Members noted the exemption of Liberty Leisure Limited from the requirement of an external audit for 2024/25.
The accounts of Liberty Leisure Limited must be subject to an audit due to the company being a subsidiary of an entity (i.e. the Council) that does require an audit. Although the company has a turnover of around £3.7 million, it does not meet the small companies’ exemption criteria as set out in the Companies Act 2006 due to its relationship with the Council.
RESOLVED that Liberty Leisure Limited be exempt from requiring an external audit for 2024/25 in accordance with Part 16 Section 479 of the Companies Act 2006.