Stretton Focus Limited is a company limited by guarantee. This is a standard form of limited company commonly formed by charities, associations and clubs where the primary purpose of the company is not the generation of profit for those who have invested in it. Unlike a company limited by shares it has no shareholders and it does not therefore distribute any part of its profits to as a return on capital invested in it. Instead of shareholders a company limited by guarantee has members who, whilst not required to make any investment in the company do guarantee to pay an amount to the company’s creditors should the company be wound up in circumstances where its assets are insufficient to meet its outstanding debts and liabilities. In the case of Stretton Focus Ltd the maximum amount each member can be called upon to pay in this manner is one pound (£1).
The principal purpose of the company is to publish Stretton Focus magazine and to carry on the business of advertising to support the costs of the publication. Although the company has wider powers to undertake other activities, the overriding purpose of the company is to publish the magazine for the residents of the Strettons (All Stretton, Church Stretton and Little Stretton) to inform them of matters of local interest and concern and to strengthen the sense of community in the area.
A member is entitled to attend the annual general meeting of the company and any extraordinary general meetings that may be called from time to time. At such meetings the member is entitled to speak and vote. The members elect the directors of the company. (The board of directors may appoint a director but then the director must stand for election by the members at the next annual general meeting.) The memorandum and articles of the company, which govern the constitution of the company cannot be altered without the approval of at least 75% of the members.
The obligations of a member are to be bound by the memorandum and articles of the company and the Rules (made pursuant to article 22 of the articles of association) approved by the board of directors from time to time. The principal requirement of the Rules as far as the member is concerned is that the member agrees to attend the annual general meeting, in person or by proxy, or to present apologies for non attendance. A failure to comply with this requirement in respect of two consecutive annual general meetings will result in the automatic termination of membership. The purpose of this requirement is to encourage members to take an active part in the company and to contribute to the development of the magazine so that it is truly the voice of the community.
If you would like to become a member of Stretton Focus Limited or would like any further details regarding membership please send an e-mail registering your interest to email@example.com.