Minutes AGM2007

Minutes of the Annual General Meeting of Bristol Wireless Community Co-operative held at 3.00 pm on Sunday 17 June 2007 at The Cube Microplex, Dove Street South, Bristol

PRESENT: Ian Costello, Julien Weston, Pete Ferne, Sam Rossiter, Lloyd Cohen, Andy Sabel, Ben Green, Robert Bailey, Rich Higgs, Steve Woods

IN ATTENDANCE: Malcolm Gordon

APOLOGIES FOR ABSENCE: Sean Kenny, Chris Pickering (Future Learning)

1. The receipt of the accounts and balance sheet and of the reports of the committee.

a) Julien Weston, treasurer, presented the accounts, balance sheet and report of the committee for the 2004 financial year. At the end of the year the accounts ended with a surplus in excess of £6,000, which represented a very satisfactory year financially.

b) Julien also presented the 2005 accounts, balance sheet and report to the meeting. These showed an increase in income to some £40,000, of which £10,000 was unrestricted. The year closed with a healthy surplus of over £6,000 unrestricted funds and a total of £8,000 carried forward to the next financial year.

c) Preparing the 2006 accounts is currently in progress. Rich Higgs asked about the position concerning the convening of an extraordinary general meeting; it was confirmed that this was a possibility and we ought to consider aiming for mid/late August as a target date if such a meeting is desirable.

It was proposed by Rich Higgs and seconded by Ian Costello that the meeting accept the two sets of reports, balance sheets and accounts for 2004 and 2005. The proposal was approved unanimously.

2. The appointment of an auditor or the application of the audit exemption (in accordance with rule 54).

Pete Ferne pointed out that to date Bristol Wireless had waived the appointment of a full audit, opting instead for a review by Malcolm Gordon. Bristol Wireless is only legally obliged to undergo a full audit if its annual turnover exceeds £250,000. Sam Rossiter considers we ought to have a full audit (cost approx. £500 p.a.), but thinks it would be advantageous to get feedback from funders before any appointment decision is taken.

It was proposed by Ben Green and seconded by Sam Rossiter that Bristol Wireless apply the audit exemption. This was carried nem con.

3. The election of the members of the committee of not less than three and not more than fifteen persons (in accordance with rule 34).

The following persons had previously expressed their willingness to serve on the committee:

• Pete Ferne
• Steve Woods
• Sam Rossiter
• Rich Higgs
• Julien Weston
• Ben Green
• Lloyd Cohen
• Sean Kenny

It was proposed by Rich Higgs and seconded by Julien Weston that the above persons be elected en bloc to serve as the committee. This was carried.

4. The application of profits (in accordance with rule 59):

1. firstly to a general reserve for the continuation and development of the co-operative;
2. secondly in paying dividends on issued share capital at a rate not exceeding 10%;
3. thirdly in making payments for social and charitable purposes within the community served by the co-operative.

It was proposed by Ben Green and seconded by Rich Higgs that profits be applied to a general reserve. This was approved nem con.

There being no further business, the meeting closed at 3.35 pm.

Committee business

Immediately after the close of the AGM, the members of the committee present met and deliberated the following matters.

1. Election of officers

1. Chair - Pete Ferne (proposed Lloyd Cohen, seconded Ben Green
2. Treasurer - Julien Weston (proposed Pete Ferne, seconded Rich Higgs)
3. Secretary - Steve Woods (proposed Julien Weston, seconded Rich Higgs)

The election of the above officers was approved nem con.

As regards the size of the committee, for the coming year it was proposed by Sam Rossiter and seconded by Pete Ferne that it be kept to 8 members, unless good reason be found otherwise. This was approved.

2. Signature of accounts

The accounts as approved at the AGM were signed by Julien Weston, Rich Higgs and Steve Woods, with the latter being instructed to forward them to the FSA.

The meeting closed at 3.45 pm.