DOCSLIB.ORG

Annual Report and Accounts 2010 Are Audit Committee, Nominations Committee, Remuneration Also Available on Request in Branches Or by Post

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report and Accounts 2010 Are Audit Committee, Nominations Committee, Remuneration Also Available on Request in Branches Or by Post Skipton Building Society Annual Report & Accounts skipton.co.uk Contents Five Year Summary 4 Chairman’s Statement 6 Group Chief Executive’s Report 8 The Board of Directors 12 Business Review 14 Directors’ Report 30 Directors’ Report on Corporate Governance 34 Directors’ Remuneration Report 39 Independent Auditor’s Report 43 Income Statements 44 Statements of Comprehensive Income 45 Statements of Financial Position 46 Statements of Changes in Members’ Interests 47 Statements of Cash Flows 49 Notes to the Accounts 51 Annual Business Statement 117 Glossary 122 2 Skipton Building Society • Group profit before tax from continuing operations up 94% to £35.0m (2009: £18.0m) • Core Tier One capital ratio up 18% to 11.1% (2009: 9.4%) • Solvency ratio up 14% to 16.6% (2009: 14.5%) • Group retail funding as a percentage of total funding 82% (2009: 79%) • Improved quality of liquid assets – Core liquidity buffer eligible assets as a percentage of total liquid assets 56% (2009: 37%) …Skipton Building Society further improved its financial strength during 2010 by both substantially increasing the Group’s trading profits and improving its Core Tier One capital ratio. D J Cutter Group Chief Executive Annual Report & Accounts 2010 3 Five Year Summary Total pre-tax profit for the year (£m) Total assets (£m) 163.9 145.3 15,569 13,647 13,740 12,531 10,596 63.5(1) 22.5 35.0 06 07 08 09 10 06 07 08 09 10 The Group’s capital resources profile 2006 2007 2008 2009 2010 Core Tier 1 ratio (%) 8.64 8.67 8.6 1 9.37 11.06 Total capital ratio (%) 12.88 12.30 12.28 14.48 16.60 Tier 1 ratio (%) 9. 1 4 9.09 9.03 10.77 12.64 Tier 1 capital (before deductions(2)) (£m) 647 771 780 873 910 Tier 1 capital (after deductions) (£m) 463 541 537 69 1 719 Gross capital (£m) 813 935 918 1,063 1,120 Free capital (£m) 557 631 606 8 1 1 854 Notes 1. Includes profits of £45.5m from discontinued operations. 2. Intangible assets. 4 Skipton Building Society Group Income Statements 2006 2007 2008 2009 2010 £m £m £m £m £m Net interest receivable 98.8 110.7 87.5 53.3 54.9 Other income 415.8 433. 1 351.7 386.5 387.0 Share of profits from joint ventures and associates 1.0 3.7 3.9 0.2 0.3 Profit on disposals of subsidiary undertakings 15.7 36.0 31.4 - 1.2 and associates Total income 531.3 583.5 474.5 440.0 443.4 Administrative expenses (376.8) (416.2) (389.7) (383.7) (395.5) Negative goodwill arising on merger - - - - 3. 1 Impairment losses on loans and advances (5.6) (5.4) (34.6) (43.6) (14.8) Impairment (losses) / recoveries on debt securities - - (11.5) 1.3 (0. 1) Provisions for liabilities (1.6) (0.8) (20.8) 4.0 (1.1) Profit before tax from continuing operations 147.3 161. 1 17.9 18.0 35.0 Tax (expense) / income (32.6) (36.3) 2.8 (4.3) (9.8) Profit from continuing operations 114.7 124.8 20.7 13.7 25.2 Operating profit / (loss) from discontinued (1.6) 1.8 3. 1 4.2 - operation (net of tax) Profit on disposal of discontinued operation - - - 39.7 - Profit for the financial year 113. 1 126.6 23.8 57.6 25.2 Attributable to: Members of Skipton Building Society 111.7 125.5 22.8 57.4 25.5 Non-controlling interests 1.4 1. 1 1.0 0.2 (0.3) 113. 1 126.6 23.8 57.6 25.2 As at 31 December Total assets 10,596 12,531 13,647 15,569 13,740 2009 2010 £m £m Profit before tax from continuing operations 18.0 35.0 Profit before tax from discontinued operations 5.8 - Profit on sale of discontinued operations 39.7 - Group profit before tax 63.5 35.0 Annual Report & Accounts 2010 5 Chairman’s Statement The past year has been characterised by continued external challenges such as fiscal tightening measures initiated by the Government – the full impact of which 2011 will see remains, as yet, unclear – and the Europe wide ripple effects of the implementation of sovereign debt rescue Skipton continuing to packages. These measures, coupled with the effects of growing unemployment; regulatory changes which threaten further to restrict access to mortgage finance; pursue a strategy of and the imminent withdrawal of support measures such as government funding for financial institutions, mean controlled growth with that caution will remain key to our effective management of the business for the foreseeable future. members’ interests I am pleased to say that the prudence we have exercised throughout the global financial crisis and the recession firmly at its core. which followed – coupled with our willingness to make necessary and pragmatic decisions such as increasing There is little doubt that further potential threats to the Society’s mortgage Standard Variable Rate (‘SVR’) economic recovery, and thus to the Group’s businesses, and restructuring to manage cost effectively – have remain on the horizon for 2011. These