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Annual Accounts

External Audit of Accounts for Year Ended 31 March 2022
Publication of South Hams District Council’s Statement of Accounts and Audit Opinion

The Accounts and Audit (England) Regulations 2015 – Regulation 10, as Amended By the Accounts and Audit (Amendment) Regulations 2021

The Accounts and Audit (Amendment) Regulations 2022 require that the audited accounts and opinion is published by 30 November 2022. As at 30 November, the District Council’s external auditor, Grant Thornton UK LLP, has not yet concluded the audit.

The delay has arisen due to a combination of factors, comprising the following:

  • the increased assurance work that auditors are required to carry out nationally with respect to pensions and asset valuations;
  • a national issue regarding the accounting for infrastructure assets that will impact on all local authorities with material infrastructure assets.
South Hams District Council has material infrastructure assets. There is a national sector-wide discussion in progress in respect of the correct accounting for these, especially regarding the derecognition of parts of infrastructure assets following 'replacement' expenditure.

The Department of Levelling Up, Housing and Communities (DLUHC) is expected to issue a Statutory Instrument (SI) on 30 November 2022 (coming into force on 25 December 2022) which, together with updates to the CIPFA Accounting Code, will hopefully resolve these issues. Until the SI is in place the 2021/22 audit cannot be finalised. These factors have resulted in the audit of the accounts for the year ended 31 March 2022 not being concluded in time to meet the 30 November publication date.

The latest draft Statement of Accounts for the year ended 31 March 2022 is available on the Authority’s website, subject to conclusion of the audit.

This notice of delayed audit is being published in accordance with Regulation 10, paragraph (2a) of the Accounts and Audit Regulations 2015.

The Annual Accounts provide information on the income and expenditure of the Council during the financial year and records the assets and liabilities as at the year-end.

Our Annual Accounts are examined every year by external auditors to ensure that our financial accounting and the presentation of our accounts are conducted according to strict guidelines.

The Annual Accounts include information such as:

  • The Comprehensive Income and Expenditure Statement - shows all the money we have received and all the money we have spent
  • The Balance Sheet - shows the Council's assets (land, buildings, equipment, funds) and liabilities (money owed) at the end of the financial year.

More detailed information is included in these 100-page reports, such as:

  • Employee costs & pensions
  • Capital accounts
  • Assets held
  • Grants

Our Annual Governance Statement is published with the Annual Accounts and is available to download with the Accounts below


Draft Statement of Accounts 2021-22


Previous Year's Accounts

2014/15

2015/16

2016/17

2017/18

2018/19

2019/20

2020/21

External Audit of Accounts for Year Ended 31 March 2022
Publication of South Hams District Council’s Statement of Accounts and Audit Opinion

The Accounts and Audit (England) Regulations 2015 – Regulation 10, as Amended By the Accounts and Audit (Amendment) Regulations 2021

The Accounts and Audit (Amendment) Regulations 2022 require that the audited accounts and opinion is published by 30 November 2022. As at 30 November, the District Council’s external auditor, Grant Thornton UK LLP, has not yet concluded the audit.

The delay has arisen due to a combination of factors, comprising the following:

  • the increased assurance work that auditors are required to carry out nationally with respect to pensions and asset valuations;
  • a national issue regarding the accounting for infrastructure assets that will impact on all local authorities with material infrastructure assets.
South Hams District Council has material infrastructure assets. There is a national sector-wide discussion in progress in respect of the correct accounting for these, especially regarding the derecognition of parts of infrastructure assets following 'replacement' expenditure.

The Department of Levelling Up, Housing and Communities (DLUHC) is expected to issue a Statutory Instrument (SI) on 30 November 2022 (coming into force on 25 December 2022) which, together with updates to the CIPFA Accounting Code, will hopefully resolve these issues. Until the SI is in place the 2021/22 audit cannot be finalised. These factors have resulted in the audit of the accounts for the year ended 31 March 2022 not being concluded in time to meet the 30 November publication date.

The latest draft Statement of Accounts for the year ended 31 March 2022 is available on the Authority’s website, subject to conclusion of the audit.

This notice of delayed audit is being published in accordance with Regulation 10, paragraph (2a) of the Accounts and Audit Regulations 2015.

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