Financial Statements

6. Balances and transactions with related parties

The draw down in cash of retained members' profit prior to 7 March 2010 which is not recorded in the Group statement of comprehensive income, by the members of the Limited Liability Partnerships, which includes any prior share of profit, were as follows:

52 weeks ended
1 May 2011
52 weeks ended
2 May 2010
£m £m
Julian Dunkerton/Cult Clothing Cheltenham Limited 3.5
Theo Karpathios/Karpathios Limited 1.1
James Holder/James Holder Limited 1.2

As part of the prior period Group restructuring key management received shares and loan notes in SuperGroup Plc as follows:

Shares received Loan notes
£m £m
Julian Dunkerton/Cult Clothing Cheltenham Limited 130.4 61.0
Theo Karpathios/Karpathios Limited 59.3 19.2
James Holder/James Holder Limited 59.3 19.5
Diane Savory 5.4 1.4
Chas Howes 3.8 1.0
John Kingston 2.7 0.7
Richard Baldwin 1.4 0.4
Andrew Humphreys 1.4 0.4

The loan notes were converted into cash prior to 2 May 2010.

Directors' emoluments

Directors' remuneration is detailed in the Directors' Remuneration Report.

Related party guarantees

Guarantees are irrevocable assurances that the Group will make payments in the event that another party cannot meet its obligations. On 6 October 2009, Cult Retail LLP signed an operating lease agreement to act as a guarantor on retail premises in Kildare, Republic of Ireland. The premises are leased to Tokyo Retail Limited in which Julian Dunkerton's brother-in-law is a director. The annual rent is €79,400 plus a turnover linked element and the guarantee expires in October 2011.

Transactions with Directors

The Group occupies two properties owned by J M Dunkerton SIPP pension fund, whose beneficiary and member trustee is Julian Dunkerton. The properties are rented to the Group on an arm's length basis.

Around the prior period end Julian Dunkerton, Theo Karpathios and James Holder personally paid bonuses of £1.0m to long serving employees of the Group. These amounts are not included in the Group statement of comprehensive income as these costs were not borne by the Group.

Company transactions with subsidiaries

The Company has made management charges and has inter-company debtor balances included within trade and other payables as follows:

Management charges Inter-company debtor
52 weeks ended
1 May 2011
26 weeks ended
2 May 2010
Balance sheet
1 May 2011
Balance sheet
2 May 2010
£m £m £m £m
C-Retail Limited 3.8 6.7 1.2
DKH Retail Limited 2.7 6.0
SuperGroup Concessions Limited 0.6 0.7
SuperGroup Internet Limited 0.6 0.7
SuperGroup Retail Ireland Limited 0.1 0.1
SuperGroup Europe BVBA 0.7