Monday, 16 January 2012

A4e's accounts - revelations

The Telegraph has just published an article headed "A4e pays £1m to former chief executive". That was the pay-out to Robert Martin, who left A4e in September 2010 after 3 years with them. The million was on top of £304,000 remuneration. The Telegraph has had a good look at the accounts, which show that A4e's top management got £4.7m and the company also paid out £11m in dividends. (Since Emma Harrison owns 85% of the shares that's £9.35m to her.)
It's well worth reading the article. The paper has kept a neutral tone but the facts are all there.
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6 comments:

  1. Anonymous16 January 2012 at 12:14

    Is there an error in the article regarding tax?

    How does A4e get away with paying so much tax?

    £15m+ profits (pre tax) but only just under £300,000 tax and legal bill

    Surely tax is approx 20% .. I make that £3m?

    Must have dodgy "expenses" to lower it that much?!

    ReplyDelete
  2. historian16 January 2012 at 13:51

    Perhaps they pay tax on their overseas earnings in the country where it's earned.

    ReplyDelete
  3. The Anonymouse16 January 2012 at 23:23

    The company, whose slogan is “improving people’s lives”, also paid out almost £11m in dividends, up from £2.7m the year before.

    So they more than quadrupled the income they got in ONE year.m How many people could be helped with that £11 million, how many people could be helped with the £1 million to him. This is the problem, they are taking money.

    ReplyDelete
  4. Anonymous24 January 2012 at 00:24

    I thought this was a social enterprise company and profit were to be reinvested back into the social enterprise and should not be delivering large pay and bonuses to the management. There seems to be very large amounts of moneys being hived of for the benefit of the companies owners and not for the benefit of society. They should stop pretending that they are a social enterprise if that is the case. They should not be avoilding tax either due to the social enterprise status if they intend to continue paying large salaries to management. There should be stricter rules of the percent of income reinvested for social enterprises.

    ReplyDelete
  5. historian24 January 2012 at 00:37

    They've never said they were a "social enterprise". The papers have sometimes made that mistake. They use the phrase "social purpose company".

    ReplyDelete
  6. Anonymous24 January 2012 at 01:04

    They have not brief their staff properly then i have hear a number of staff refer to A4e as a social enterprise

    ReplyDelete

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