Page 111 - Pobl Annual Report FY25

Annual Report 2025 109
Notes to the Financial Statements
for the year ended 31 March 2025
Group
Sales
to
related
parties
Purchase
s from
related
parties
Amount
s owed
from
related
parties
Amount
s owed
to
related
parties
£’000 £’000 £’000 £’000
The Welsh Housing Partnership Ltd & WHP2 Ltd
2025 49 2,186
2024 48 2,807 - -
Terms and conditions of transactions with related parties
The Group has not provided or benefited from any guarantees for third party payables or receivables. During the year ended 31
March 2025, the Group has not made any bad debt provision in respect of amounts owed by related parties (2024: £Nil).
Rents payable to WHP and WHP2 are based upon its acquisition and funding costs in respect of properties leased. The rents
charged are reflective of the market to cover any risk around transfer pricing.
Entities over which the Group has joint control or significant
influence
The nature of the Group’s investment in The Welsh Housing Partnership Limited and WHP2 Limited is set out in note 17. The
purchases above represents rentals payable in respect of properties leased by Pobl Homes & Communities from WHP and
WHP2. The Boards of WHP and WHP2 set their rent levels to their shareholders to cover their property acquisition and funding
costs.
Pobl Group Limited received a management fee for administrative services provided to WHP and WHP2. The fee is set to cover
costs incurred in handling WHP’s and WHP2’s administration.
Key management personnel
All directors and certain employees who have responsibility for planning, directing and controlling the activities of the Group are
considered to be key management personnel. Their compensation during the year is disclosed at note 4.
Sales to key management personnel represent rents receivable from tenant directors. These are on normal terms. Amounts due
from key management personnel represent staff loans to corporate directors. These are on the terms available to all staff.
Pobl Limited has taken advantage of the exemption permitted by Section 33 “Related party transactions” contained in FRS 102,
and has therefore not disclosed transactions or balances with entities which are wholly owned members of the Pobl Group.
TPT Retirement Solutions Limited, and the City and County of Swansea are considered related parties as providers of defined
benefit pension schemes to the Group. Details on transactions with these pension providers is outlined in note 26.
31. Related Party Transactions