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69 17. Capital and other commitments 17.1 Capital commitments 2011-2012 2010-2011 £’000 £’000 Contracted capital commitments at 31 March not otherwise included in these financial statements Property, plant and equipment 20 0 Intangible assets 0 0 20 0 17.2 Commitments under leases 17.2.1 Operating leases Total future minimum lease payments under operating leases are given in the table below for each of the following periods. 2011-2012 2010-2011 £’000 £’000 Obligations under operating leases for the following periods comprise: Buildings Not later than one year 352 352 Later than one year and not later than five years 704 1,056 Later than five years 0 0 1,056 1,408 Lease commitments relate to IPSA’s rental property and are stated inclusive of VAT. The total rental expenditure recognised in 2011-12 is £352k. 17.2.2 Finance leases IPSA does not hold any finance leases. 17.3 Other financial commitments IPSA has not entered into any non-cancellable contracts or entered into any quantifiable guarantees, indemnities or provided any letters of comfort. 18. Contingent liabilities disclosed under IAS 37 There are no contingent liabilities that require disclosure under IAS 37. IPSA Annual Report 2011–2012
70 19. Losses and special payments A special payment of £46.25 (2010-11 £29,146) was made to a member of staff for bank charges incurred as a result of a payroll processing error. 20. Related-party transactions IPSA has no direct or indirect sponsorship or agency relationships with any other public body, private body or company, with the exception of Parliament itself. IPSA has had a small number of transactions with other government departments for staff secondments. No Board member, key manager or other related parties have undertaken any material transaction with IPSA during the year. Details of the remuneration of the Chair, Board Members and Senior Managers are detailed in the Remuneration Report. 21. Third-party assets IPSA does not currently hold any third party assets as defined in the Financial Reporting Manual. 22. Events after the reporting period The Accounting Officer authorised these financial statements for issue on the Comptroller and Auditor General certification date. There are no other events to report after this date and up to the accounts being laid. IPSA Annual Report 2011–2012
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Independent Parliamentary Standards
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© Crown Copyright 2012 You may re-
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PART III: Annual Report by the Comp
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6 Chair’s Introduction IPSA has c
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8 to meet our statutory responsibil
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10 1 Annual Report IPSA Annual Repo
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12 claims and increasing the propor
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14 main review of MPs’ pay and pe
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16 also made a range of changes to
Page 19 and 20: 18 responded to 100% of the 98 Free
Page 21 and 22: 20 made over this period. These wil
Page 23 and 24: 22 2. ipsa - who we are and what we
Page 25 and 26: 24 12 MPs’ pay is set by IPSA. IP
Page 27 and 28: 26 Benefactor Fellow at his old col
Page 29 and 30: 28 2 Annual Accounts IPSA Annual Re
Page 31 and 32: 30 The Speaker’s Committee, Chair
Page 33 and 34: 32 Waste Area Actual Performance No
Page 35 and 36: 34 Use of Resources The following t
Page 37 and 38: 36 C Remuneration Report The follow
Page 39 and 40: 38 IPSA CEO and Directors Reporting
Page 41 and 42: 40 The CETV figures, and the other
Page 43 and 44: 42 E Governance Statement 2011-12 S
Page 45 and 46: 44 Corporate Governance The Corpora
Page 47 and 48: 46 confirm that no significant gaps
Page 49 and 50: 48 F The Certificate of the Comptro
Page 51 and 52: 50 G. IPSA (Parliamentary Supply) A
Page 53 and 54: 52 Statement of Financial Position
Page 55 and 56: 54 Statement of Changes in Taxpayer
Page 57 and 58: 56 of defined contribution schemes,
Page 59 and 60: 58 1.18 Impending application of ne
Page 61 and 62: 60 4. Reconciliation of Net Cash Re
Page 63 and 64: 62 8. Staff numbers and related cos
Page 65 and 66: 64 9. IPSA Operational Costs 2011-1
Page 67 and 68: 66 11. Intangible assets Intangible
Page 69: 68 15. Trade payables and other cur
Page 73 and 74: 72 3 Annual Report by the Complianc
Page 75 and 76: 74 Speaker of the House and the Chi
Page 77: 76 Table 1: Summary of complaints r
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