Issue - meetings

To undertake actions on behalf of the Council with regard to shareholder / partnership functions for Greensand Holdings Limited; Horley Business Park Development LLP; RBBC Limited; and Pathway for Care Limited as set out in Part 2, the exempt part of the agenda.

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.

Councillor Archer presented the Shareholder Actions report and explained that the shareholder representative for Greensand Holdings Limited and the partner representative for Horley Business Park LLP, which was appointed by the Executive on 30 May 2019, was required to ratify; review; note or approve the actions as set out in the report, in order the Council’s owned or part-owned companies could meet their obligations under the Companies Act 2006 and the companies’ constitutions.

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.

To consider the following exempt information in relation to undertaking actions on behalf of the Council with regard to shareholder functions (full details set out in the attached report):

Greensand Holdings Limited (‘GH’):

(i)            Shareholder representative ratification is required for the appointment of auditors for the year to 31 December 2018;

(ii)          Shareholder representative ratification is required for the appointment of accountants for the year to 31 December 2018;

(iii)         Shareholder representative ratification is required for the renewal of Greensand’s Management & Corporate Liability Blended insurance policy;

(iv)         Shareholder representative to review and note Directors’ Report and Audited Financial Statements for the year ended 31 December 2018 (see Annex 1, 2 and 3);

(v)          Shareholder representative to consider and approve the appointment of an auditor for the year to 31 December 2019;

(vi)         Shareholder representative to fix auditors’ remuneration (see Annex 4);

(vii)        Shareholder representative to consent to the appointment of Derek Beck as a Director;

Horley Business Park Development LLP (‘HBPD LLP’):

(viii)      Partner representative to review and note HBPD LLP’s Annual Report and Financial Statements for the year ended 31 December 2018, set out in Annex 5 and 6;

(ix)         Partner representative to consider and approve the appointment of an auditor for the year to 31 December 2019;

(x)          Partner representative to fix auditors’ remuneration for the year to 31 December 2019 (see Annex 7);

(xi)         To note HBPD LLP to outsource the provision of its management accounting function.

RESOLVED that the exempt information in relation to the Shareholder Actions report be noted.

To consider the exempt information in relation to the Shareholder Actions report. 

RESOLVED that the exempt information in relation to the Shareholder Actions report be noted.