Restatement of annual accounts

During the course of reconciling the grant expenditure for the ReMPro project funded by The Wellcome Trust, we discovered that we had omitted to re-charge to the grant the employers’ pension contributions for the member of staff funded on the project.

While we are still able to claim this additional item from The Wellcome Trust, it will require us to adjust downwards the expenditure for last year’s Annual Accounts, as the expenditure was incurred during the course of the financial year.

The claimable sum is £2,076.72, reducing the deficit reported in the Accounts to £21,641 after tax.

The revised Annual Accounts for 2020/21 have been prepared by our accountants, Chater Allan, and have been checked by the Treasurer and approved by Finance & Governance Committee and the ARMA Board.

Members who wish further information on the matter, or who have any concerns about the restated accounts are invited to email the COO at hamish.macandrew@arma.ac.uk before 9am on Monday 19th July. In the event that no objections are received, the revised accounts will be deemed approved by the membership.