AGM Finance Report and Audit disapplication 2024

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FINANCE REPORT

to be added



AUDIT

Request from the Freegle Board:

1. The Board would like the AGM to approve the dis-application for a full audit for the Freegle Ltd accounts 2024/25. This would be in line with previous procedure and is due to the level of expense for an external auditor and time required from the volunteer Treasurer for a full audit.

Industrial and Provident Societies must have a full audit if they are a Registered Society with a turnover of over £10,200,000 or assets in excess of £5,100,000.

As we don't get near to these figures the expense and time for a full audit seems unnecessary when our transparency is confirmed by a qualified accountant’s Independent Examination. More information can be found in the legal explanatory note here: http://www.legislation.gov.uk/ukpga/2014/14/section/84

2. If the above is agreed, the Board would also like the meeting to approve the continued appointment of Price and Co as independent examiners for the accounts, fees to be agreed by the Board on behalf of Members.

Link: AGM 2024 Agenda

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