Statement of accounts

The Narrative Report provides information about Nuneaton and Bedworth, including the key issues affecting the Council and its accounts. It aims to provide key detail to support the Council’s Statement of Accounts by presenting a transparent and simple overview of the Council’s financial position and performance for the year, in addition to outlining its prospects for future years.

The Statement of Accounts have been prepared in accordance with the requirements of the Chartered Institute of Public Finance and Accountancy (CIPFA), and in conjunction with the guidelines contained within the latest Code of Practice on Local Authority Accounting in the United Kingdom for 2023/24 (The Code).

These accounts have been prepared on a going concern basis. The concept of a going concern assumes that an organisation, its functions, and services will continue in operational existence for the foreseeable future. However, there is a high degree of uncertainty about future levels of funding for local government and the future national economic outlook. The Council’s management has used its judgement and determined that its financial strategy is robust, and that this uncertainty is not yet sufficient to affect the assumptions underpinning the strategy and that the Council will continue as a going concern.

The Statement of Accounts presents the financial position and performance of the Council for the year ended 31 March 2024. It also provides information to members of the public, including electors and residents of the Borough, Council members, partners, stakeholders, and any other interested parties that the public money with which the Council has been entrusted has been used and accounted for in a legal and responsible manner.

The Narrative Report details the following information and is structured as follows:

• An introduction to Nuneaton and Bedworth and the Council
• Council performance
• An explanation of the Financial Statements
• A summary of financial performance and risks