Agenda item

This report presents the Wormwood Scrubs Charitable Trust Annual Trustee’s Report which includes the draft 2020/21 financial accounts (Appendix A).

Chris Harris, Advisor to the Trust, presented the report and provided a brief overview of the key points arising from the Statement of Account and Trustee’s report 2020/21. It was noted that the Trust delivered a surplus for the year of £48,984. This surplus was substantially underpinned by the additional income from the Kensington Aldridge Academy’s occupation of the Scrubs.  

Joe Sale (MHA MacIntyre Hudson) provided a summary of the Audit Findings report for the year ended 31^st March 2021, noting the following key points:

-       The audit was conducted remotely, and MHA MacIntyre Hudson had liaised with the finance team virtually whilst examining accounting books and records which were sent digitally.

-       MHA MacIntyre Hudson remained independent to the Trust within the meaning of regulatory and professional requirements.

-       An overview was provided on the key areas of audit focus which had been identified as part of the overall audit strategy and how they had been resolved.

-       The audit work on the financial statements was now substantially complete and the Auditors anticipated issuing an unqualified audit opinion for the year ended 31^st  March 2021 for the Charity.

-       The audit findings and the areas reviewed were outlined, these included audit misstatements, risk of fraud and error in the financial statements, accounting policies and accounting estimates.

-       The fee for the audit of the financial statement of the Trust for the year ended 31^st March 2021 was also summarised.

Miriam Shea (Co-opted Member) felt that the audit process appeared to be clearer and improved in comparison to last year. Referring to page 12 of the Trustee’s report (Appendix A) she asked for further clarification to be provided on risk 4 as part of the risk assessment schedule. In response Steve confirmed that there was no live agreement in place to repair the Wormwood Scrubs car park with the hospital.

Miriam Shea (Co-opted Member) noted that the hospital carpark lease was last renegotiated in 2013 and asked officers to ascertain when the lease was due for renewal and for this matter to be revisited at a future Committee meeting.

Action: Steve Hollingworth

Referring to the Trustee’s Annual report (Appendix A) Stephen Waley-Cohen (Co-opted Member) made suggestions to update the document with further information regarding the Compulsory Purchase Order issued by HS2, further consultation being held on the conservation management plan, protestors leaving the Scrubs in September 2021 and the discussions held with the Kensington Dragons Football Club to improve their facilities on the Scrubs. He also requested that the charity correspondent address on page 17 of the Trustee’ Annual report be updated.

Action: Steve Hollingworth

Stephen Waley-Cohen (Co-opted Member) asked for further clarification to be provided on the treatment of the rental income for the pony centre and the single-story parks depot and asked if this would be credited to the Trust. In response Chris noted that a response would be circulated to the Committee once this had been investigated.

Action: Chris Harris

RESOLVED:

That the Committee:

-       Approved the Trustee’s Annual Report, attached as Appendix A.

-       Approved the 2020/21 financial accounts for Wormwood Scrubs Charitable Trust (“the Trust”), incorporated as part of the Annual Report (Appendix A to the Annual Report).

-       Approved the management representation letter (attached as Appendix B).

-       Noted the contents of the annual risk assessment (contained in the Trustee’s report on page 12).

-       Noted that the accounts remain subject to change until the final audit opinion was issued and to delegate authority to the Assistant Director Leisure, Sport & Culture in consultation with the Chair of the Committee, to approve any changes to the 2020/21 Financial Accounts, Annual Report and the management representation letter required as part of the finalisation of the audit process.