Minutes Of Meeting Held On Tuesday 24th February 2016
None and Jack Morgan was invited to attend.
Minutes of last Meeting and Matters Arising:
The Ascott Shop Summer Newsletter will shortly be published in the forthcoming Grapevine Magazine.
Preparations have been made for the forthcoming AGM.
Two smart bike racks have been installed on the left hand wall in front of the shop.
Having sourced more reasonably priced Ice creams & lollies they are selling well.
New Fire extinguishers have been installed.
Biodegradable bags carrying the shop logo are being printed.
Shop Managers Report:
The new canopy looks lovely and really helps to keep the front of the shop cooler.
The introduction of Fresh Flowers and Potted Plants has had a very positive effect on the overall look of the shop, especially over the weekend.
COOK continues to sell steadily as do fruit and vegetables.
In an effort to improve or add to product ranges we have recently introduced Cotswold Traiteur products and will be trialling an alternative supplier for Bake-off and Ice Cream.
We shall soon have a folding shelf outside the shop to display goods and a table & chairs is under consideration.
Cash: Our cash position remains strong. We have £7,494 in our day-to-day account used to pay our suppliers and wages etc. In addition we hold funds as a long-term investment totalling £20,160.
April Trading: In April we broke even on sales of £10,096. Margins are good at 23.9% and overheads were £94 below forecast. In the first four months of our financial year we achieved sales of £39,686 and showed a small loss of £100, this compares with sales of £44,018 and a profit of £107 in the same period last year. Although it is disappointing that sales have declined by 9.84% we have offset this by increasing our gross profit from 22.98% to 23.95% and reducing our overhead costs by £400. We need to maintain sales (excluding VAT) of at least £2,500 in order to break-even.
Stock Turn: One effect the reduced sales in 2016, whilst maintaining a well-stocked shop has been an increase in our average stock-turn (excluding newspapers), which makes buying more difficult and may lead to more waste and price mark-downs. The average number of days that our stock takes to sell has increased from 47 days in 2014, to 52 days in 2015 and so far in 2016 68 days.
Staff & Personnel:
We are delighted to welcome Anne Askwith, Rowena Gulland and Bel Lovel to the Till Team.
An analysis of who serves on the till shows that, on average, we are utilising 70% volunteers vs.30% paid staff (excluding managers wages). It is important for our shop sustainability to maintain this level and not drift back to where we were a few years ago at approx 50/50.
Marketing & Communications:
Despite having the Summer Newsletter in the Grapevine & Wychwood Magazines it is felt Marketing could be improved and Jack Morgan has kindly offered to give input in this area.
New Management Committee 2016/17:
Sadly John Cull is standing down as Chairman and will be greatly missed, although he will now be opening the shop on Wednesday Mornings from 7th July, we are grateful to Lawton for filling this shift until John has fulfilled his work commitments.
Mark Tribe formally thanked him on behalf of the Committee for his outstanding efforts over the last 2 years.
Nominations are still being sought for the new Committee and need to reach the Secretary before 14th June 2016.
Any Other Business:
The Summer BBQ will be hosted by Mark & Sarah Tribe and will be discussed by the new Management Committee after the AGM.
Late night opening is no longer required as the train now comes in before the shop closes for the day.
DON'T FORGET THE AGM TUESDAY 21ST JUNE – SWAN PUB AT 7PM!
Meeting finished at 9.30pm