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  • Notes to the financial statements
    • Notes 1–6
    • Notes 7–12
    • Notes 13–19
    • Notes 20–23
    • Notes 24–27
    • Notes 28–30
• Five-year summary
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Notes to the financial statements
at 31 March 2009

Notes 28-30

28 Capital and other commitments

At the year end the Group and Company had capital commitments contracted, but not provided for, of £0.2m (2008: £0.1m).

At the year end the Group also had a potential commitment to pay future milestones in relation to an agreement with Theradeas Limited based on successful clinical development of three potential products. There are no royalties due to Theradeas Limited if these products are successfully launched.

29 Related party transactions

Group
Transactions between the Company and its subsidiaries, which are related parties, have been eliminated on consolidation. Except as disclosed below, no Group company entered into a transaction with a related party that is not a member of the Group.

As noted in the Board’s Report on remuneration, during the year £7,000 (2008: £4,000) was paid to Dr S Foden for consultancy services.

Remuneration of key management personnel

	2009 £m	2008 £m
Short-term employee benefits	1.1	1.0
Post-employment benefits	0.1	0.1
Share-based payments	0.5	0.7
	1.7	1.8

Company
Details of the Company related party transactions with parties outside of the Group are noted above. In addition, the following details of trading within the Group are disclosed in accordance with IAS 24.

Related party	Recharge from related parties £m	Recharge to related parties £m	Amounts owed by related parties £m	Amounts owed to related parties £m
Subsidiaries:
2009	–	1.9	83.4	20.2
2008	2.8	6.8	8.3	20.4

Amounts outstanding are unsecured. No provisions have been made for doubtful debts owed by related parties.

30 Transfer of trade from Vectura Group plc to Vectura Limited

With effect from 1 April 2008, the trading activity and all related assets and liabilities of Vectura Group plc were transferred to Vectura Limited at their net book value of £73.2m.

 

©2009 Vectura Group plc Annual Report and Accounts 2008/09