The Company’s remuneration arrangements are designed to promote sound and effective risk management and do not encourage excessive risk-taking. Remuneration payments comprise a mixture of fixed salary paid monthly and a discretionary variable bonus, which is paid in cash. Total compensation includes a range of benefits associated with employment including, but not limited to, private health insurance, pension contributions and death in service insurance. Remuneration is designed to reward performance, with the overall package intended to reflect market rates for any given role. The Company’s remuneration structure comprises a fixed salary element, which is intended to reflect an employee’s professional experience and organisational responsibilities and is distinct from variable remuneration which is intended to reward performance in excess of that required to fulfil the employee’s job description. Discretionary bonuses are paid following a performance review of the financial period to which they relate. An individual’s bonus award will take into account the overall success of the firm and the relevant business area and his/her contribution assessed against both financial and non-financial criteria.
Included within variable remuneration is an EOT bonus of £3,600 paid to each eligible employee. The payment qualified for the income tax exemption available under the employee ownership trust legislation.
The total remuneration paid to staff in the financial year ended 31 March 2026 was £2,288,444 (2025: £1,905,483) comprising £1,409,108 (2025: £1,403,400) fixed remuneration and £879,336 (2025: £502,083) variable remuneration.
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