Annual General Meeting of the Yarpole Community Shop, held on Thursday 15th June 2017 at 7 p.m. in the Parish Hall, Yarpole.

The Board agreed, prior to the meeting, to receive, accept and present to the shareholders the Annual Accounts for the year 2016, showing a net surplus after tax of £4,665. Acceptance of the accounts was proposed by Andrew Praill, and seconded by David Cheshire.

Apologies received prior to the meeting - Julian & Challis Stokes, Colin & Janet Knight, Barbara & John Nurse, Mary & Dave Edwards, Mr & Mrs H. Grey, Mr C. Greer, Jane & Paul Bayliss, Janet & Robert Chitham, Michael & Avis Denny, Linda McKinley, Felicity Norman, Caroline Seaman, Ron & Rita Shaw, Andrew Thompson, Gillian Cradduck.

Attendance recorded at the meeting - 50, apologies - 47

1. Welcome. Andrew Praill, Chairman, welcomed the Shareholders to the meeting and thanked them for their attendance.

2. Apologies. The names of shareholders who had notified their apologies prior to the meeting were noted.

3. Approval of the minutes of the AGM held on 2nd June 2016. These were accepted as a true record on a proposal of approval from Jane Praill, seconded by Val Ainsworth.

4. Matters arising from previous minutes - None to record.

5. Chairman's Report –
• 2016 was a year of consolidation.
• The Board presented a Mission Statement for 2016 and the future, and aspects of this are still pertinent and on-going, emphasising the use of surplus funds for the benefit of the Community.
• The Action Plan is still work in progress including trying to engage the community more.
• In 2016 the Shop won another award - the Plunkett Community Ownership Award as overall winner in the Midlands Region.
• A new counter has just arrived this very week, after nearly two years being proposed and planned.
• Volunteers - we have lost a few volunteers, but there is a good increase in new volunteers arriving and some new Buddies. Training is still on-going.
• The get-together with the Gallery Cafe volunteers in February was very successful.
• 2016 was financially satisfactory after a slow start.
• The PCC has requested a discussion about financial matters and the Shop has agreed to meet with the Building Management and the PCC in the future. If items discussed require Shareholder approval then an extra-ordinary general meeting may be called.

Presentation of the Financial Accounts for 2016 - The Treasurer, David Cheshire had prepared Review Accounts for the year ended 31st December 2016, which were available to all present.
• Administrative expenses had affected operating costs with a chiller failure incurring £1500 in parts, though the labour was met through the maintenance contract.
• Staff wages had increased occasioned by the Living Wage Foundation recommendations, though the shop had been paying this for the last two years.
• There was an operating surplus of £4372.
• The £20,000 in savings had been re-invested at a better rate of interest in 2016, hence £366 increase in interest was recorded.
• The balance sheet to 31/12/2016 was shown. The debtors figure shown represents account customers yet to settle their accounts and newspaper vouchers yet to be reimbursed.
• The Treasurer explained the other figures to the Shareholders.
• Transactions were up in 2016 and total spend had increased by 0.6%.
• The Treasurer then presented detailed income and expenditure accounts in both numerical and graphical format. The gross margin 2015 to 2016 has remained the same.
• Donations shown were from the Craft Corner and from fund-raising via Easyfundraising.com.
• Figures up to week 23 in 2017 were then shown which showed an increase on the same period in 2016. Interestingly credit and debit card sales were lower.
• It is expected that electricity costs will rise in June this year, and there will be an increase in salaries as the Living Wage Foundation figures are to be increased in November.
• It was then proposed that the accounts be accepted and this was proposed by Sebastian Bowen and seconded by Eileen Minton.

7. Shareholders vote to distribute any surplus profit to the community - Andrew Praill made reference to the awards in 2016 which were to the value of £2000. This AGM was being held in the village hall, so that shareholders could appreciate the new audio and visual equipment that had been purchased partially from the 2016 award.
The procedure for applying for funding in 2017 had been amended, making application more robust, including details of why the applicants needed the money and to inform the shareholders at a future date how, if successful in the bid, the proposed outcomes had been achieved.
A slide was shown giving details of the 11 requests and Andrew Praill gave a short precis of each application with the amount requested. The total applied for was £2544.25.
However, prior to the AGM, after consultation with the Treasurer, the Board had agreed that all applications could be funded.
It was then requested that the Shareholders approve this decision and this was proposed by David Minton and seconded by Ann Greer.

8. Appointment of Accountants for 2017 - The Board recommended that Kendall Wadley should continue to be the shop accountants. This was proposed by Peter Lloyd and seconded by Sebastian Bowen.

9. Election of Management Board - Andrew Praill said that Ann Greer had decided to retire from the Board and he thanked her for her work over the past several years. Chris Donovan who was co-opted to the Board at the 2016 AGM had had to resign during the year due to a change in his work commitments, and he was thanked for his input.

The other current Board members, Andrew Praill, David Cheshire, Julian Stokes, Angela Barnett, Jon Pitts and Carol Clare were willing to stand again together with Lynn Ashton. Andrew Praill suggested that all seven should be voted upon en bloc and this was agreed with Eileen Minton proposing and David Martin seconding the proposition

Finally the Chairman thanked all of the volunteers, the Buddies, Chris Smith and Cat, and the other Board members for all their hard work, and also thanked the shareholders and all of the shop customers for their continued support.

The meeting concluded at 7.50 p.m.