include continued contributed to our latest reported performance. All of uncertainty about the pace and extent of economic this is, of course, further underpinned by our diversified recovery; the risks associated with increasing inflation; the Group, which brings additional income and opportunity to expected impact of rising unemployment which will affect the Society through the economic cycle. the Society’s mortgage arrears levels; a housing market and house prices which seem set to remain flat at best We have improved our performance over the past 12 for the next 12 months and the probability that historically months, as shown by increased underlying profits and a low interest rates will remain for some considerable time. stronger capital base. Our funding has remained robust These continue to put pressure on our earnings and thus and we have responded to the regulatory requirements to our ability to generate the capital required to support our hold higher quality liquidity. Risks faced by the business growth. We will continue to work with others in the sector continue to be closely managed including the potential to develop a form of external capital which is consistent for increased arrears resulting from the pressures the with mutual ownership, attractive to the market and current economic climate is placing on individuals. accepted by the regulator. 6 Skipton Building Society Our members can, however, rest assured that we remain up elsewhere. I would like to thank them both sincerely vigilant and well-placed to withstand such issues, and for their contributions to the Group during their time 2011 will see Skipton continuing to pursue a strategy of with Skipton. Our former Group Finance Director, Tom controlled growth with members’ interests firmly at its Wood, also left the Society in September to develop his core. We will remain true to our mutual ethos by offering career elsewhere and I was pleased that we were able what our members tell us they require; straightforward, to reappoint Richard Twigg to this role, which he had dependable, good value savings accounts and previously held for seven years. competitive and innovative mortgage products for I must also give credit to the achievement of our skilled people feeling the detrimental effects of current market team of senior managers. Through their delivery of conditions on both the returns on their savings and the consistently solid results, our members, counterparties amount of equity in their homes. We will also offer a and other stakeholders can have confidence that the variety of options which cater effectively for the full range Society has the management capability and experience of our members’ needs, through attractive products and needed to ensure our ongoing success as the current services ranging from independent financial advice to will economic recovery hopefully consolidates. writing and funeral planning. Of course, such resilience would not have been possible without the efforts of all our people in all our businesses and, on behalf of the Board, I recognise the contribution of our staff who have demonstrated energy, determination and commitment in order to deliver positive business and service performance for the benefit of Skipton’s members. While challenging economic conditions remain, we are confident that, supported by a strategic business transformation programme – we, both members and those who work in our businesses, can all look forward to remaining part of an organisation of which they can be truly proud. A I Findlay Chairman 22 February 2011 We continue to maintain our commitment to the communities in which our members live and work, through our established partnerships, branch-based giving to local communities through our Community Contribution Award Scheme and the Skipton Building Society Charitable Foundation. I was appointed chairman in the spring, succeeding John Rawlings on his retirement. I must take this opportunity to thank John for his contribution to Skipton over 14 years of service – five as Chairman – during which time he played an integral part in ensuring the Society’s continued success despite latterly experiencing one of the most difficult economic environments in a generation. During the year we also said goodbye with regret to two Non-Executive Directors, John Spence and Paula Hay- Plumb, who resigned from the Board due to potential conflicts of interest posed by new roles they have taken Annual Report & Accounts 2010 7 Group Chief Executive’s Report Overview We have also taken steps to re-focus on core business and related activities, reaffirming our members’ status at I am pleased to report that Skipton Building Society the heart of everything we do, which resulted in – among further improved its financial strength during 2010 by both other things – the sale of our subsidiary mortgage substantially increasing the Group’s trading profits and distribution business Pink Home Loans for a profit of improving its Core Tier One capital ratio to 11.1%.
