Whether the resolution approving the 1994/95 annual accounts was valid despite indiscriminate offsetting of income against apportioned expenses and omission of correct account balances.
The resolution is invalid to the extent that the individual accounts indiscriminately offset all income against apportioned expenses; the accounts must also correctly state the account balances.
The individual accounts must not indiscriminately offset all income against the owners’ apportioned expenses, and must correctly report account balances.