Thursday 23 May 2013
BT Group plc
Annual Financial Report
Annual Report & Form 20-F 2013
Summary financial statement & notice of meeting 2013
Following release on 10 May 2013 of its final results for the fourth quarter and year to 31 March 2013 (the Results Announcement), BT announces that the above documents have been published today and are available on its website at www.bt.com/annualreport
Copies of these documents, together with the proxy form for the BT Annual General Meeting, have been submitted to the National Storage Mechanism and will shortly be available for inspection at
http://www.morningstar.co.uk/uk/NSM
For the purposes of complying with the FCA's Disclosure and Transparency Rules, additional information including certain information in the BT Annual Report & Form 20-F 2013 (the Annual Report) is set out below.
Additional Information required by Disclosure and Transparency Rule 6.3.5
The following information, which is extracted from the Annual Report should be read in conjunction with the Results Announcement which includes a condensed set of consolidated financial statements, an indication of the important events that have occurred in the reporting period, and a description of BT's principal risks and uncertainties. Together these constitute the material required by DTR 6.3.5 to be communicated to the media in unedited full text through a Regulatory Information Service.
This material is not a substitute for reading the Annual Report in full and page and note numbers and cross-references in the extracted information below refer to page and note numbers and cross-references in the Annual Report. Defined terms used refer to terms as defined in the Annual Report.
" 28. Related party transactions
Key management personnel comprise executive and non-executive directors and members of the Operating Committee. Compensation of key management personnel is disclosed in note 6.
Compensation of key management personnel
Key management personnel comprise executive and non-executive directors and members of the Operating Committee. Compensation of key management personnel is shown in the table below:
|
Year ended 31 March
|
2013
|
2012
|
2011
|
| |
£m
|
£m
|
£m
|
|
Salaries and short-term benefits
|
10.5
|
11.6
|
11.4
|
|
Post employment benefits
|
1.1
|
1.0
|
1.4
|
|
Share-based payments
|
6.0
|
7.8
|
5.3
|
| |
17.6
|
20.4
|
18.1
|
More detailed information concerning directors' remuneration, shareholdings, pension entitlements, share options and other long-term incentive plans is shown in the audited part of the Report on Directors' Remuneration, which forms part of the consolidated financial statements.
Amounts paid to the group's retirement benefit plans are set out in note 19.
During 2012/13 the group purchased services in the normal course of business and on an arm's length basis from Tech Mahindra, which was a principal associate of the group at the beginning of the year. The net value of services purchased was £99m (2011/12: £253m; 2010/11: £258m). The group disposed of its remaining interest in Tech Mahindra in December 2012. The amount outstanding and payable for services at 31 March 2013 was £nil (2011/12: £51m, 2010/11: £61m)."
"Statement of Directors' responsibilities
Each of the directors, whose names and functions are listed on pages 65 to 66 confirms that, to the best of their knowledge:
· the consolidated financial statements, which have been prepared in accordance with IFRS, as adopted by the European Union, give a true and fair view of the assets, liabilities, financial position and profit of the group
· the Report of the Directors on pages 11 to 97 includes a fair review of the development and performance of the business and the position of the group, together with a description of the principal risks and uncertainties
that it faces."
ENDS