Load more

Recommended publications
  • Lender Panel List December 2019
    Threemo - Available Lender Panels (16/12/2019) Accord (YBS) Amber Homeloans (Skipton) Atom Bank of Ireland (Bristol & West) Bank of Scotland (Lloyds) Barclays Barnsley Building Society (YBS) Bath Building Society Beverley Building Society Birmingham Midshires (Lloyds Banking Group) Bristol & West (Bank of Ireland) Britannia (Co-op) Buckinghamshire Building Society Capital Home Loans Catholic Building Society (Chelsea) (YBS) Chelsea Building Society (YBS) Cheltenham and Gloucester Building Society (Lloyds) Chesham Building Society (Skipton) Cheshire Building Society (Nationwide) Clydesdale Bank part of Yorkshire Bank Co-operative Bank Derbyshire BS (Nationwide) Dunfermline Building Society (Nationwide) Earl Shilton Building Society Ecology Building Society First Direct (HSBC) First Trust Bank (Allied Irish Banks) Furness Building Society Giraffe (Bristol & West then Bank of Ireland UK ) Halifax (Lloyds) Handelsbanken Hanley Building Society Harpenden Building Society Holmesdale Building Society (Skipton) HSBC ING Direct (Barclays) Intelligent Finance (Lloyds) Ipswich Building Society Lambeth Building Society (Portman then Nationwide) Lloyds Bank Loughborough BS Manchester Building Society Mansfield Building Society Mars Capital Masthaven Bank Monmouthshire Building Society Mortgage Works (Nationwide BS) Nationwide Building Society NatWest Newbury Building Society Newcastle Building Society Norwich and Peterborough Building Society (YBS) Optimum Credit Ltd Penrith Building Society Platform (Co-op) Post Office (Bank of Ireland UK Ltd) Principality
    [Show full text]
  • Reflections on Northern Rock: the Bank Run That Heralded the Global
    Journal of Economic Perspectives—Volume 23, Number 1—Winter 2009—Pages 101–119 Reflections on Northern Rock: The Bank Run that Heralded the Global Financial Crisis Hyun Song Shin n September 2007, television viewers and newspaper readers around the world saw pictures of what looked like an old-fashioned bank run—that is, I depositors waiting in line outside the branch offices of a United Kingdom bank called Northern Rock to withdraw their money. The previous U.K. bank run before Northern Rock was in 1866 at Overend Gurney, a London bank that overreached itself in the railway and docks boom of the 1860s. Bank runs were not uncommon in the United States up through the 1930s, but they have been rare since the start of deposit insurance backed by the Federal Deposit Insurance Corporation. In contrast, deposit insurance in the United Kingdom was a partial affair, funded by the banking industry itself and insuring only a part of the deposits—at the time of the run, U.K. bank deposits were fully insured only up to 2,000 pounds, and then only 90 percent of the deposits up to an upper limit of 35,000 pounds. When faced with a run, the incentive to withdraw one’s deposits from a U.K. bank was therefore very strong. For economists, the run on Northern Rock at first seemed to offer a rare opportunity to study at close quarters all the elements involved in their theoretical models of bank runs: the futility of public statements of reassurance, the mutually reinforcing anxiety of depositors, as well as the power of the media in galvanizing and channeling that anxiety through the power of television images.
