Hinton St George & Locality Rural Community Services Limited ANNUAL MEMBERS’ MEETING 16 th January 2015 7.30pm.

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

REPORT TO MEMBERS

• Overview• Financial Report• Operations• Membership

SHOP & Post Office

Overview for year ending 30th September 2014

OUR

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

SHOP & Post Office

Financial Report for year ending 30th September 2014

OUR

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

Trading Update

y/e 30.09.15 y/e 30.09.14

First quarter turnover £53,000 £47,000

AN INCREASE OF 13%!

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

SHOP & Post Office

Operations Report to Members for year ending 30th September

2014

OUR

Operations

•our SHOP

•our VOLUNTEERS

•our PROPERTY

•0ur GARDEN

•Future challenges

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

SHOP & Post Office

Membership Report for year ending 30th September 2014

OUR

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

SHOP & Post Office

Elections to Management Committee

OUR

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

SHOP & Post Office

Formal Resolutions

OUR

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.

OPEN FORUM

Please state your name.