Amended 2018 Financial Statements
At the last General Meeting we outlined to members that 2018 accounts could be amended by adding explanatory clauses to ensure the accounts fulfil the requirement of the Companies Act to present a true and fair view of the club’s financial performance and position.
These have now been filed and members or other users should read the information in the accounts within the framework of note 23 (page 16), which contains the aforementioned explanations.
Members should also be aware that the external reviewers have altered their report (pages 3,4) from an unqualified report to a qualified report with respect to maintaining proper accounting records. One of the more serious responsibilities of the managing committee both as directors of a company and trustees of a charity are to ensure proper accounting records are maintained, and the review report indicates shortcomings in this regard.
Members can be assured that despite the above unwelcome developments, the current board are committed to effective financial stewardship, which will rebuild the club’s finances and ensure trust for members in future.