcolm Gillespie Gareth Cadwallader Related to Regional Director National Council member Principal Board of Governors/ Chair of Student Liaison Committee City College Plymouth Thames Valley University LSC provided funding allocations LSC provided funding allocations 25,354 264 0 0 20,360 382 0 0 Finance Bryan Gray CBE National Council member (until 6 August 2009) Chairman (until 16 August 2009) North West Regional Development Agency LSC made payments for services 3,310 719 0 0 LSC Annual Report and Accounts 2009–10 77
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The Learning and Skills Council’s
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© Skills Funding Agency July 2010
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Chairman’s Statement Looking back
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This comes on top of another achiev
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So it is with both delight and some
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Our Targets and Achievements In the
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Management and Structure The Learni
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Taking Care of Our People To meet o
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We have had in place a comprehensiv
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Management Commentary Reporting of
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Year-end position 11. The net book
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34. As Accounting Officer I confirm
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Components of remuneration The Chai
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Board members’ emoluments Audited
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Page 32 and 33: Senior Management Group pension ent
Page 34 and 35: Unaudited information Salary For th
Page 36 and 37: Statement of the Chief Executive of
Page 38 and 39: 8. In 2008-09, the LSC failed to pr
Page 40 and 41: 28. During the past year, the Manag
Page 42 and 43: issues were incorporated into it. T
Page 44 and 45: • Following a referral to the IAI
Page 46 and 47: Data management 82. The Internal Au
Page 48 and 49: The Certificate and Report of the C
Page 50 and 51: Statement of Financial Position as
Page 52 and 53: Statement of Cash Flows for the yea
Page 54 and 55: Table 1: Summary of depreciation me
Page 56 and 57: Education Maintenance Allowance Edu
Page 58 and 59: 2 First-time adoption of IFRS £’
Page 60 and 61: Funding department Year ended 31 Ma
Page 62 and 63: Funding department Year ended 31 Ma
Page 64 and 65: 3b Programme expenditure by regiona
Page 66 and 67: 5a Staff costs Information in respe
Page 68 and 69: 6a Administration (other costs) Yea
Page 70 and 71: 9 Property, Plant and Equipment (i)
Page 72 and 73: 11a Trade receivables and other cur
Page 74 and 75: 13a Trade payables and other curren
Page 76 and 77: 15 Financial guarantee: Career Deve
Page 78 and 79: 17 Operating lease commitments Tota
Page 82 and 83: 23 Losses statement The LSC incurre
Page 84 and 85: Glossary and Further Information Th
Page 86: Sector Skills Councils (SSCs) Indep
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