hinton st george & locality rural community services limited annual members’ meeting 16 th...
TRANSCRIPT
Hinton St George & Locality
Rural Community ServicesLimited
ANNUAL MEMBERS’ MEETING16th January 2015
7.30pm
Agenda• Chairman’s welcome• Apologies• Approval of Minutes of Annual
Members’ Meeting of 7th February 2014
• Committee Report including Annual Statement of Accounts for year ending 30th September 2014 and Membership Report
• Elections to the Management Committee
• Resolutions• Open Forum
Minutes of last AGM
Approval – proposer and seconder please
Matters arising:• Reducing wastage - much
improved• Increasing gross profit on sales
to above 24% - stock write-downs have affected this
• Increasing turnover to around £220,000 - modest improvement, still some way to go
Overview
• A more settled year• Staffing situation improved –
but..........• Improving sales/reduced costs• Increasing volunteer competence• Cash reserves still healthy• Shop profitable for the first timeBUT• Turnover/margin still growing too
slowly
Summary Profit & Loss AccountYear Ending 30th September 2014
2014 2013Turnover 190,346 187,917 Cost of sales (150,832)
(144,304)Gross profit 39,514 (20.8%)
43,613 (23.2%)
Other income - PO 14,430 12,208
- Flat rental/misc 7,971 4,819
Gross profit inc other income 61,915 60,640
Operating expenses (51,492) (64,028)
Trading profit (ex finance, depn.) 10,423 (3,388)
Profit/Loss after financing
2014 2013
Trading profit (previous slide) 10,423 (3,388)
Finance costs (net interest) (6,837) (7,511)
Net profit (after finance) 3,586(10,899)
Other income (grants, donations) 5,137 23,744
8,723 12,845
Depreciation (4,259) (6,652)
Surplus for y/e 30.9.14 4,464 6,193
Operating Expenses breakdown
2014 2013
Staff costs 40,51946,552
Premises costs 6,180 11,698
Administrative costs 4,793 5,778
Total expenses 51,49264,028
Summary Balance Sheetas at 30th September 2014
Fixed assets (property value etc) 392,467
Net current assets 46,244
Total net assets 438,711
Total loans outstanding (207,676)
Net assets at 30th Sept 2014 - £231,035
Net assets at 30th Sept 2013 - £226,426
An improving trendQuarterly shop sales:
2014 2013Q1 47,020 (-11.5%) 53,143
Q2 42,514 (+0.1%) 42,488
Q3 49,374 (+9.1%) 45,253
Q4 51,438 (+9.4%) 47,033
190,346 (+1.3%)
187,917
As per accounts
Trading Forecast y/e 30.09.15 y/e
30.09.14 Turnover 201,030 (+4.8%)
190,346Cost of sales 157,204 (150,832) Profit on sales 43,826 (21.8%)
39,514 (20.8%)
Post Office income 11,800 14,430Other, inc. Rental income 7,405 7,971* Gross profit 63,031 61,915Wages (39,686) (40,519) Other Operating expenses (11,530)
(10,973) Net Profit (before finance) 11,815 10,423
Finance costs (interest) (7,250) (6,837) Net profit (after finance) 4,565 3,586 Other income – grants etc 3,000 5,137Forecast profit for y/e 30.9.15 7,565 8,723
Cash Forecast
Cash as at 30th September 2014 40,374
Trading profit for y-e 30th Sept 2015 11,815 52,189
LessFinance costs 7,250Capital expenditure 9,000Loan repayments 11,327
24,612Grants, donations etc 3,000
Cash at 30th September 2015 27,612
our SHOP
• Greater staffing resilience• Stability leading to more time for
improvements to layout • Website re-vamped• Wine sales continue to increase• Fruit and veg. sales still improving• Wastage reduced, write-down of old
stock
our VOLUNTEERS
• Some excellent new recruits – more needed
• High level of expertise of core volunteers
• Magnificent response during Di’s absence
• As always, thanks to our Rotameisters – and a notable response to calls for help
• Another successful summer barbecue
our PROPERTY
• Few maintenance issues in shop• Stable tenants in flat – but leaving
mid-year• Committee reviewing need to employ
agents• Minor maintenance issues in flat• Garage roof complete, re-pointing
walls weather-dependent• Tenant found for garage after public
tender, should be let beginning February
our GARDEN
• Thanks to Steve Turvey for mowing the grass
• Thanks to all who have taken part in the 60 minute makeovers – please help if you can
• Major clearance at far end undertaken
• Repairing gazebo but shed needs demolition
• Committee reviewing future options
Future challenges
• Increasing turnover - need £220k for safety- better merchandising and customer experience
• Stocking what people want to buy- listening to our customers, new products
• Increases in interest rates- replace Lloyds mortgage with fixed rate loan?
• Increasing volunteer numbers- never was so much owed by so many to so few!
• Maintaining pressure on operating costs
Membership Report
• 367 Paid-up Members as at 30th September 2014
• 13 new members since last AGM• Sadly, 1 member passed away in
the year• Encouraging new residents to
join• Member communication by e-
mail, newsletter and website
Current Committee Members and roles
• Richard Monk - Deputy Chair - property
• Jeremy Rook - Treasurer • Jane Jackson – Secretary,
membership• Patricia Heelis – customer/volunteer
issues• Keith Hurse – Post Office• Nick Kirby - EPoS and stock control• Ann-Marie Lawson (co-opted) – family
needs• Andrew Norton – IT, website and
comms• Michael Phillips – handyman• Mike Mills-Roberts – licensee
Retirement by Rotation and Leavers
• Committee members retire at 3rd AGM after they were elected, but can offer themselves for re-election.
• David Clements and Richard Monk retire by rotation and offers themselves for re-election.
• Michael Phillips has decided to resign
Elections to Management Committee
• Constitution requires not less than 4 and not more than 12 committee members
• Currently 10 elected members – 1 resignation
• With two retirements by rotation, up to 5 vacancies
• Valid nominations received from David Clements, Ann-Marie Lawson, Richard Monk, David Wheeler,
ElectionConstitution allows voting on show of hands, unless requested otherwise? David Clements - those in favour/ against Ann-Marie Lawson - those in favour/against Richard Monk - those in favour/against David Wheeler - those in favour/against
RESOLUTIONS
1. Accounts
To approve the annual accounts for the year ending 30th September 2014.
Proposer and seconder, please.
RESOLUTIONS
2. Reporting Accountant
To authorise the Management Committee to dispense with a full professional audit for the year to 30th September 2015 and to appoint a Reporting Accountant at its discretion.
Proposer and seconder, please.
RESOLUTIONS
3. Annual Report
To approve the committee report tomembers for the year ending 30th September 2014.
Proposer and seconder, please.