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John Lewis Partnership plc annual report and accounts 2013
Notes to the accounts continued
7 Profit and loss of the company for the financial year
As permitted by Section 408 of the Companies Act 2006, John Lewis Partnership plc has not presented its own income statement or statement of comprehensive expense. The result dealt with in the accounts of the company amounted to £0.2m profit (2012: £0.1m profit).
8 Directors’ emoluments
Details of the remuneration of Directors are given in the part of the Remuneration Report noted as audited on pages 48 to 49.
9 Employees
During the year the average number of employees of the group was as follows:
Consolidated - 2013 - 2012
Consolidated 2013 2012
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John Lewis 29,300 28,200
Waitrose 51,000 48,400
Other 1,600 2,100
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81,900 78,700
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Employment and related costs were as follows:
Consolidated - 2013 £m - 2012 £m
Staff costs: Wages and salaries 1,162.3 1,096.3 Social security costs 88.5 85.5 Partnership Bonus 187.4 146.9 Employers’ national insurance on Partnership Bonus 23.4 18.3 Pension costs (note 24) 138.0 124.0 Long leave cost 5.4 4.9 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Total before partner discounts 1,605.0 1,475.9 Partner discounts (deducted from revenue) 57.4 50.1 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– 1,662.4 1,526.0 Included above are the following amounts in respect of key management compensation: Salaries and short-term benefits 13.5 12.4 Post-employment benefits* 4.6 4.9 –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
* Includes pension supplements in lieu of future pension accrual.
All Partners engaged in the service of the company are employees of the group. No costs
or employee numbers are shown for the company.
Key management include directors of group companies, members of the group’s management boards and officers of the group. Key management compensation includes salaries, national insurance costs, pension costs and the cost of other employment benefits, such as company cars, private medical insurance and termination payments where applicable.
Key management participate in the group’s long leave scheme, which is open to all employees and provides up to six months’ paid leave after 25 years’ service. There is no proportional entitlement for shorter periods of service. It is not practical to allocate the cost of accruing entitlement to this benefit to individuals, and so no allowance has been made for this benefit in the amounts disclosed.
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