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Minutes of the Annual General Meeting held on Tuesday 20^h May 2025

Members

Mrs K Creese took the chair, apologies received from Mr L Pierce. All other committee members were present with a further 18 society members present.

Minutes

Minutes of the previous annual general meeting held on 25^th June 2024 were confirmed and signed, proposed by Mr M Cort and seconded by Mrs V Walker.

Matters Arising

None

Chairman’s Report

Good evening,

Before we begin, this meeting will be audio-recorded for monitoring purposes. Please save any questions you may have until I have finished the report.

I would like to invite everyone to join me in observing a minute's silence in memory of members and friends who sadly passed away over the last year.

Currently, we have three empty properties—one about to be re-let, one under renovation and one waiting for renovation. We aim to complete all work and have these properties re-let to new tenants within the current financial year.

I'm pleased to report that our finances are in a healthy position. Through careful planning, we have managed to turn last year's deficit around to a profit this year.

The profit figure equates to approximately half of one property renovation. A rent increase was felt necessary this year so that empty properties' renovations can continue at a sustained or, dare I say, faster pace while continuing to provide the same level of service to all residents. The rent increase is forecasted to increase our income by £18,000 this year, contributing to the work needed on the empty properties. Mr Smith will give further details on the finances shortly.

This year's painting programme has commenced on Laburnum Road, and several properties are also receiving new fascias and gutters. This work allows us to address roofing issues where needed. The committee is aware that more properties are awaiting similar updates, and we will continue this work as funds become available.

We strive to carry out repairs promptly and efficiently, and in some instances, repairs reported on the same day are rectified. However, there are times when delays occur due to the type of repair required and the availability of our contractors.

Our contractors are trusted professionals and should be allowed into the tenants' houses if a repair is needed. If appointments have been made and no one is home, the contractor will charge the tenant a cancellation fee. We will always inform tenants if an appointment needs to be rescheduled.

Please note that the emergency repair phone line is available between 3 pm and 9 am and whenever the office is closed. However, this is not a 24-hour emergency service, and we appreciate tenants' understanding. If you are contacting the 1emergency phone, please leave your name, address and a brief description of the problem, and a committee member will contact you as soon as possible.

In our efforts to be more environmentally friendly and cost-effective, we kindly request all tenants and shareholders to provide an email address for all future communications if they have one. We are increasingly finding it challenging to rely onRoyal Mail's delivery times. We appreciate the many residents and shareholders who have already provided their email addresses.Finally, boundary fencing to the council allotments is set to continue this year. We have faced some issues through no fault of our own that have delayed the work commencing, and we are currently working with Leicester City Council. We hope all the work in the originally proposed phases will be completed soon.

While on fencing, I would like to clarify the current policy on garden fencing in properties. Tenants who own dogs must ensure their gardens are secure to prevent pets from escaping. All tenants are encouraged to work with their neighbours when fencing requires repair or replacement. The estate will only provide posts and wire strand fencing for boundary demarcation. If you are unsure of the boundary line,please contact the office so committee members can visit and assess.The committee would like to remind all tenants not to alter boundaries by placing fence panels midway through gardens. Gardens form part of the property, and tenants are expected to keep them tidy, i.e. bushes & hedges trimmed and grass.Please do not leave rubbish and unwanted items in gardens.This concludes the Chairman's report.

Questions relating to Chairman’s report

None.

Auditor’s Report

Mr Smith presented the audit report. Tests designed to give a reasonable prospect ofdetecting fraud within the accounts were used during the audit, and the auditor is happy that there is nothing to bring to the shareholders' attention and that it is a clean audit report.

The overall income of the society is static compared with last year. Still, there was a significant reduction in the cost of maintaining and improving properties, which fellby £60,000 since the previous year.

Administrative and running costs are very similar to last year. The result is that theloss before tax of £34,000 in 2024 has been turned into a profit of £25,900. Becauseof the previous losses and the minor allowances claimed, no tax will be payable on this year's profit. The society has £30,000 of accumulated tax losses to carry forward, which means a profit of up to £30,000 can be made during the current financial year before any tax is due.

The balance sheet explains society's fixed assets, which slightly increased due tosome new office equipment purchased throughout the year. There were no outstanding debts on 31st January 2024. Total assets now stand at £137,446.

Over the last 2 years, share capital has fallen slightly. The detailed income and expenditure were explained. The society has a healthy financial position with more than adequate cash reserves.

Mrs J Bradshaw proposed that the accounts were accepted as a true record, seconded by Mr M Osborne.

Mr M Cort proposed the re-election of Cunningtons & Co. as auditors for the coming year, seconded by Mrs J Bradshaw.

Arbitrators

Not required at this time.

Remuneration of Committee

Remuneration of Committee Mrs J Bradshaw proposed increasing committee fees to £3.00 per meeting, seconded by Mr G Baker. All in favour. Motion carried.

General Business

A shareholder thanked the committee for the clear information received about the society's finances and asked if it would be possible for shareholders to be provided with a short breakdown at each general meeting in the autumn. Mrs Creese replied that the committee would look into supplying this.

A shareholder reported that the roofing work carried out at Laburnum Road properties was of a good standard, but a few residents reported inappropriate behaviour by some of the operatives. Complaints were also received about loud music being played. Mrs Creese stated that the lead contractor would be contacted about the complaints.

A shareholder asked if the contractor's work was checked once completed. Mrs Creese replied that the maintenance contractor checks the work on completion.

Mrs Creese announced that Mrs Benning would be retiring from the committee after almost 49 years of service. She was thanked for her services to Anchor Tenants and presented with a bouquet.

These minutes are the official record of what happened, not a verbatim account.

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