    [Show full text]
  • Reference Banks / Finance Address
    Reference Banks / Finance Address B/F2 Abbey National Plc Abbey House Baker Street LONDON NW1 6XL B/F262 Abbey National Plc Abbey House Baker Street LONDON NW1 6XL B/F57 Abbey National Treasury Services Abbey House Baker Street LONDON NW1 6XL B/F168 ABN Amro Bank 199 Bishopsgate LONDON EC2M 3TY B/F331 ABSA Bank Ltd 52/54 Gracechurch Street LONDON EC3V 0EH B/F175 Adam & Company Plc 22 Charlotte Square EDINBURGH EH2 4DF B/F313 Adam & Company Plc 42 Pall Mall LONDON SW1Y 5JG B/F263 Afghan National Credit & Finance Ltd New Roman House 10 East Road LONDON N1 6AD B/F180 African Continental Bank Plc 24/28 Moorgate LONDON EC2R 6DJ B/F289 Agricultural Mortgage Corporation (AMC) AMC House Chantry Street ANDOVER Hampshire SP10 1DE B/F147 AIB Capital Markets Plc 12 Old Jewry LONDON EC2 B/F290 Alliance & Leicester Commercial Lending Girobank Bootle Centre Bridal Road BOOTLE Merseyside GIR 0AA B/F67 Alliance & Leicester Plc Carlton Park NARBOROUGH LE9 5XX B/F264 Alliance & Leicester plc 49 Park Lane LONDON W1Y 4EQ B/F110 Alliance Trust Savings Ltd PO Box 164 Meadow House 64 Reform Street DUNDEE DD1 9YP B/F32 Allied Bank of Pakistan Ltd 62-63 Mark Lane LONDON EC3R 7NE B/F134 Allied Bank Philippines (UK) plc 114 Rochester Row LONDON SW1P B/F291 Allied Irish Bank Plc Commercial Banking Bankcentre Belmont Road UXBRIDGE Middlesex UB8 1SA B/F8 Amber Homeloans Ltd 1 Providence Place SKIPTON North Yorks BD23 2HL B/F59 AMC Bank Ltd AMC House Chantry Street ANDOVER SP10 1DD B/F345 American Express Bank Ltd 60 Buckingham Palace Road LONDON SW1 W B/F84 Anglo Irish
    [Show full text]
  • Instructions to Your Bank Or Building Society to Pay by Direct Debit
    Instructions to your Bank or Building Society Originator's Identification Number to pay by Direct Debit 88 30 08 Please fill in the whole form and send it to your Halifax branch 1. Name and full postal address of your bank or building society branch To: The Manager bank or building society Address Postcode 2. Name(s) of account holder(s) 5. Halifax reference number (from which funds will be paid) 6. Instruction to your bank or building society Please pay Halifax direct debits from the account detailed 3. Branch sort code on this instruction subject to the safeguards assured by (from the top right hand corner of your cheque) The Direct Debit Guarantee. I understand that this instruction may be retained by Halifax and if so, details will be passed electronically to my bank/building society. 4. Bank/building society account number Signature(s) Banks and building societies may not accept direct debit Date instructions for some types of account. Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Customer Name Address This question only applies to mortgage customers whose household insurance premiums are added to their mortgage account. 7. Would you like your monthly repayment to include one twelfth of your property insurance premium? Yes No Tear-off slip to be retained by Halifax This guarantee should be detached and retained by the payer The Direct Debit Guarantee • This guarantee is offered by all banks and building societies that take part in the Direct Debit Scheme.
