AGM Minutes 2025 (Pending Ratification)

ANNUAL GENERAL MEETING 16th MAY 2025 at 10.05am

Attendance:  In excess of 100 participants, including 5 Directors and 4 members of staff.

Directors at the AGM

Paul Cunningham (Chair), Charlie Baker (Secretary), Peter Bussey (Treasurer), Phil Walters (Vice Chair), Trevor Southgate

Apologies for absence

None

Acceptance of minutes of AGM held 2024:

Ralph Palmer asked if the issues with an ex-member of staff had been concluded. PC replied that there was no financial compensation paid and has been concluded.

Chairman’s Report:

Paul Cunningham opened the meeting in his capacity as Chairman. The staff and Directors were introduced. Mixed messages from Government – there is an impression that landlords are not supported as they should be but there has been a request for landlords to help house asylum seekers. Letting industry is busy with more tenants seeking accommodation and less properties in the PRS available. Not all doom and gloom and is still a good time to invest, good bargains to be had for buy-to-lets and no shortage of tenants. Good landlords should have nothing to fear from the Renters’ Rights Bill and what it means is that choosing the right tenant is paramount and will have an impact on those looking to rent. Rents are likely to increase due to a shortage of properties. Vital for landlords to be a member of an association, this association, ELA with someone to turn to when things go wrong. Cost of subscription to ELA hasn’t change in many years. ELA website has been worked on and will continue to improve. We are engaging with Local Authorities, have a B&Q trade account with discounts for members, creation of a WhatsApp group, weekly blog on our website. We have rebranded. We have increased the number of free legal surgeries with Fosters. Membership numbers are increasing and we have monthly Board meetings.

Charles Clarke asked if workshops (legal and taxation) could be held for members as have been in the past. This can be organised.

Financial Statements year end 31 December 2024:

Peter Bussey (Treasurer) introduced himself to the meeting, advising that finances are moving in the right direction, a copy of the balance sheet being available to delegates. The income has reduced and membership income has reduced but the overall trend is improving. Expenses have slightly increased in line with previous years. Profit made of about £6,000 before tax.

A question was asked about insurance commission and PB explained that the contract with Coversure is coming to an end and they have been taken over by Jensten, contract to be renewed with negotiations under way.

The accounts were unanimously accepted.

Appointment of accountants for the year ending 31st December 2025:

An item of the agenda related to accountants, Lovewell Blake have been involved in the 2024 accounts and are recommended to carry on with the 2025 accounts. All agreed.

Appointment of Directors:

Votes from members to accept nominations – members advised that these votes are to be conducted separately:

New appointment – Director – James Crickmore – accepted unanimously

Trevor Southgate & Charlie Baker were unanimously voted on to continue as Directors.

Ratification of amended Articles of Association :

Accepted unanimously, none against.

Any other business relevant to AGM:

None

Close of AGM:

Paul Cunningham closed the AGM at 10.25am