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Old 17th June 2017, 22.11:15   #1-0 (permalink)
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Anyone know when the 2016 accounts will be made available to Members? There are several Resolutions relating to financial matters but no information or guidance as to the current (or to 31/12/16) state of the Trust's affairs. Last year's accounts were published only 1 day before the agm which is clearly inadequate for anyone unable to attend and wishing to vote online.I hope that we have more opportunity to study the accounts this time.
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Last edited by wafc1926; 17th June 2017 at 22.12:49..
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Old 18th June 2017, 10.46:04   #2-0 (permalink)
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Default Re: Wst accounts

Quote:
Originally Posted by wafc1926 View Post
Anyone know when the 2016 accounts will be made available to Members? There are several Resolutions relating to financial matters but no information or guidance as to the current (or to 31/12/16) state of the Trust's affairs. Last year's accounts were published only 1 day before the agm which is clearly inadequate for anyone unable to attend and wishing to vote online.I hope that we have more opportunity to study the accounts this time.
I recall that the late production of the accounts was commented on at last years AGM.
I think a promise was made to issue the accounts at least 3 days before the meeting (but I'm not 100% sure)
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Old 18th June 2017, 11.00:35   #3-0 (permalink)
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Originally Posted by Quay Red View Post
I recall that the late production of the accounts was commented on at last years AGM.
I think a promise was made to issue the accounts at least 3 days before the meeting (but I'm not 100% sure)
Thank you.Let's hope your memory hasn't failed you! I feel that the membership should be encouraged to fully participate in the democratic process and that it will help our Fans' Ownership model to succeed. Been away , visiting my son , his wife , and our new grand-daughter in sunny California. Surprised , and somewhat disappointed , to find there has been no discussion on here about the Board candidates or the AGM Resolutions. Apathy rules?
On a personal note , I will be returning to the MRS this season and look forward to seeing you again.
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Old 18th June 2017, 13.31:15   #4-0 (permalink)
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Default Re: Wst accounts

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Originally Posted by wafc1926 View Post
Thank you.Let's hope your memory hasn't failed you! I feel that the membership should be encouraged to fully participate in the democratic process and that it will help our Fans' Ownership model to succeed. Been away , visiting my son , his wife , and our new grand-daughter in sunny California. Surprised , and somewhat disappointed , to find there has been no discussion on here about the Board candidates or the AGM Resolutions. Apathy rules?
On a personal note , I will be returning to the MRS this season and look forward to seeing you again.
Make sure you bring your scarf and a big coat. Its the Cold Road Stand.
Look forward to seeing you.
I'm hoping to do a few more pre match starts in the 1864.
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Old 18th June 2017, 13.48:24   #5-0 (permalink)
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Default Re: Wst accounts

Just an update and correction.
At the 2015 AGM it was resolved that the accounts be published a minimum of TWO days before the meeting.
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Old 18th June 2017, 16.45:15   #6-0 (permalink)
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Default Re: Wst accounts

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Originally Posted by Quay Red View Post
Just an update and correction.
At the 2015 AGM it was resolved that the accounts be published a minimum of TWO days before the meeting.
That is still a long way from an acceptable timeline in my opinion. As wafc1926 correctly points out, we are being asked to vote on financial resolutions with no or little understanding of the Trusts financial position. As the resolutions were released some time ago then having to wait until the last 2 days to pass our votes is not doing anything to encourage engagement in the trust from membership
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Old 18th June 2017, 18.43:51   #7-0 (permalink)
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Default Re: Wst accounts

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Originally Posted by Haruki View Post
That is still a long way from an acceptable timeline in my opinion. As wafc1926 correctly points out, we are being asked to vote on financial resolutions with no or little understanding of the Trusts financial position. As the resolutions were released some time ago then having to wait until the last 2 days to pass our votes is not doing anything to encourage engagement in the trust from membership
Just for reference, these are the financial resolutions Club members are asked to vote on:

Summary: To authorise the use of Trust funds to invest in Wrexham AFC and\or WST Assets Limited

Proposer: The Society Board

“The Society resolves that immediately following the 2017 Annual General Meeting, the Society Board be authorised to invest up to a further £150,000 in Wrexham AFC Limited (a 100% subsidiary of Wrexham Supporters Trust) and\or WST Assets Limited (a 100% subsidiary of Wrexham Supporters Trust), the Board having the power to determine how the investment is distributed between the two companies, during the period following the 2017 AGM up to the 2018 AGM”.

Proposer’s background information:

This is the annual resolution by which members authorise the Trust Board to invest funds in the football club and in WST Assets Limited, as they deem fit during the year up the maximum figure of £150,000.


Resolution B
Summary: To authorise the reappointment of the Society auditors

Proposer: The Society Board

“The Society resolves that McLintocks Partnership Limited are reappointed as statutory auditors of the Society for the 2017 financial year.”

Proposer’s background information:

This is the annual resolution needed to reappoint the Society auditors for another year.

