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34. Related party transactions
The following information is provided in accordance with IAS 24, Related Party Disclosures, as being material transactions with related parties during the year. These transactions are with joint ventures and a pension plan and were in the normal course of business and are summarised below:
| 2007 £m |
2006 £m |
2005 £m |
|
|---|---|---|---|
| Sales: Services to a pension plan | 4 | 4 | 4 |
| Purchases: Services received from joint ventures | 26 | 32 | 24 |
At 31 March 2007, there were amounts receivable and payable from and to related parties amounting to £nil (2006: £nil; 2005: £1m) and £2m (2006: £1m; 2005: £1m) respectively, which are due on normal commercial terms.
Details of investments in principal subsidiary undertakings and joint ventures are disclosed in note 36 and information relating to pension fund arrangements is disclosed in note 8. Details of Directors and key management remuneration is set out in note 6 and the Directors' remuneration report.