The first Annual General Meeting of Hereford FC took place at the Starlite Room at 7pm this evening.
Chairman Jon Hale took the meeting. He was supported on top table by the six other directors of the club.
14 shareholders attended the meeting.
The chairman opened the meeting by welcoming everyone and then moved onto one item which to receive the annual accounts. They were for the period ended May 31 2015 but only covered two months of trading.
Director Hugh Brooks presented the accounts and admitted they were not the most exciting ever presented but had to be made up as it was a statuary requirement.
(For the record they showed a loss of £12,516. This was because some expenditure was made before much income had started to come in. Season ticket sales made by May 31st would be included in the next set of accounts).
The accounts were passed.
Next item was the reappointment of the five 'newly appointed directors'. This was agreed.
Finally in the formal part of the meeting was the reappointment of the auditors, Acre Accountancy Limited. This was passed.
The chairman then offered thanks to everyone who had helped the club come an 'awful long way in a very short time'. It was 'an incredible story'.
He predicted that the second set of accounts which will cover the year to the end of May 2016 will show a surplus. He made the point that the club must be run in a 'sustainable and prudent manner'.
He paid particular praise to Ken Kinnersley for all his unpaid hard work, and to manager Peter Beadle for 'football in the right manner'.
"It's been a fantastic achievement by everybody'.
The chairman then took questions from the floor.
Asked about recent trading, director Hugh Brooks explained that the club was living well within its means.
Another question related to what the directors would like to do next to improve the stadium.
The chairman reminded shareholders that it was important to try and extend the lease before considering further expenditure. The club had already spent about £140,000 on improvements and that figure didn't include some free of charge work. Ideally the club would like to improve the tolilet blocks and the former VP club area.
One shareholder felt that the Starlite Room was not being used as much as it could be.
Director George Webb responded by saying the hospitality at games was a success but he admitted that it was taking time for people to have the confidence to book the room for events after what happened last year.
He also said that as regards the bars the set-up meant that the club made a 'return without liability'.
Mention was made of how much coverage Hereford FC games currently receive. In particular the speed of uploading videos of the goals was praised.
Mention was made of how much coverage Hereford FC games currently receive. In particular the speed of uploading videos of the goals was praised.
The final question was regarding promotion up the Leagues. Were there any special requirements?
Director Martin Watson replied that at present there were not but an additional medical room would be needed at some stage.
The chairman thanked everyone for their attendance and closed the meeting at 7.30pm.