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Shareholder Committee Report of the Head of HR and OD |
30 October 2022 |
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City of York Trading Ltd Update
Purpose of Report
1. To note the Company’s statutory accounts for 2021/22 provided as Annex A
2. To consider the City of York Trading Ltd Performance Update October 2022 provided as confidential Annex B. The performance update is private due to the commercial sensitivities.
3. To note the City of York Trading Ltd Procurement Policy Statement provided as Annex C, Carbon Reduction Plan, provided as Annex D and Sustainability Policy Statement provided as Annex E.
Recommendations
4. Note the statutory accounts for City of York Trading Ltd for the financial year 2021/22 attached at Annex A to this report.
Reason: To ensure the Council is updated on the financial status of City of York Trading Ltd.
5. Note the confidential Performance Update from City of York’s Trading Ltd attached at Annex B to this report.
Reason: To ensure the Council is updated on the performance of City of York Trading Ltd.
6. Note the Procurement Policy Statement attached at Annex C to this report, Carbon Reduction Plan attached at Annex D to this report and Sustainability Policy Statement attached at Annex E to this report from City of York Trading Ltd.
Reason: To ensure the Council is updated on the policies and plans of City of York Trading Ltd.
Background and analysis
7. City of York Trading Ltd (trading as WorkwithYork, WorkwithSchools and WorkwithYorkshire “the Company”) was formed in 2011 with the intention of supplying temporary staff to the Council, to local schools and permanent and temporary staff to other outside organisations.
8. Through the Company, the Council makes a cost saving compared to the cost of agency staff on the open market, and is also able to secure staff to cover hard-to-fill roles where permanent recruitment is challenging.
9. In addition, the payment of an annual dividend from the Company’s overall profits is designed to assist the Council’s financial position.
Key Company Matters 2022/23:-
10. The Company’s Board of Directors is unchanged since 15 June 2022 report to Shareholders and continues to meet monthly to consider monthly financial and performance reports and discuss strategy going forward.
11. The Company’s statutory accounts for 2021/22 are attached – there is a minor adjustment for 2021/22 and a re-statement for 2020/21 both resulting from valuation changes in obligations under a defined benefit pension scheme (of which three of the Company’s twenty staff are members). These accounts have been approved by the Company’s Board and will shortly be filed. The Board will consider the Shareholder’s dividend at October’s meeting.
12. Key Performance Indicators are monitored on weekly and monthly basis.
13. Marketing activities continue, including utilisation of the Company’s websites and social media channels.
14. The Company appointed two new members of staff in October 2022, a trainee recruitment consultant to assist with WorkwithYork’s temporary recruitment for the Council, and an experienced recruiter to grow the Company’s commercial business, WorkwithYorkshire.
Procurement
15. The Company’s main procurement is staff for clients including CYC. Owing to the nature of the Company’s business, other procurement is relatively modest by comparison and the Company’s Procurement Policy Statement at Annex C reflects this, setting out general principles to incorporate social, environmental and ethical considerations as well as value for money in procuring goods and services locally and sustainably wherever possible, utilising SME’s and treating suppliers fairly and ethically. Having been recently approved by the CYT Board, this Policy Statement will shortly be published on the Company’s websites, with links in email footers of those members of the Company’s staff who deal with suppliers and procurement.
Sustainability
16.The Company, through its WorkwithSchools brand, is a Crown Commercial Service (CCS) Supplier, and as such has recently submitted to the CCS (and had approved) a Carbon Reduction Plan, attached at Annex D and published on the WorkwithSchools website. The 2022 Plan is based on emissions in 2021/22 and is subject to annual review, renewal and approval. With a recent move to a larger office, the Company has accepted that in the short term its emissions are likely to have increased, but is working to plan for future reductions and mitigations, and is committed to achieving carbon net zero by 2050 at the latest.
17.The Company has registered for assistance and advice from the partnership between the Sustainable Business: Leadership, Innovation and Management Programme at the University of York and the York and North Yorkshire Local Enterprise Partnership.
18. Alongside this Carbon Reduction Plan, the Company also has a Sustainability Policy Statement attached at Annex E, setting out a triple bottom line approach – environmental, social and financial. This Policy Statement has recently been approved by the Company’s Board and will shortly be circulated to staff, posted on the Company’s websites with links on email footers to candidates, clients and suppliers.
19. The Company is in discussion with Membership Support at the Good Business Charter to explore how it may be able to secure membership – discussions have taken place regarding the Living Wage and which staff form part of the application. The Company is waiting for formal advice on this before submitting an application.
Risk Management
20. There are no specific risk issues arising from this report.
Implications
21. There are no financial, legal, HR, equalities, crime and disorder, information technology, property or other implications arising from this report.
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Author: |
Chief Officer responsible for the report: |
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Karen Bull, MD CYT Ltd
Helen Whiting Head of HR and OD |
Debbie Mitchell Chief Finance Officer |
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Report Approved |
Y |
Date |
19/10/2022 |
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Wards Affected: |
All |
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For further information please contact the author of the report |
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Annexes:
Annex A – CYT Statutory Accounts 2021/2022
Annex B– CYT Performance Update October 2022 CONFIDENTIAL
Annex C - City of York Trading Ltd Procurement Policy Statement
Annex D - City of York Trading Ltd Carbon Reduction Plan
Annex
E – City of York Trading Ltd Sustainability Policy
Statement