Notes to the 17. RELATED PARTY TRANSACTIONS
The following directors of the company are also directors, keymanagement or otherwise related parties as defined by FRS 8, of companies which received grants during the period:
Grantsmade £
R E Corden (NottinghamStadium) C F Feltham(GRA - 5 stadia)
C Osborne (Gaming International - 2 stadia) (A) GMBissett (Ladbrokes - 2 stadia) K PMiller (WilliamHill - 2 stadia)
J Curran (Kinsley Greyhound Stadium)
DMacDonald (GalaCoral Group - 2 stadia) (B) WKing (Shawfield Greyhound Stadium)
133,805 765,624 281,267 360,990 430,733 180,355 357,549 132,415
A The following were directors of the company during the year: C Osborne (until 20March 2012) B The following was a director of the company during the year: DMacDonald (from23rdMay 2011) C The following was a director of the company during the year:WKing (from8th April 2011)
Grants given comprised prizemoney, integrity support and racecourse improvement grants.
It is the company’s policy that the directors concerned take no part in the awarding of racecourse improvement grants.
R E Corden, B Faulkner, C F Felthamand J Haynes, directors of the company, were also directors of Greyhound Board of Great Britain Limited during the year ended 31March 2012. Grants of £2,379,900 were made to Greyhound Board of Great Britain Limited during the year ended 31March 2012. These comprised Marketing £541,500,Welfare, £856,000, Regulatory, £908,700, IT, £40,700 and Other, £33,000.
At 31March 2012, a loan of £44,365 (2011: £44,365) was due fromGreyhound Board of Great Britain Limited to British Greyhound Racing Fund Limited. This represented an interest-free loan towards facilitating the new premises occupied by Greyhound Board of Great Britain Limited. An additional sumof £104,975 (2011: £104,975) was due fromGreyhound Board of Great Britain Limited in relation to an interest-free loan for payment of a rent deposit. This amount is due for repayment aftermore than one year. In addition, payments amounting to £nil (2011: £67,500) had been advanced to Greyhound Board of Great Britain Limited in relation to the 2011-12 grants budget, and were included in prepayments.
Financial Statements continued
18 Annual Report 2011-2012
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