Issue - meetings
Statement of Accounts 2024/2025 and Annual Governance Statement
Meeting: 26/09/2025 - West Mercia Supplies Pensions Joint Committee (Item 7)
7 Statement of Accounts 2024/2025 and Annual Governance Statement 
PDF 141 KB
Report of the Treasurer – Report to Follow
Contact: James Walton
Additional documents:
- Appendix 1 - WMS Statement of Accounts 202425, item 7
PDF 591 KB
- Appendix 2- Annual Governance Report 2024-25, item 7
PDF 142 KB
Decision:
That the finalised Statement of Accounts 2024/25 be signed by the Chairman and the Treasurer be approved.
That the Annual Governance Statement 2024/25 be approved.
Minutes:
The Treasurer, James Walton presented the report which outlined the Statement of Accounts 2024/25 and the Annual Governance Statement 2024/25. He explained that the Joint Committee was formed after West Mercia Supplies was sold, with the pension liability retained and initially held within West Mercia Energy. Due to the negative impact of the pension deficit on West Mercia Energy’s balance sheet and its business prospects, the liability was separated into a Joint Committee.
Members were advised that the Statement of Accounts for 2024/25 include standard financial statements showing the pension liability, which can fluctuate significantly year-to-year due to actuarial valuations and adjustments.
RESOLVED:
1. That the finalised Statement of Accounts 2024/25 be approved and signed by the Chairman and the Treasurer.
2. That the Annual Governance Statement 2024/25 be approved.