(1) The Corporate Director of Finance and Procurement presented the latest available Statutory Accounts for those companies in which KCC had an interest.
(2) The Interim head of Internal Audit explained that an accountant had been employed to produce 2011/12 accounts for Kent Cultural Trading Ltd. She would ascertain whether accounts for this company had been produced for 2010/11 when it had been largely dormant.
(3) The Sub-Group agreed to meet again in February 2013 in order to review the 2011/12 accounts of all those companies where only the 2010/11 accounts were currently available and that it would thereafter meet in February each year in order to consider the final Statutory Accounts.
(4) RESOLVED that in respect of those companies in which the County Council has an interest:-
(a) the latest available Statutory Accounts be noted for assurance;
(b) a further meeting of the Sub-Group be held in February 2013 to review the 2011/12l Statutory Accounts for those companies where only the 2010/11 accounts are currently available; and
(c) the Sub-Group will consider the final Statutory Accounts for those companies in February each year.