Decision details

Shareholder Actions

Decision Maker: Commercial Ventures Executive Sub-Committee

Decision status: Recommendations approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

To undertake actions on behalf of the Council with regard to shareholder functions.

Decision:

RESOLVED that

 

(i)         the appointment of auditors, Kreston Reeves LLP, for Greensand Holdings Limited, for the year to 31 December 2018 be ratified; 

 

(ii)        the appointment of accountants, Kreston Reeves LLP, for Greensand Holdings Limited, for the year to 31 December 2018 be ratified;

 

(iii)       the renewal of Management & Corporate Liability Blended insurance policy for Greensand Holdings Limited for the year to 19 December 2019 be ratified;

 

(iv)       Greensand Holdings Limited’s Directors’ Report and Audited Financial Statements for the year ended 31 December 2018 be noted;

 

(v)        the re-appointment of Kreston Reeves LLP as auditor for Greensand Holdings Limited for the year to 31 December 2019 be approved;

 

(vi)       Greensand Holdings Limited’s auditors’ remuneration for the year to 31 December 2019 as set out in the exempt Part 2 section of the report be approved;

 

(vii)      the appointment of Derek Beck as a Director of Greensand Holdings Limited be approved;

 

(viii)     Horley Business Park Development LLP’s Annual Report and Financial Statements for the year ended 31 December 2018 be noted;

 

(ix)       the re-appointment of Kingston Smith LLP as auditor for Horley Business Park Development LLP for the year to 31 December 2019 be approved;

 

(x)        Horley Business Park Development LLP’s auditors’ remuneration for the year to 31 December 2019 as set out in the exempt Part 2 section of the report, be approved.

 

(xi)       Horley Business Park Development LLP outsource the provision of its management accounting function, currently carried out by the Council’s finance department, as set out in the exempt Part 2 section of this agenda, be approved.

 

Reason for decision:  In order the Council’s commercial entities were governed correctly and met their statutory requirements.

 

Alternative option: If after reviewing the required actions and supporting documentation, adjustments were required, the CVESC should request the necessary adjustments be made and approve the actions subject to those adjustments, in order the Council’s commercial entities were governed correctly and met their statutory requirements.

Corporate Priorities : A great council.;

Wards Affected: (All Wards);

Contact: Kirsty Jane Hill, Democratic Services Officer Email: Kirsty.J.Hill@reigate-banstead.gov.uk Tel: 01737 276749.

Report author: Kirsty Jane Hill

Publication date: 19/07/2019

Date of decision: 17/07/2019

Decided at meeting: 17/07/2019 - Commercial Ventures Executive Sub-Committee

Effective from: 27/07/2019

Accompanying Documents: