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Agenda Item No

 

The Vale of Glamorgan Council

 

Welsh Church Act Estate Committee: 1 October 2012

 

Report of the Managing Director

 

Annual Report and Accounts 2011/12

 

Purpose of the Report

1.             To consider the Annual Report and Accounts as required by the Charities Act 2011 Section 162.

Recommendations

1.             That the Annual Report and Accounts 2011/12, as set out at Appendix “A” to this report be approved, and that the Chairman be authorised to sign the same on behalf of the trustees.

Reasons for the Recommendations

1.             In accordance with the requirements of The Charities Act 2011, and the Charities (Accounts & Reports) Regulations 2008.

Background

2.             The Charities (Accounts & Reports) Regulations 2008 require that the Annual Report and Accounts should be approved by the Trustees as a body in accordance with their normal administrative procedures.

Relevant Issues and Options

3.             The Annual Report and Accounts for the year ended 31 March 2012 is set out at Appendix “A” to this report.

4.             The main features of the report, when compared to the previous year, are as follows:

·               Statement of Financial Activities

Compared with the previous year the revenue surplus fell from £10k to £7 k mainly attributable to the following:

Investment income was £4k less mainly due to the suspension of dealings and income in respect of the trusts investment in traded life policies.

Expenditure on Southerndown Home was £2k more, due mainly to marketing costs but also to increasing maintenance costs.

Grant giving was £7k less.

 

The unrestricted revenue surplus of the fund, increased by £7k as above, amounts to a total of £139k at year end.

·               Balance Sheet

Note 1.2 refers to the trusts investment in traded life policies in which dealings and payment of dividends are currently suspended.

The value of the fund at year end was £3.7m unchanged from the previous year.

5.             Subject to its approval by this committee, the document as above will be forwarded to the Council’s external auditors, Grant Thornton, for independent examination.

Resource Implications (Financial and Employment)

6.             There are no resource implications

Sustainability and Climate Change implications

7.             There are no sustainability and climate change implications.       

Legal Implications (to Include Human Rights Implications)

8.             This report is submitted in accordance with the statutory requirements of the Charities Acts' 1993 and 2011, and the Charities (Accounts and Reports) Regulations 2008

Crime and Disorder Implications

9.             There are no crime and disorder implications

Equal Opportunities Implications (to include Welsh Language issues)

10.        There are no equal opportunities implications

Corporate/Service Objectives

11.        The sole concern of the Trustees is to act in the best interest of the Trust.

Policy Framework and Budget

12.        Not applicable 

Consultation (including Ward Member Consultation)

13.        Not applicable

Relevant Scrutiny Committee

14.        None

Background Papers

None

Contact Officer

Mr AD Williams

Accountant

Directorate of Finance, ICT and Property

Tel: 01446 709250

Officers Consulted

Head of Legal Services

Responsible Officer:

Managing Director

 

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