TIDMRMG
RNS Number : 3794C
Royal Mail PLC
18 June 2021
Royal Mail plc
(Incorporated in England and Wales)
Company Number: 8680755
LSE Share Code: RMG
ISIN: GB00BDVZYZ77
LEI: 213800TCZZU84G8Z2M70
18 June 2021
Publication of Annual Report and Financial Statements 2020-21
and 2021 Notice of Annual General Meeting
Royal Mail plc (the Company) announces the following documents
have today been posted or otherwise made available to
shareholders:
-- Annual Report and Financial Statements for the year ended 28 March 2021;
-- Notice of 2021 Annual General Meeting; and
-- Form of Proxy for the 2021 Annual General Meeting.
The above documents may also be viewed on the Royal Mail website
at: https://www.royalmailgroup.com/investors/annual-reports and
https://www.royalmailgroup.com/investors/annual-general-meetings
In accordance with Listing Rule 9.6.1R, a copy of each of these
documents will be uploaded to the National Storage Mechanism and
will be available for viewing shortly at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
The 2021 Annual General Meeting (AGM) will be held on Wednesday
21 July at 11.00 at Mail Rail at The Postal Museum, 15-20 Phoenix
Place, London, WC1X 0DA . We have also made arrangements to enable
all shareholders to attend and participate virtually. Instructions
on how to do this are set out in the 2021 Notice of AGM.
We strongly encourage shareholders not to attend the AGM in
person but instead attend and participate virtually. We believe
this approach is appropriate to protect the health and wellbeing of
our shareholders, employees and the wider communities in which we
operate.
A condensed set of the Company's financial statements and
information on important events that have occurred during the
financial year and their impact on the financial statements, and a
description of principal risks and uncertainties facing the Group
were included in the Company's Full Year Results 2020-21
announcement on 20 May 2021.
This, together with the information set out below, which is
extracted from the Annual Report and Financial Statements 2020-21
(Annual Report 2020-21), constitutes the information required by
Disclosure Guidance and Transparency Rule 6.3.5R, which is required
to be communicated to the media in full unedited text through a
regulatory information service.
This announcement is not a substitute for reading the full
Annual Report 2020-21. Any page or note references in the text
below refer to those in the Annual Report 2020-21.
Enquires:
Investor Relations
John Crosse
Email: investorrelations@royalmail.com
Royal Mail investor relations line: 020 7449 8183
Media Relations
Helen Reynoldson
Phone: 07483 302 245
Royal Mail press office: press.office@royalmail.com
Company Secretary
Mark Amsden
Phone: 020 7449 8289
Email: cosec@royalmail.com
RELATED PARTY INFORMATION
Related party transactions
During the reporting year the Group entered into transactions
with related parties as follows:
52 weeks 52 weeks
2021 2020
GBPm GBPm
----------------------------------------------------- -------- --------
Sales/recharges to:
RMPP - Defined benefit pension plan (administration
and investment service recharge) 7 6
Mallzee Ltd 1 -
----------------------------------------------------- -------- --------
Purchases/recharges from:
Associate undertaking (Quadrant Catering Limited) (4) (7)
Amounts owed to:
Associate undertaking (Quadrant Catering Limited) - (1)
----------------------------------------------------- -------- --------
Balances outstanding at the reporting year end are unsecured,
interest free and settlement is made by cash.
Key management compensation
52 weeks 52 weeks
2021 2020
GBP000 GBP000
----------------------------- -------- --------
Short-term employee benefits (3,037) (5,083)
Post-employment benefits (10) (30)
Other long-term benefits (267) (272)
Termination benefits (1,233) -
Share-based payments (1,339) (1,004)
----------------------------- -------- --------
Total (5,886) (6,389)
----------------------------- -------- --------
Key management are considered to be the Executive and
Non-Executive Directors of Royal Mail plc, plus any other Persons
Discharging Manageria--l Responsibilities. Remuneration relates to
the period for which they are key management.
The ultimate parent and principal subsidiaries
Royal Mail plc is the ultimate Parent Company of the Group. The
Consolidated Financial Statements include the financial results of
Royal Mail Group Limited and the other principal subsidiaries
listed below. The reporting year end for these entities is 28 March
2021 unless otherwise indicated.
% equity % equity
Country of interest interest
Company Principal activities incorporation 2021 2020
---------------------------------- ------------------------ --------------- --------- ---------
Parcel services holding
General Logistics Systems B.V.(1) company Netherlands 100 100
Royal Mail Estates Limited Property holdings United Kingdom 100 100
Royal Mail Investments Limited Holding company United Kingdom 100 100
RM Property and Facilities
Solutions Limited Facilities management United Kingdom 100 100
---------------------------------- ------------------------ --------------- --------- ---------
(1) GLS' reporting year end date is 31 March each year. No
adjustment is made in the Financial Statements in this regard on
the basis that, irrespective of the Group's reporting year end date
(last Sunday in March) a full year of GLS results is consolidated
into the Group.
