UTCE Ltd

CHANGES TO UTCE’s GOVERNING RULES

 As part of the preparation required for the second share launch, we have updated the model rules (provided by the Plunkett Foundation) which govern the society and how it operates. The new rules were adopted at an Extraordinary Members Meeting on 23 February 2023. The rules and minutes can be seen here (the new rules have now been approved by the Financial conduct Authority).

UTCE Plunkett Rules V6 FCA Approval 5-Apr-23

UTCE Ltd – Minutes of Extraordinary Members Meeting – 23-Feb-23 

UTCE Board Members all abide by the Code of Conduct set out here:

UTCE Ltd – Code of Conduct – 28-Feb-23

The previous rules can be seen here

Plunkett Rules Version 4

UTCE Change to FYE Date records a change in our financial year end date.

THE SECOND SHARE OFFER IS NOW CLOSED

The issue raised over £32,000 from more than 150 applicants, many of them existing shareholders.


DEADLINE FOR APPLICATIONS FRIDAY 9TH JUNE 2023

Many readers will be aware that we have been working for some time to expand the village shop into the garden space behind the shop. This is a complex project that includes a second share issue, supported by Community Shares Scotland. The share issue is an important first step in a fund-raising campaign that will allow us to begin work on the extension later in 2023. We are already well on the way to altering the cottage annexed to the Village Hall, so that this space can serve as a temporary shop during the main building project.

LAUNCH EVENT

Members of the public and shareholders in UTCE Ltd will have an opportunity to inspect these building works at the launch of UTCE’s 2nd Share Issue on Thursday 23rd March at 7pm in the Small Village Hall and Cottage. Refreshments will be provided. The initial share issue in 2019 raised some £66,000 from 255 shareholders. This 2nd share issue will raise further capital but also has a secondary objective, which is to demonstrate to our funders that the shop has the full support of the community. For that reason, we will be encouraging as many individual investors as possible: even if you buy only one share at £25, it will make a difference. Of course, we won’t be discouraging to those who want to invest a lot more…

YOU CAN BUY SHARES NOW

You don’t have to wait until Thursday. The share offer booklet is available to pick up now from Broughton Village Store — please read this carefully before filling in the application form which is on the last page of the booklet and also available as a separate sheet of paper. Forms and cheques (or cash) can be handed in at the counter in the shop. We cannot accept card payments, sorry. You can also do the whole process, or part of it, online. Download the booklet and application form using the links below and after filling out the form return it by email to the address provided (shares@broughtonvillagestore.co.uk). Depending on your software you may be able to fill the form on screen, or if not you can print it and send a photograph. Payment can be made by BACS to the account specified on the form — please make sure you include a reference (preferably your name) so we know who the money has come from.

Broughton share booklet for website

Broughton share application form for website

The booklet refers to our Business Plan which provides much more financial information:

BroughtonShopBusinessplan2.4

The second share issue will close at the end of May 2023 – EXTENDED TO 9TH JUNE 2023

 

History and UTCE documents (for minutes of meetings scroll down) on this page

When the shop in Broughton closed on 15th March 2018 a group of locals got together, at the invitation of the Upper Tweed Community Council, to try and find a way of re-opening the shop as soon as possible. The Broughton Shop Development Group (BSDG) was formed soon after. Click here to download the BSDG Constitution

BSDG was a simple voluntary organisation which enabled the group to raise some initial funding and take on a consultant to help find the best way forward. We made the decision to try and buy the existing premises with help from the Scottish Land Fund, and to raise further funds with a Community Share Offer.

