(1) The Chairman informed the Sub-Committee that he had been the Chairman of Produced in Kent between the years 2006 and 2009.
(2) The Sub-Committee considered the latest available Statutory Accounts for those companies in which KCC had an interest
(3) In response to a question from Mr Birkby, the Chief Accountant said that the reason that income and deficit details were not available for some of the companies set out in Appendix A of the report was because Companies House would only provide the balance sheets for small companies which traded in small sums.
(4) The Sub-Committee agreed by 2 votes to 1 that it did not wish to see basic income and deficit details for the small companies in future as their full accounts would have been examined by their external auditors and no reputational risk to KCC had been identified.
(5) The Chairman noted the large number of Directors at Trading Standards South East Ltd and asked for a report to a future meeting on the effectiveness of its operations.
(6) The Sub-Committee asked for future reports on the statutory accounts to include an explanation in each instance of the payments made by KCC to the company, the purpose of the company and the nature and degree of interest that KCC had in that company.
(7) RESOLVED that, subject to (5) and (6) above, the content of the report be noted for assurance.