SOS Steering Group AGM 17th June 2024
CHAIRMAN’S REPORT
Since the last AGM in May 2023 the SOS Steering Group have established a Community Benefit Society (CBS) the White Swan Inn Community Group to enable it to make a formal purchase offer for the White Swan.
In preparation of the offer, the steering group employed Barry Crux to carry out a professional valuation which was used as the basis of the offer made by the CBS on the 22nd of December 2023. This offer was made within the 6-month moratorium period for a community offer to be made as part of the White Swan’s ACV status. The offer has not been accepted by the owner.
As the offer has not been accepted the CBS has yet to invite members to become shareholders. This means that the AGM attendance is limited to only the board of the White Swan Inn Community Group. The SOS Steering Group which is made of the same group will provide a briefing to the SOS Group on the 27th June.
Following the CBS purchase offer and at the end of the AVC moratorium period, The White Swan has been put on the open market advertised by Carter Jonas estate agents. As a result of our ongoing dialogue with Carter Jonas, we are aware of one offer being accepted with exchange of contracts expected to happen soon. We are not aware of the who the potential buyer is however will look to actively engage with them once able too.
If the purchase is successful, the SOS steering group will align on next steps in terms of what to do with the CBS and any remaining funds in alignment with the wider group.
Public relations and funding:
The SOS Steering group have continued to engage with local media and maintain the www.thorntonleclaycommunitypub.co.uk website.
On establishing the White Swan Inn Community Group a bank account has now been opened where group raised funds are held.
The CBS received a £1000 grant from the local councillor Goodrick which was used to contribute to the payment of Barry Crux for his valuation of the White Swan.
The White Swan Community Group Ltd Accounts 23/8/23 to 31/12/23
Balance c/f 23/8/2023 940.12
add income:
Big Breakfast 1105.59
Steve Cassidy night 402.20
Complaint recompense Coop 25.00
Pipe band donation 57.00
Grant from NYC 1000.00
Total in 2589.79
less expenditure:
Gift- balance 48.50
CBS reg 310.00
Valuation of WS. 1200.00
Total expenditure 1558.50
Balance in bank at 31/12/23 1971.41