Report of the Commissioners

The Commissioners present their Report and the Audited Accounts for the year ended 31st March 2005.

INTRODUCTIONS

The principal activities of the Commissioners stem from their statutory responsibilities which include the conservation, regulation, control and improvement of Poole Harbour and the operation of a viable commercial Port.

STATEMENT OF RESPONSIBILITIES OF THE BOARD

With certain exceptions, the Report and Accounts of Statutory Harbour Undertakings must comply with the requirements of the Companies Act 1985.

One of the features of the form of accounts required by this Act is the use of the word 'profit' to describe the surplus of income over expenditure. The Poole Harbour Commission is a Statutory Trust and as such a non profit making body. Any 'profit' shown in the Report and Accounts is used for the financing of capital expenditure or facilities for the benefit of harbour users and to build reserves to provide financial stability.

The following statement, which should be read in conjunction with the statement of Auditors' responsibilities set out on page 13 is made with a view to distinguishing the respective responsibilities of the Commissioners and of the Auditors in relation to the Accounts.

The Commissioners are required by the Harbours Act 1964 as amended by subsequent legislation to prepare Accounts for each financial year which give a true and fair view of the state of affairs of the Poole Harbour Commissioners as at the end of the financial year and of the Profit or Loss of the Poole Harbour Commissioners for the year. In preparing those Accounts the Commissioners are required to;

* Select suitable accounting policies and then apply them consistently;
* Make judgements and estimates that are reasonable and prudent;
* Follow applicable Accounting Standards, subject to any material departures disclosed and explained in the Accounts;
* Prepare the Accounts on the going concern basis;

The Commissioners are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Poole Harbour Commissioners and to enable them to ensure the Accounts comply with the Harbours Act 1964 as amended by subsequent legislation. They are also responsible for safeguarding the assets of the Commissioners and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BOARD MEMBERSHIP
The board of Poole Harbour Commissioners comprises of twelve Commissioners (two executive and ten non-executive).  Mr Malcolm Shakesby was elected as Chairmanon in December 2004 for one year, and the position of Vice Chairman has now been taken by Mr James Sherborne.  In accordance with the recommendations of the Trust Ports Review, Mr Giles Sturdy, who acted as Chairman from 1996 to 2004, has stepped down as a Commissioners and has been replaced by Mr Richard Lacey.  Mr Graham Hildred has been replaced by Mr Richard Appleton as one of the Commissioners appointed from the executive team.