Page 126 - CCB_Full-Annual-Report-2021

126 Notes to the Financial Statements 127

Key management personnel compensation 32 Ultimate parent company
The key management personnel of the company The legal title to the ordinary share capital of the
comprised the executive and non-executive company is held equally by:
directors of the Bank. The compensation of key
management personnel is shown in the following – Cambridgeshire County Council as Administering
table (see also Note 11). Authority of the Cambridgeshire Local
Government Pension Fund; and
£’000 2021 2020
– The Master or Keeper, Fellows and Scholars
Directors’ remuneration* 2,202 2,360 of the Hall of the Holy Trinity in the University
of Cambridge (commonly called Trinity Hall,
Amounts receivable under 50 – Cambridge).
long term incentive schemes
33 Subsequent events
Company contributions – 1
to defined contribution There have been no significant quantifiable events
pension plans between 31 December 2021 and the date of
approval of the financial statements which would
Provision / Payments – 109 require a change to, or additional disclosure, in
of compensation for the financial statements. The COVID-19 pandemic
loss of office
and the Ukrainian conflict continue to create an
Amounts paid to third 53 52 uncertain economic outlook across the UK and
parties in respect of globally. Management and the Board continue to
Directors’ services monitor the situation and evaluate the impact on
the Bank on a regular basis.
Total 2,305 2,522

* Emoluments of the highest paid director were £596k (2020: £524k). 34 Standards issued but not yet adopted
A number of new revised standards issued by the
International Standards Board have not yet come
Transactions with key management personnel:
into effect. None of these are expected to have a
The amounts paid to third parties in respect of material impact on the Bank’s financial statements.
director’s services relate to the non-executive
director fees for Richard Perry in 2021 and 2020. 35 Country by country reporting
These amounts were paid to Cambridgeshire County The regulations under Article 89 of the CRD
Council for 2020 and January to April 2021 and IV require the Bank to disclose the following
Cambridgeshire Local Government Pension Fund for information about the source of the Bank’s income
the period from May 2021 to December 2021.
and the location of its operations:
Caroline Fawcett, an Independent Non-Executive Requirement Disclosure
Director, is the Director of a company which had
£48k (2020: £87k) on deposit at the end of the year. Name, nature Cambridge & Counties Bank
The account earns interest at the standard rate for of activities and operates as a single entity
this type of account. geographical exclusively in the United
location Kingdom. The principal
Mike Hudson, an Executive Director, is a trustee of a activities of the Bank can be
not-for profit organisation that had £81k (2020: £76k) found in Note 1.
on deposit at the end of the year. The account earns Average number As disclosed in Note 10 to
interest at the standard rate for this type of account.
of employees the accounts. Contact Details
If you require any further information on
There were no other transactions with key Annual turnover As disclosed in the Cambridge & Counties Bank, please contact us
management personnel in 2021 (2020: nil). and profit Statement of Profit or Loss using the details below.
before tax and Other Comprehensive
There were no loans outstanding to any directors at Income on page 86. Cambridge & Counties Bank Limited
31 December 2021 (2020: nil)
Corporation As noted in the Statement Charnwood Court
tax paid of Cash Flow on page 89. 5B New Walk
Leicester
Public subsidies There were none received LE1 6TE
in the current or prior year.
0344 225 3939

[email protected]

www.ccbank.co.uk