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Notes to the Company Financial Statements
For the year to 28 February 2011
81
Financial Statements
L. Trade and Other Payables
2011
2010
£’000
£’000
Trade payables
510
398
Accruals
893
439
Deferred consideration
5,000
5,000
Amounts owed to subsidiaries
8,114
5,394
Interest payable and similar charges
29
85
14,546 11,316
M. Related Party Transactions
During the year the Company has received interest from subsidiaries of
£526,510 (2010: £393,361) and dividends from subsidiaries of £18,000,000
(2010: £39,903,138). During the year the company paid interest to
subsidiaries of £62,000 (2010: £313,000). The following balances were
outstanding at period end.
The Company had loans outstanding from Stobart Biomass Products Limited
of £1,038,000 (2010: £nil) at the year end.
The Company had loans outstanding from its associate interest, Everdeal
Limited of £2,186,000 (2010: £nil) at the year end.
Year end balances with related parties are set out below:
2011
2010
£’000
£’000
Receivable from related parties:
Receivable from subsidiaries,
interest bearing loans
21,190 28,411
Receivable from subsidiaries,
non interest bearing
130,933 71,052
Receivable from associates and joint ventures
3,224
-
Total receivable from related parties
155,347 99,463
Payable to related parties:
Payable to subsidiaries, interest bearing loans
4,550
2,494
Payable to subsidiaries, non-interest bearing
3,564
2,900
Total payable to related parties
8,114
5,394
Interest is charged on interest bearing loans at rates between 2% and 3%
over base rate.
For key management personnel see Note 28.
There were no other related party transactions.