Production of accounts and reports. 7.1 The Company shall provide the information referred to in clause 7.2 to the Shareholder.
7.2 The Company shall instruct its accountants to prepare a balance sheet of the Company, as at the Annual Accounts Date each year and a consolidated profit and loss account of the Company, for the 12 month financial period ending on the Annual Accounts Date each year to be presented to the Shareholder within 3 calendar months after the end of the period to which such accounts relate. The Company shall appoint an independent auditor to audit the balance sheet and profit and loss account for the Company.
7.3 The Company will provide to the Shareholder full details of any actual or prospective material change in the Business or the financial position or affairs of the Company, as soon as such details are available.
7.4 All accounts referred to in this clause shall be prepared in pounds sterling and in accordance with applicable law and generally accepted accounting standards, principles and practices in the United Kingdom.
Production of accounts and reports. 9.1 The Company shall prepare and submit to the Directors and to the Shareholder on or before 30 November in each year a detailed draft operating budget for the Company (including estimated major items of revenue and capital expenditure) for the following financial year, broken down on a monthly basis, and an accompanying cash flow forecast, together with a balance sheet showing the projected position of the Company as at the end of the following financial year.
9.2 The Company shall (with the assistance of the Council) produce a balance sheet of the Company, as at each Management Accounts Date and a profit and loss account and a projected year end surplus/deficit of the Company for each 3-month financial period ending on each Management Accounts Date, to be presented to the Shareholder within four weeks after the end of the period to which such accounts relate. The balance sheet and profit and loss account will be accompanied by a report in such format and covering such issues as may reasonably be requested by either Shareholder, this will include a summary of all items of expenditure in excess of £250,000.
9.3 The Company shall instruct its auditors to prepare and audit a balance sheet of the Company, as at the Annual Accounts Date each year and a profit and loss account of the Company, for the 12-month financial period ending on the Annual Accounts Date each year to be presented to the Shareholder at the AGM. The balance sheet and profit and loss account will be accompanied by a report of the Directors in such format and covering such issues as may reasonably be requested by the Shareholder.
9.4 The Company will provide to the Shareholder full details of any actual or prospective material change in the Business or the financial position or affairs of the Company, as soon as such details are available.
9.5 All accounts referred to in this clause shall be prepared in pounds sterling and in accordance with applicable law and generally accepted accounting standards, principles and practices in the United Kingdom.
9.6 The Company shall prepare and submit:
9.6.1 quarterly Company accounts to the Council’s Corporate Leadership Team (CLT) and the Shareholder (via the Shareholder Working Group); and
9.6.2 annual Company accounts to the Council’s Audit and Governance Committee.
Production of accounts and reports. 9.1 The Company shall instruct its auditors to prepare and audit a balance sheet of the Company, as at the Annual Accounts Date each year and a consolidated profit and loss account of the Company, for the 12 month financial period ending on the Annual Accounts Date each year to be presented to the Shareholders in accordance with the timetable set out in Schedule 2 after the end of the period to which such accounts relate.
9.2 The Company will provide to the Shareholders full details of any actual or prospective material change in the Business or the financial position or affairs of the Company, as soon as such details are available.
9.3 All accounts referred to in this clause shall be prepared in pounds sterling and in accordance with applicable law and generally accepted accounting standards, principles and practices in the United Kingdom.
9.4 The Shareholders shall procure that the Company maintains a separation of finances relating to each Council’s services in all aspects other than central management costs, which shall be apportioned as per the formula set out in paragraph 5.2 of Schedule 2.
9.5 The Board will provide such reports to the Councils as their chief executives and their respective Council Directors shall agree. The Councils shall seek to have the same reporting requirements and timings.
Production of accounts and reports. 7.1 The Company shall instruct its accountants to prepare a balance sheet of the Company, as at the Annual Accounts Date each year and a consolidated profit and loss account of the Company, for the 12 month financial period ending on the Annual Accounts Date each year to be presented to the Member within 3 calendar months after the end of the period to which such accounts relate. The Company shall appoint an independent auditor to audit the balance sheet and profit and loss account for the Company.
7.2 The Company will provide to the Member full details of any actual or prospective material change in the Business or the financial position or affairs of the Company, as soon as such details are available.
7.3 All accounts referred to in this clause shall be prepared in pounds sterling and in accordance with applicable law and generally accepted accounting standards, principles and practices in the United Kingdom.
Production of accounts and reports. 8.1 Crown Apartments shall produce a balance sheet, as at each Management Accounts Date which is to be a pre-agreed quarterly meeting and a profit and loss account which is to be at each pre-agreed quarterly meeting. The balance sheet and profit and loss account will be accompanied by a report in such format and covering such issues as may reasonably be requested by the Council.
8.2 Crown House shall produce a balance sheet, as at each Management Accounts Date which is to be a pre-agreed quarterly meeting and a profit and loss account which is to be at each pre-agreed quarterly meeting. The balance sheet and profit and loss account will be accompanied by a report in such format and covering such issues as may reasonably be requested by the Council.
Production of accounts and reports. 8.1 DevCo shall produce a balance sheet, as at each Management Accounts Date which is to be a pre-agreed quarterly meeting and a profit and loss account which is to be a at each pre-agreed quarterly meeting. The balance sheet and profit and loss account will be accompanied by a report in such format and covering such issues as may reasonably be requested by the Council.
8.2 HoldCo shall produce an annual profit and loss sheet and a balance sheet, as part of its financial year end process at each pre-agreed annual meeting. The balance sheet and profit and loss account will be accompanied by a report in such format and covering such issues as may reasonably be requested by the Council.
Production of accounts and reports. The Company shall provide the information referred to in clause 7.2 to the Shareholder.
