The Westway Trust is due to hold its AGM very soon, we are awaiting the completion of our Audited Accounts before we schedule this meeting.
As you will recall from last year’s meeting, Members voted to appoint a new Auditor, which was an important part of our transformation, including being more open about all aspects of the Trust.
Our new Auditors are doing a thorough job. After well over a decade with Moore, Kingston Smith, we took action, with input from the community, to appoint new Auditors. They are TC Group, who are familiarising themselves with all aspects of the organisations finances, financial processes and Accounts, on behalf of the Trustees and the Members.
They are required to satisfy themselves that all the right internal controls are in place and that Trustees receive regular reporting and receive regular briefing on regulatory requirements.
Thankfully, these have been tested and finance and legal briefings are routinely scheduled, including with our new trustees.
We are pleased with this work, because they do this on behalf of all of us. Although it has taken a bit more time than expected neither we or our Auditors expect any delays in the future.
The Westway Trust needs to comply with both the Charity Commission requirements and Companies House requirements. We have been in regular touch with both our regulators for an appropriate extension to allow for our AGM.
However, any organisation filing late will continue to receive computer generated reminders and notices and we have incurred a fine of £150 from Companies House like many of the other companies that file late.
We want to be more open with our Members and non-Members about the functioning of the Trust and we are pleased that we will be hosting a Members away day in July in order examine roles and responsibilities and provide space for questions and open discussion. Members will receive an invitation for these shortly.
Other open opportunities will be offered more widely to non-Members, tenants and the wider community in the run up to our AGM and post AGM.