Corporate report
Note 14 Other financial assets
Updated 25 September 2012
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| 14. Other financial assets | |||||||
|---|---|---|---|---|---|---|---|
| £0 | Central Office of Information Public Dividend Capital | Procurement Service Public Dividend Capital | London Hostel Association Loan | Bridges Social Entrepreneurs Fund Loan | Total | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Restated balance at 1 April 2010 | 265 | 350 | 344 | 662 | 1,621 | Not set | Not set |
| Additions | - | - | - | 244 | 244 | Not set | Not set |
| Impairment | - | - | - | -352 | -352 | Not set | Not set |
| Loan repayments | - | - | -20 | - | -20 | Not set | Not set |
| Balance at 31 March 2011 Restated | 265 | 350 | 3241 | 5542 | 1,493 | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Additions | - | - | - | 343 | 343 | Not set | Not set |
| Impairment | - | - | - | -128 | -128 | Not set | Not set |
| Loan repayments | -265 | - | -20 | - | -285 | Not set | Not set |
| Balance at 31 March 2012 | - | 350 | 3041 | 7692 | 1,423 | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | ||
| Of which at 31 March 2012 | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Current liability | - | - | 20 | - | 20 | Not set | Not set |
| Non current liability | - | 350 | 284 | 769 | 1,403 | Not set | Not set |
| Balance at 31 March 2012 | - | 350 | 304 | 769 | 1,423 | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Of which at 31 March 2011 | Not set | Not set | Not set | Not set | Not set | ||
| Current liability | 265 | - | 20 | - | 285 | Not set | Not set |
| Non current liability | - | 350 | 304 | 554 | 1,208 | Not set | Not set |
| Balance at 31 March 2011 Restated | 265 | 350 | 324 | 554 | 1,493 | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Of which at 1 April 2010 | Not set | Not set | Not set | Not set | Not set | ||
| Current liability | - | - | 20 | - | 20 | Not set | Not set |
| Non current liability | 265 | 350 | 324 | 662 | 1,601 | Not set | Not set |
| Balance at 1 April 2010 Restated | 265 | 350 | 344 | 662 | 1,621 | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | |
| All ‘Other financial assets’ are held by the core Department. | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| 1 The loan made to London Hostels Association, LHA London Ltd, is secured by a debenture dated 23 July 1986 and is interest free. It is repayable by instalments at the rate of £20,000 per annum in accordance with the agreement. Where any property is sold, the Cabinet Office may at its discretion, require a maximum of 25% of the net proceeds as an accelerated repayment of the loan. | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| 2 For information on loan commitments, see Notes 22 and 31. | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| The Department’s share of the assets and results of the above bodies is as summarised below: | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| £0 | London Hostels Association Loan | Bridges Social Entreprenuers Fund Loan | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Net assets at 1 April 2010 | - | 5721 | Not set | Not set | Not set | Not set | Not set |
| Turnover | - | - | Not set | Not set | Not set | Not set | Not set |
| Surplus for the year (before financing) | - | - | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Net assets at 31 March 2011 | - | 5542 | Not set | Not set | Not set | Not set | Not set |
| Turnover | - | - | Not set | Not set | Not set | Not set | Not set |
| Surplus for the year (before financing) | - | - | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Net assets at 31 March 2012 | - | 8043 | Not set | Not set | Not set | Not set | Not set |
| Turnover | - | - | Not set | Not set | Not set | Not set | Not set |
| Surplus for the year (before financing) | - | - | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| 1 Net assets include £34,036 which was the subject of a drawdown request dated 24 March 2010 to settle management fees for the period 1 April 2010 to 30 June 2010. The amount of £34,036 is not included in the total additions figure of £661,895 as it was paid on 12 April 2010 under the terms of the Limited Partnership Agreement. The loan was not impaired in 2009-10 given that the Fund was newly established in August 2009 | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| 2 The department has a 33.27% share of the net assets | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| 3 The department holds a 33.27% share of the total net assets and partnership funds amounting to £803,811. Net assets include an amount of £35,072 which was the subject of a draw down request dated 30 March 2012. This amount is not included in the total additions figure of £343,336 as it was paid during April 2012 under the terms of the Limited Partnership Agreement | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Extracts from Central Office of Information (COI) Accounts for