2018 'No Audit' Resolution in Lieu of Meeting

Thanks to everyone who has helped keep the Harbour Co-op afloat.  After a difficult couple of years things are looking up; we’ve made profits in 5 of the last 6 months and we continue to improve the sustainability of our operations.  

Last year new legislation meant, for the first time, we had the opportunity to avoid the cost of having an audit and the large fees associated with it ($7,761 in the 2016 audit).  

In relation to the financial year ending 31 March 2018, the Harbour Co-op Board is again asking owners to agree to forego the audit process. The financial statements will still be prepared as they usually are, reviewed by the Board, and then shared with owners via the website and at the shop from 31 July 2018.  By way of background we use Total POS and Xero to manage our sales and financial accounts.  With an experienced bookkeeper on staff and an account with over 20 years experience on the board we are well placed to be able to properly maintain accurate financial accounts.

The resolution we would like you to support is as follows:

In accordance with the provisions of 207I of the Companies Act, I am in favour of the Harbour Co-Op not having it’s financial statements for the year 1 April 2017 to 31 March 2018 audited.

If you are a member and are happy to support this resolution please email us stating:

I am in favour of the Harbour Co-Op not having it’s financial statements for the year 1 April 2017 to 31 March 2018 audited.

Please include your name and (if you have it) your number.  

If you are unsure about supporting the resolution or are thinking about opposing it please contact our Chair Andrew Scott by email, or phone (0221610893).

Sustainably yours

The Harbour Co-op Team