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We are pleased to invite our shareholders to our

Annual Members' Meeting
10:00am Saturday 18th Nov 2023 
Chapel Stores, Chapel Lane, East Boldre, SO42 7WP

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Management Committee Elections

Our rules allow 3 - 10 members to serve on the management committee. 

We currently have six members:

  • two founder members

  • four co-opted members

All must resign at this AMM but may chose to stand for re-election.

 

If you are a member and would like to stand for election please submit your application by noon on Monday 6th Nov 2023. ​

Management Committee Elections
 
We will publish the list of candidates here on Tuesday 7th November.

You will then be able to vote for up to 10 candidates to represent you on the management committee.
You may vote for less than 10 but if you vote for more your ballot paper will be void.
You will need your membership number to vote which is on your share certificate. 
Each member may vote once.
 

The Audit Options for Our Community Benefit Society Explained 
Community Benefit Societies have four financial audit options (only one of which is actually a formal audit).

Our society has a rule which gives us the power not to appoint auditors to audit our accounts (option 4) subject to a vote with an appropriate majority (80%) at our Annual Members’ Meeting.

  • We satisfy the FCA’s requirements for this rule to be applied (our turnover <£5.1m and assets <£10.2m).

  • Fawcetts quoted £5000 to audit the accounts and balance sheet (option 4); The management committee do not consider that this represents good value for money as it is not required by either our rules or the FCA.

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The FCA very helpfully provides a decision tree to determine which type of audit is required.

  • It shows that for the financial year 2022/23 we could opt for unaudited accounts (option 1) as our turnover for that year was below their threshold.

  • However, some of our grant awards require an independent report on our accounts (option 3) so we have appointed Fawcetts to carry this out for the financial year 2022/23.

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Therefore, the resolutions we will propose to our members at the AMM are:

  • Not to appoint a qualified auditor to audit our accounts as allowed by our rules and FCA requirements

  • To accept Fawcetts report on our accounts for 2022/23.

 

The Community Ownership Fund (COF) also requires an independent audit specifically of our COF expenditure (to check we have spent the funds in accordance with the terms of the grant). We will separately commission Fawcetts to carry out this audit at the appropriate time.

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