The Company has complied with section 409 of the Companies Act
2006 by including, in the Financial Statements, a schedule of
interests in all undertakings (see Note 29).
Statement of Directors' Responsibilities in respect of the
Annual Report and Financial Statements
The Directors are responsible for preparing the Annual Report
and the Group and Parent Company Financial Statements in accordance
with applicable law and regulations.
Company law requires the Directors to prepare Group and Parent
Company Financial Statements for each financial year. Under that
law they are required to prepare the Group Financial Statements in
accordance with international accounting standards in conformity
with the requirements of the Companies Act 2006 and applicable law
and have elected to prepare the Parent Company Financial Statements
in accordance with UK accounting standards and applicable law,
including FRS 101 Reduced Disclosure Framework. In addition, the
Group Financial Statements are required under the UK Disclosure
Guidance and Transparency Rules to be prepared in accordance with
International Financial Reporting Standards adopted pursuant to
Regulation (EC) No 1606/2002 as it applies in the European
Union.
Under company law the Directors must not approve the Financial
Statements unless they are satisfied that they give a true and fair
view of the state of affairs of the Group and Parent Company and of
the Group's profit or loss for that period. In preparing each of
the Group and Parent Company Financial Statements, the Directors
are required to:
- Select suitable accounting policies and then apply them consistently.
- Make judgements and estimates that are reasonable, relevant and reliable.
- For the Group Financial Statements, state whether they have
been prepared in accordance with international accounting standards
in conformity with the requirements of the Companies Act 2006 and
International Financial Reporting Standards adopted pursuant to
Regulation (EC) No 1606/2002 as it applies in the European
Union.
- For the Parent Company Financial Statements, state whether
applicable UK accounting standards have been followed, subject to
any material departures disclosed and explained in the Parent
Company Financial Statements.
- Assess the Group and Parent Company's ability to continue as a
going concern, disclosing, as applicable, matters related to going
concern.
- Use the going concern basis of accounting unless they either
intend to liquidate the Group or the Parent Company or to cease
operations or have no realistic alternative but to do so.
The Directors are responsible for keeping adequate accounting
records that are sufficient to show and explain the Parent
Company's transactions and disclose with reasonable accuracy at any
time the financial position of the Parent Company and enable them
to ensure that its Financial Statements comply with the Companies
Act 2006. They are responsible for such internal control as they
determine is necessary to enable the preparation of Financial
Statements that are free from material misstatement, whether due to
fraud or error, and have general responsibility for taking such
steps as are reasonably open to them to safeguard the assets of the
Group and to prevent and detect fraud and other irregularities.
Under applicable law and regulations, the Directors are also
responsible for preparing a Strategic Report, Directors' Report,
Directors' Remuneration Report and Corporate Governance Statement
that complies with that law and those regulations.
The Directors are responsible for the maintenance and integrity
of the corporate and financial information included on the
Company's website. Legislation in the UK governing the preparation
and dissemination of financial statements may differ from
legislation in other jurisdictions.
Audit information
The Directors confirm that, so far as they are aware, there is
no relevant audit information (as defined in section 418 of the
Companies Act 2006) of which the auditor is unaware and that each
Director has taken all reasonable steps that they ought to have
taken as a director to make themselves aware of any relevant audit
information and to establish that the auditor is aware of that
information.
Responsibility statement of the Directors in respect of the
annual financial report
We confirm that to the best of our knowledge:
- The Financial Statements, prepared in accordance with the
applicable set of accounting standards, give a true and fair view
of the assets, liabilities, financial position and profit or loss
of the Company and the undertakings included in the consolidation
taken as a whole.
- The Directors' Report and the Strategic Report include a fair
review of the development and performance of the business and the
position of the Company and the undertakings included in the
consolidation taken as a whole, together with a description of the
principal risks and uncertainties that they face.
We consider that the Annual Report and Financial Statements,
taken as a whole, are fair, balanced and understandable and provide
the information necessary for shareholders to assess the Group's
position and performance, business model and strategy.
This responsibility statement was approved by the Board of
Directors and is signed on its behalf by:
Keith Williams
Non-Executive Chair
Mick Jeavons
Group Chief Financial Officer
19 May 2021
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END
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June 18, 2021 06:00 ET (10:00 GMT)
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