A6 Related party transactions

Group

Transactions between the company and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed in this note.

Trading transactions

There were sales of services of £1.2 million (2015: £1.0 million) and purchases of goods and services of £0.7 million (2015: £0.8 million) between the group and its joint ventures. Sales of services to related parties were on the group's normal trading terms.

At 31 March 2016, amounts owed by joint ventures were £2.9 million (2015: £2.8 million) and there were no amounts owed to joint ventures (2015: £nil). The amounts outstanding are unsecured and will be settled in accordance with normal credit terms. No expense or allowance has been recognised for bad and doubtful receivables in respect of the amounts owed by related parties (2015: £nil).

In addition, the group has issued guarantees of £4.7 million (2015: £4.7 million) in support of its joint ventures (see note 11).

Details of transactions with key management are disclosed in note 2.

Company

The parent company receives dividend income and pays and receives interest to and from subsidiary undertakings in the normal course of business. Total dividend income received during the year amounted to £258.7 million (2015: £249.5 million) and total net interest payable during the year was £27.9 million (2015: £26.3 million). Amounts outstanding at 31 March 2016 and 31 March 2015 between the parent company and subsidiary undertakings are provided in notes 14, 17 and 21.

At 31 March 2016 and 31 March 2015, no related party receivables and payables were secured and no guarantees were issued in respect thereof. Balances will be settled in accordance with normal credit terms. No allowance for doubtful receivables has been made for amounts owed by subsidiary undertakings as at 31 March 2016 and 31 March 2015.