Brighton Energy Coop trades under the name Brighton Energy Ltd (BE).
BE’s first accounts will be for the period 10 November 2010 to 31 March 2012. It is anticipated that the financial position of BE at 1 July 2012 will be:
| Fixed Assets | £160k |
| Other Assets (including bank) | £2k |
| Loans | £4k |
| Net Assets | £158k |
| Share Capital | £180k |
| Accumulated Losses | £22k |
| Shareholders’ Funds | £158k |
The Accumulated Losses are composed of the start up costs of BE and a fund for future projects. Losses to date have been funded by Pioneer Investors, Loans and those providing services in return for shares.
BE will use surpluses generated during the 12 month periods ending 1 July 2013 and 1 July 2014 to re-pay loans accumulated during the start up period.
The pioneer investors have waived rights to withdraw £12k of their equity and the associated dividends on those shares until such a point that BE has paid the expected return of 4% to other shareholders. At which point a return to the £12k of pioneer investors will be paid up to a maximum as the same percentage paid to other shareholders.
BE will then be in a position to pay a return to members of an expected 4% for the year ending 1 July 2015. BE expects the return to members will increase in subsequent years due to inflation.
Directors Interests
The Directors will expect to have received the following for the 2-year period end 1 July 2012:
| Name | Cash | Shares |
| Will Cottrell | £5,295 | £400 |
| Danni Craker (retired) | £7,798 | £400 |
| Damian Tow | £7,491 | £400 |
| Ross Gilbert | £0.00 | £0.00 |
