Agenda and minutes

There were no declarations of interest.

The minutes of the meeting held on 27 July 2023 were confirmed as a correct record.

It was noted that at the last meeting of the Committee, Members had agreed that future meetings would be scheduled to align with the production of the companies’ half-yearly accounts to enable them to be scrutinised and considered prior to their submission to Companies House. Unfortunately, the accounts had not been made available for this meeting and would be circulated at a later date.

Members also expressed their disappointment that a representative from Develop Renew was not in attendance at the meeting.

Janet Scholes, the Director of Property presented the quarterly review of the joint ventures, Concertus Derbyshire Limited (CDL), Vertas Derbyshire Limited (VDL), and Develop Renew.

It had been agreed that 30% of retained earnings were paid as dividend to leave capital in the joint ventures for working capital and investment. The split between VDL and CDL was £0.256m and £01.51m respectively. The dividend combined across CDL and VDL joint ventures was £0.407m which would be divided on a 50/50 basis.

RESOLVED that the Committee:

Notes the presentations on the activities of Concertus Derbyshire Limited and Vertas Derbyshire Limited.

Matthew Self and Tom Marshall, on behalf of Concertus delivered a presentation outlining key aspects of the work that they had been carrying out over the past six months.

Karen Burrowes, on behalf of Vertas delivered a presentation outlining key aspects of the work that they had been carrying out over the past six months.