[foundation-board] Annual accounts for 2010-11

Thu Apr 12 09:37:37 UTC 2012

Approval from me.

I note that we have reviewed these accounts quite a lot already and
been back and forth with Lucrafts on revisions.

As Laura notes we may be revising our tax liability downwards in the
future depending on outcome of R&D tax credit application (there is
also a question over the classification of donations as *trading*
income versus just income (the former being liable for tax the latter
not). These are matters we will look into but as we are now somewhat
*late* with these accounts we think it is important to file as soon as
possible -- and we can amend the tax liability in the future depending
on the outcome of future discussions.

Rufus

On 11 April 2012 18:09, Laura James <laura.james at okfn.org> wrote:
> Please find attached revised accounts.
>
> We have allocated some funds which were prepayments against work to be
> carried out in the next year which has reduced our corporation tax for the
> year in question.  (We also plan to file for an R&D tax credit for a
> fraction of our technical work but this will require further paperwork, and
> so we propose to adjust our filing later this year if the tax credit is
> approved.) In the meantime we wish to proceed to file these accounts with
> both HMRC and Companies House and to pay the due corporation tax.
>
> Please can the board approve these accounts.
>
> Laura
>
> --
>
> Dr Laura James
> Foundation Coordinator, Open Knowledge Foundation
>
> http://okfn.org
>
>
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Promoting Open Knowledge in a Digital Age
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