    [Show full text]
  • Instruction to Your Bank Or Building Society to Pay by Direct Debit
    Instruction to your bank or building society to pay by Direct Debit Please fill in the whole form including official use box using a ballpoint pen and send it to: Service user number Commercial Lending Department, 8 8 8 0 0 9 NRAM, North of England House, 1 Grayling Court, Doxford International Park, For Northern Rock (Asset Management) plc official use only Sunderland This is not part of your instruction to your bank or building society SR3 3BF Name(s) of account holder(s) Branch sort code Bank/building society account number Name and full postal address of your bank or building society Instruction to your bank or building society To the Manager Bank/building society Please pay Northern Rock (Asset Management) plc Direct Debits from the account detailed in this instruction subject to the safeguards assured by the Direct Debit Guarantee. I understand that this instruction may remain with Address Northern Rock (Asset Management) plc and, if so, details will be passed electronically to my bank/building society. Signature(s) Postcode Reference Date Banks and building societies may not accept Direct Debit Instructions for some types of account. ✂ This guarantee should be detached and retained by the Payer The Direct Debit Guarantee • This Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits. • If there are any changes to the amount, date or frequency of your Direct Debit Northern Rock (Asset Management) plc will notify you 14 working days in advance of your account being debited or as otherwise agreed. If you request Northern Rock (Asset Management) plc to collect a payment, confirmation of the amount and date will be given to you at time of the request.
    [Show full text]
  • Halifax Building Society Mortgage Calculator
    Halifax Building Society Mortgage Calculator Unrecoverable and ineffable Lincoln emplaced genuinely and paddle his fellies apomictically and elasticdisingenuously. and prototypal Spicate when Stavros recount usually some scrunches contrarieties some very Hilversum phrenetically or lay-out and exoterically?ineptly. Is Gavin always Today, the bank continues to lead the market in affordable mortgages for contractors. What are the different types of lifetime mortgages? What is an APR? Talk to a mortgage broker or lender to get a more accurate remortgage savings amount. If you have a credit card and use it regularly to buy petrol and pay off the balance each month it can have a positive effect on your credit rating. This is the most common repayment method. So you should be able to pick up your keys and start moving in immediately. Best Buy to Let mortgage rates for contractors. What is the strategy? So, what about tracker mortgages? Pension and earned income considered. If you live near one of our branches we can meet you face to face. Why become a Member? Using past performance figures, we have created a compounded annual growth rate to provide a annual percentage figure to calculate growth against. Halifax Payment Holiday Calculator. Is the property market hanging by a thread? Getting a Halifax mortgage. Fair Mortgages Limited is an appointed representative of Fair Investment Company Ltd which is authorised and regulated by the Financial Conduct Authority. These cannot be disabled. Canadian Lenders Association 2021 Leaders in Lending. Contractors looking for a mortgage who have been disappointed with the response from their high street bank branch will find that some mainstream lenders, alongside some less well known names, actively seek out contractor business by offering competitive deals.
    [Show full text]
  • Cooperative Banks: International Evidence Part of Nef's Stakeholder
    Cooperative banks: International evidence Part of nef’s Stakeholder Banks series nef is an independent think-and-do tank that inspires and demonstrates real economic well-being. We aim to improve quality of life by promoting innovative solutions that challenge mainstream thinking on economic, environmental and social issues. We work in partnership and put people and the planet first. nef (the new economics foundation) is a registered charity founded in 1986 by the leaders of The Other Economic Summit (TOES), which forced issues such as international debt onto the agenda of the G8 summit meetings. It has taken a lead in helping establish new coalitions and organisations such as the Jubilee 2000 debt campaign; the Ethical Trading Initiative; the UK Social Investment Forum; and new ways to measure social and economic well-being. Contents Executive Summary 2 1. What are Cooperative Banks? 4 2. The case for Cooperative Banks 7 2.1 The impact of cooperative ownership 7 2.2 A greater focus on high-street banking and branch services 8 2.3 Inclusive banking for SMEs and individuals 9 2.4 Long-term thinking and stable profits 11 2.5 Stability in a crisis: consistent lending and prudent management 12 3. What criticisms are typically made of the sector? 15 3.1 Cooperatives cannot quickly raise large amounts of capital 15 3.2 They are not as democratic as they claim to be 15 3.3 They act like commercial banks, but less successfully 16 3.4 They struggle to remove ineffective or opportunistic managers 17 3.5 Cooperatives are inefficient 17 4.