These strategies required the transfer of BSDG to a new organisation known as a Community Benefit Society, which is registered with the Financial Conduct Authority (using rules devised by the Plunkett Foundation). Accordingly Upper Tweed Community Enterprise Ltd (UTCE) was registered on 21st December 2018 with the number 7979. UTCE is authorised to issue Community Shares with the help and expertise of Community Shares Scotland

In due course the BSDG committee became the board of UTCE. There are potentially six vacant positions on the board. Please come forward if you wish to help. The current  UTCE Ltd  board members are:

Simon Edwards (Secretary and Membership Secretary)
Christopher Lambton (Chair)
Jennifer McBeth (shop manager)
Donald Stewart (Treasurer)
Camilla Younger
Bill Sheridan

(updated after 2nd AMM)

UTCE can be contacted through the contact page

The original Broughton Shop Development Group has a register of about 250 members, who filled in the BSDG – Membership Application Form. This form is no longer in use. Original members of BSDG automatically became “supporters” of UTCE. In the future, those wishing to support the shop but without buying shares will also become “supporters” of UTCE. This will effectively become a mailing list for the shop so that the management can keep everyone informed of opening hours, offers, and events.

Upper Tweed Community Enterprise Ltd (UTCE) is a Community Benefit Society whose members are its shareholders. Each shareholder member has one vote, irrespective of holding. There are currently over 250 shareholders holding share capital of around £66,000.

The first share offer has now officially closed and all share certificates have been issued. We are now working on our second share issue, see the home page http://broughtonvillagestore.co.uk/

DOCUMENTS BELOW RELATE TO THE FIRST SHARE OFFER IN 2019

To read the 2019 business plan for Broughton Village Store click here

To read the shorter executive summary of the 2019 business plan click here

Click on this link to read the (first share issue)  Broughton Village Store Share Offer Document

