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Lyvennet Community Pub Ltd - 6th AGM Agenda and Updates

Get updates on the 6th Shareholder Annual General Meeting of Lyvennet Community Pub Ltd, including agenda, minutes, financial reports, and election of directors. Learn about the pub's achievements, activities, and future plans for the community.

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Lyvennet Community Pub Ltd - 6th AGM Agenda and Updates

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  1. Lyvennet Community Pub Ltd Registered Office Hall O’Th Gate Crosby Ravensworth Cumbria CA10 3JP Company Registration: 31175R www.lyvennetcommunitypub.com

  2. 6th ShareholderAnnual General Meeting 22nd July 2017

  3. Agenda • Introduction & Apologies • Minutes of 5th AGM dated 2nd July 2016 • Annual Report • Financial Report + Accounts to 31st December 2016 • Resolutions • Election of Board of Directors • The next 12 months • Any other Business

  4. Introduction and Apologies

  5. Minutes 5th AGM 2nd July 2016

  6. Annual Report

  7. Our Company • Lyvennet Community Pub Ltd • Registered Company – 31175R • Industrial + Provident Society • Registered 10th February 2011 • VAT Registered www.lyvennetcommunitypub.com ADDRESS CHANGE Hall O’Th Gate Crosby Ravensworth Cumbria CA10 3JP

  8. Current Directors David Graham Chair Cameron Smith Treasurer Christine Smith Secretary Douglas Henderson Stephen Holroyd Daphne Baird Keith Taylor

  9. The Objects The objects of the Society shall be to carry on any business for the benefit of the Parish of Crosby Ravensworth by acquiring the freehold premises of the Butchers Arms Public House, Crosby Ravensworth to provide a venue for the community which provides social gathering, employment and tourism within the community, event facilities and additional facilities for the community.

  10. Tenancy Termination • Early Notice to Terminate tenancy – 3 Nov 2016 • Challenging process • Special AGM • Pub closed 31 Dec 2016 • Tenants vacated 12 Jan 2017 • Inventory + Stocktake undertaken and agreed

  11. Inventory • 2131 items • Cutlery, dishes, cooking equipment etc • Each item - Purchase value and year of purchase • Value depreciated over an agreed period (5 / 10 years) • Current value £3971 + VAT Example 58 side plates – Purchased £197.78 in 2011 – 10yr depreciation Current value £84.06

  12. LCP Operations • Premises Licence updated • Re-opened for drinks 12 Jan 2017 • Extremely well supported • Run by volunteers and previous staff • LCP responsible for all services • Premises Licence • Stock, cash handling, security, staffing etc • Circa 8 weeks – open 39 days • Remedial works undertaken

  13. Tenancy • New tenants 6th March 2017 • Stocktake at handover • Tenants Inventory agreed • Write down period • Purchase cost – written down value • 2 way agreement • Inventory being paid over 1st 12 mths • 1 month rent free start to tenancy • Premises Licenceupdate

  14. The Butchers Arms Tenants: Jon + Katie Metcalfe Telephone No. 01931 715500 www.thebutcherscrosby.co.uk

  15. Tenants

  16. Activities • Tuesday night music group • Wednesday walking group • Health + Well Being Lunch club New and to come • Themed food nights • Triangular Beer festival • Live Music • Lyvennet Up

  17. Events Board – A Flavour

  18. Statistics • LCP website – 20,000 hits • Trip Advisor – Jon + Katie • www.thebutcherscrosby.co.uk

  19. Feedback We would like to express our gratitude to you and the committee members for all their hard work in keeping the pub going despite the pressures you have been under. We are delighted with the new tenants John and Katie who have turned the pub around and made it once again a happy and welcoming place, with excellent food.

  20. Theguardian7 July 2017 When the only pub in the Cumbrian village of Crosby Ravensworth closed its doors in 2009, residents decided they were not prepared to simply sit back and accept the loss of a vital community hub. They took matters into their own hands, setting up a financial co-operative to bring their local back to life – which meant putting in their own money. For a minimum investment of £250, villagers and others sympathetic to the cause could become a “co-owner” of the Butchers Arms. A May 2011 article in the Guardian highlighting the venture contributed to a surge in the number of people signing up, and it was not long before the target was reached, allowing the co-operative to buy the pub, refurbish it and open its doors once again to drinkers and diners (the then-prime minister, David Cameron, even popped along to officially open the bar). Six years on, the Butchers Arms is thriving and very much “back on the map”, said husband-and-wife landlords Jon and Katie Metcalfe. In 2011, co-operative pubs owned by members were a rarity – there were only about half a dozen others – but it seems the idea of local people taking ownership of a vital amenity has caught on. A report issued this week revealed that the number of co-operative pubs open for business has now reached 50 and there are 90 groups actively exploring setting one up. BBC NEWS The Papers

