Charity Commission covers up re-submission of accounts by Lord Lee’s charity

  1. On 22 August 2017, I revealed that regulator the Charity Commission was going to instruct charity The Lee And Bakirgian Family Trust (registered charity number: 1046940) to re-submit its latest accounts “in the correct format”. This was after earlier that month I’d brought to the commission’s attention the problem with the latest accounts, made up to 30 September 2016: they didn’t contain an independent examiner’s report to the charity trustees. Here are the deficient accounts, downloaded from the commission on 27 July 2017: 0001046940_AC_20160930_E_C. Well, the north west charity has duly re-submitted them – but there’s no record on the commission’s public register of charities that the accounts had to be re-submitted. The re-submission is hidden. The fact of re-submission is hidden in the new version of the accounts, too. Both are unsatisfactory. The charity’s records should surely be complete and transparent.

  2. Lord Lee of Trafford (Lib Dem) is a celebrated private investor, who, among many other things, has for a long time written a column in the FT newspaper about investing. How ironic: former MP Lord Lee pores over company accounts and tells FT readers how to interpret them. Yet the latest accounts for his own charity – he’s a trustee – were inadequate, according to the regulator.

  3. On 18 September 2017, the commission told me in an email Lord Lee’s charity had now re-submitted the accounts. Nevertheless at date of publication there’s no indication of the re-submission on the commission’s public register of charities. There the revised accounts, which aren’t identified as such, are erroneously shown as received by the commission on 28 April 2017 – the date when the original accounts were filed there. In other words, the regulator hides the re-submission.

  4. It’d be less of a concern if the revised accounts themselves documented the fact of re-submission and why it was necessary. But they don’t.

  5. So the latest accounts now include an independent examiner’s report to the charity trustees – which, although undated by the examiner, obviously helps to maintain public trust and confidence in Lord Lee’s charity. But neither the commission’s public register of charities nor the accounts themselves record the fact of re-submission and why it was necessary. So much for transparency and accountability.

  6. When I brought to the commission’s attention the new problems, a staff member said in an email: “We are in the process of reviewing and updating the ‘search for a charity’ and register page, I have forwarded your comments to the relevant team for them to incorporate into their feedback for future versions.” I won’t hold my breath.

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