Update - 23/2/01 

 

19 Walnut Way Hyde Heath

Amersham Bucks HP6 5SB

Tel.01494-776200 Fax.01494-774415

e-mail rchallinor@compuserve.com

23rd February 2001

Dear Fellow Villager

Hyde Heath Post Office and Village Shop

I would like to thank all those who have responded to my earlier letter dated 1st February and returned questionnaires. We have also had helpful support from Parish, District and County Councillors and our local MP. The responses have been very encouraging as to the financial indications of support and also the very many helpful comments and suggestions. All have been considered and many are being followed up.

As promised, the Working Party has endeavoured to find a solution to the difficulties. The bad news is that we have been unable to persuade the owners to change their minds, but the good news is that we have well advanced plans to establish a temporary facility in the centre of the village. We are indebted to the Village Hall Committee for their conditional agreement, to part of its car park being used to house a modestly sized temporary building on a short term basis. The present intention is to sell a basic range of goods such as, Newspapers (especially including deliveries), sweets, tobacco, magazines, and other items of confectionery and soft drinks as well as a limited range of groceries. We are regarding this as Phase 1 of the plans and hope to be open on Monday 2nd April with adequate paid staff.

Phase 2 will involve a modern, extremely well fitted out secure building. An example of the building we have in mind can be seen at Haddenham Station and is known as the Station Shop. It is expected that from such a building we will be able to sell virtually the full range of the goods sold in the present village shop. The site is expected to be central and it will require planning permission. We are working on the application at the moment, but achieving permission could take from 3 to 6 months. Assuming permission is obtained we would then cease to use the Village Hall car park and would dispose of the temporary building.

The position regarding the Post Office is a little unclear at the moment, but we have verbal assurances that Post Office Counters will be providing a limited service for up to 12 months. However, clarification and confirmation of the intentions of Post Office Counters cannot be obtained until next week.

As you can imagine, the above will require finance. The Working Party consider that a sum of up to £5,000 will be required to achieve completion of Phase 1 and to finance planning applications for Phase 2. This figure would include working capital for the business, but this would then be transferred to the Phase 2 element in due course.

The purpose of this letter is to seek your support for our plans. Assuming the response to these proposals is favourable we shall be approaching those who have already responded to the financial element of the questionnaire, towards the middle of March to ask for a contribution of 50% of the amount indicated on their forms.

For those interested in the mechanics of the proposals, I have set out on the attached sheet the details of what is envisaged. If further information is required please contact the undersigned.

Yours sincerely

 

Ray Challinor

Chairman HHSOS Working Party

Please return to 19 Walnut Way; Clevedon, Brays Lane or 33 Westfield as soon as possible

 

I am willing/ unwilling to provide financial support when requested in mid March 2001

 

I agree not to make alternative arrangements for the supply of newspapers

 

Any other comments

 

 

 

 

Name

Address

Tel/Fax/e-mail

 

 

PROPOSED FUNDING OF VILLAGE SHOP

 

Because we are constrained by time we are unable to proceed in an ideal manner. None of us wish to incur personal liabilities and therefore the plan is to form a company with limited liability. This can be achieved in a few days and will cover Phase 1 of the Plans.

Assuming we move forward to Phase 2, the intention would be to seek grants which

we know will be available from various sources. These can be 50% or even more. However, to qualify for such grants we shall have to change our status to that of an ‘IPS’, i.e. an Industrial and Provident Society, with limited liability. Unfortunately it is not practical to use the IPS at the outset as its formation is more complicated and will take longer than the time available to us i.e. by 1st April. It is also about eight times more expensive and therefore we do not want to commit such funds unless and until we are certain that Phase 2 will proceed.

 

We have arranged for a local solicitor to act as the initial recipient of the funds and he

will not pass them over to the new Company unless and until he is satisfied that all formalities have been completed in a satisfactory manner.

4 For those interested in the details we can make available to you cash flow forecasts, and budgeted profit and loss accounts covering Phase 1 and Phase 2 which have been prepared with the assistance of two chartered accountants who have agreed to help.

5 The basis on which funds would be sought would be by way of unsecured, interest free loans to the company. Such loans would rank amongst ordinary unsecured creditors but assuming the business was a success, the company would hope to repay the loans in the fullness of time. However, it would not be safe to assume that there will be any early repayments.

6 Subject to legal advice, the intention of the working party would be for the issued capital to be no more than say £2 and that such capital be split into 2 £1 shares. These would be held by members of the working party as directors but would be held in trust for the benefit of the unsecured loan holders.

 

 

 

PROVISIONAL TIMETABLE

 

 

Early March seek £5,000 to cover

company formation – planning applications – working capital

March Make Planning Application re Phase 2 to Chiltern District Council

March/June Commence applications for grants

Consider formation of IPS

 

June/September Assuming planning consent achieved make arrangements to acquire Phase 2 building

Saturday 1 September Formal opening of Phase 2 building