How we're run
Members own and control the society. They elect a Board of directors to run it day to day, and meet once a year at the Annual General Meeting.
Members
Each member holds one £1 share and has one vote. Members elect the Board, receive the accounts, and decide how any surplus is used. Changes to our rules need 75% of the votes cast at a general meeting and must then be registered by the FCA (Rule 114).
The Board
- At least 3 directors, elected by and from the members (Rules 56, 59).
- Directors must be members aged 16 or over and not disqualified (Rules 58, 95).
- At the first AGM all directors stand down. After that, one third retire each year and can stand again (Rule 60).
- The Board may appoint up to two independent directors for their skills; members ratify them at the next general meeting (Rule 61).
- Directors declare any conflicts of interest and don't vote on them (Rule 85).
Annual General Meeting
We hold an AGM within six months of our financial year end on 31 December, so by 30 June each year (Rule 26). Every member receives at least 14 clear days' notice (Rule 29).
At the AGM members:
- receive the accounts and the Board's report
- elect the Board
- appoint an auditor, if one is needed
- decide how any profit is used
The quorum is 3 members or 10% of the membership, whichever is greater (Rule 34). Members who can't attend can appoint a proxy (Rules 37–41).
Key dates
| When | What |
|---|---|
| 20 November 2025 | Society registered with the FCA |
| 31 December 2026 | End of our first financial year (20 Nov 2025 – 31 Dec 2026) |
| By 30 June 2027 | AGM to receive the first year's accounts |
| By 31 July 2027 | Annual return and accounts sent to the FCA |
| Each year after | Year end 31 December · AGM by 30 June · FCA return by 31 July |
Our rules
We use the Co-operatives UK Community Benefit Society model rules, registered with the FCA. You can read them on the Documents page, and every member gets a free copy on joining (Rule 115). Our public record is on the FCA Mutuals Public Register.