[foundation-board] Fwd: Accounts v3

Wed Feb 23 14:09:50 UTC 2011

Hi All,

Please find attached what will be the final set of submitted accounts -- the
only updates are to reflect Becky's comments (see comments from Urban
Ledgers below). I've looked through and they seem fine and I'm not expecting
further review but everyone is very welcome to take a look (and if you do
spot something please let me know asap).

Rufus

---------- Forwarded message ----------
From: Catherine Davis <catherine.davis at urbanledgers.co.uk>
Date: 23 February 2011 13:14
Subject: Accounts v3
To: rufus.pollock at okfn.org

Hi Rufus,

We've updated the accounts per your comments below, and have made some notes
below also.

Shortly we'll post the journals in Xero and bring everything in line - I'll
advise when this is completed.

As always, any questions please ask.  Just a note re your corp tax return -
you will need to submit the full (statutory) accounts with your tax return,
ie: HMRC won't accept the abbreviated accounts.

Kind regards
Catherine

---------- Forwarded message ----------
From: *Rufus Pollock* <rufus.pollock at okfn.org>
Date: 22 February 2011 11:48
Subject: Re: Accounts - updated
To: Catherine Davis <catherine.davis at urbanledgers.co.uk>

Hi Catherine,

Sorry for slight delay -- the Board were just reviewing the accounts. There
is the following minor feedback:

 Page 1: You should probably list B Hogge as R Hogge (her first name is
Rebecca)
UL - Corrected

Page 1: states the accounts were approved on 15 February. Can this be
changed to today's date (22nd)
UL - Changed

Page 3: Someone was curious as to the use of the word Turnover in the
heading here. Why is this not simply "income"? This seems especially strange
as Note 1 (page 5) states "turnover represents event income received by the
company". Can this be changed to income (or does it not matter?)
UL - It is standard practice to use the term Turnover but it really doesn't
matter.  We've changed it to Income per your request.  Essentially they are
the same thing.

Page 3: We think we need to have a note number against "tax on loss on
ordinary activities"  (which in any case, should read "tax on profit/loss on
ordinary activities, no?)" saying "It is our understanding that corporation
tax is not payable by Open Knowledge Foundation as it is a not-for-profit
company ..." (perhaps something as per the explanation you sent through to
me earlier)
UL - Note added

Page 5: Someone asked whether we should name our debtors. I don't think we
should, at least here, but we'd be interested to know what standard practice
is.
UL - No, it would be unorthodox to name the debtors for a small company.

Page 5: As per previous point, we'd like a note stating that it is our
understanding that corporation tax is not payable due to our not-for-profit
status.
UL - done

If you could make these changes then I think it is all good to go and you
can post me the accounts the sign and send on to Companies House (there's no
way for you to submit direct, no?).

UL - are you registered for WebFiling with Companies House?  If so, accounts
can be lodged electronically that way.  Otherwise you will need to print the
Abbreviated Accounts, sign page 2, and send recorded/signed for next day
delivery to Companies House.  We don't need to sign the Accountants Report.
The pdf copy attached should be of sufficiently high quality to meet
Companies House requirements.

Rufus

-- 
Catherine Davis *Managing Director**M* 0795 808 5386*T
*0207 700 0355 *F*0207 700 3722*W* www.urbanledgers.co.uk

-- 
Co-Founder, Open Knowledge Foundation
Promoting Open Knowledge in a Digital Age
http://www.okfn.org/ - http://blog.okfn.org/
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