Issue - meetings
Accounts 2016/17
Meeting: 25/01/2018 - Cobtree Manor Estate Charity Committee (Item 49)
Additional documents:
Minutes:
Mr Paul Holland, the Senior Finance Manager presented the Annual Report and Financial Statement which included the independent auditor’s report.
The Committee noted:-
·
The balance sheet as at 31 March 2017 showed net
assets of £4.3m which had reduced from £4.5m previously
and was a result of a number of movements, the most significant
being the downward revaluation of the value of the golf
course. The golf course had since been
re-let and as a result of that the valuation was expected to
increase.
·
The current cash position of £100k was
expected to rise to £215k.
Members
were minded that they had previously undertook to start to repay some of monies
back. Mr Holland stated that it would
seem prudent to wait until the final trading figures were available
at year end and then assess the situation.
Mr
Holland highlighted a couple of changes that would be made to Page
6 of the accounts, which were as follows:-
Under
Financial Review
·
Under Financial Review and Investment
Policy – the balance sheet shows
net assets at 31 March 2016 – this should read 2017
·
The words ‘Golf Course’ should be
inserted after Cobtree Manor Park in
the last sentence of that section.
·
Under Plans for Future Periods – in the last
sentence it referred to a master plan, this should be
‘capital programme’.
There
had been an assumption made by the auditors that a disputed sum
incurred by the contractor would be paid but it had not been
entered into the debtors section. Mr
Holland was requested to ask for an explanation from the auditors
as to why it had been handled in that way.
RESOLVED: That the report and financial statement for 2016/17 be approved and submitted to the Charity Commission subject to the Chairman being satisfied that the Committee’s comments and alterations have been incorporated.
Voting: Unanimous