the year ended 30 December 2011 | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| COI was born out of the wartime Ministry of Information and came into being on 1 April 1946. It closed on 30 December 2011. For 66 years it has performed a key function as an efficient and effective centre for government communications, supporting and delivering results on behalf of a diverse range of clients in Whitehall and right across the wider public sector. Ever since it was formed, COI has driven best practice, value for money and has championed accountability standards and robust evaluation. These principles now lie at the heart of all government marketing and communications activity. | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Extracts from the comprehensive statement of income | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| £0 | 2011-12 | 2010-11 | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | |
| Revenue1 | 92,855 | 167,990 | Not set | Not set | Not set | Not set | Not set |
| Cabinet Office subsidy | 5,981 | - | Not set | Not set | Not set | Not set | Not set |
| Other income | 1,685 | 1,754 | Not set | Not set | Not set | Not set | Not set |
| Operating surplus/ (deficit) | 100,521 | 169,744 | Not set | Not set | Not set | Not set | Not set |
| Operating costs | -103,771 | -174,411 | Not set | Not set | Not set | Not set | Not set |
| Surplus/ (deficit) for the period | -3,250 | -4,667 | Not set | Not set | Not set | Not set | Not set |
| Loss on disposal of current assets | -12 | - | Not set | Not set | Not set | Not set | Not set |
| Finance income | 21 | 58 | Not set | Not set | Not set | Not set | Not set |
| Finance costs | - | - | Not set | Not set | Not set | Not set | Not set |
| Retained surplus/ (deficit) for the period | -3,241 | -4,609 | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Extracts from the statement of financial position | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| £0 | 2011-12 | 2010-11 | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Non current assets | - | 1,228 | Not set | Not set | Not set | Not set | Not set |
| Current assets | 39,293 | 50,356 | Not set | Not set | Not set | Not set | Not set |
| Liabilities due within one year | -39,293 | -45,898 | Not set | Not set | Not set | Not set | Not set |
| Liabilities due after more than one year | - | -2,180 | Not set | Not set | Not set | Not set | Not set |
| Net assets and taxpayers’ equity | - | 3,506 | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| 1Revenue includes £301,000 (2010-11: £649,000) Cabinet Office subsidy for Central Advisory Service | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Government Procurement Service (formally known as Buying Solutions) | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Government Procurement Service, originally known as Buying Solutions, was set up in 1991 as a Trading Fund under the Government Trading Fund Act 1973. It provides procurement services to the other government bodies. The Cabinet Office owns 100 per cent of the issued Public Dividend Capital of Buying Solutions. In accordance with the FReM, the Cabinet Office’s investment is shown at its historical cost. A dividend of £2.379 million (2010-11: £2.092 million) is payable for the year ended 31 March 2011; see Notes 10 and 31. | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Extracts from Government Procurement Service’s Accounts for the year ended 31 March 2012 | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Extracts from the comprehensive statement of income | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| £0 | 2011-12 | 2010-11 | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | |
| Turnover | 54,198 | 76,279 | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Operating surplus/ (deficit) | 4,929 | 6,190 | Not set | Not set | Not set | Not set | Not set |
| Interest receivable | 60 | 46 | Not set | Not set | Not set | Not set | Not set |
| Surplus/ (deficit) for the financial year | 4,989 | 6,236 | Not set | Not set | Not set | Not set | Not set |
| Dividend payable to Cabinet Office | -2,379 | -2,092 | Not set | Not set | Not set | Not set | Not set |
| Retained surplus/ (deficit) for the financial year | 2,610 | 4,144 | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Extracts from the statement of financial position | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| £0 | 2011-12 | 2010-11 | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Non current assets | 11,044 | 11,143 | Not set | Not set | Not set | Not set | Not set |
| Current assets | 35,928 | 32,878 | Not set | Not set | Not set | Not set | Not set |
| Liabilities due within one year | -10,179 | -9,668 | Not set | Not set | Not set | Not set | Not set |
| Liabilities due after more than one year | -161 | -331 | Not set | Not set | Not set | Not set | Not set |
| Net assets and shareholders’ funds | 36,632 | 34,022 | Not set | Not set | Not set | Not set | Not set |