Corporate report
Note 15
Updated 21 August 2013
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| 15. Other financial assets | |||||||
|---|---|---|---|---|---|---|---|
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| The Core Department holds investments which include loans to the LHA London Limited and to the Bridges Social Entrepreneurs Fund LP which invests in social enterprises and public dividend capital held in the Government Procurement 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 |
| £0 | Public Dividend Capital in Central Office of | Public Dividend Capital in Government | Loan to LHA | Not set | Loan to Bridges Social | Not set | Total |
| Not set | Information | Procurement Service | London Limited | Not set | Entrepreneurs Fund | 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 |
| Balance at 1 April 2011 | 265 | 350 | 324 | 1 | 554 | 2 | 1,493 |
| Additions | - | - | - | Not set | 343 | Not set | 343 |
| Impairment | - | - | - | Not set | -128 | Not set | -128 |
| Loan repayments | -265 | - | -20 | Not set | - | Not set | -285 |
| Balance at 31 March 2012 | - | 350 | 304 | 1 | 769 | 2 | 1,423 |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Additions | - | - | - | Not set | 444 | Not set | 444 |
| Impairment | - | - | - | Not set | -159 | Not set | -159 |
| Loan repayments | - | - | -20 | Not set | - | Not set | -20 |
| Balance at 31 March 2013 | - | 350 | 284 | 1 | 1,054 | 2 | 1,688 |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Of which at 31 March 2013 | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Current liability | - | - | 284 | Not set | - | Not set | 284 |
| Non current liability | - | 350 | - | Not set | 1,054 | Not set | 1,404 |
| Balance at 31 March 2013 | - | 350 | 284 | Not set | 1,054 | Not set | 1,688 |
| 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 | |
| Current liability | - | - | 20 | Not set | - | Not set | 20 |
| Non current liability | - | 350 | 284 | Not set | 769 | Not set | 1,403 |
| Balance at 31 March 2012 | - | 350 | 304 | Not set | 769 | Not set | 1,423 |
| 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 LHA London Ltd, is secured by a debenture dated 23 July 1986 and is interest free. The 12 month’s written notice of termination of the Loan Agreement pursuant to clause 10 of the Loan Agreement was given on 21 June 2012. | 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 |
| 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 |
| 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 | LHA | Bridges Social | Not set | Not set | Not set | Not set | Not set |
| Not set | London Limited Loan | Entrepreneurs | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | 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 |
| Net assets at 1 April 2011 | - | 554 | 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 | - | 804 | 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 2013 | - | 10,541 | 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 The department holds a 33.27% share of the total net assets and partnership funds amounting to £1,054,121. | 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 |
| Extracts from Government Procurement Service’s Accounts for the year ended 31 March 2013 | 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 comprehensive income | Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| £0 | 2012-13 | 2011-12 Restated1 | 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 | 41,613 | 54,198 | 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 | 8,143 | 3,016 | Not set | Not set | Not set | Not set | Not set |
| Finance income | 93 | 60 | Not set | Not set | Not set | Not set | Not set |
| Surplus for the financial year | 8,236 | 3,076 | Not set | Not set | Not set | Not set | Not set |
| Dividend payable to Cabinet Office | -2,615 | -2,379 | Not set | Not set | Not set | Not set | Not set |
| Contribution to ERG activities | -2,880 | - | Not set | Not set | Not set | Not set | Not set |
| Retained surplus for the financial year | 2,741 | 697 | Not set | Not set | Not set | Not set | Not set |
| Adjustment to reserves PCoE transfer | 874 | 1,875 | Not set | Not set | Not set | Not set | Not set |
| Net gain on revaluation of property, plant and equipment | 1,008 | - | Not set | Not set | Not set | Not set | Not set |
| Comprehensive income for the financial year | 4,623 | 2,572 | 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 | 2012-13 | 2011-12 Restated1 | 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 | 12,579 | 11,044 | Not set | Not set | Not set | Not set | Not set |
| Current assets | 35,023 | 35,928 | Not set | Not set | Not set | Not set | Not set |
| Liabilities due within one year | -6,266 | -10,217 | Not set | Not set | Not set | Not set | Not set |
| Liabilities due after more than one year | -119 | -161 | Not set | Not set | Not set | Not set | Not set |
| Net assets and shareholders’ funds | 41,217 | 36,594 | 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 Prior year figures restated due to the transfer of Procurement Centre of Excellence to the Government Procurement Service in October 2012. | Not set | Not set | Not set | Not set | Not set | Not set | Not set |