  21. Contents • What’s in a name? • The history of our pub • Saving the village pub • The new owners • Old makes way for new • The VIP visits • The grand re-opening • 3 yrs on • Supporters • Contact

  22. Fundraising Events at the Butchers £3,046 Raised Recipients: St Lawrence Church C/R Nursery C/R 1st Responders Mountain Rescue Cumbria Community Foundation LCP Children’s Christmas presents

  23. Lyvennet Up 26th August 1 – 7pm Stoneworks Garth Field, Crosby Ravensworth Live Music Barbecue Photo Booth Garden Games Pimms Tickets – The Butchers, Kitty’s Salon + Appleby Brewery

  24. Maintenance • Kitchen equipment renewal + maintenance • Rear lead valley gutter redesigned and replaced • Chimney works • Foul drainage problems resolved • Painting + decorating

  25. Adoption of Annual Report

  26. Financial Report andAccounts to 31st December 2016

  27. 12 months to end June 2017 Income • Rent – £15,378 (including insurance + VAT) – Down £6,565 Running Pub Stock - £10,313 Sales - £16,350 Expenditure • Shareholder Interest - £8,049 • Maintenance + Equipment renewal - £5,720 • Inventory Purchase - £3,768 • VAT - £2,040 • Accountants - £1,440 • Premises Licence - £301 • Bank Charges - £586

  28. Accounts Balance Sheet at 31st December 2016

  29. Bank Account @ 30 June 2017

  30. Shares • Secretary logging formal requests for shares – currently circa £2k waiting • Any that become available will be sold to individuals who have been registered the longest • Additional shares in lieu of interest 2016 - £867 • Shareholding currently £310,217 • Movement • £7,800 Withdrawn • £8,350 Acquired

  31. AGM Formal Business

  32. Business Resolutions

  33. Resolution – Interest Payment 5 (a) - Interest payment Interest payment 2016/17 has seen expenditure on the appointment of new tenants, internal and external maintenance ant the repair of some of the catering equipment. Shareholders need to be aware that funds are required for the last major element of the Butchers Arms refurbishment; the toilets. It is hoped that this work will be supported by grant funding and also utilisation of rent income and will be completed in 2017/18.   The Board propose making a 3% interest payment for 2016/17. The Resolution is therefore The Board of the LCP proposes a 3% share interest payment. The payment WILL ONLY be by; a) Direct bank transfer (dated 31 August 2017) or b) The purchase of additional shareholding or c) Donation to the LCP funds Interest is paid gross and shareholders are responsible for declaring interest payments to HM Revenue and Customs.

  34. Resolution – Adoption of accounts 5 (b) Resolution – Adoption of Accounts Dodd & Co, the LCP’s accountants have now finalised the 6th set of company accounts covering the period to 31st December 2016 These accounts need shareholder approval before they are forwarded to the Financial Services Authority. The Resolution is therefore: The LCP Accounts for period ending 31st December 2016 are approved

  35. Resolution – Auditors 5 (c) Resolution – Auditors Dodd & Co have completed the third set of LCP accounts to 31 December 2016. These accounts now need to be presented to the Financial services Authority. As shareholders we are required to record through a formal resolution our requirements with regards external auditing of these accounts. From a legal perspective, given our turnover, there are no statutory requirements for auditing. Dodd & Co, our accountants, are a fully regulated independent accountancy practice and it is therefore recommended that the LCP does not need to incur the additional expense of independent auditing. The Resolution is therefore: External auditing of the LCP financial accounts is not required for financial years ending 31st December 2016 and 2017.

  36. Election of Board of Directors • The Rules of the LCP Ltd state that the number of directors must be not less than three and not more than eight. Currently 7 Directors. • One third of the Directors have to stand down at this AGM; 3. No other nominations received 4. Directors standing down up for re-election Daphne Baird, Douglas Henderson and Christine (Kitty) Smith 5. Biographies issued Election Outcome

  37. The Next 12 months • Business as normal • Support for Jon + Katie where required • Maintenance as required • Toilets • Planning and grant applications for toilet refurbishment

  38. Toilets

  39. Any Other BusinessLodged items / questions

  40. Next AGMTo be notified

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