Resolution F
Summary: To convert lease costs into share capital in WST Assets Ltd

Proposer: The Society Board

“The Society resolves that immediately following the 2017 Annual General Meeting, the Society Board be authorised to convert the costs incurred in securing the lease on the Racecourse Ground into share capital in WST Assets Limited"

Proposer’s background information:


WST Assets Limited (a 100% subsidiary of the Trust) was created to hold the lease to the stadium on behalf of the Trust and its members. The Trust paid the costs of entering into the lease on behalf of WST Assets Limited at the time of the transaction as WST Assets Limited had £1 share capital at the time of the transaction. This resolution converts these payments into investments in WST Assets Limited.

The following costs have been incurred to date:

Stamp Duty Land Tax £31,648
Searches £1,106
Indemnity Insurance Policies £2,622
Land Registry Fees £220
Legal Costs £17,100.

The first two resolutions have been proposed since the WST took control of the club, the third has become necessary to propose based on the business needs of the club. Please, if you are a Club Member, vote on these issues.If you are unhappy with the timeline, please put forward a resolution to change it, as the WST is a fully democratic organisation, and relies on its membership actually taking the time to vote on such issues and steer the way they operate.

Engagement is a two way street.The WST put out all information available at the earliest opportunity.This depends on the availability of information to the WST regarding any process. Sometimes that information is dependent on outside agencies, availability of Board members and legal\business sensibilities.But if there is anything that is really essential for Club Members to know, there are direct paths to get that information, if available, via the WST website, or emailing directly: secretary@wst.org.uk, chairman@wst.org.uk or any other serving Board member as per the email addresses at WST Contacts .Or simply talk to us, which is the easy way.

Its a lot easier than trying to picture the WST as some sort of closed society who's elected representatives are somehow apart from the fans. We're not. We are fans. We love the club.
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Old 18th June 2017, 19.00:02   #8-0 (permalink)
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Default Re: Wst accounts

Thanks Brynoffa5
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Old 18th June 2017, 20.01:14   #9-0 (permalink)
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Default Re: Wst accounts

Quote:
Originally Posted by brynoffa5 View Post
Just for reference, these are the financial resolutions Club members are asked to vote on:

Summary: To authorise the use of Trust funds to invest in Wrexham AFC and\or WST Assets Limited

Proposer: The Society Board

“The Society resolves that immediately following the 2017 Annual General Meeting, the Society Board be authorised to invest up to a further £150,000 in Wrexham AFC Limited (a 100% subsidiary of Wrexham Supporters Trust) and\or WST Assets Limited (a 100% subsidiary of Wrexham Supporters Trust), the Board having the power to determine how the investment is distributed between the two companies, during the period following the 2017 AGM up to the 2018 AGM”.

Proposer’s background information:

This is the annual resolution by which members authorise the Trust Board to invest funds in the football club and in WST Assets Limited, as they deem fit during the year up the maximum figure of £150,000.


Resolution B
Summary: To authorise the reappointment of the Society auditors

Proposer: The Society Board

“The Society resolves that McLintocks Partnership Limited are reappointed as statutory auditors of the Society for the 2017 financial year.”

Proposer’s background information:

This is the annual resolution needed to reappoint the Society auditors for another year.

Resolution F
Summary: To convert lease costs into share capital in WST Assets Ltd

Proposer: The Society Board

“The Society resolves that immediately following the 2017 Annual General Meeting, the Society Board be authorised to convert the costs incurred in securing the lease on the Racecourse Ground into share capital in WST Assets Limited"

Proposer’s background information:


WST Assets Limited (a 100% subsidiary of the Trust) was created to hold the lease to the stadium on behalf of the Trust and its members. The Trust paid the costs of entering into the lease on behalf of WST Assets Limited at the time of the transaction as WST Assets Limited had £1 share capital at the time of the transaction. This resolution converts these payments into investments in WST Assets Limited.

The following costs have been incurred to date:

Stamp Duty Land Tax £31,648
Searches £1,106
Indemnity Insurance Policies £2,622
Land Registry Fees £220
Legal Costs £17,100.

The first two resolutions have been proposed since the WST took control of the club, the third has become necessary to propose based on the business needs of the club. Please, if you are a Club Member, vote on these issues.If you are unhappy with the timeline, please put forward a resolution to change it, as the WST is a fully democratic organisation, and relies on its membership actually taking the time to vote on such issues and steer the way they operate.

Engagement is a two way street.The WST put out all information available at the earliest opportunity.This depends on the availability of information to the WST regarding any process. Sometimes that information is dependent on outside agencies, availability of Board members and legal\business sensibilities.But if there is anything that is really essential for Club Members to know, there are direct paths to get that information, if available, via the WST website, or emailing directly: secretary@wst.org.uk, chairman@wst.org.uk or any other serving Board member as per the email addresses at WST Contacts .Or simply talk to us, which is the easy way.

Its a lot easier than trying to picture the WST as some sort of closed society who's elected representatives are somehow apart from the fans. We're not. We are fans. We love the club.
Thank you for the info. You have not , with respect. answered my question as to when the accounts will be made available to members?
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