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Issue - meetings

Statement of Accounts 2025/26 - Update and Accounting Policies

 

 

Meeting: 25/06/2026 - Audit and Governance Committee (Item 136)

136 Statement of Accounts 2025/26 - Update and Accounting Policies pdf icon PDF 72 KB

Purpose:

This report presents the accounting policies to be included in the 2025/26 Statement of Accounts. This provides Members with the opportunity to review and approve the policies in advance of the preparation of the Statement of Accounts 2025/26. Approving the accounting policies in advance of the preparation of the accounts represents best practice.

 

Recommendations:

That the Audit and Governance Committee:

  1. Considers and approves the draft accounting policies for 2025/26 included at Annex A;
  2. Further necessary amendments to the policies set out at Annex A (occurring subsequent to this meeting) are included within the draft (unaudited) and/or final (audited) Statement of Accounts when presented to this Committee.

 

Additional documents:

Minutes:

Madhu Richards, Director of Finance, presented the item, the purpose of which was to present the accounting policies to be included in the 2025/26 Statement of Accounts. The report provided Members with the opportunity to review and approve the policies in advance of the preparation of the Statement of Accounts 2025/26. Approving the accounting policies in advance of the preparation of the accounts represented best practice.

 

In her presentation the Director of Finance made the following points:

 

  • The first draft of the 2025/26 accounts had been published.
  • The accounts were based on the policies included in the report to be approved by the Committee.

 

In the discussion the Committee noted that the accounts were for 2025/26 and included a statement that the Council did not currently charge CIL. However, the collection of CIL had begun before the financial year. Officers acknowledged that this was incorrect and needed modification.

 

Councillor Sandra Simpson proposed that the Committee accept the recommendations in the report.

 

Councillor Adam Clements seconded the proposal, this was put to the vote and agreed by the Committee.

 

The Audit and Governance Committee resolved to:

1.    Approve the draft accounting policies for 2025/26 included at Annex A;

2.    Agree that further necessary amendments to the policies set out at Annex A (occurring subsequent to this meeting) would be included within the draft (unaudited) and/or final (audited) Statement of Accounts when presented to the Committee.

 

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