POWER FOR GOOD CO-OPERATIVE LIMITED

 

REPORT OF THE DIRECTORS

FOR THE PERIOD

1 OCTOBER 2013 TO 30 SEPTEMBER 2014


 

The directors present their report with the unaudited financial statements of the Society for the period 1 October 2013 to 30 September 2014.

Incorporation

The Society was incorporated as an Industrial & Provident Society for the benefit of the community (Community Benefit Society) on 11 September 2012.

Principal activity

The principal objective of the Society is the installation of renewable heating and energy generation measures in places of worship, associated buildings and community buildings. Activities during the financial year under review have focused on the
development of solar energy projects at places of worship in Birmingham and the surrounding area.

Directors   

The directors who have held office during the period from 1 October 2013 to the date of this report are as follows:

Stephen Anjum (appointed 28 February 2013; resigned 07/01/2015)

Margaret Healey-Pollett (appointed 11 September 2012)

John Heywood (appointed 11 September 2012)

Stephen Lyne (appointed 11 September 2012)

[Thomas McDonnell (resigned 08/01/2014)]

Beryl Moppett (appointed 11 September 2012)

John Wilkinson (appointed 11 September 2012)

Financial statements

The financial statements for the financial year from 1 October 2013 to 30 September 2014 are set out on pages 7 to 10 and have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The detailed income and expenditure account set out on page 11 does not form part of the financial statements but is included as an aid to understanding the Society’s financial position.

Directors’ responsibilities for the financial statements

The directors acknowledge their responsibilities for:

(a)   ensuring that the Society keeps accounting records which disclose with reasonable accuracy at any time the financial position of Power for Good Co-operative Limited and which enable them to ensure that the financial statements comply with the Industrial and Provident Societies Acts; and

(b)   preparing financial statements which give a true and fair view of the state of affairs of the Society as at the end of each financial year and of its profit and loss for each financial year in accordance with the requirements of the Industrial and Provident Societies
Acts, so far as applicable to the Society.

Disapplication of requirement for statutory audit

 Under the legislation governing Industrial & Provident Societies, a Society whose turnover is less than £90,000 and whose total assets are less than £2.8 million may, under specified conditions and with the approval of its members, disapply the requirement for a full professional audit of its financial statements. Power for Good Co-operative Limited met the relevant conditions throughout the financial year to 30 September 2014 and the members have not required the Society to obtain an audit of its financial statements for this period.

 

On behalf of the Board

John Heywood, Secretary

04/03/2015