Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed question first answered answering member label
tabling member	label

Search

969227

registered interest
date	06/09/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Government Controlled Companies
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, in which companies the Government has a more than 50 per cent ownership stake; whether he (a) receives a copy of the audited accounts of Government-owned companies in each financial year and (b) keeps a record of the (i) auditors of such companies and (ii) reporting frameworks that those companies use to produce their accounts where they differ from the public sector IFRS standard; and which Government-owned companies lay their accounts before Parliament and share a copy with the Comptroller and Auditor General.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	171482
answer	answer is ministerial correction date of answer 14/09/2018 answer text <p>The accounts of non-profit making companies included within the Government Resources and Accounts Act 2000 (Audit of non-profit making companies) Order 2009 (SI 2009/476) and as amended by subsequent Orders must be examined and certified by the Comptroller and Audit General. The C&amp;AG must then send a copy of the accounts and the report to the relevant departmental Secretary of State, usually this is the SoS of the sponsor department, or any other minister of the Crown who must then lay them before Parliament.</p><p> </p><p>Companies must also comply with applicable requirements in the Companies Act 2006 and follow the financial reporting principles of the HM Treasury Financial Reporting Manual (except for public corporations that are not trading funds). Companies that have charitable status should comply with applicable charities legislation and where relevant, the Statement of Recommended Practice (SORP) Accounting for Charities, issued by the Charity Commission.</p><p> </p><p>The Whole of Government accounts consolidates organisations that have been classified to the public sector by the Office for National Statistics (ONS) which may include government owned companies.</p><p> </p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 14/09/2018 10:09:17 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4518 label Biography information for Tulip Siddiq

969228

registered interest
date	06/09/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Accountancy
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how many companies in each Government Department of which the Government owns more than 50 per cent do not lay their accounts before Parliament.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	171483
answer	answer is ministerial correction date of answer 14/09/2018 answer text <p>Details of those companies of which there is no requirement to lay their accounts before Parliament is maintained by individual sponsor departments.</p><p> </p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 14/09/2018 10:05:06 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4518 label Biography information for Tulip Siddiq

969229

registered interest
date	06/09/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	International Military Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether the (a) assets and (b) liabilities of International Military Services Ltd are exempt from consolidation in the whole of Government accounts.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	171484
answer	answer is ministerial correction date of answer 14/09/2018 answer text <p>The Whole of Government accounts consolidates organisations that have been classified as public sector by the Office of National Statistics (ONS).</p><p>The classification guidance can be found at:</p><p><a href="https://www.ons.gov.uk/methodology/classificationsandstandards/economicstatisticsclassifications/introductiontoeconomicstatisticsclassifications" target="_blank">https://www.ons.gov.uk/methodology/classificationsandstandards/economicstatisticsclassifications/introductiontoeconomicstatisticsclassifications</a></p><p> </p><p>The assets and liabilities of International Military Services Ltd have been consolidated into the Whole of Government accounts in the form of a prepayment and payables, which feeds through from the accounts of Ministry of Defence.</p><p> </p><p><a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/727618/CCS207_CCS0318104056-1_MOD_ARA_2017-18_-_Web_PDF.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/727618/CCS207_CCS0318104056-1_MOD_ARA_2017-18_-_Web_PDF.pdf</a></p><p> </p><p>Disclosure can be found in ‘Note 12 Trade receivables and other assets’ page 186, and ‘Note 14 Trade payables and other liabilities’ page 188.</p><p> </p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 14/09/2018 11:27:58 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4518 label Biography information for Tulip Siddiq

969231

registered interest
date	06/09/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Government Controlled Companies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will publish the number of Government controlled companies that report as small companies under the Generally Accepted Accounting Practice.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	171486
answer	answer is ministerial correction date of answer 14/09/2018 answer text <p>Government controlled companies must comply with the applicable requirements in the Companies Act 2006 and follow the financial reporting principles of the HM Treasury Financial Reporting Manual (except for public corporations that are not trading funds). This includes the provision of the additional disclosures required by the Manual where these go beyond the Companies Act. The Manual applies EU adopted international financial reporting standards (IFRS) as adapted or interpreted for the public sector.</p><p> </p><p>Government controlled companies that have charitable status should comply with the applicable charities legislation and where relevant, the Statement of Recommended Practice (SORP) Accounting for Charities, issued by the Charity Commission.</p><p> </p><p>Sections within the Companies Act 2006 define the qualifying criteria for small companies’ regime. The disclosure exemptions permitted under the small companies’ regime do not generally apply to government owned companies unless specific approval has been sought by the relevant authority.</p><p> </p><p>Departments, in the first instance, will exercise oversight of such companies, through the monitoring of these companies and consolidation within their annual report and accounts or recognition as investments.</p><p> </p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 14/09/2018 10:20:22 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4518 label Biography information for Tulip Siddiq

969232

registered interest
date	06/09/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Government Controlled Companies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what his policy is on Government controlled companies being exempt from laying their accounts before Parliament.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	171487
answer	answer is ministerial correction date of answer 14/09/2018 answer text <p>Laying of annual reports and accounts before Parliament is a fundamental part of the accountability process and any requirement to lay the accounts of government controlled companies is set out in relevant legislation. The accounts of non-profit making companies included within the Government Resources and Accounts Act 2000 (Audit of non-profit making companies) Order 2009 (SI 2009/476) and as amended by subsequent Orders must be examined and certified by the Comptroller and Audit General. The C&amp;AG must then send a copy of the accounts and the report to the relevant departmental Secretary of State, usually this is the SoS of the sponsor department, or any other minister of the Crown who must then lay them before Parliament.</p><p> </p><p>Government controlled companies are also subject to the Companies Act 2006 and must submit their accounts to Companies House.</p><p> </p><p>The sponsor department of each government controlled company will either consolidate the entity in full or incorporated as investments within their own group consolidated accounts which are subject to audit by the C&amp;AG and laid before Parliament.</p><p> </p><p> </p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 14/09/2018 10:23:01 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4518 label Biography information for Tulip Siddiq

969233

registered interest
date	06/09/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Government Controlled Companies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will publish the Government controlled companies in each Department that do not have their assets and liabilities consolidated into the Whole of Government Accounts.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	171488
answer	answer is ministerial correction date of answer 14/09/2018 answer text <p>Every year the Whole of Government Accounts publishes the following annexes:</p><p> </p><p>Annex 1: List of entities consolidated in WGA</p><p>Annex 2: Entities that are not consolidated in WGA</p><p>Annex 3: Minor entities excluded from the consolidation</p><p> </p><p>The latest annexes can be found using the following link:</p><p><a href="https://www.gov.uk/government/publications/whole-of-government-accounts-2016-to-2017" target="_blank">https://www.gov.uk/government/publications/whole-of-government-accounts-2016-to-2017</a></p><p> </p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 14/09/2018 11:29:04 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4518 label Biography information for Tulip Siddiq