The Queen’s Own Royal West Kent Regiment Museum Trust Committee

8 February 2019

Is the final decision on the recommendations in this report to be made at this meeting?

Yes

 

Accounts 2017/18

 

Final Decision-Maker

The Queen’s Own Royal West Kent Regiment Museum Trust Committee

Lead Head of Service

Head of Regeneration & Economic Development

Lead Officer and Report Author

Paul Holland, Senior Finance Manager (Client)

Classification

Public

Wards affected

All

 

 

 

This report makes the following recommendations to this Committee:

1.   That the Committee approves the amended accounts for the year ending 31st March 2018.

 

 

 

This report relates to the following corporate priorities:

·         Keeping Maidstone Borough an attractive place for all – ensuring that there are good leisure and cultural attractions.

 

 

 

Timetable

Meeting

Date

The Queen’s Own Royal West Kent Regiment Museum Trust Committee

8 February 2019



Accounts 2017/18

 

 

1.        PURPOSE OF REPORT AND EXECUTIVE SUMMARY

 

1.1     Attached at Appendix 1 are the accounts for the year ending 31st March 2018.

 

1.2     These are an amended set of accounts which reflect the changes that the Committee requested at the meeting on 22 January 2019.

 

 

2.        ACCOUNTS 2017/18

 

2.1     An amended set of accounts are attached at Appendix 1. These now include entries that reflect the payment of the £1,273 service charge from the donations box. As requested the balance due of £727 will be paid from the balance in the bank account, and as this payment will be made in 2018/19 a creditor figure for this amount is shown on the Balance Sheet. 

                                                                                               

2.2     Following discussions with the Museum Director it appears that there was an understanding that the donation box could be used to pay for items such as the service charge, and a decision was made to make the payment directly to the Council rather than via the Trust bank account. For the purposes of clarity it may be more appropriate in future for any such payments to go via the Trust bank account.                                        

 

2.3     With regards to the settlement of the balance of £727 this amount was not formally written off. However, it had not been considered as a significant figure in the context of the museum budget as a whole, and had therefore not been actively pursued. 

 

                                                                  

3.        PREFERRED OPTION AND REASONS FOR RECOMMENDATIONS

 

3.1     It is recommended that the Committee approves the Accounts.

 

 

4.       NEXT STEPS: COMMUNICATION AND IMPLEMENTATION OF THE DECISION

 

4.1    The income and expenditure figures will be submitted to the Charity Commission.                                                                                    

 

 

 

 

 

 

 

 

 

5.       CROSS-CUTTING ISSUES AND IMPLICATIONS

 

 

Issue

Implications

Sign-off

Impact on Corporate Priorities

There are no additional implications arising from this report.

 

Risk Management

The approval of the annual

accounts is a fundamental part

of the overall financial

management of the Trust.

Senior Finance Manager (Client)

Financial

The Trust needs to ensure it has sufficient resources to meet any ongoing commitments

Senior Finance Manager (Client)

Staffing

There are no additional implications arising from this report.

 

Legal

There are no additional implications arising from this report. Under the Council’s Constitution the Committee as Corporate Trustee is responsible for all matters relating to the Charity with the exception of daily management. Law applicable to charities in England and Wales requires the trustee to prepare financial statements for each financial year which give a true and fair view of the Charity’s financial activities during the year and of its financial position at the end of the year. This update report assists in meeting those requirements 

 

There are no further implications arising from this report.

Team Leader (Corporate Governance), MKLS

Equality Impact Needs Assessment

No impact identified.

Equalities and Corporate Policy Officer

Environmental/Sustainable Development

There are no additional implications arising from this report.

 

Community Safety

There are no additional implications arising from this report.

 

Human Rights Act

 There are no consequences arising from the recommendation that adversely affect or interfere with individuals’ rights and freedoms as set out in the Human Rights Act 1998.  

Team Leader (Corporate Governance), MKLS

Procurement

There are no additional implications arising from this report.

 

Asset Management

There are no additional implications arising from this report.

 

 

 

 

 

6.        REPORT APPENDICES

 

The following documents are to be published with this report and form part of the report:

·         Appendix A: Accounts 2017/18

 

 

7.        BACKGROUND PAPERS

 

None.