Unpacking Centrica’s accounts in my vain attempt to find the UK profit

A few days ago, I emailed Centrica to tell them that I could not determine what their UK profit was from their accounts. I made the perfectly logical statement:

We have a regulator for energy who does even have the gumption to demand that these companies produce data fit for regulatory purposes that they put on public record. Without demanding this information it is a logical conclusion that  company like Centrica that owns British Gas does not reveal enough UK data in its accounts to show just what it makes in this country, making a mockery of its name.

Nick Luff from Centrica said I was wrong, saying in his mail that:

As discussed, can I refer you to page 37 of our 2012 annual report which shows the split of our pre-tax profits and tax charge between the UK and the rest of the world.

Well, I looked at page 37 and this is what I found:
No mention of the UK whatsoever
Now forgive the dripping sarcasm, but I can’t see any reference to the UK, can you?
And even if I could I probably would then spend hours trying, and failing, to reconcile this number against something which had actually been audited.
So I would appreciate it if Centrica didn’t waste any more of my time and now adopt county-by-county reporting for my benefit in future. And if they could ensure that this non-standard element of the accounts is audited for me that would, candidly, be the minimum recompense for such a negligent waste of my time.
You see, I’ve spent the best part of two days looking at these accounts and I’m baffled. So Centrica must be behaving immorally in some manner, though I know not what exactly.
I mean, if they did I would candidly be the laughing stock of the accounting, political economist and Justice for Taxes communities. And rightly so!
Thankfully, I am absolutely certain that is not the case.
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One thought on “Unpacking Centrica’s accounts in my vain attempt to find the UK profit

  1. Let’s be clear, Centrica’s handling of this matter is absolutely galling, as to be expected by any firm which seeks profits, not people, as there motivating goal.

    Let’s unpack this shall we.

    For the record, this is about Centrica’s handling of this entire matter As it relates to the jots and tittles of numbers, audited accounts, standardised reporting, in the strict sense, and legality, Centrica is adhering to the law, nothing more, nothing less. Where Centrica fails is complying with the spirit and morality of other laws. Laws which have yet to be enacted, yet none the less should carry the exact same weight as if so. Why? Because civil-society and common decency demands it.

    Civil-society is the last bulwark against the type of neo-liberal mindset, a mindset in which the whims and wants of consumers are placed above that of grant requirements needed by civil-society. White papers, books (available on Amazon), symposia and conferences do not pay for themselves. I have held lengthy discussions with leading members of civil-society in which they recount, in despair, trips, begging bowl in hand mind you, to Paris seeking proper funding, nothing more, nothing less, to carry out the work so vital to a socially democratic society. These leading individuals, thoughtful and profound minds all, sometimes have to read the Daily Mail over the shoulders of strangers on the Eurostar on said trips to Paris. Is this how we treat the caring, and nurturing, classes who, rightfully, seek the betterment of society alongside a signed and fully-funded grant agreement?

    Centrica’s treatment of Murphy takes one’s breath away. I know as I have experienced the very same from such companies. When we write these firms with specific requests, they are nearly all flatly rejected. This is nothing more, or less, than a dagger to the heart of transparency. Democracy demands transparency. Therefore, quite frankly, one is left with no other understanding, these firms want to kill democracy, and through that action, civil-society as well. Thus eliminating the need for signed and fully-funded grant agreements.

    Their neo-liberal agenda is hiding in plain sight.

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