[foundation-board] Fwd: Accounts and Letter of Representation for signature and return

Wed Mar 4 10:08:57 UTC 2015

Morning Michelle

Looks like we are closing in on "more compliant annual accounts disclosures" than we had in front of us last week !

When will you get a chance to look at my original email of last week with questions on the numbers, please ?

Obviously insights ahead of the board meet next week would aid approval / director confidence at that meeting.

Greetings from Mount Pleasant House (yes I'm back again) !

Tom

Tom Cobbold FCCA
07968 324935

Begin forwarded message:

> From: Michael Hunt <huntm at buzzacott.co.uk>
> Date: 4 March 2015 09:59:12 GMT
> To: Michelle Heydon <michelle.heydon at okfn.org>
> Cc: Tom Cobbold <tomcobbold at yahoo.co.uk>
> Subject: RE: Accounts and Letter of Representation for signature and return
> 
> Hi Michelle
>  
> Thank you, I will ensure that the accounts are updated and will email a PDF version over to you today.
>  
> Regards
>  
> Michael
>  
> From: Michelle Heydon [mailto:michelle.heydon at okfn.org] 
> Sent: 03 March 2015 17:57
> To: Michael Hunt
> Cc: Tom Cobbold
> Subject: Re: Accounts and Letter of Representation for signature and return
>  
> Hi Michael,
>  
> I attach a spreadsheet showing the breakdown of income. (Sheet also includes breakdown of Business/nonbusiness for VAT apportionment data).
>  
> We are planning on circulating the board papers tomorrow.
>  
> Regards,
>  
> Michelle
>  
> On 3 March 2015 at 14:58, Michael Hunt <huntm at buzzacott.co.uk> wrote:
> Dear Tom
>  
> I attach updated drafts for your attention.
>  
> There were some issues regarding the formatting of the indentation and insertion of the logo, so we thought it better to leave those for now, though we can look into resolving these before we finalise if necessary.
>  
> The only other outstanding item is the insertion of the overseas turnover percentage into note 1. I have asked Michelle to provide this.
>  
> Finally, please could you confirm when the accounts are due to be circulated to the board?
>  
> Regards
>  
> Michael
>  
>  
>  
> 
> Michael Hunt
> Qualified Senior
> 
> Direct Dial:  | Email: huntm at buzzacott.co.uk
> 
>  
> 
> Michael Hunt
> Qualified Senior
> 
> Direct Dial:  | Email: huntm at buzzacott.co.uk
> 
> From: Michael Hunt 
> Sent: 02 March 2015 15:49
> To: 'Tom Cobbold'
> Cc: Michelle Heydon; Vikram Sandhu; David Webster; Karin Christiansen
> Subject: RE: Accounts and Letter of Representation for signature and return
>  
> Dear Tom
>  
> Thanks for your email, please see my replies to your points in red below.
>  
> I will forward the amended accounts to you shortly but if you have any questions in the meantime, let me know.
>  
> Thanks and regards
>  
> Michael
>  
> From: Tom Cobbold [mailto:tomcobbold at yahoo.co.uk]
> Sent: 27 February 2015 14:41
> To: Michael Hunt
> Cc: Michelle Heydon; Vikram Sandhu; David Webster; Karin Christiansen
> Subject: Re: Accounts and Letter of Representation for signature and return
> Importance: High
>  
> Dear Michael
>  
> Thank you very much for these drafts & the LOR which I’ll arrange to have signed and returned forthwith - our preference is to review & approve as a board when we next sit on 11th March, so yesterday I asked Companies House for a 1 month filing extension, who knows, they might take pity and waive the £150 fine, I should know by Monday assuming they reply within their stated 2 day turnaround.
>  
> One or two technical questions and a few trifling presentational wants/queries:-
> 1.  Why is the £71,320 VAT provision release not deemed a prior year adjustment? To be classed as a prior year adjustment the transaction must relate to a change in accounting policy or a fundamental error. This is the correction of an accounting estimate so we are happy that this should not be treated as a prior year adjustment.
> 2.  p7 please can you change the spelling to Christiansen ? I will ensure that this change is made and forward an updated set of accounts shortly.
> 3 . p7 Can we have first names included in the directors names (James, Karin, Tom, Martin, Ben, Paula, Chris, Rufus, Jane, Helen).  I like this because it quietly discloses gender composition !  Similar adjustment required for e.g. index page, p8, p12. As above.
> 4.  p12 - we are not company number 5158916 As above.
> 5.  Throughout, the document left hand margin is heavily indented, could you move it back to the left a bit, please ?*! As above.
> 6.  Can you include our nice new logo across the front page and then a small one at the top of each subsequent page, please ?  The logo file is attached to this email. As above.
> 7.  Speaking with Michelle this morning I’m not sure if the tax number is correct in these drafts or not - please can you double-check with your tax cousins ? n.b. I haven’t yet reviewed any comps myself to know why, but it’s intriguing to see a £35k surplus generating a tax refund, have we got an R&D claim or some such ? There was a tax refund in respect of a previous period of £4,335. This has been partly offset by a tax charge of £1,623, leaving a credit of £2,712.
> 8.  Do we need a note on Company status or Controlling party - here I am cribbing an idea from the ODI accounts, attached, seemingly prepared by PKF  - see their notes 12 and 17 ? I will ensure that the updated drafts include these disclosures.
>  
> Best,
> Tom
>  
> Tom Cobbold FCCA
> 36 Castle Street, Saffron Walden, CB10 1BJ
> M 07968 324935 E tomcobbold at yahoo.co.uk S tomcobbold
>  
> 
>  
> On 25 Feb 2015, at 15:52, Michael Hunt <huntm at buzzacott.co.uk> wrote:
>  
> 
> Dear Tom,
>  
> I attach a PDF copy of the Open Knowledge Foundation accounts and Letter of Representation for the year ended 31 May 2014.
>  
> Please print 6 copies of the accounts and sign each copy where indicated on pages 8 and 12. Additionally, please print and sign one copy of the Letter of Representation.
>  
> As you may be aware, the filing deadline for the accounts is 28 February 2015 (so essentially Friday 27 February), so please ensure the accounts and letter are returned to Vikram Sandhu as soon as possible.
>  
> If you have any questions, please don’t hesitate to get in touch.
>  
> Regards
>  
> Michael
>  
>  
>  
> 
> Michael Hunt 
> Qualified Senior
> 
> <115022515521404769.gif>
> 
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> Please consider the environment before printing this e-mail. <Open Knowledge Foundation - 2014 Accounts.pdf><Open Knowledge Foundation - 2014 LOR.pdf>
>  
>  
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> 
>  
> --
> Michelle Heydon | Operations Director | Open Knowledge Foundation
> michelle.heydon at okfn.org | M:  +44 (0) 7773 427303  | http://okfn.org/
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