    [Show full text]
  • Leeds Building Society Design Consultancy: Thompson Brand Partners Submission Date: 26 June 2015 for Publication Transforming Society Executive Summary
    Industry sector: Financial services Client: Leeds Building Society Design consultancy: Thompson Brand Partners Submission date: 26 June 2015 For publication Transforming Society Executive summary The UK financial services sector has taken a battering since the recession in 2008. Regularly rocked by scandal and mismanagement, trust levels — especially in the banks — had been extremely low. Perceptions of building societies was better, but many younger people did not understand what they were or what makes them different. Leeds Building Society set itself a 10 year goal in 2012 to be the best building society in the UK. This would require massive investment in technology, people and its service proposition. To pay for it, the Society needed to expand from its regional base and significantly increase levels of profit. This is the story of how design has been used to refresh the Society’s branding. How design helped change perceptions of Leeds as being old fashioned and attracted vast numbers of new customers and business. How design has helped create 110 new jobs this year alone. How design helped 7,800 people buy their first home, and how it changed the internal culture and motivated the workforce. And in a year when the economy grew by only 2.6% and the organisation celebrated its 140th birthday, how design delivered record-breaking performance levels, propelling Leeds Building Society towards its 10 year goal. (201 words) Executive summary For the 12 months to April 2015, the Society has achieved the following fantastic results: Signifies all-time record level in 140 years Increased profits: Attracted new talent: Membership growth: - Operating profit up to a - Over 110 new jobs created - Total membership up to a record £80.9m, up 26%.
    [Show full text]
  • The Nature and Role of Building Societies in the UK
    The Nature and Role of Building Societies in the UK 19 december 2008 RAPPORT 2008-12-19 Dnr 17-64/08 Förord Statens Bostadskreditnämnd (BKN) har givit Christine Whitehead vid London School of Economics i uppdrag att beskriva den roll s.k. ”Building societies” spelar på den brittiska bolånemarknaden. I uppdraget ingick att göra en jämförelse med banker, att redovisa den historiska utvecklingen och att söka bedöma deras långsiktiga roll. Rapporten är ett led i BKN:s strävan att förbättra kunskapsläget om bolånemarknaderna i andra länder. Uppdraget relaterade också till BKN:s utredningsarbete rörande finansiering av upprustningar i s.k. miljonprogramsområden. Statens bostadskreditnämnd Per Anders Bergendahl The Nature and Role of Building Societies in the UK December 2008 Christine ME Whitehead Professor in Housing, London School of Economics Contact point [email protected] Contents Page 1. Introduction 5 2. A short history 5 3. The legal framework 9 4. Some current statistics 10 Savings 10 Mortgages 11 Market Share 11 5. Concluding comments 12 Table 1: Building societies taken over by Banks – to September 2008 8 Table 2: Key summary statistics August 2008 10 Table 3: Market Share of Building Societies 11 Table 4: Total mortgage balances outstanding end year 2007 11 Selected Bibliography 13 4 Part 2: The Nature and Role of Building Societies December 2008 1. Introduction Building societies are financial institutions which were developed specifically to fund owner-occupied housing. As such for many decades they were the main institutions within the special circuit of housing finance – based on tight regulation and government constraints on the one hand and tax breaks and restricted opportunities for consumer saving on the other.
    [Show full text]
  • Finding the Sweet Spot: How Building Societies Need to Strike a Balance
    BUILDING SOCIETIES RESEARCH REPORT FINDING THE SWEET SPOT: HOW BUILDING SOCIETIES NEED TO STRIKE A BALANCE. For professional use only 2 BUILDING SOCIETIES RESEARCH REPORT BUILDING SOCIETIES RESEARCH REPORT 3 EXECUTIVE SUMMARY For building societies, the rise of a week, and 84% use their building society’s website the digital banking environment Building societies remain “Building societies are at the heart at least once a month. heavily dependent on branches changes not just their strategy of their communities, but the way for product purchases. Most rate these services highly, with three quarters but also their fundamental their customers want to interact giving them a score of eight out of ten or more. going forward will change. Whilst nature. How do organisations Half (50%) of customers They’re also going to be increasingly important traditionally rooted in – opened their savings account branches have been at the core of revenue generators. and owned by – their local in branch against only 37% distribution, customers are telling using the building society’s us more and more that they want Insurance, among the most commoditized of financial communities fulfill their vision website. to buy their products and services services products, has long been the bread and butter in a society dominated by the online as well as through the of price comparison sites, for example. Yet at the Internet? 45% bought their mortgage in moment the branch is still the most common sales branch, against 19% online. branches.” channel for holders of life (47%), home (43%), critical Politicians, regulators, product Mark Holweger, Managing Director, illness (38%) and income protection (33%) insurance.
