Minutes of 2006 AGM on 19th March

Minutes of the Annual General Meeting 19th March 2006 Held at TWI, Granta Park

Chairman’s Report The Chairman reported that the club now had 189 members, slightly down on last year. He said that it had been a tough year, including the hand over from the SBS to EEDA of the management of the Research and Development Awards. He noted that discussions are in hand with new sponsors, including Mills & Reeve. He described the four meetings that had taken place during the year, on Contract Law, the pros and cons of funding, finding manufacturing partners in Europe and the UKTI. He closed by thanking all sponsors, namely the SBS, NatWest Bank and TWI, without whose support the club would not be able to undertake as much as it does. He indicated that TWI have said that they will continue to provide the venue, for which we are very grateful
Acceptance of last AGM minutes The minutes of the last AGM were accepted without amendment.
Matters arising There was no matter arising
Treasurer’s report The Treasurers submitted his report in absentia, the text of which is reproduced below: 
  1. The Financial Statement for the year ending 31 January 2006 has been prepared by Ballams, Chartered Accountants, of Ipswich. The statement shows a surplus for the year of £2,358 compared to a deficit of £9,452 in the year ending 31 January 2005. 
  2. Total income in the year was £8,567 compared to £10,163 in 2004/5.
    1. Income in 2004/5 was boosted by fees for a “Finance For Small Business” workshop run by Alan Barrell. 
    2. Membership revenues fell last year primarily as a consequence of a decision by your steering committee to reduce annual membership fees from £100 to £50 per member with the objective of attracting new members. Whilst member numbers increased slightly from 38 to 46 this was not sufficient to show any net gain in fee income. Membership fees will remain at £50 for the coming year.
    3. We remain exceedingly grateful to the Nat West Bank for their continued sponsorship of the club, and to EEDA who have also made a very significant donation. Without their commitment and generosity the club finances would show a very different picture.
  3. Expenditure last year was very significantly reduced from the previous year. 
    1. Expenditure in 2004/5 included a once off cost for a members survey which was not repeated in 2005/6. The 2004/5 income also included payments from members who attended the Alan Barrell workshop.
    2. The catering arrangements changed last year principally as a result of the change-over in management of the SMART/R&D Grant scheme from SBS to EEDA, and also as a result of a decision to reduce the per head budget for catering at Club events. These had a significant impact both on the way the catering was paid for and funded, and a beneficial impact on the cost to your Club.
    3. There has been a significant reduction in administration costs year on year primarily a consequence of once-off costs incurred in 2004/5.
    4. The accounts show an outstanding Debtor of £60. This amount results from non-payment of attendance fees for the Alan Barrell Finance Workshop in 2004/5. Spectronic Devices and Metronika were invoiced but so far have not paid.
    5. Total balances at the bank as at 31 January 2006 amounted to £11,704.
    6. Once again I would like to thank our sponsors most sincerely for their invaluable support and also to thank Ballams for continuing to provide exceptional value in preparing the annual Financial Statement for £50.00 plus VAT.
    7. The Financial Statement was approved by your steering committee at its meeting 23 February 2006. This Statement now needs a proposal and seconder from the floor that these Financial Statements should be accepted and a vote of approval by way of a show of hands from those present at this AGM. The meeting approved the Accounts as presented.
  4. Election Of Officers The elections began with The Chairman, Denis Hodgins, announcing that he would be standing for re-election, feeling that it is time for some new blood. He also said that The Treasurer, Tim Maskell, has asked that he be relieved of his duties as his workload is making it hard to fit them in 
    1. Chairman - Clive Purvis was elected unopposed 
    2. Deputy Chairman - Mark Aspinall of EEDA was elected unopposed.
    3. Secretary – Michael Sanderson, Laser-Scan Ltd was elected as Secretary. 
    4. Treasurer – Matthew Darroch-Thompson was elected unopposed. 
  5. Fees It was announced that the Steering Committee had decided to that the membership fees remain unchanged for the coming year.
  6. The next years' meeting dates (Steering Group and members) The Chairman undertook that the dates of future meetings would be posted on the website. 
  7. Election of Steering Committee Members Richard Moseley of Surgi-Call Ltd was elected as an additional member of the Steering Committee. All existing Steering Committee members were re-elected.
  8. Members Motion There was no Motion proposed by any Member.
  9. Any Other Business 
    1. Clive Purvis asked that the meeting formally thank Denis Hodgins for his tireless work as chairman in recent years, and this was unanimously agreed. 
    2. Denis Hodgins said, to general agreement, that he would like the same thanks to be expressed to Tim Maskell for his work as Treasurer, and to Doreen Mascall for all her work in the back office.
    3. He also asked that we pass our grateful thanks to our generous sponsors, namely TWI and NatWest, without whose help we would be in a much more difficult position. 
  10. Close The Chairman declared the meeting closed.


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