Issue - meetings

Background:

This report provided the Cabinet with an updated Business Plan for Kyndi Limited (formerly known as Medway Commercial Group) for approval and also provided details of the company’s rebrand.

The report set out that the Cabinet had previously approved the new Business Strategy for Medway Commercial Group. This had informed the revised core business priorities and included proposals for rebranding the Company. The  Board had approved the change of name from Medway Commercial Group to Kyndi Limited and from Medway Commercial Services to Kyndi Care Limited at a meeting in January 2021. The necessary changes were then made at Companies House in March 2021.

The report highlighted that the company was expected to make a net pre-tax profit of circa £600,000 in 2021 – 2022, with Exempt Appendix 1 to the report having set out Kyndi’s full Business Plan.

Reasons:

Cabinet acting as the shareholder must approve the Business Plan presented. This will enable the regular monitoring against progress.