Emma Harrison was paid £1.5 million in dividends when she stepped down as Chair in February. There were no dividends paid after that, and no more will be paid up to March 2013, because they need to invest in the Work Programme. It was an expensive year. The parent company made a loss of £1,007,000 after dividends were paid, compared to a profit of £15,158,000 in the previous year. Actual revenue was significantly down. In the UK it was £127,126,000 compared to £215,616,000 in the year. Revenue from Australia was up a lot because of the acquisition of a company there.
The preamble declares that they pay the Living Wage and intend to raise pay according to new recommendations in April 2013. They have chosen to follow the Hutton Review of Fair Pay and pay the Chief Exec no more than 10x median adult full time salary. Directors' emoluments (pay etc.) for the year total £2,327,000, less than last year. The highest paid director got £416,000.
There are some bits and pieces of money spent on services, including:
- £188,000 to Andromeda Park, a conference management company owned by the Harrisons;
- £816,000 to Thornbridge Ltd for lease of property (more than the previous year);
- £81,000 to Elite Pension Scheme, of which the Harrisons are beneficiaries.
A small note tells us that on 24 April 2012 Medex Training Ltd was "struck off". This was a company acquired by A4e in 2006 - see my post from October 2009. It's been dormant for some time. I wonder what happened.
If you want to examine the full accounts, go to the Companies House website. You can download it for only £1.
So no more dividends for Emma for the time being but given the income from the Harrison's other interests, she won't go hungry.
ReplyDeleteIt might be interesting to compare these figures with other similar companies, whose names elude me at the moment!
This link shows the company's history ie Medex Training I see Mark Lovell was a Director. Peanut money so why bother continuing? http://www.companiesintheuk.co.uk/Company/AllDocuments/medex-training
ReplyDeleteMore or less the same info is available on the Companies House website for nothing, and you can download all the documents for only £1 a time, not the £4.99 of this site.
DeleteThank you very much for this article, historian, and for updating it this morning.
ReplyDeleteThat supercilious little squit Gideon can get straight back in his pram. Far from being a “skiver” who allegedly spends all morning in bed whilst the “striver” goes out to work, I went out before Gideon or Dave even woke up this morning, in order to check my bank balance at an ATM machine, to make sure that I had £2 in order to pay Companies House for Forms AA and AR01.
I need not have bothered because you have now, very kindly, updated your article to tell me what I wanted to know, which is how much more Emma has received by way of dividends since she was given the scandalous £8.6 mio dividend payment.
No wonder she wriggled when KGM tried to ask her the same question on Channel 4 News! £10.1 million of taxpayer’s money is shocking, imho. What has Joe Taxpayer received in return? A company that doesn’t seem to have met any of the Government’s performance targets.
Surely the media and the Public Accounts Committee will make a fuss about this? I hope so, anyway.
Not sure where to put this so here goes...
ReplyDeleteIt would appear that Chris Grayling wants to extend the payment by results method to the probation service:
http://news.bbc.co.uk/today/hi/today/newsid_9783000/9783289.stm
From the above BBC link:
"Under the plans, private companies and charitable groups would take over responsibility for the monitoring of some offenders - and be paid by results."
This no doubt means A4e, G4s and Serco getting the lions share of the contracts as per the WP. It also helps that they already have numerous prison contracts.
Grayling has been on the radio this morning defending this plan as well as the disastrous WP as many critics were quick to point out that the payment by results method has definitely not worked for Grayling and Smiths much vaunted scheme!
Cock-ups, spin, bamboozling and quarter-truths all round yet again!