BELOW YOU WILL FIND MINUTES OF MONTHLY MEETINGS OF THE SHOP MANAGEMENT COMMITTEE, SUBSEQUENTLY KNOWN AS THE BOARD

UTCE – Minutes of Meeting – 16-Jul-19

UTCE – Minutes of Meeting – 15-Aug-19

UTCE – Minutes of Meeting – 18-Sep-19

UTCE – Minutes of Meeting – 23-Oct-19

UTCE – Minutes of Meeting – 20-Nov-19

UTCE – Minutes of Meeting – 22-Jan-20

UTCE – Minutes of Meeting – 19-Feb-20

UTCE – Minutes of Meeting – 11-Mar-20

UTCE – Minutes of Meeting – 17-June -20

UTCE – Minutes of Meeting – 15-Jul-20

UTCE – Minutes of Meeting – 12-Aug-20

UTCE – Minutes of Meeting – 23-Sep-20

UTCE – Minutes of Meeting – 21-Oct-20

UTCE – Minutes of Meeting – 18-Nov-20

UTCE – Minutes of Meeting – 16-Dec-20

UTCE – Minutes of Meeting – 20-Jan-21

UTCE – Minutes of Meeting – 17-Feb-21

UTCE – Minutes of Meeting – 17-Mar-21

UTCE – Minutes of Meeting – 21-Apr-21

UTCE – Minutes of Meeting – 19-May-21

UTCE – Minutes of Meeting – 16-Jun-21

UTCE – Minutes of Meeting – 21-Jul-21

UTCE – Minutes of Meeting – 18-Aug-21

UTCE – Minutes of Meeting – 22-Sep-21

UTCE – Minutes of Meeting – 20-Oct-21

UTCE – Minutes of Meeting – 17-Nov-21

UTCE – Minutes of Meeting – 15-Dec-21

UTCE – Minutes of Meeting – 19-Jan-22

UTCE – Minutes of Meeting – 17-Feb-22

UTCE – Minutes of Meeting – 23-Mar-22

UTCE – Minutes of Meeting – 20-Apr-22

UTCE – Minutes of Meeting – 25-May-2022

UTCE Ltd – Minutes of Meeting – 22-Jun-22

UTCE Ltd – Minutes of Meeting – 27-Jul-22

UTCE Ltd – Minutes of Meeting – 16-Aug-22

UTCE Ltd – Minutes of Meeting – 14-Sep-22

UTCE Ltd – Minutes of Meeting – 19-Oct-22

UTCE Ltd – Minutes of Meeting – 14-Nov-22

UTCE Ltd – Minutes of Meeting – 14-Dec-22

UTCE Ltd – Minutes of Meeting – 18-Jan-23

UTCE Ltd Minutes of Meeting – 22-Feb-23

UTCE Ltd – Minutes of Meeting – 15-Mar-23

UTCE Ltd – Minutes of Meeting – 19-Apr-23

UTCE Ltd – Minutes of Meeting – 17-May-23

UTCE Ltd – Minutes of Meeting – 28-Jun-23

UTCE Ltd – Minutes of Meeting – 17-Jul-23

UTCE Ltd – Minutes of Meeting – 16-Aug-23

AMM (Annual Members Meetings)

The first Annual Members Meeting of UTCE Ltd was held by Zoom on Tuesday 18th August 2020 at 7pm. Over 20 members (shareholders) attended remotely, and a further 37 had previously asked the Chairman to vote as their proxy. The meeting was thus comfortably quorate under the Financial Conduct Authority rules governing the Community Benefit Society. There were six resolutions, all passed unanimously. These concerned receiving and adopting the Chair’s report, the Treasurer’s report, and the accounts to the year end 31 December 2019. It was decided not to appoint an auditor. Further resolutions re-elected most of the current management committee, with two resignations and one new election. The agenda, reports, accounts, and minutes of the meeting can all be seen below

text of AMM email includes agenda

accounts to 31 December 2019

chair’s report and treasurer’s report for 1st AMM

First AMM 2020 minutes

The second Annual Members Meeting of UTCE Ltd was held by Zoom on Tuesday 31st August 2021 at 7pm.

Over 15 members (shareholders) attended remotely, and a further 35 had previously asked the Chairman to vote as their proxy. The meeting was thus quorate under the Financial Conduct Authority rules governing the Community Benefit Society. There were eight resolutions, all passed unanimously. These concerned receiving and adopting the Chair’s report, the Treasurer’s report, and the accounts to the year end 31 March 2021. It was decided not to appoint an auditor. Further resolutions re-elected most of the current management committee, with one resignation and two new elections. The agenda, reports, and accounts can all be seen below

word version of AMM2 email     (this includes agenda and resolutions)

accounts to 31 March 2021

chair’s report and treasurer’s report for 2nd AMM updated 25 Aug 21

UTCE Ltd – Minutes of Second Annual Members Meeting – 2021

The third Annual Members Meeting of UTCE Ltd was held in person in Broughton Village Hall on Thursday 15th September 2022 at 7pm.

Over 30 members (shareholders) and general public attended in person, and a further 33 had previously asked the Chairman to vote as their proxy. The meeting was thus quorate under the Financial Conduct Authority rules governing the Community Benefit Society. There were five resolutions, all passed unanimously. These concerned receiving and adopting the Chair’s report, the Treasurer’s report, and the accounts to the year end 31 March 2022. It was decided not to appoint an auditor. Further resolutions re-elected the current Board en bloc. The agenda, reports, and accounts can all be seen below. The AMM was followed by a Public Meeting at which plans for the expansion of the shop were discussed.

text of AMM3 email invitation

chair’s report and treasurer’s report for 3rd AMM

UTCE signed accounts 1 April 2021 – 31 March 2022

Members are entitled to withdraw shares after they have been held for thee years. Please email shares@broughtonvillagestore.co.uk for an application form.

FOURTH ANNUAL MEMBERS MEETING

The fourth Annual Members Meeting of Upper Tweed Community Enterprise Ltd was held in Broughton Village (small) Hall on Thursday 14th September at 7pm.

text of email to shareholders September 2023  (this includes the agenda and resolutions)

UTCE Ltd – Minutes of Annual Members Meeting – 15-Sep-22

chairman’s report for 4th AMM

Signed Accounts YE 31032023

22-23 Treasurers Report.