GAWSWORTH COMMUNITY SHOP LIMITED OPEN MEETING AND ANNUAL GENERAL MEETING SUNDAY 12 JUNE 2011.
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Transcript of GAWSWORTH COMMUNITY SHOP LIMITED OPEN MEETING AND ANNUAL GENERAL MEETING SUNDAY 12 JUNE 2011.
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GAWSWORTH COMMUNITY SHOP LIMITED
OPEN MEETING AND
ANNUAL GENERAL MEETING
SUNDAY 12 JUNE 2011
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GAWSWORTH COMMUNITY SHOP LIMITED Agenda for open meeting
1. The story so far including a showing of the BBC video
2. How the business is run
3. Role of the volunteers
4. Review of the business to date
5. Question and Answers
Agenda for AGM
1. Appointment of Directors of the Board
2. Resolution to remove the need for an external audit for 2010
3. Resolution to approve draft accounts to 31 December 2010
4. Resolution to remove the need for an external audit for 2011
5. Any Other Business
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How the business is run and regulated
A reminder of our legal structure Shareholders – one member one vote The Board – elected by the shareholders The Shop Manager – appointed by the Board The Shop Management Group – authorised by
the Board Volunteers
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How the Industrial and Provident Society is run and regulated (cont)
The Industrial and Provident Society Acts The Financial Services Authority Requirement for Accounts The Tax Authorities
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The role of Volunteers
Essential to our daily operation from a practical and financial perspective
Key to the success of the shop as a community hub
Vacancies still exist – both behind the counter and behind the scenes
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The accounts
The accounts to 31/12/10
Total funds raised
How these funds have been spent
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Funds raised The village Gawsworth Parish Council John Upton Charity Events Other grants Cheshire Peaks & Plains Housing Trust Plunkett Foundation Co-operative and Community Finance
(numbers rounded to nearest £1,000)
£
50,000
4,000
10,000
5,000
1,000
20,000
20,000
20,000
130,000
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Use of funds Purchase of property and business Refurbishment and new equipment Stock Working capital, development and
contingency
.
Approximate
£
70,000
25,000
10,000
25,000
130,000
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Review of the business to date
Trading performance for 4 months to 30.4.11: Turnover Gross Margin Overheads Result before tax Successes and set backs Current (April) balance sheet
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Summary Profit and Loss account5 months to
31/12/104 months to
30/4/11
£ £ %
SALES - 33,880
Cost of sales - (26,257)
GROSS MARGIN - 7,623
GROSS MARGIN PERCENTAGE 22.5
Overheads (738) (7,374)
Depreciation (430)
TRADING LOSS BEFORE INTEREST (738) (181)
Fund raising – gifts and events 9,331 136
Industrial & Provident Society costs (450) -
Set up costs (1,971) (395)
Finance charges and interest 9 (778)
PROFIT / (LOSS) FOR PERIOD 6,181 (1,218)
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Results by monthMonths PROFIT/(LOSS) FOR
PERIOD£
January - February (3,310)
March - April 2,092
TOTAL (1,218)
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Top selling linesPercentage of cumulative
turnover
1. Newspapers and magazines 32.6
2. The Deli 21.1
3. Confectionery and soft drinks 13.6
4. Bread and grocery 12.5
5. Tobacco 9.5
6. Household goods 1.9
7. Raw meats 1.8
8. Cards and stationery 1.8
9. Fruit and veg 1.6
10. Stamps 1.3
The rest 2.3
100
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Balance sheets31 December 2010 30 April 2011
£ £
Fixed Assets at Net Book Value - 95,298
Current assets: Stock and debtors 715 14,667
Cash 67,692 22,945
Current liabilities (566) (7,964)
Deferred income - grants (10,200) (40,446)
Long term liabilities (17,757)
NET ASSETS 57,641 66,743
Balanced by:
Share capital 51,460 61,780
Reserves at 31 December 2010 6,181 6,181
Loss for period to 30 April 2011 (1,218)
Shareholders funds 57,641 66,743
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Further services and costs The role of the volunteers The role of the village Challenges
Future plans and the support we need
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Q & A
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Gawsworth Community Shop LimitedAnnual General Meeting
RESOLUTIONS TO BE PUT BEFORE THE MEETING
1. Appointment of Directors of the Board
2. Resolution to remove the need for an external audit for 2010
3. Resolution to approve draft accounts to 31 December 2010
4. Resolution to remove the need for an external audit for 2011
Any Other Business
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Increase your basket size
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YOUR fab new shop -use it or lose it!