Financial support from members and others was vital for the opening of the shop on 22 May 2007. New subscriptions are added to the shop's reserves.
The accounts presented at the first ever AGM held on 18 May 2008 show that the shop made a surplus of almost £2,500 on sales of £120,000 in the first seven months of trading to 31 December 2007. Since December turnover has continued to improve with sales now regularly over £5,000 per week. Despite investing in items such as a bigger freezer and more chiller units, the bank balance remains healthy. According to the treasurer, the combined efforts of the volunteers saved staff costs of over £15,000.
Under the constitution, members vote each year onm the use of any surpluses. These can either be re-invested into the shop's future or appplied to other villlage projects. At the AGM in May 2008, members voted to use the surplus for 2007 to further reduce the loan taken out fund some of the start-up costs. The aim is to pay off the loan early before the shop needs to start paying rent in 2010. At present the premises are provided rent-free to the shop by the owner of the freehold. |