New ‘Baker Direct’ website has been launched
So come on Bakers, register now for free
Customers have to simply pop in your postcode to find you and then over to you to capture and deliver the order.
Baker Direct is supported by bakery trade groups.
Delivery services are springing up in Ireland & the UK.
BAKO WESTERN LIMITED CHAIRWOMAN’S REPORT
FOR THE FINANCIAL YEAR ENDED 29TH FEBRUARY, 2020
BAKO has had a successful year amid continuing challenging times and uncertainty. We are finally coming out of the EU, this may well bring new challenges but BAKO is well placed to strongly ride these as we leave the EU.
The company continues to be in a strong financial position with net balance sheet assets of £8.4m at our year end, 29th February 2020. Compared with £8.3m in 2019, this reflects members rebates paid during the financial year. Net current assets remain unchanged at £4.6m.
Our auditors, Thompson Jenner, were again more than satisfied this year when carrying out the financial annual audit with the professionalism and competency of our management team.
BAKO continues to put our customers at the forefront of our operation, we have seen the introduction of our warehouse management system which went live in December 2019. Despite a few initial teething problems in the first few months it now runs smoothly giving us the benefit in visibility of stock rotation which proved to be invaluable when volumes changed during the COVID lockdown. We continue to review the system parameters and seek further improvements to deliver higher levels of accuracy for the benefit of our members.
During the year our finance manager left BAKO for a new opportunity. We were pleased to be able to promote internally from within the finance team which is a credit to the training carried out by the departing manager. Our credit control team continue to do an excellent job in difficult times.
We are proud to remain a customer owned organisation with many long term members of the society.
The management team continues to review our freezer capacity as it is continually stretched. Many of our members now choose to use a number of finished/bake off goods.
Board meetings are held regularly to review operational performance and set the strategic direction for the future.
Customer service and our sales team continue to provide an excellent service to our members constantly looking at ways to improve our customer ordering experience. The number of members using our web shop continues to grow and customer service are happy to help any members wishing to give it a go.
This year due to COVID and government restrictions we were unable to hold our normal AGM in June, where members are invited to attend and submit any matters for consideration to the management and board. We have asked members this year to write in with any matters they wish to be considered at our October AGM. We look forward to a more normal AGM in June 2021.
Corona virus has had an impact on the business after the year end with lockdown and the ongoing effects of the pandemic. While there has been a reduction in volume and turnover the business remains financially strong and well positioned for the long term future.
I would like to conclude by thanking all of our BAKO team and management and my fellow directors.
Karen Milner, Chair Woman