Buried in an agenda pack to be discussed on the 8th June. Might explain why LLAL has yet to publish its accounts.
“Focus would be on the appropriateness of disclosures and judgements on material risks and uncertainties with the plans for stabilising LLAL, and the impact this had on the Council’s borrowing requirement, budget and medium term planning. In addition, EY [the accountants Ernest Young] had been questioning whether the Council and LLAL should be continuing to capitalise the costs associated with Airport expansion schemes (DCO and CPAR) on the grounds that the conditions pre and post Covid-19 created more uncertainty on the transfer of economic benefits”.
CPAR is the abbreviation for the access road to Terminal 2. Interesting they mention pre Covid issues so Covid can’t be blamed for all of the problems.