Issue - meetings

This report invites the Panel to view the annual accounts of Aequus Developments Limited (ADL), Aequus Construction Limited (ACL) and Visit Bath.

The Corporate Director introduced this report to the Panel. He informed them that Tim Richens (ADL) and David Haywood (Visit Bath) were present should they have any specific questions.

He explained that the draft ADL and ACL Accounts were approved by the company Board on 6th June 2019 and the Shadow Holding Company Board on 19th June 2019. He added that they have been subject to independent audit by the appointed auditors, Monahans, and their report is included in both sets of accounts. He stated that the Audited Accounts were then approved by the company AGM (with the Leader as Shareholder) on 12th July 2019.

He said that the Visit Bath 2018/19 final accounts were approved by the Board on the 9th September 2019 and that they have been subject to independent audit by the appointed auditors, Moore Stephens.

Councillor Andrew Furse noted the £53k improvement on the prior year’s accounts for Visit Bath.

David Haywood said that he believed that figures will improve again this coming year. He thanked Simon Addison and Andy Rothery from the Council for their work. He acknowleged that a substantial amount of money was still owed to the Council, but there was a commitment to this being repaid.

The Panel RESOLVED to;

(i)  Note the ADL 2018/19 year end audited accounts

(ii)  Note the ACL 2018/19 year end audited accounts

(iii)  Note the Visit Bath 2018/19 year end audited accounts