YARPOLE COMMUNITY SHOP ASSOCIATION LTD.
Annual Members’ Meeting
Thursday 5th June 2025 at 7.00pm
at St Leonard’s Church, Green Lane, Yarpole HR6 0BB
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1. Welcome
The Chairman welcomed everyone to the AMM. 38 members were in attendance.
2. Apologies
18 apologies were received.
3. Approval of the minutes of the AMM held on 5th June 2024
The approval of the minutes was agreed by a majority.
4. Matters arising from the minutes of the 2024 AMM
There were no matters arising.
5. Chairman’s Report
The Chair, Jon Pitts (JP), thanked the members for attending the AMM. JP presented his report:
It has been a solid year but with continuing challenges from cost increases such as stock, electricity and salaries. Unfortunately, cost rises are having to be passed on to our customers in price rises. Sadly, we are unable to make community grants available this year.
There were major technical challenges just prior to Christmas but trade over the period was strong with very well-judged stocking by Rowena.
Safeguarding guidelines have been agreed and shared. The tired signage has been replaced and the new counter commissioned and installed. The Board is working very well with an established distribution of responsibilities with clear roles.
There is ongoing media interest in our shop this past year but a little quieter than before. The BBC interviewed Rowena and Rose Jenkins in April following the community volunteering party marking 20 years since formal founding of the shop. The Chair was also interviewed on live local radio and there are other possibilities planned by the BBC.
We continue to be held up as an exemplar and inspiration and are frequently contacted by other communities looking for advice and inspiration.
Looking ahead we are continuing to focus on margins and managing costs wherever possible. A dedicated shop website is under consideration, possibly with an e-commerce element.
New committee members are needed and very welcome! There are two key posts that need to be filled in the year ahead . Please feel free to have a ‘no obligation’ chat with any of the committee this evening.
The Chair also thanked Rowena and Kate; all the amazing “team shop” volunteers - from front of house to bins, via papers and all that goes in to make up our “team shop” and a welcome to all our new volunteers; to Linda our Sub Post Person; and by no means least my colleagues on the Board over the last year and beyond; and most importantly to you for being loyal customers, shareholders and supporters of our shop.
6. Report on the state of membership and the membership strategy
Total membership currently stands at 324 compared to 320 last year. We continue to promote share ownership through leafleting new residents, etc. There has been a very encouraging take-up by new residents, some of whom are now part of the shop community.
7. Receipt of the Financial Accounts for 2024
The Chair presented the 2024 accounts and explanations by Toby Slade,(TS), Treasurer: Sales have grown at a much lower rate than in 2023, with £2945 growth in 2024 versus £14079 in 2023. This is partially explained by no ‘Made in HR6’ event in 2024 as well as the loss of some of the larger spending account customers. This smaller turnover growth together with rising stock costs has resulted in a lower gross profit. Total administrative costs for 2024 have seen a minimal increase over 2023, partly because no community grants were paid out in 2024 and despite significant increases in the costs of energy, insurance, staff costs and repairs and maintenance in 2024. There is an 18.50% gross profit on sales in 2024 which is a small percentage drop from 2023
The surplus figure of £9972 is misleading as this includes the £10,000 donation income. The counter has been paid for in full but has been treated as a fixed asset therefore over the next four years, an additional annual depreciation charge of approximately £2,500 will be incorporated into ‘Admin Expenses’. Considering these factors, the bottom-line figure for 2024 should reflect a loss of £28, which is £174 below the corresponding figure in 2023.
In conclusion, in a difficult financial climate, the shop managed to almost break even in 2024. The shop remains sustainable.
2025 sales to the end of May have remained reasonably flat between the two years. However, a significant increase in the administrative (or non-product) costs during the first five months of 2025 results in the shop being approximately £1800 worse off than at the same stage last year. The higher administrative costs are due in part to annual increases in insurance, staff-related costs and electricity and partly due to new costs such as churchyard maintenance and signage.
The complete accounts for 2024 are available to view in the shop.
David Cheshire asked why the 'Investments' figure for 2024 on the balance sheet showed as £0 when the 2023 figure had shown almost £17000. TS explained that towards the end of 2024, the committee agreed to close the Hampshire Trust 120-Day Notice Account and transfer these funds into a new Hampshire Trust Easy Access Saver account, which had a better interest rate. As the account is instant access, these funds are now shown as part of the 'Cash at bank and in hand' figure and not in 'Investments' on the balance sheet. David asked for clarity that this account was earning interest and TS confirmed this to be the case.
As a follow up question, Audrey Bott asked what the shop's reserves currently are. TS responded that the shop's current account is usually between £12 and £20K each month, and the Hampshire Trust Easy Access account has approximately £20K in it (the actual figure is currently £24785).
a. Acceptance by the members of the 2024 accounts
Acceptance of the accounts was proposed by Audrey Bott, seconded by Angela Barnett and passed by a majority.
b. To agree that the 2025 accounts may be prepared without an audit and presented with an accountant’s report.
Proposed by David Cheshire and seconded by Gordon Ewing. This was passed by a majority.
8. Appointment of Kendall Wadley as Accountants for 2025
Proposed by David Cheshire and seconded by Gordon Ewing. This was passed by a majority.
9. Election of the Management Board
The following Board Members are standing for re-election:
Jon Pitts - Chair
Lindsay Slade - Company Secretary
Paula Drurey - Bookkeeper
Toby Slade – Treasurer. Payments, Payroll, VAT, HMRC, etc.
Steve Drurey - Alcohol licensing and Technical ‘Fixer’.
Kate Griffiths - Volunteer coordinator & liaison
JP suggested all standing for re-election be voted for en-masse unless any objections. This was proposed by Carol Clare, seconded by Helen Edwards with the existing board then duly re-elected by a majority.
Before closing the meeting, the Chairman showed some archive photographs giving a brief history of the development of the shop.
The meeting closed at 7.40pm.