THE ALEXANDER BEARD GROUP PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2012
- 26 -
24. OPERATING LEASE COMMITMENTS
At 30 November 2012 the Group had annual commitments under non-cancellable operating leases as
follows:
Land and buildings
Other
2012
2011
2012
2011
Group
£
£
£
£
Expiry date:
Within 1 year
9,000
-
1,089
-
Between 2 and 5 years
9,000
19,000
3,906
1,867
After more than 5 years
57,100
54,700
-
-
At 30 November 2012 the Company had annual commitments under non-cancellable operating leases
as follows:
Land and buildings
Other
2012
2011
2012
2011
Company
£
£
£
£
Expiry date:
Within 1 year
-
-
-
1,180
Between 2 and 5 years
-
-
-
1,556
After more than 5 years
-
-
-
51,000
25. RELATED PARTY TRANSACTIONS
The company has been under the control of Mr P D Beard, the managing director and majority
shareholder, throughout the current and previous years. The company has taken advantage of the
exemption in Financial Reporting Standard 8 from disclosing transactions with other members of the
group.
Mr Beard stands as guarantor of the company's bank borrowings. Mr Beard received dividends totalling
£12,500 (2011: £25,000) from a subsidiary of the company.
At the start of the year the company and group owed Mr Beard £53,130 by way of a director's loan
account. As at 30 November 2012 the balance on this loan account was £877 owed to Mr Beard by the
company and group.
During the year the company received commissions amounting to £29,947 (2011: £21,746) from
Alexander Beard (Australia) Pty Ltd, a company incorporated in Australia, in which Alexander Beard
Group Plc has a 50% interest.
During the year the company received fees of £24,000 (2011: £24,000) from, and recharged expenses
of £105,286 (2011: £125,398) to Alexander Beard LLP, a partnership in which the company has a 40%
interest. During the year commission of £618,344 (2011: £609,000) was paid by the company to
Alexander Beard LLP. At the year end the company was owed £19,569 (2011: £10,722) by Alexander
Beard LLP.
At the year end the company was owed £136,018 (2011: £106,421) by ABG Investments Ltd, a 37.%
(2011: 36.3%) shareholder in the company Mr Beard is the director and majority shareholder of ABG
Investments Ltd. During the year the company paid commission amounting to £36,678 (2011: £36,677)
and recharges expenses of £29,446 (2011: £6,000) to ABG Investments Ltd.
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