Annual Report and Notice of AGM

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:  [e-mail]  

Royal Mail investor relations line: 020 7449 8183

Media Relations 

Helen Reynoldson

Phone: [phone]

Royal Mail press office: [e-mail]

Company Secretary

Mark Amsden

Phone: [phone]

Email:  [e-mail]    

RELATED PARTY INFORMATION

Related party transactions

During the reporting year the Group entered into transactions with related parties as follows:

	52 weeks 2021 £m	52 weeks 2020 £m
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 2021 £000	52 weeks 2020 £000
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.

Company	Principal activities	Country of incorporation	% equity interest 2021	% equity interest 2020
General Logistics Systems B.V.1	Parcel services holding 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

 

END

 

 

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