Corporate report
Note 15
Updated 21 August 2013
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| 15. Other financial assets |
|---|
| 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. |
| £0 |
| Balance at 1 April 2011 |
| Additions |
| Impairment |
| Loan repayments |
| Balance at 31 March 2012 |
| Additions |
| Impairment |
| Loan repayments |
| Balance at 31 March 2013 |
| Of which at 31 March 2013 |
| Current liability |
| Non current liability |
| Balance at 31 March 2013 |
| Of which at 31 March 2012 |
| Current liability |
| Non current liability |
| Balance at 31 March 2012 |
| All ‘Other financial assets’ are held by the core Department. |
| 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. |
| 2 For information on loan commitments, see Notes 22 and 31. |
| The Department’s share of the assets and results of the above bodies is as summarised below: |
| £0 |
| Net assets at 1 April 2011 |
| Turnover |
| Surplus for the year (before financing) |
| Net assets at 31 March 2012 |
| Turnover |
| Surplus for the year (before financing) |
| Net assets at 31 March 2013 |
| Turnover |
| Surplus for the year (before financing) |
| 1 The department holds a 33.27% share of the total net assets and partnership funds amounting to £1,054,121. |
| Extracts from Government Procurement Service’s Accounts for the year ended 31 March 2013 |
| Extracts from the statement of comprehensive income |
| £0 |
| Turnover |
| Operating surplus |
| Finance income |
| Surplus for the financial year |
| Dividend payable to Cabinet Office |
| Contribution to ERG activities |
| Retained surplus for the financial year |
| Adjustment to reserves PCoE transfer |
| Net gain on revaluation of property, plant and equipment |
| Comprehensive income for the financial year |
| Extracts from the statement of financial position |
| £0 |
| Non current assets |
| Current assets |
| Liabilities due within one year |
| Liabilities due after more than one year |
| Net assets and shareholders’ funds |
| 1 Prior year figures restated due to the transfer of Procurement Centre of Excellence to the Government Procurement Service in October 2012. |