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Minutes of the Annual General MeetingSunday 28 November 2010 Held in the Royal Sovereign Suite PresentThere were 74 members present in total including 62 voting members. 1 Chairman’s WelcomeThe Commodore welcomed members to the 2010 Annual General meeting of Sovereign Harbour Yacht Club Ltd and introduced board members who were sat with her at the front of the meeting as Freddie de Vere (Vice Commodore), Gwen King (Treasurer) and David Griffiths (Secretary). 2 Apologies for AbsenceApologies were received from: Derek Last 3 Approval for Minutes of AGM; Sunday 22 Nov 2009Two typing errors were pointed out:-
The minutes of the 2009 AGM were proposed as an accurate record. Proposed by Alison Attwood 4 Matters ArisingThere were no matters arising 5 Report of the Commodore and DirectorsThe Commodore introduced her report by saying that this was the third year in succession that she had given a Director's report and each year has been very different from the previous one. The Commodore went on to say that SHYC had continued to be challenged by the impact of the recession, with less members drinking at the bar and with large unexpected backdated bills for electricity, water and service charges from Fell Reynolds. The club had also had to bear extra costs in respect of the General Manager's redundancy and the cost of recruiting new staff to manage the business. There were however many examples of positive events and these included continuing to meet financial commitments on time, closer working partnerships with Premier and the harbour office and also with the Berth-holders Association. SHYC had new staff in key roles and there was evidence of increases in the number of private functions in the RSS. The Commodore offered thanks on behalf of the board to volunteers that had recently helped redecorate the club, to Alison and Jonathon for their work on maintaining the much improved notice boards and to past and current debenture holders for their financial support. The Commodore concluded by saying an important difference between this year and last year, was that the Board had learnt lessons from the past and has taken real hands-on ownership and responsibility for the management of the Club, as a business. This has not gone un-noticed by SHYC's main bankers, Clydesdale who were, at the invitation of the board, represented by Nick Price Credit Executive, as an observer at the AGM. 6 Treasurer’s ReportThe treasurer reiterated the comments of the Commodore saying that the financial year has been a very challenging in a number of different ways. There had been an overall loss for the year of £27,754, which was £13,440 higher than the previous year. The treasurer went on to explain some of the detail. Income was down by £21000 (17.5%). Notably the members bar income was down by £13000, membership income reduced by £6000 and revenue streams through training and sponsorship produced a total of £5000 less than the previous year. Other matters of significance were:
The treasurer thanked John Taylor the SHYC book keeper. SHYC have not missed any mortgage or loan repayments during the last year, nor has it fallen behind on payments to creditors, including PAYE & VAT. SHYC has never had an overdraft at either bank and all creditors have been paid within due terms. The treasurer concluded by saying that SHYC are in regular contact with our main bankers and lenders, Clydesdale and asked Nick Price from Clydesdale if he wished to take the opportunity to comment. The treasurer invited questions from members. There were no questions raised. 7 Motions for voting7.1 Adoption of AccountsThe Financial Accounts for Sovereign Harbour Yacht Club Ltd for the year to 30 September 2010 be adopted as a true and fair view of the finances of Sovereign Harbour Yacht Club Ltd. Proposed by: Eddie Bowers 7.2 Appointment of AuditorsPrior to a vote a question was raised concerning the desirability of “market testing” the future appointment of Auditors. It was agreed the board would consider this suggestion in the year ahead. That Humphrey & Co having offered themselves for election are hereby appointed Auditors for Sovereign Harbour Yacht Club Ltd from the period November 2009 until November 2010. Proposed by: Charles Erb 8 Election of Officers and DirectorsElection of Commodore Election of Vice Commodore Election of Rear Commodore (Power) Election of Rear Commodore (Sail) Election of Immediate Past Commodore Election of Treasurer Election of Secretary Election of Membership Secretary 9 Closing remarks from the CommodoreThe incoming Commodore said a very sincere thank-you to Elaine Robinson as out-going Commodore. In his opinion, no one could have been more committed to the often difficult task of being Commodore trying to please at least some of the people some of the time, through a very difficult period for the club. The Commodore spoke of his intention to help build upon the foundations that have been laid, notably in the last 12 months to try and steer the club onto better things even though it is clear that it will be a tough job. None the less, he was looking forward to the challenge, to working with Gwen in her new role as Vice Commodore and the rest of the board who, with a little more help from other members of the club who would like to get involved, have the right skills and experience necessary to keep the club on an evolutionary and not a revolutionary path of improvement. The Commodore thanked everyone for attending after which the meeting was closed.Previous Years Minutes |
