What is BID Camborne? Not for profit company working on behalf of - PowerPoint PPT Presentation

BID Camborne Year 5 – ended 30 th April 2017 Report of the Directors and the Accounts for Year 5 Mel Martin – BID Camborne Manager AGM – 21 st November 2017

What is BID Camborne? • Not for profit company working on behalf of the businesses of Camborne • Voted in March 2012 for term 1 - Yes vote was 67.9% of voters & 79.58 % of rateable value Voted in November 2016 for term 2 . Yes vote • was 57% of voters & 75% of rateable value • One part-time manager (25 hours per week) • 15 Directors places - all volunteers – estimate around 700 hours of volunteer time per year working on behalf of BID Camborne . • Currently 288 BIDs in UK & Ireland

3 Themes for the Projects Theme 1 – Environment & Promotion - The main theme Theme 2 - Cost Savings - Information on company website Theme 3 – Best For Business Creating new website & social media, lobbying & promoting training opportunities We maximise success by working together.

Year 5 Accounts BID CAMBORNE 1 st May 2016 – 30 th April 2017 Company number 7900674

The Statutory Accounts Profit & Loss Account 1 st May 2016 – 30 th April 2017 £ Turnover 116,096 Cost of sales (81,764) Gross Profit (34,332) Administrative expenses (39,223) Operating Loss (4,891) Interest receivable 412 ____________ Loss on ordinary activities before taxation (4,479) Tax on profit on ordinary activities (112) Loss for the financial year (4,591) Note: BID Camborne is a ‘Not for profit’ company. The ‘Loss’ is covered by Year 1 reserves i.e. spending year 1 underspend . The tax paid is Corporation Tax eligible on the interest receivable.

The Statutory Accounts Balance Sheet 30 th April 2017 £ £ Fixed assets Tangible assets 149 Current assets Debtors 204 Cash at bank & at hand 959 1,163 Creditors (within 1 year) (814) Net current assets 349 Total assets 498 Provisions for liabilities (30) Net assets 468 Reserves Profit and loss account 468 Total Reserves 468

The Statutory Accounts Statement of Changes in Equity 30 th April 2017 Share Share Re- Profit Total Capital Premium valuation & loss Reserve account £ £ £ £ £ At 1 May 2015 - - - 49,801 49,801 Loss for the financial year (44,742) (44,742) At 30 April 2016 5,059 5,059 At 1 May 2016 - - - 5,059 5,059 Loss for the financial year (4,591) (4,591) At 30 April 2017 468 468

NON Statutory Accounts Income Year 5 to 30 th April 2017 Budget £ Actual £ BID Levy 108,225 113,071 Grants (Additional contributions) 2,000 2,805 Interest 1,182 412 Total income 111,407 116,096 Notes: Income is £4,689 over budget target. BID Levy figure includes Voluntary levy payments Grants & Other contributions includes Camborne Town Council £2,500 grant towards Man Engine & £305 from Cllr Community Chest Grant for the town guide. Interest target is 1% of income. This is difficult to achieve currently.

NON Statutory Accounts Project expenditure to 30 th April 2017 Budget £ Actual £ Theme 1: Environment & Promotion (50%) (47%) Environmental Improvements 26,000 25,134 Safety 6,000 0 Access 11,000 2,774 Events 7,000 7,728 Promotion 9,703 19,422 Total 59,703 55,058 Theme 2: Cost Savings (10%) (0%) Waste Not Want Not 5,940 0 Cutting Overheads 3,000 0 Total 11,940 0 Theme 3: Best For Business (20%) (10%) Workshops 6,883 0 Business Advertising (website) 12,000 6,015 Social media accounts 5,000 5,997 Total 23,883 12,012 Renewal – Camborne Can do More 0 14,694 Note: Management time has not been included in these project figures .

NON Statutory Accounts BID Delivery & running costs Budget £ Actual £ BID Management 18,641 20,895 (Target is 20%) BID Overheads & admin 5,240 18,328 (Target is 10%) Total 23,881 39,223 Notes: Part-time BID Camborne Manager working 25 hours per week. Budget was based on 20 hours per week. 25% of management time spent on projects - (£5,223) and 75% on managing the company (£15,671). (13% achieved). Overheads- biggest single increase is levy collection charge from Cornwall Council, now £6,870, was £750 in Year 2. £1,770 of bad debt was also written off this year. (16% achieved). All Directors volunteer their time and are not paid.

Theme 1: Environment & Promotion Environmental Improvements: £25,134 in Total Adding colour and vibrancy to the streetscape Christmas Lights & attractions The Christmas Tree e.g. Santa’s Bench

Theme 1: Environment & Promotion Environmental Improvements: Adding colour and vibrancy to the streetscape Spring Bunting – which was put up for Trevithick day & left up all summer for Man Engine

Theme 1: Environment & Promotion Environmental Improvements: Adding colour and vibrancy to the streetscape Cross Street Flags Over the Street Banners

Theme 1: Environmental and Promotion Safety - £0 • Working with Safer Cornwall • Keeping our Town Centre and Commercial Square on the agenda. • No project money spent on this area this year, but Management and Director time committed

Theme 1: Environment & Promotion Access - £2,774 Re-printing Town Free Parking for Welcome Maps X 5 Christmas in Rosewarne

Theme 1: Environment and Promotion Events – supporting existing & developing new (to drive footfall) £7,728 Christmas Lights Switch Day – Events & activities supported Estimate 5,000 people attended • Trevithick Day • Produce Market – now every Friday • Music Festival (November) New Events (with partners) • Man Engine for Camborne – BID paid to bring him to Camborne on 3 rd August 16 & managed Camborne’s visit

Theme 1: Environment & Promotion Promotion - £19,422 Christmas in Camborne Edition 5 of the Town 2016 Guide Guide – 56,000 copies

Theme 1: Environment & Promotion Promotion Month West Briton Page other PR work & Point of Sale products & Man Engine promotion

Theme 1: Environment and Promotion The Marketing Plan for Levy Payers – Fortnightly email – get on the email list – Quarterly newsletter (hardcopy) – Website – www.cambornecando.co.uk – Welcome pack for new businesses – BID Camborne Director (x15) – make the decisions (board meetings & Working Groups)

Theme 1: Environment and Promotion The Marketing Plan for your businesses – Facebook, Twitter, Instagram, You Tube – PR – generating positive stories for the local media about your businesses – Website – www.cambornetown.com – launched in July 2015 & first page on google – Town guide – Monthly West Briton Page

Theme 3: Best For Business Social Media for the town Facebook, twitter, Instagram & You Tube

Theme 3: Best For Business New Website – cambornetown.com Work on www.cambornetown.com continues. The site is currently attracting 600 new visitors per week on average (1,600 last week)

Finally….. “It’s your business, your town, your money, ……..so your investment in Camborne….” Time for Questions……..