31. Related party transactions

Transactions between subsidiary members of Guardian Media Group plc are not required to be disclosed as these transactions are fully eliminated on consolidation. In the course of normal operations, the Group has traded on an arm’s length basis with joint ventures, associates and other related undertakings, principally Trader Media Group, Emap and Trafford Park Printers (until 1 October 2008 when it became a subsidiary). The aggregated transactions which are considered to be material and which have not been disclosed elsewhere in the financial statements are summarised below:

At year end, balances outstanding in relation to these transactions amounted to £674.7 million (2008 £320.5 million).

During the year Guardian Media Group plc paid £59,229 (2008 £112,480) to eight (2008 eight) members of the Scott Trust in relation to their duties as trustees. A further £71,299 (2008 £142,196) was paid to two (2008 two) of the trustees, neither of whom are directors of the Group, for services rendered to Guardian News & Media Limited in the normal course of business and paid on a normal arm’s length basis. In addition, the Group paid £1,406,404 (2008 £304,000) to a law firm of which a further member of the Scott Trust is a partner.

The Group paid a further £83,509 to two directors of The Scott Trust Limited for services rendered to Guardian News & Media Limited in the normal course of business and paid on a normal arm’s length basis. The Group also paid a further £301,540 to a law firm of which a Scott Trust Limited director is a partner.