212 Vodafone Group Plc Annual Report 2025
Strategic report
Governance
Financials
Other information
10. Guarantees, contingent liabilities and legal proceedings
11. Other matters
The total remuneration of the Company’s auditor, Ernst & Young LLP and other member firms of Ernst & Young Global Limited, during the year ended 31 March 2025 was € 10 million (2024: €17 million). This comprised audit fees of € 8 million (2024 : € 7 million) and non-audit fees of € 2 million (2024 : €1 0 million). The Company had two (2024: two) employees during the year. The executive directors were remunerated by the Company for their services to the Group as a whole. No remuneration was paid to them specifically in respect of their services to Vodafone Group Plc for either year. Full details of the Directors’ remuneration are disclosed in the ‘ Annual Report on Remuneration ’ in the Annual Report and in n ote 23 ‘Directors and key management compensation’. Vodafone Group Plc is incorporated and domiciled in England and Wales (registration number 1833679). The registered address of the Company is Vodafone House, The Connection, Newbury, Berkshire, RG14 2FN, England.
2025 €m
2024 €m
Performance and payment bonds 1
1,313 1,518
1,399 1,566
Guarantees 2
Notes: 1. Performance and payment bonds represent letter of credit arrangements provided to other Group companies.
2. Principally comprises Vodafone Group Plc’s guarantee of the Group’s share in a multicurrency loan facility, amounting to US$1 billion and €0.6 billion (202 4: US$1 billion and €0.6 billion ), which forms part of its overall joint venture investment in TPG Telecom Ltd (as detailed in note 22 ‘Capital and financial risk m anagement’ to the consolidated financial statements). As detailed in note 25 ‘Post employment benefits’ to the consolidated financial statements, the Company is the sponsor of the Group’s main defined benefit scheme in the UK, being the Vodafone Group UK Pension Scheme (‘Vodafone UK plan’). The results, assets and liabil ities associated with the Vodafone UK plan are recognised in the financial statements of Vodafone Limited and Vodafone Group Services Limited. As detailed in note 29 ‘Contingent liabilities and legal proceedings’ to the consolidated financial statements, the Company has covenanted to provide security in favour of the trustees of the Vodafone Group UK Pension Scheme and the trustees of THUS Plc Group Scheme. Additionally, as detailed in note 32 ‘Subsidiaries exempt from audit’ to the consolidated financial statements, the Company guarantees the debts and liabilities of certain of its UK subsidiaries at the balance sheet date in accordance with section 479C of the Companies Act 2006. Legal proceedings Details regarding certain legal actions which involve the Company are set out in note 29 ‘Contingent liabilities and legal proceedings’ to the consolidated financial statements.
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