Decision details

The approval of Millstream Property Investment Ltd’s accounts is reserved for the shareholder (the council) by the terms of the Shareholder Agreement made between the council and Millstream.
The Shareholder Rep is the appropriate person to exercise this power on behalf of the shareholder in line with his role to attend general meetings or enter into communication with the company in place of such meetings as agreed by the Executive at its meeting of 5th September 2017 as Millstream has, legitimately, determined that approval of the accounts should be carried out outside of a general meeting.
Helen Standen was appointed by the Leader as the Shareholder Rep in relation to the council’s dealings with Millstream on 24th December 2024 under authority to do so delegated by the Executive on 5th September 2017. Therefore, she is has the authority to approve Millstream's accounts.

Approval of Millstream Property Investments Ltd’s audited accounts for 2024/25.

Option 1 - Not approve the accounts – NOT RECOMMENDED as both the company’s auditors (Ensors) and Millstream’s directors have confirmed that the accounts have been compiled and audited in line with accounting conventions and regulations and so there is no reason for the shareholder to, acting reasonably, withhold its approval
Option 2 - Approve the accounts - RECOMMENDED as the company is required by law to prepare accounts and submit them to Companies House and the company's auditors and directors have confirmed that the accounts are now ready for submission.