Ltd Company - Verbal Update
Minutes:
The Lead Officer provided a verbal update in relation to the partnership. He stated that the accounts had been closed in July 2016 and showed a gross profit of £84,000 and £79,000 before tax. He explained that his role in assisting the partnership had created an additional cost for his services and time and the need to carry out a compulsory audit. The Lead Officer explained that, at the present time, Officers were reviewing how best to offset some tax liabilities.
A Member raised the issue of crime in some retail areas. The Lead Officer explained the issues encountered in some areas when Managing Agents switched off their CCTV in an effort to meet their management budgets and of the difficulties this caused for the partnership and retailers in terms of increased incidents, primarily thefts. The issue of why retailers were unwilling to participate with the CCTV partnership in specific areas was discussed.
RESOLVED – that the update be noted.