Middlesbrough Development Corporation Accounts

We acknowledge that Middlesbrough Development Corporation did not meet the statutory requirement topublish the audited accounts for the financial year 2023/24 by the backstop date of 28 February 2025.

The delay arose due to a failure to fully comply with the inspection period. It should have begun the day after publication rather than the day they were uploaded. Therefore, we had to extend the inspection period.

Our initial inspection notice was published on our website alongside the draft financial statements for 2023/24, with the public inspection period running from 20th January 2025 to 28th February. We recognise that, we did not comply in full with the regulation therefore we extended this inspection period until 3rd March 2025. We regret this
oversight and are committed to ensuring that we comply in full in future years.

This administrative error meant that the conditions necessary to proceed with the audit and meet the 28 February 2025 backstop date were not fulfilled. Middlesbrough Development Corporation fully recognises the importance of compliance with these statutory obligations and has taken steps to strengthen internal processes and governance controls to prevent recurrence.

Looking ahead to the 2024/25 financial year, Middlesbrough Development Corporation has worked closely with our external auditors, EY, to establish a clear and achievable timetable for the preparation, review, and publication of both unaudited and audited accounts. This includes agreed milestones to ensure that the Accounts and Annual Governance Statement is published in accordance with statutory requirements and that the public inspection period is properly facilitated. We are confident that the plan in place will enable us to meet all regulatory deadlines, including the statutory backstop of 27 February 2026.