John Lewis Partnership plc Annual Report and Accounts 2014
79
Greenhouse Gas Emissions Global GHG emissions data for the period 27 January 2013 to 25 January 2014:
Tonnes of CO2
Emissions from:
Combustion of fuel & operation of facilities
Water supply and treatment, business travel by rail or air, waste to landfill
Total
Intensity measurement: Emissions reported above normalised to per £million sales
Methodology
The Partnership has reported on all of the emission sources as required under the Companies Act 2006 (Strategic Report and Directors’ Reports) Regulations 2013.
The reporting followed the 2013 UK Government environmental reporting guidance (Chapter 2) and used the GHG Protocol Corporate Accounting and Reporting Standard (revised edition), data gathered to fulfil our requirements under the CRC Energy Efficiency scheme, and, where available, emission factors from UK Government’s GHG Conversion Factors for Company Reporting. Excluded from this scope are emissions as a result of energy from heat networks and minor biomass fuel consumption and emissions from sites operated by stores under licence, franchisees (both overseas and Welcome Break franchises). The Partnership has commissioned DNV Two Tomorrows Limited to undertake independent assurance of Greenhouse Gas emissions data in its Sustainability Review 2014. DNV Two Tomorrows Limited performed its work using international assurance standards, including the International Standard on Assurance Engagements 3000 (Revised) – ‘Assurance Engagements Other Than Audits and Reviews of Historical Financial Information’ and ISO19011. For a full description of the work they performed, please see their assurance statement in our 2014 Sustainability Review on
www.johnlewispartnership.co.uk.
Political donations The Partnership made no political donations.
215,179
Electricity purchased for own use 271,112 60,067
546,358 53.7
e
Groceries (Supply Chain Practices) Market Investigation Order 2009 (‘the Order’) and the Groceries
Supply Code of Practice (‘GSCoP’) Waitrose has remained compliant with the Order and the GSCoP during the period and the business continues to ensure that it’s comprehensive Partner training programme (including annual refresher and new starter training), together with the ongoing monitoring of supplier contracts, promotes the necessary awareness and behaviours in order to ensure compliance.
As required by the Order and the GSCoP, the Code Compliance Officer is obliged to present a report detailing Waitrose’s compliance to the Partnership’s Audit and Risk Committee for approval. The report is then submitted to the Groceries Code Adjudicator and the Competitions and Markets Authority (previously the Office of Fair Trading).
The Audit and Risk Committee, which met on 8 April 2014, approved the Code Compliance Officer’s report on Waitrose’s compliance for the 12 month period ending 25 January 2014. The Audit and Risk Committee was pleased to note that Waitrose had not been the subject of any supplier or supply chain disputes under the Order or GSCoP during the said period. The Audit and Risk Committee also noted that Waitrose’s approach to GSCoP compliance reflects the Partnership’s commitment to its overarching principle of fairness that has always governed its relationships with suppliers.
Capital structure and purchase
of shares At 25 January 2014, the Partnership had in issue 3,696,995 5% Cumulative Preference stock, 500,000 7.5% Cumulative Preference stock, 612,000 Deferred Ordinary Shares and 97,250,000 SIP Shares. Under the Constitution, the 612,000 Deferred Ordinary Shares in John Lewis Partnership plc are held in trust for the benefit of employees of John Lewis plc and certain other trading companies within the Partnership.
There are no voting rights attached to the Cumulative Preference stocks unless the dividend is six months in arrears or unless a resolution is proposed which directly affects the interest of these shares as a class.
At the Annual General Meeting held on 6 June 2013, the Partnership was authorised to make market purchases of up to £3,696,995 in nominal amounts of the 5% Cumulative Preference stock and up to £500,000 in nominal amounts of the 7.5% Cumulative Preference stock, representing the remaining stock in issue. No purchases were made during the year, and shareholders will be invited to renew the authority at the Annual General Meeting, as detailed on page 130. The Partnership Board considers that these stocks are an inefficient form of fixed interest finance and that it would be advantageous to the Partnership to acquire them over time as suitable opportunities arise.
Annual General Meeting The Annual General Meeting will be held at 13.45 on Thursday 5 June 2014 at Partnership House, Carlisle Place, London, SW1P 1BX.
Auditors and disclosure
of information to auditors The auditors, PricewaterhouseCoopers LLP, have indicated their willingness to continue in office, and a resolution that they be reappointed will be proposed at the Annual General Meeting, together with a resolution to authorise the Directors to determine the auditors’ remuneration.
The Directors of the Partnership Board have taken all the necessary steps to make themselves aware of any information needed by the Partnership’s auditors in connection with preparing their report and to establish that the auditors are aware of that information. As far as the Directors are aware, there is no such information of which the Partnership’s auditors have not been apprised.
Approved by the Directors and signed on behalf of the Partnership Board
Margaret Casely-Hayford Director of Legal Services and Company Secretary
10 April 2014
THE JOHN LEWIS PARTNERSHIP
OUR PERFORMANCE
GOVERNANCE
FINANCIAL STATEMENTS
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