63 Finsbury Food Group Annual Report & Accounts 2019


Notes to the Consolidated Financial Statements


6. Staff Numbers and Costs


The monthly average number of persons employed by the Group including Directors and excluding agency staff during the year, analysed by category, was as follows:


Number of employees 2019 Production Selling and distribution Administration, technical, new product development The aggregate payroll costs of these persons were as follows:


2019 £000


Wages and salaries Share option charges Social security costs


Charge in respect of defined benefit plans Charge in respect of defined contribution pension plans 7. Remuneration of Directors


2019 £000


Fees Executive salaries Bonuses and benefits


310 738 -


1,048


2018 £000


306 711 523


1,540


The aggregate of emoluments and amounts receivable under long-term incentive Schemes of the highest paid Director was £432,000 (2018: £718,000), there were no Company pension contributions made to a defined contribution Scheme during the current or prior year. Bonuses include cash bonus of £nil (2018: £223,000) and shares issued with a total cost of £nil (2018: £80,000). There were no share options exercised in the period by the highest paid Director.


There were no retirement benefits accruing to Directors during the current or previous year. The emoluments paid to Directors were as follows:


Fees £000


P Baker R Beveridge


S A Boyd – paid S A Boyd – shares J G Duffy – paid J G Duffy – shares R P E Duignan M J Millard Z Morgan


85 56 - - - -


57 53 59


310


Salary £000


- -


294 -


420 - - - -


714


Benefits £000


- -


12 -


12 - - - -


24


Annual bonus £000


- - - - - - - - - -


29 June 2019 £000


85 56


306 -


432 -


57 53 59


1,048 Year ended


Year ended 30 June 2018 £000


85 54


458 58


638 80 58 53 56


1,540


No shares were issued during the year to J G Duffy (2018: 74,441) or to S A Boyd (2018: 54,088). During the year awards over 585,409 shares under the long-term incentive plan (LTIP) were granted to Directors in the form of nil cost options (2018: 753,469). The vesting of the awards is conditional upon performance conditions over a three-year period commencing 1 July 2018 and are subject to a further two-year holding period.


72,937 697


6,828 200


1,681 82,343


2018 £000


68,330 1,138 6,469 200


1,372 77,509


2,541 145 376


3,062 2018


2,513 173 302


2,988


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