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by richard@imutual
Mon Nov 11, 2013 12:17 pm
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2013 accounts and notice of AGM

Notice is hereby given that the Annual General Meeting of imutual PLC will be held on 2nd December 2013 8pm at 247.tv, The Firs, Barston Lane, Barston, Solihull, West Midlands, B92 0JP The business to be conducted at the meeting will be to review the audited accounts for the year to 30 June 2013 and...
by richard@imutual
Mon Nov 11, 2013 1:19 pm
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Re: 2013 accounts and notice of AGM

Good question. We barely spent anything on advertising. The only item we classed as advertising was the AGM webcast (a few hundred pounds) Overheads increased by about £28000, of which £15000 was Directors salaries. In the first 3 years, the pre-tax salary of each of the 2 directors has been £0, £75...
by expressman33
Mon Nov 11, 2013 12:55 pm
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Re: 2013 accounts and notice of AGM

How much of the 75% increase in overheads was due to the Advertising expenditure ?
by Squire
Mon Nov 11, 2013 1:54 pm
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Re: 2013 accounts and notice of AGM

Yes, no problems from me about the figures.

I appreciate all the work you and your fellow director are doing in order to run imutual so well and work on expanding it, it must be tiring at times.
by kevinchess1
Mon Nov 11, 2013 2:05 pm
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Re: 2013 accounts and notice of AGM

Q+tcb employ a lot more staff than us
Are there any plans to employ more staff in the next year?
by richard@imutual
Mon Nov 11, 2013 2:14 pm
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Re: 2013 accounts and notice of AGM

We may or may not add an extra staff member between now and next June - depends on available funds. We'll certainly spend a bit more than last year on web development (we use a freelancer at present). But I can't ever envisage needing 50+ staff :eek:
by maximusbeer
Mon Nov 11, 2013 4:52 pm
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Re: 2013 accounts and notice of AGM

Nice clear and concise figures, running a tight ship will clearly benefit us all!
by roger
Mon Nov 11, 2013 5:00 pm
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Re: 2013 accounts and notice of AGM

I don't see anything obviously controversial in the accounts or the resolutions to be put to the AGM. I'm not myself convinced that the comparisons with Quidco and TCB are particularly meaningful (and, while I'm not a lawyer, I think we need to be careful what we say about being better than the oppo...
by Richard Frost
Mon Nov 11, 2013 5:24 pm
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Re: 2013 accounts and notice of AGM

If and when iMutual reaches comparable size, it too will have to make strategic decisions as to what proportion of its earnings goes in the form of improved cashback and what proportion goes to shareholders and, frankly, if 100% were to be allocated to improved cashback then there would be a lot of...
by richard@imutual
Mon Nov 11, 2013 5:46 pm
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Re: 2013 accounts and notice of AGM

You could use this thread . I accept that, as we grow to such a size that a buyout becomes a distinct possibility, we may need to adjust our behaviour accordingly. However, paying out what would likely be a very modest dividend to 1m+ shareholders would incur a significant administrative burden. If ...