206 | Just Group PLC | Annual Report and Accounts 2024
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS continued
31. GROUP ENTITIES continued
Summarised financial information for associates
31 December 2024 £m
31 December 2023 £m
Summarised balance sheet – GPUT Assets Financial investments Cash and cash equivalents
196
244
3
3
Total assets
199
247
Equity Partners capital Retained earnings
327
327
(131)
(80)
Total equity
196
247
Other payables
3
–
Total equity and liability
199
247
Year ended 31 December 2024 £m
Year ended 31 December 2023 £m
Reconciliation to carrying amount
Net assets brought forward – GPUT Total movement in retained earnings Net assets at 31 December – GPUT
247
270
(51)
(23)
196
247
Group’s share – GPUT
118
148
Group’s share – Other associates Carrying amount of associates
1
1
119
149
Year ended 31 December 2024 £m
Year ended 31 December 2023 £m
Summarised statement of comprehensive income – GPUT Fair value loss on financial investments
(43)
(15)
Distributions to unitholders
(8)
(8)
(51)
(23)
Total movement in retained earnings
32. RELATED PARTIES The Group has related party relationships with its key management personnel and subsidiary undertakings detailed in note 31. Key management personnel comprise the Directors of the Company. There were no material transactions between the Group and its key management personnel other than those disclosed below. Key management compensation is as follows: Year ended 31 December 2024 £m Year ended 31 December 2023 £m Short-term employee benefits 3 3 Share-based payments 2 2 Total 5 5
In addition there are loans owed by Directors of £0.4m (2023: £0.4m) which accrue interest fixed at 4% per annum and are repayable in whole or in part at any time.
33. ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY The Company is the ultimate Parent and Controlling Party of the Group.
34. POST BALANCE SHEET EVENTS Subsequent to 31 December 2024, the Directors proposed a final dividend for 2024 of 1.8 pence per ordinary share (2023: 1.5 pence) and together with the interim dividend of 0.7 pence per ordinary share paid in 4 October 2024 amounting to £26m (2023: £22m) in total. Subject to approval by shareholders at the Company’s 2025 AGM, the dividend will be paid on 14 May 2025 to shareholders on the register of members at the close of business on 11 April 2025, and will be accounted for as an appropriation of retained earnings in year ending 31 December 2025. On 6 February 2025 the Group repaid the remaining £155m notional of its Tier 3 subordinated debt.
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