160 JUST GROUP PLC Annual Report and Accounts 2020
NOTES TO THE COMPANY FINANCIAL STATEMENTS CONTINUED
8 RELATED PARTY TRANSACTIONS All transactions with related parties are carried out on an arm’s length basis. (a) Trading transactions and balances The following transactions were made with related parties during the year:
Year ended 31 December 2020 £m
Year ended 31 December 2019 £m
Staff costs, Directors’ remuneration, operating expenses and management fees charged by Just Retirement Management Services Limited
18.1
15.9
175.0 100.0
Loan advances to Just Retirement Limited
275.0 150.0
Loan advances to Partnership Life Assurance Company Limited Interest on loan balances charged to Just Retirement Limited
58.3 13.5 90.0
38.1
Interest on loan balances charged to Partnership Life Assurance Company Limited
3.9
Dividends from Partnership Assurance Group Limited
–
The following balances in respect of related parties were owed by the Company at the end of the year:
2020 £m
2019 £m
(0.2) (4.6)
Just Retirement Limited
(0.7) (7.7)
Just Retirement Management Services Limited
The following balances in respect of related parties were owed to the Company at the end of the year:
2020 £m
2019 £m
0.3 0.1 0.7
HUB Financial Solutions Limited
– – –
Just Retirement Group Holdings Limited Partnership Life Assurance Company Limited
–
TOMAS Online Development Limited
0.1
759.2 251.8
Loan to Just Retirement Limited (including interest)
681.9 151.6
Loan to Partnership Life Assurance Company Limited (including interest)
3.6
Amounts owed for Group corporation tax
9.8
(b) Key management compensation Key management personnel comprise the Directors of the Company.
Key management compensation is disclosed in note 37 to the Group financial statements.
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