Issue - meetings

To receive the draft financial statements of Ansa Environmental Services Ltd and Orbitas Bereavement Services Ltd for the year 2024/25.

The committee considered the Wholly Owned Companies 2024-25 draft financial statements and outturn update.

The committee noted that, for Orbitas Bereavement Services Limited, there had been an increase in the cost of sales during 2025 which was reflected in a reduction in gross-profit. For ANSA Environmental Services Limited, the costs of sales had reduced by 2%, gross profit had increased by 2% and administration costs had also increased by 2%. The committee sought assurance that these variances were monitored and managed by the company Directors. Officers committed to seeking a written response from the WOCs.

RESOLVED:

That the Audit and Governance Committee

1. Note the summarised position of the WOC Financial Statements for year ended 31 March 2025 based on the information provided at this meeting and included in this report at Appendix 1.

2. Note the dates in relation to the approval process for the Financial Statements.

3. Note the overall financial performance of the WOC’s in the 2024/25 financial year, as contained within the Appendix 1, as follows:

a.    ASDV Reserves increased by £0.334m, retained reserves are £0.848m

b.    Wholly Owned Companies Net Core Contract Spending was £43.611m.