Financials & AGM

FINANCES

Annual Accounts & AGM

Marchington Community Shop’s Annual General Meeting was held via Zoom Virtual meeting on the 19th January 2021 at 8pm.

Shop AGM key points for year ending August 2020

The shop stayed open to serve its customers throughout the first lockdown from March 23rd initially for two hours a day, and then with increased hours. Whilst we had to adjust our hours for a few weeks whilst volunteers were assessing their own situations, thanks to them, we were able to be back open in the summer very close to our original hours. I would like to offer huge thanks to all our volunteers, and to Tracy, Penny, Alf and Will Smith for their contribution to our success in serving our customers over this financial year. The lock down period has also resulted in new volunteers stepping in, keen to support their community.

Pre lockdown, we recovered almost immediately from being flooded in February and as a result, made improvements to our future resilience to flooding by investigating the installing of floodgates (now fitted and funded, but outside this financial year).  We have also increased our security with new lighting and remote cameras.

We hugely improved the range of products sold, to meet customer demand over this period, with big increases in sales in fruit and vegetables over the summer, and, throughout the year, in wines, breads and cakes.  We had to replace our shop freezer at short notice in June because the previous one stopped working overnight.  

We have increased our 50/50 club membership over the period; participants increased from 118 in Nov 19 to 154 in Nov 20. This is in part due to an improved systematic process for welcoming newcomers to the village with a free shop ‘goodie bag’.  We have also put more effort into communication of what’s going on via Instagram, Facebook and Twitter and are getting better at increasing engagement on social media. In addition to this regular emails go out to 262 email addresses and this is believed to be, by far, the biggest village-centred distribution list, proving to be particularly important in disseminating news during periods of lockdown.

We have also seen changes to our shareholder membership, with newcomers joining whilst we have a record of one of our original shareholders having died in this period. The shareholders register now stands at 197 (as at 19th Jan 2021)

The annual fundraising event, Open Gardens, was not held because of the coronavirus restrictions. However we benefitted from other fundraising events including a very successful garden plant ‘Drive Sale’ by Phil Shelton, for which very many thanks, and a ‘virtual’ Open Gardens by videolink, thanks to many who allowed us to film their gardens, and Sam Lock for putting it together.  We also continue to benefit from the generosity of our supporters. A special thanks to Leigh Hilton for providing excellent quality kindling for the shop to sell, free to the shop and to Jane Hilton for her continuing initiatives to provide plants, herbs and outdoor products for us to sell.

Note: other good news that has happened into the current financial year:

New shop computer, which is faster and should be more reliable

Celebration of 10th anniversary including volunteer bios and raffle funded by suppliers

Generosity of other customers in donating sums of money and a Xmas raffle hamper.

I can also report that the profit for the year of £9,552 is well above Budget and 2019 due to increased sales and to the grants we have received. This is despite the loss of most of the normal fundraising we would do. Our percentage margin is lower than expected, and we put this down to the rather hectic increased buying and selling we did to support our customers in March, April and May in particular.

Attached below is a summary of the figures. Please click on the icon to download.  Terry (our Treasurer) and I are happy to receive any comments or questions. Also attached is a copy of the AGM Agenda.

Best Regards

Liz Morgan
Chair - Marchington Community Shop Board

Annual General Meeting Summary