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Keepmoat Annual Report 2020

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Keepmoat has released its Group financial results for the year ending 31 October 2020.

NOTES TO THE COMPANY

NOTES TO THE COMPANY FINANCIAL STATEMENTS 30 – Trade and other receivables Year ended 31 October 2020 Year ended 31 October 2019 CURRENT £’000 £’000 Amounts due from subsidiary undertakings 238 411 The current receivable due from subsidiary undertakings comprises an amount receivable for group relief. 238 411 Year ended 31 October 2020 Year ended 31 October 2019 NON-CURRENT £’000 £’000 Amounts due from subsidiary undertakings 7,934 - 7,934 - 31 – Share capital See note 18 to the consolidated financial statements for details. 32 – Trade and other payables Year ended 31 October 2020 Year ended 31 October 2019 CURRENT £’000 £’000 Accruals and deferred income 86 40 Amounts owed to subsidiary undertakings 259 - 345 40 Accruals and deferred income represents interest accruing on the shareholder loan (note 33). Amounts owed to subsidiary undertakings are unsecured, interest free, have no fixed date of payments and are payable on demand. 114 KEEPMOAT.COM

FINANCIAL REVIEW 33 – Loans and borrowings Year ended 31 October 2020 Year ended 31 October 2019 CURRENT £’000 £’000 Shareholder loans 1,808 1,808 On 1 December 2017 the Company received a loan from its shareholders with principal amount of £10.0m, the loan was repaid on 6 December 2018. On 6 December 2018 Company received four loans from its shareholders. The new loans were made up of £8,612,000 repaid on 22 March 2019 and £1,808,000, that remains outstanding at the year-end, the loans were split in proportion of the ownership of the Company’s shareholders. The shareholder loans attracted interest at 2.5% Year ended 31 October 2020 Year ended 31 October 2019 MATURITY OF FINANCIAL LIABILITIES £’000 £’000 Less than one year 1,808 1,808 Between one and two years - - 1,808 1,808 34 – Related party disclosures Transactions with subsidiaries On 1 December 2017 the Company issued a loan to Keystone Midco Limited, a Group subsidiary company with principal amount of £10.0m, on 11 December 2018 the loan was repaid in full along with all outstanding interest. The loan bore interest at 12%, interest received during the year amounted to £nil (31 October 2019: £41,697). Transactions with investors TDR Capital LLP has effective control of 85% of the issued share capital of the Company whilst Sun Capital Partners Limited has effective control of the remaining 15%. On 1 December 2017 the Group received a loan from its shareholders with principal amount of £10.0m. The loan bore interest at 2.5% payable quarterly in arrears. The loan was repaid on 6 December 2018 and the Group received a further four loans from its shareholders. The new loans were made up of £8,502,000 repaid on 22 March 2019 and £1,808,000 and were split in proportion of the ownership of the Group’s shareholders. The shareholder loans attracted interest at 2.5%. Interest of £45,157 was charged on the shareholder loans during the year (2019: £127,142). 35 – Ultimate controlling party See note 25 to the consolidated financial statements. ANNUAL REPORT & FINANCIAL STATEMENTS 2020 115