FINANCIALS, AUDITS & RELATED CORRESPONDENCE
2024 Audited - 2023 Audited - 2022 Unaudited - 2022 Audited - 2021 Audited - 2020 Audited
FYE 31 March 2023 AUDITED FINANCIALS500P. Papers for the AGM of 28 June 2023 (Complete Package issued 31 May 2023)500P1. DDA Auditor's Report for YE 31 March 2023
500P2. Quays Financials for the period 1-4-2022 to 5-12-2022
500P3. Quays Financials for the period 5-12-2022 to 31-03-2023
500Y. Auditor's (DDA's) covering email to Stansure of 11 May 2023 500Y1. Attachments - DDA Audit Report; and, Financials for the period 5-12-2022 to 31-03-2023 500Y2. Auditor's email of 10 July 2023 re clarification on financials narrations, etc. 500Z. Quays 2023 Balance Sheet with 2022 Comparatives (prepared by ADD)
FYE 31 March 2022 UNAUDITED FINANCIALS - issued 31 May 2023300A. SUMMARY of Financials YE 31 Mar 2022300B. Papers for the AGM of 16 June 2022 - WITH THE UNAUDITED FINANCIALS300B1. Annual Financial Statements YE 31 Mar 2022, dated 5.5.22 - UNAUDITED300G. Annual Financial Statements YE 31 Mar 2022, UNAUDITED with ERROR NOTES300H. Budgets for the Financial Year ending 31 Mar 2023, with ERROR NOTES
RELATED CORRESPONDENCE TO OWNERS* & TO COMMITTEE FROM ADD
* voting committee members are included in all my emails to Owners
Email to committee 8 Nov 2022 (Doc-Ref 400B)
Email to Owners 18 Oct 2022 (Doc-Ref 400C)
Email to Owners 22 Aug 2022 (Doc-Ref 400D)This email to Owners queried the lack of any correspondence from the committee since the AGM on 16/6/22 and also highlighted the contradictory decisions that the committee had made in regard to:
1. Failing to have the 21/22 Financials audited as per the 20/21 AGM motion to do so.
2. Voting against approved and audited 20/21 Financials and the voting for unaudited, non-compliant and error-ridden 21/22 Financials.
3. Voting against the appointment of Dickfos Dunn Adam at the 20/21 AGM but then to vote for them at the 2022 AGM.
Email to The Committee 12 Jul 2022 (Doc-Ref 400E)
So far, no reaction from the committee and so I sent another email to them advising that I had an additional three professional opinions - 2 from local accounting firms and one from a practicing-chartered accountant. All were of the opinion that the financials were inadequate and agreed with the queries I raised.Email to Owners 5 Jul 2022 (Doc-Ref 400F) (with 1 attachment)
And so the AGM was held, and we were witness to, in my opinion, blatant lies about the validity of the financials with the prime example being the BCM stating in a response to a question by John Blake, that "all the numbers were correct". Nothing could be further from the truth!I could not believe that not one committee member, and it seemed not one Owner present, could see or care, that the numbers were utter and complete rubbish.
As per the above and its attachment I sought the opinion of two chartered accountants and one CPA. Their reviews and comments are as per the attached and are scathing of the lack of accounting compliance which "render the accounts as an unfair and untrue representation of the Body Corporate's financial position."
Email to Owners 14 Jun 2022 (Doc-Ref 400G) (with 1 attachment)
With the AGM due to held on 16/6/22 and there being no meaningful response from the committee, I sent a
second email to Owners as a matter of urgency. The email and attachment highlighted the following:Financials - 9 accounting errors and 3 regulatory breaches
Budgets - 4 accounting errors and 1 regulatory breach
Other AGM Papers - 4 regulatory breachesIncredibly and disappointingly, there was no reaction from the committee or Owners; and against all principles of accounting accuracy and regulatory compliance, these unaudited and error-ridden financials were presented at the AGM.......and so we are where we are today.
Email to Owners 6 Jun 2022 (Doc-Ref 400H) (with 3 attachments)
This was my first email to owners warning them that the financials for the year ended 31 March 2022 contained a large number of material errors. These errors were detailed and highlighted with notes on the pages of the Financials and of the Budgets as attached.Email to The Committee 31 May 2022 (Doc-Ref 400I)
This was my first email to the committee warning them that the financials for the year ended 31 March 2022 contained a large number of material errors. I specifically mentioned 5 items and I also made 4 additional comments.There was token acknowledgement of my correspondence from Christine Mathew on 1/6/22 and from Darren McLean on 6/6/22 @ 1945 but no sense of urgency, no acknowledgment of the errors in the accounts, no suspension of voting or postponement of the AGM. Darren McLean bewilderingly referred my queries to the author of the bogus financials rather than to an independent accounting professional!
As the AGM was scheduled for 16/6/22 and the committee had already been encouraging early voting on these financials since 26/5/22 I took the matter to Owners on 6/6/22 @ 1425 hours.
___________________________________________________AUDITED FINANCIALS (received by Owners on 22 Nov 2022, 5 months after the AGM of 16 Jun 2022)300R. Email to Owners re revised & audited Financials for YE 31 Mar 2022 - dated 22/11/22
300S. Annual Financial Statements YE 31 Mar 2022 - undated but issued by email on 22/11/22
300T. DDA Audit Report YE 31 Mar 2022 - dated 24/10/22
RELATED CORRESPONDENCE TO OWNERS* FROM ADD (* voting committee members are included in all emails to Owners)
Email to Owners 28 Nov 2022 (Doc-Ref 400A)
FYE 31 March 2021AUDITED FINANCIALS (received by Owners on 25 May 2021)200J. Annual Financial Statements YE 31 Mar 2021, dated 25.5.2021
200K. DDA Audit Binder YE 31 Mar 2021 - 2 Audit Reports & 1 Management Letter; or separately as below
200K1. DDA Audit Report YE 31 Mar 2021 dated 27.4.2021
200K2. DDA Audit Report YE 31 Mar 2021 dated 26.5.2021
200K3. DDA Letter re Reclassification of Expenses YE 31 Mar 2021 dated 26.5.2021
FYE 31 March 2020AUDITED FINANCIALS (received by Owners on 6 June 2020)