The minutes of the Annual general Meeting , held on 19 August 2009, are attached for informamtion

BAILEY MEWS MANAGEMENT LIMITED

(Limited by Shares: Reg. Number 01683671)

MINUTES Of the

ANNUAL GENERAL MEETING

Held at Wesley Methodist Church, Christ's Pieces, Cambridge, CB1 1LG

On 19 August 2009 at 6.00 p.m.

Present: Chairman A Hughes (22) P Shipp (20) N Morris (30) M Martin (38) P Creighton (1) J Landy & M Harper (24), J Rutter (27), C Astin, Secretary.

Apologies of absence: Dr Petrie (17), C Dingley (6) M Senior (19), A & J Cohen (26) G Sutherland (14). M Seaman (21) P Gardam (9) Z & W Watkins (32) Dr Jachniak (39) A Hall (3)

The meeting was opened with Mr A Hughes welcoming those present. The items discussed, as set out in the Notice circulated to members were:

1: The Minutes of the Annual General Meeting held on 20 July 2008 were approved (Resolution 1), it being noted that the top of page 3 the person referred to should be Muriel Seaman not Muriel Shipman.

2: The Report of the Chairman and the Directors of the Company for the year ended 31 March 2009 were presented to the meeting. It was noted that service charges amounted to £41492, reflecting the increase from the previous year, and with net expenditure of £49911, a deficit of £8419 had been incurred, which had been covered from reserves. It was noted that the repairs list discussed at the last meeting repairs had been dealt with resulting in the high level of expenses due to external painting undertaken in the spring (£7272), repairs to the roof (£3885) and brickwork repairs (£1600). As required by law, the professional fees of £811 related to the asbestos report. Total reserves amounted to £84416, with cash resources at £81528. After discussion the accounts were proposed (Resolution 2) and approved. 

3: In line with practice at other resident management companies, the proposal to change the basis of checking accounts to Independent Reporting Accountants instead of Auditors was discussed. As the switch was likely to save money, with out affecting the control over the copy it was proposed (Resolution 7) and agreed that the change be made. It was noted that the position of audit could be considered at each AGM.  The proposal to re-appoint Messrs Peters Elsworthy & Moore as independent accountants to the company was then discussed, and it was suggested that given the change in reporting, the work should be put out to tender, with Peters Elsworthy and Moore being asked to participate. After discussion, it was agreed that this option be taken. It was proposed (Resolution 3) and agreed that the Directors fix their remuneration of the accountants.

4: The budget for the year ending 31 March 2010, including plans to paint and re-carpet internal areas in rotation, and the service charge for the year was presented to the meeting. Mr Astin went through the schedule of work planned from the budget, services being maintained at a similar level to last year. In particular it was noted:
  (a)    Cleaning of communal areas, and window cleaning (Quarterly) were dealt with by Crystal Cleaning. However, communal cleaning worked out at 3 ½ hours per week or 30 minutes per block, and it was felt that this was insufficient to maintain the areas to a good standard. It was agreed that this be increased to 4 hours per week
  (b)    Plans had now been formulated for the garden after discussion between JoAnne Rutter and the gardener. It was felt that significant improvements could be made given that the areas had become overgrown. M Harper agreed that she would be willing to participate in a committee to implement the plan of action. N Morris also indicated that he may be able to help. It was agreed that the action should be taken to improve the gardens, albeit that an increase may occur in the cost of gardening.
  (c)    The communal areas had started to become tired. It was therefore planned that 2/3 blocks should be refurbished over the next 3 years. This would involve painting, and new carpets. The budget incorporated the cost of the carpets and the painting.
  (d)    Interest was shown at a significant reduction, being due to the rates available from banks.
  (e)    Sinking fund provision was included to spread the cost of major items over a number of years

The plans would result in total expenditure of £51405, which on the existing service charge of £43560 would give a deficit of £7237. This would again be absorbed from reserves, given that cash resources would still remain high at £77429. After discussion it was proposed that the budget be accepted (Resolution 4) and agreed.

5: In accordance with the Articles of Association, one third of the existing directors retire and offer themselves for re-election, namely:
Mrs JoAnne Rutter (Resolution 5)- approved
Mr Andrew Hughes (Resolution 6)- approved

6: Other business raised and discussed, included:
  (a)    To approve the installation of the fire safety equipment in each block at a cost of £12085, to be funded from reserves, as circulated to all members (Resolution 8)- agreed
  (b)    The possibility of enlarging the entrance hall to each block was discussed. It was noted that such a plan would cost at least £5000. J Landy questioned what added benefit or value would be added from committing such an amount. Concern about larger areas providing more opportunity for bringing bikes into the entrance, which was not permitted under the rules. After discussion, it was agreed that the enlargement of the entrances should not be undertaken.
  (c)    It was noted in recent weeks that 2 ground floor flats had nee broken into, one due to a window being left open. The question of security was raised. C Dingley had questioned the door entry locks. After discussion, it was agreed that new digital locks be installed on all doors and the cycle enclosure. A quote would also be obtained to see how much a security camera would cost along the central walkway
  (d)    It was noted that some lights in communal areas were not functioning correctly. These would be repaired
  (e)    Security for post was discussed. It was suggested that post boxes be fitted to each entrance hall.
  (f)    It was noted a resident member would become a key holder.
  (g)    It was proposed that there would be a cull of bicycles in the bike enclosure. Notices would be fitted to bikes with soft tyres.
  (h)    Mr Arvind Shah outlined the current position on the website, pointing out that there was now a social forum available for use

There being no other business, the meeting closed.

Colin Astin, Company Secretary
Dated: 19 August 2009.
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