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John Lewis Partnership plc Annual Report and Accounts 2014


NOTES TO THE COMPANY FINANCIAL STATEMENTS CONTINUED


35 Related party transactions Two or more parties are considered to be related if one party has direct or indirect control or significant influence over financial or operating policies of the other party. The Company has a number of related parties with whom it transacts. As required by IFRS, this note details the transactions made in the year with related parties.


35.1 Loan to John Lewis plc The loan to John Lewis plc has been disclosed in note 31.


35.2 Other transactions


Arrangements with Pension Scheme trustees and John Lewis Partnership Trust Limited are disclosed within note 28 of the consolidated Partnership accounts.


36 Subsidiary undertakings This note sets out the principal subsidiaries of the Company, along with the principal activities, country of incorporation and percentage of shares owned of each subsidiary.


The Partnership has a number of subsidiaries which contribute to the overall profitability of the Partnership. The principal subsidiaries are disclosed below. A schedule of interests in all subsidiary undertakings is filed with the Annual Return.


Principal subsidiary undertakings as at 25 January 2014 were as follows: Name


Principal activity John Lewis plc


Department store retailing, corporate and shared services


Shareholdings in John Lewis plc are analysed as follows: Class of share


Ordinary shares


5% First Cumulative Preference Stock 7% Cumulative Preference Stock


Subsidiary undertakings of John Lewis plc: Name


Herbert Parkinson Limited JLP Insurance Limited


Principal activity


Weaving and making up Insurance


Country of Incorporation England


Guernsey


JLP Scottish Limited Partnership Investment holding undertaking Scotland JLP Scottish Partnership


John Lewis Car Finance Limited Car finance John Lewis Delivery Limited John Lewis Properties plc Waitrose (Jersey) Limited Waitrose (Guernsey) Limited Waitrose Limited


International delivery


Property holding company Food retailing Food retailing Food retailing


Investment holding undertaking Scotland England England England Jersey


Guernsey England


Country of incorporation England


Percentage shareholdings 100%


Percentage shareholding 100% 83.3% 75.6%


Percentage shareholdings 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%


The whole of the ordinary share capital of the subsidiary undertakings of John Lewis plc is held within the Partnership. The list excludes non- trading subsidiary undertakings which have no material effect on the accounts of the Partnership. Except as noted above, all of these subsidiary undertakings operate wholly or mainly in the United Kingdom.


The Partnership has taken advantage of the exemption conferred by regulation 7 of the Partnerships (Accounts) Regulations 2008 and has therefore not appended the accounts of JLP Scottish Partnership and JLP Scottish Limited Partnership to these accounts. Separate accounts for these partnerships are not required to be filed with the Registrar of Companies.


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