2006 SARS LTD AGM MINUTES
Minutes of the twenty-third Annual General Meeting of the Company SARS Ltd held at Lloyds Register EMEA, Aberdeen on Wednesday 27th September 2006
Present: Mr M P Cottam President
Mr D C Holland Chairman
Mr M R Sleath Shareholder Representative
Ms S C D Young Director
David Holland as Chairman welcomed the members of SARS Ltd to the meeting. He
explained that the AGM’s of The Safety and Reliability Society and SARS Ltd would be intertwined so that the financial reports could be dealt with together. Safety and Reliability Society owns SARS Ltd and Mr M R Sleath had been nominated by Council to give the Safety and Reliability Society vote.
- 2005 AGM. The minutes, reports and accounts for the SARS Ltd 2005 AGM had been placed on the website. They were accepted by the Shareholders Representative
- The report of the directors was given by the Chairman and accepted by the Shareholders Representative.
- The financial report was deferred in order to be considered alongside the Society financial report. Sarah Young, then gave a financial report for the previous financial year. This included positive items regarding income from mailshots and the annual conference, in addition to more efficient collection of bad debts. This was due to the 6K initiative which provided for better staffing of the office. Sarah Young commented that this investment had paid off. The new budget was again cast within the 6K initiative.
The budget for 2006/7 was:
New budget:
Society Limited
New Budget New budget
Income Income
Subs 32000 Mailshots 8000
Affiliates 12000 Events 5000
Misc 550 Interest 250
------- -------
44550 13250
==== =====
Expenditure Expenditure
Sec 540 Sec 60
Salaries 25740 Salaries 2860
Office 13500 Office 5500
Journal 4000 Accountant 1000
Postage 5000
Accountant 1000
Miscellaneous 1500
Sundry 675
Committee exp 1700
-------- ---------
53605 9420
===== =====
Income – exp ===== =====
-9055 3830
===== =====
Group -5225
The financial report was accepted by the Shareholder Representative.
- Directors were elected as follows:
Mr D C Holland (Outgoing Chairman of the Society)
Mr M R Sleath (Chairman of the Society)
Mr A D Bain (Chairman Elect of the Society)
Mr P J Stanton (Incoming Treasurer)
Mr R J Denning (Incoming President)
All appointments had been approved and endorsed By Council at an earlier meeting.
- It was resolved that Voisey and Co Chartered Accountants should be reappointed as auditors and to authorise the Directors to agree their remuneration. This was accepted by the Shareholder Representative
- There being no other business the meeting was closed and the Safety and Reliability Society AGM continued
Jacqueline Christodoulou
Secretary
30th September 2006