AGM

NOTICE OF 36th 2021 ANNUAL GENERAL MEETING

OF THE DAIMLER JAGUAR & LANCHESTER OWNERS' IN NZ SPARE PARTS CLUB INC

Monday 28th June at 7pm at the Christchurch North Elim Church,
803 Main North Road, Belfast, Christchurch.

 

AGENDA

  1. Apologies
  2. Minutes of the 35th G.M.
  3. Correspondence
  4. Presentation & Adoption of the Management Board Report
  5. Presentation & Adoption of the Accounts & Balance Sheet
  6. Subscriptions
  7. Remits
  8. Election of Officers to Management Board
President:

Vice President:

PETER JENKINS
Secretary:

Treasurer:

GRAHAM FLANAGAN
Committee:HOWARD FIRTH

GREG PERRY

GRANT FORD

  1. Appointment of Hon Solicitor
  2. Life membership
  3. General Business

ANNUAL REPORT Year 2020 -21

Owners in NZ Spare Parts Club inc

Management Board Annual Report for the Year 2020-21

The management committee of the DJLOC have pleasure in presenting our Annual Financial Accounts/Report for the year ending 28 February 2021.

I would personally would like to thank the members of our Management Board/Committee for their support and work everyone has put in over the past year. It takes quite a bit of work to keep the club moving forward and growing as if don't continue to develop the club we will become overtaken by our competitors. We also need to keep in mind the early part of financial year had been challenging due to the Covid Pandemic. Thanks also go to Tony Koller, and Hilary Mawson of Koller & Co who prepare our monthly cash flow statements along with our annual accounts. Thanks also to Michael Bendall our Honorary Solicitor for his advise and guidance over the past year. We also put out a hearty thanks to our Supplier in the UK, The David Manners Group (DMG), who have been our major supplier for over 35 years. Our relation ship with DMG is ongoing and continues to grow.

We also have a number of people/members of the Board, who are resigning/not seeking re-election this year. Firstly Thanks to Tony Nunan, Editor of "The Fluted Grille" who has produced a great magazine that is widely admired over the past 5 years. Tony has handed over the reins of "The Fluted Grille" to Quinton Taylor , whose first Edition is the June-July Edition.

Thanks to Karen Fraser, who is resigning as our Secretary/Treasurer, Karen's contribution to the club has been immense over the past 6-7 years. Karen's departure will leave us with a big gap to fill to. Graham Flanagan has accepted the role of Secretary, leaving us with task of filling the role of Treasurer.

Also not seeking re-election is Brent Maguire who is our current vice president and has been for the past 6 years. Brent has worked away quietly in background, providing support for me as President. Brent thanks for your support it has been appreciated.

The resignation of Karen and Brent leaves us in the difficult position of filling these roles as if we are unable to fill these vacant places on the Board it will make it quite difficult for us to operate, and in the extreme make it difficult for the club to continue to operate. The role of treasurer will be supported by our officer administrator who carries out the daily/ weekly/monthly task of keeping the admin side of the club going. In a major in change from the past we have filled our Office admin role from out side of the club paying a competitive rate to fill this role. If you are or know of any one who could be interested in accepting the role of treasurer please contact my self in the first instance at the club. I envisage that the the role of treasurer will overseeing/reviewing the monthly cash flow, plus ensure that the end of year year accounts are prepared and completed on time. Plus making ensure that we comply with all or any legislation and legal requirements.

For me in my sixth year as President the early part of the year had been quite challenging due to the Covid Pandemic, which saw us close down while the Nation wide lock down was in place. The month of April, (During the lock down) saw our sales drop to $7988, for the month, which was well down for from our average monthly sales of around $20,000 Since then we have seen an increase in new members, membership inquires, with members numbers raising to 680, a level we haven't seen for some time. We have also seen an increase in sales orders and inquiries, which now keep us busy for the majority of the day. Our last two sea freight orders have seen us import a number of wire wheels with an other 12 included in our current order.

The other major issue for us has the importation of stock orders from the UK. Prior to Covid we used to bring our stock orders in by consolidated air freight which wasn't overly expensive, since Covid Air freight costs have, understandably increased. Consolidated was great for us as we could place/finalise our order on a Thursday and with air freight have it our shelves 10 days later, and not have to pay for it until the 20th of the following month. We now import our Stock orders via sea freight which takes around 50 to 60 days to arrive in our warehouse. The other issue is that we will now have to pay for the order prior to it arriving. Timing as they say is everything, if we place our order during the last week of the month DMG will have it packed and ready for dispatch on the first of the month, if the everything goes to plan we should see it by, or around the 20th of the month following dispatch. We are also using DHL courier to bring in some fast moving and urgently required parts for our members, we try to keep this down to once or twice a month. DHL does increase our freight costs, something in a lot of cases we absorb. For example when preparing our last stock order we asked for a freight cost comparison between Air freight and Sea freight for 500kgs, sea freight was approximately $2500, while air freight was approximately $6250.00. When we use sea freight the cost per kg is around NZ$5.00 per kg when using DHL it varies but is around the $14-15 per kg mark.

Financial Summary

You will have read our financial accounts for the EOY 2020-21 , which this year shows small profit of $12, 121.92, being an increase of our previous result. A result that is better than we thought we would achieve due to the Covid pandemic. Sales for the EOY 20-21 show a small increase in sales of $5000.00. While our increase in sales hasn't been huge some of the improvement in our position has been attributed to some efficiencies and in a small way to apply for and receiving the Covid wage subsidy.

We have also increased our purchase's from the UK by around $50,000. Also of note under Ute Restoration this in reality should be Ute maintenance, as the Restoration was completed during the 2018-19 year,

Going forward we will also be faced with increased wages cost due to employing our Office admin person and increases in the minimum wage. In order to off set these increases we will need to ensure that we maintain our margins.

The accounts also show an increase in website expenses these are for increased security costs, which we implemented during the past year something we are grateful we did as we have been exposed to a number of attempts to hack our system which has been shut down by our web security.

Daimler Ute/CyIinder Heads

While the restoration of the Ute has been and truly completed, it continues to receive positive comment. The cylinders that are on it continue to perform well.

The cylinder head project is ongoing with some progress made with the casting of the heads.

Peter Jenkins President.