Jersey Post Annual Report and Accounts | 2012 - States Assembly

Jersey Post Annual Report and Accounts | 2012
18. Dividends Paid and Payable
During the year £3,375,000 (2011: £Nil) dividends were paid to the shareholder.
2012 2011
£’000 £’000
Declared and paid during the year
Final for 2011 375 -
Special Dividend for 2012
_______
3,000
_______
-
_______
3,375
_______
-
Balance of Special Dividend provided for at year end (to be paid in 2013)
_______
1,500 -
Proposed for approval by shareholders at the AGM:
Final dividend for 2012 (2011)
_______
382
_______
375
19. Ultimate and Immediate Controlling Party
The ultimate and immediate controlling party is the States of Jersey, which owns 100% of the ordinary share capital.
20. Related Party Transactions
The Group provides multi-channel services to a number of different departments of the States of Jersey. Sales of £863,000
were made to departments in 2012 (2011:£998,000). As at 31 December 2012, the amount owing to the States of Jersey
was £376,000 and the amount owed from the States of Jersey was £179,000 (31 December 2011:£350,000 and £71,000
respectively). All services provided by the Group to the States of Jersey are provided on an arm’s length basis.
The following transactions have taken place on an arm’s length basis with the below companies connected with directors
of JPIL:
Director Relationship Interest Service Purchases Sales Balance@ 31/12/12
Creditor Debtor
£’000 £’000 £’000 £’000
Chris Evans Director Foreshore IT £180k £1k £23k £Nil
Limited (2011:£102k) (2011:£1k) (2011:£2k) (2011:£1k)
Gary Carroll Director St Lo Ltd Loan - - - £730,000
(2011: Nil)
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