Annual Members’ Meeting For Year Ending 30th Sept. 2018

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50 members of the HRCS Ltd attended the 7th Annual Members Meeting in St. George’s Hall on 15th February 2019. The Chairman of the Management Committee, David Clements, was able to report another successful year, with profit before tax up from £5,964 to £6,757 and an increase in shareholders’ funds from £247,989 to £254,836. Other financial highlights included using some surplus cash to pay down £10,000 of the mortgage, which stood at £160,818 at 30th September 2018.       

David presented the following two slides, which are based on information abstracted from a recent survey of Community-owned shops:

Members177almost 400
Paid Jobs48
Gross Margin22%23.1%
Net Profit£3,816£8,027
Management Committee710

Other survey statistics:

  • 57% of shops have a mix of paid staff and volunteers.
  • Only 26% of shops own their freehold.
  • 43% of shops have a cafe.
  • 59% of shops have a Post Office.

Conclusion: We’re not doing badly!

Categories: News