    [Show full text]
  • Buckinghal\Fshire. [KELLY's JOB Masters-Continueo
    270 JOB BUCKINGHAl\fSHIRE. [KELLY'S JOB MAsTERs-continueo. LACQUER MAKERS. Harris Matthew Major (to R G. W_ Clode Herbert,Fenny Stratford,Bletch- Rhus &; Co. Lim. Oxford rd. Wycmbe Tyringham esq.), Tyringham, New- ley Station port Pagnell Dancer W. Gerrard's Cross R.S.O LADDER MAKER. Harrison Cyril H. G. (to the Earl of Darvell C.I89Waterside,Cheshm.R'.S.0 Palmer Edwin; Palmer's wire sup- Roseb~~y), Ledbum, Leightn.Bzz!d *Fisher F. G. 42 Walton st. Aylesbury ported travelling cradles, 250 West- Hart PhIhp (to Leop?ld de.Rothsc.hild *Goddard William Edwd. Iver,Uxbdg minster Bridge road, London SE esq. J.P.), Moor hIlls, Wrng, LeIgh- Gough Wm. J. Market sq. Buckinghm ton Buzzard *Hall J. &; Son,Bumham, Maidenhead. LADIES' OUTFITTERS. Hay Colin (to Lord Addington), See advert See Outfitters Ladies'. Addington, Winslow Hawley Thos.High st. Stony Stratford Hepworth Montagu (to Lord Boston), Higgs W. & Son, Willow rd.Aylesbury LAGER BEER IMPORTERS. '1'he Priory, Hedsor, Bourne EndS.O Holland Joseph Senior, High street, Jacob F. &; Co. Jacob's Pilsener lager Hervey-Bathurst Fenton (to Dowager Wendover, Tring. See advert beer importers & bottlers, 77, 79 & Lady de Rothschild), Aston Clinton, tHowe Robert, Aston Clinton, Tring 81 Theobald's road, London WC Tring Innocent Lewis William Samuel,Manor Hubbard Frederick Joseph (to Alfred hotel, Datchet, Windsor LAND AGENTS. Charles de Rothschild esq.), Halton Lane T. F. High street, Beaconsfield See Agents Land, House & Estate. cottage, Halton, Tring R.S.O. ; station,Wooburn Gn.G.W.R James George Tubb (to the Earl of *Lewis Geo.
    [Show full text]
  • Questions and Answers
    Questions and answers Why has Holmesdale Building Society merged with What will happen to Holmesdale’s community Skipton Building Society? commitments? Holmesdale was one of the UK’s smallest building societies Skipton is keen to maintain Holmesdale’s strong connections and was competing in an increasingly challenging mortgage with its community partners and also intend to further market and in an operating environment which continued to develop Holmesdale’s community programme as part of drive up costs. our Skipton activities, which are focussed through the The Holmesdale Board undertook a fundamental review of the Skipton Charitable Foundation and Grassroots Giving current commercial and financial position and explored future community funding programme. strategic options available to it. They unanimously concluded that it was in the best interests of current and future Holmesdale Will there be any changes to my current terms and members to merge with a much stronger building society able to conditions of my accounts? offer more choice and value to members in the long-term. As a result of the merger, on 1 October 2018 (the date the merger Skipton Building Society is over one hundred times larger than took effect), Holmesdale savings and mortgage accounts became Holmesdale and the merger offers Holmesdale members a wider Skipton accounts and their terms and conditions changed in range of mortgage and savings products as well as financial accordance with the terms set out in the Appendices to the advice. Merger Booklet. This allows the accounts to operate consistently with Skipton’s What are the benefits of the merger? procedures. The two societies are both mutuals and share a similar ethos, Holmesdale members were sent details of these changes either in putting members first and supporting the communities they their AGM pack or by separate mailing.
    [Show full text]