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16
WQ.115/2018
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY DEPUTY R.J. RONDEL OF ST. HELIER
ANSWER TO BE TABLED ON TUESDAY 10th JULY 2018
Question
Further to the Ports of Jersey Report and Accounts 2017 (R.78/2018), which appear to indicate that there are trade creditors in the region of £8.5 million, would the Minister advise the Assembly how much of this amount has been due for more than three months and state whether any amounts are due to other States of Jersey departments?
Answer
The £8.5m stated is believed to be in reference to "Trade and other payables" of which Trade creditors forms a part. This is detailed in Note 19 to the Financial Accounts in the Ports of Jersey Limited (PoJL) Annual Report 2017, as follows:-
Creditors : amounts Falling Due within One Year | 2017 |
| £,000 |
|
|
Trade creditors | 1,065 |
Accruals and deferred income | 2,437 |
Capital creditors | 1,075 |
Due to parent undertaking | 3,043 |
Corporation tax | 695 |
Other creditors | 171 |
|
|
| 8,486 |
Trade creditors are quantified as £1.065m. As stated in Note 19, £3.043m of the £8.486m is in respect of amounts due to parent undertakings i.e. States of Jersey. Of the £1.065m, £12,000 relates to amounts due for more than 3 months, but this does not relate to SoJ departments.
Ports of Jersey ("POJL") state that £3.043m is the value of monies due to the States of Jersey Treasury as detailed in the States' financial system's "Intercompany account". During 2017, as PoJL utilised the SoJ financial platform and payroll system, payments are made on PoJL's behalf in respect of creditors and payroll. PoJL then reimburses the States the following month. At the year end 2017 there were no values in the Intercompany account that were more than 3 months outstanding. PoJL initiated a standalone payroll system with effect from January 2018 and is scheduled to transition away from the States' financial platform from 2019. These balances will therefore significantly decline in following years.
The breakdown of the Intercompany account is a follows:
| £,000 |
Payroll | 1,300 |
Trade Creditor payments | 3,047 |
Debtors – amounts owed to PoJL from other SoJ Departments | (1,330) |
Other sundry | 26 |
Total | 3,043 |