AGM Notes

The AGM was held on the 19th January 2012 at 7pm in the Village Hall

Please find attached a copy of the Annual Report ACS Annual Report 2011

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Appleton Community Shop Ltd

Annual General Meeting Thursday 19 January 2012 at 7.00 pm at Appleton Village Hall Agenda

1. Welcome

2. Apologies for absence

3. Chairman's report

4. Adoption of accounts to 30 April 2011

5. Re-appolntment of Independent Examiner

6. Appointment of Directors

7. Any other business

8. Close

CB 18 January 2012

 

Summary Accounts

    2011 2010 2009
    £ £ £
TURNOVER   225,106 228,434 224,049
Cost of sales   201,279 194,278 192,942
         
GROSS PROFIT   23,827 34,156 31,107
         
Gross Profit %   10.6 15.0 13.9
         
ADMINISTRATIVE EXPENSES        
         
Printing, postage and stationery   1,146 2,002 1853
Telephone and FAX   1,307 1,053 1000
Accountancy   1,405 1,240   985
Sundry expenses   1,391 1,313 1,049
Rent - operating leases   5,794 5,619 5,687
Rates   268 260 266
Light and heat   5,728 6,432 3,566
Service charges   1,298 1,564 625
Insurances   561 854 602
Repairs and maintenance   9,907 2,935 2,375
Sundry establishment expenses     67 1,204
Depreciation - plant and machinery   4,941 2,749 3,170
Depreciation - leaehold property   3,706   1,306
         
Total   37,452 26,130 23,688

 

 

 
Notes of the Appleton Village Community Shop AGM
Thursday 3rd February 2011 in the Appleton Village Hall
 
Attendance: Directors and over 30 members of the public.
 
Chairman’s remarks (Jerry Uren)
 
Refurbishment. The refurbishment of the shop in autumn last year was probably one of the major milestones in its nearly eleven year history. The new layout has provided a much more open space and he claimed “three buggies can be in the shop at the same time”! Jerry praised WG Carter and Advanced Electrical Systems for completing the work within a tight timetable and was delighted we had been able to use two village companies for the works. The total cost, including VAT, was £47,480 and it was funded out of reserves and two anonymous donations. In order to maintain cashflow, repayable loans had been made to cover the VAT.
 
December snow. This helped the shop turnover enormously and takings were doubled! Jerry thanked the brave four-wheel drivers who battled through the snow to keep the shop well stocked.
 
Shop prices. Regular checks are made on super market prices and there were certain lines that compare very favourably with the big stores. Vegetables were a good example. He also stressed all should think carefully about fuel prices and the advantages of buying locally.
 
Claire Salmon. Claire has been in post as the manager for 10 months and Jerry thanked her for her efficiency and organisation skills.
 
Volunteers. He thanked the wonderful band of volunteers who, with those that shop at ACS, make it all possible. More volunteers are always welcomed and he said how much some have commented they enjoy the experience of working as a team for a common cause.
 
Nicola Blackwood, MP. He thought the recent visit to the shop on Saturday 22nd January had been thoroughly worthwhile for those who met her and for Nicola – who has written since to say how remarkable ACS is, and how much she had enjoyed her visit.
 
Electricity tariff. The recently renegotiated electricity tariff should mean a 25% saving on the costs of electrics.
 
Felicity Dick thanked those involve with the website and how effective communicating through the website had been during the snow and for advertising Nicola’s visit.


The financial statements were presented and the following noted: -
  • Turnover was up from £224,049 to £228,434
  • Operating profit up from £7,867 to £8362
  • Profit was down from £7,034 to £2,410 and this was accounted for by the £5,000 donations given to local organisations
  • Cash was still in good shape
Accountant Helen Gee was thanked for all her work and she was unanimously re-elected as the accountant for the business.
 
Directors. Directors offer themselves for re-election on a rotation basis and this year Carol Bateman and Michael Mittell were up for re-election. They were both thanked for their great work over the past year. Jerry said that, as Michael had been involved with ACS since start up, he hoped that someone would step up and shadow Michael’s work as company secretary.
 
In his winding up remarks Jerry said he felt that ACS was in excellent hands with the volunteers and particularly thanked those who had the vision over 11 years ago to set up ACS and the business model selected.
 
Questions
 
  1. Lock bicycles. In order to encourage River Thames users to come to the village shop we need to have one or two more bicycles. This will be advertised in the shop and on the website.
  2. What does the post office bring to the shop? Jerry responded that although the PO did not pay for its space, the service factor for the elderly and banking and other products and footfall meant it served an important aspect of the shop.
  3. Were the directors comfortable abut the financial security of the shop? Jerry responded probably more so than ever before.
  4. Why was the meeting not presented with the breakdown of Administrative Expenses? No reason but they will be provided next year.
The meeting closed at approximately 7:35pm

 

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