The Grand Pavilion Ltd Group 2023/2024 Report
1. Finances
- Reports and DOF Update : The detailed financial reports and updates from the Director of Finance will be provided during the AGM.
2. Successes
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Flat Roof Replacements : Over the past year, we encountered issues with two of our flat roofs, which unfortunately failed. Addressing these problems was crucial to maintaining the integrity of our building. The replacement work, which cost approximately £14,000, was completed to a very high standard. While this expenditure impacted other areas of our budget, it was necessary to ensure the safety and functionality of our facilities.
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Bar Improvements : We have made significant enhancements to our bar area, which have contributed to a better customer experience and increased revenue.
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Stage and PA Improvements : Upgrades to our stage and public address systems have been successfully implemented, enhancing the quality of our events and performances.
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Lighting Improvements : New lighting systems have been installed, providing better illumination and ambiance for our events.
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Risk and Process Development : We have developed and implemented new risk management strategies and operational processes across the building, ensuring a safer and more efficient environment.
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Organisational Structures and Governance : Improvements have been made to our organisational structures and governance, streamlining operations and enhancing accountability.
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Lift Appraisal Project : We have initiated a lift appraisal project and selected partners to deliver the work. The project is expected to report back this year, providing us with valuable insights and recommendations.
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Communications and Marketing : This year, we launched a new, focused company branding and promotion strategy, which has been well received by our community and stakeholders. Special thanks to Jen for her outstanding work under tight time and budget constraints. Jen will be leaving us next month, but we are hopeful she will continue to contribute as a volunteer.
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Events : This has been our most successful year to date, with several major events that have significantly raised our profile. Deb has been instrumental in driving success and growth, building a strong reputation for delivering excellent events.
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Café : The café has continued to grow, receiving excellent customer feedback. Kudos to Lucy and the entire café team for their hard work and dedication. Big thanks to Lucy for her contribution to our café incredible development under her tenure, really sorry to see her leave this role but she will be staying involved in the charity in other capacities so we are grateful to have her continue input.
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Bar : We achieved our highest bar revenue since inception. This success is a testament to the great work by Dave, Peggy, and all the volunteers and staff who have supported this growth.
3. Challenges
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Men’s Toilets : The condition of the men’s toilets remains a concern. We are currently exploring grants to fund necessary improvements to enhance the facilities.
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Cash Flow and VAT : Our VAT bill was higher than expected in our first year of registration. However, we have a plan in place with HMRC and have implemented robust processes to manage this. These measures will help us better anticipate and handle future financial obligations.
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Maintenance Schedule : Due to cash flow constraints throughout the year, it has been challenging to fund building maintenance as we would have liked. However, this situation is gradually improving, and we are optimistic about our ability to address maintenance needs more effectively in the future.
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Community Room Bookings : This area has not seen the growth we anticipated, and we have lost some community users. We aim to focus on this area in the coming year with an ambitious strategy to increase usage and improve facilities. Our goal is to make the community room a vibrant and wellutilised space once again.
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Event Duty Manager Processes : We have observed inconsistencies in this area and need a clear operational plan. Deb will lead efforts to improve this process, ensuring a more consistent and professional approach to event management.
4. Strategic Aims 2023
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a. Review and update building plans and supporting estates risk documents – New Documents and processes in place.
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b. Complete a minimum of 4 bids across 2023/24 – Target met but limited success in obtaining funding from bids.
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c. Secure £10,000 cash at hand by April 2024 – Due to flat roof repairs we have been unable to achieve this.
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d. Feasibility study linked to accessibility and the supporting the creation of multi-functional lift provision – Underway due to report back in 2024 / early 2025.
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e. 10% increase in revenue across charity activities - Achieved
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f. 15% increase of events across the year – Achieved
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g. 7% increase of room bookings – Not Achieved
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h. Stabilise Café staffing to improve resilience – Staffing has been challenging at point sin the year but overall it has been a lot more stabile and this has helped support the café’s continues growth.
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i. Repair dome flat roof - Completed
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j. Estates work to create new office and meeting space in the under-dome level – This work had to wait for roof repairs to be completed and we are now waiting for the room to dry out before planning improvement works.
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k. Gents' toilet upgrade plan – Plan agreed currently attempting to secure funding for this work, in the region of £20k is required.
5. Planning for the Year Ahead
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Office Spaces : The works team will focus on bringing more office space online for staff and volunteers, providing better facilities for our team to work and collaborate.
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Events : We aim to create our busiest year yet, with a packed schedule of events that will engage our community and attract new audiences. Planning for 2025 is already underway to ensure continued growth and success.
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Café : A new manager will start, implementing new systems and processes to boost productivity and efficiency. We are excited about the potential for further growth and improvement in this area.
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Communications : A new Communications and Marketing Manager will join us, focusing on growing brand awareness, increasing social media presence, and developing our website to support all business areas and events. This will help us reach a wider audience and enhance our engagement with the community.
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Grants : We will renew our focus on securing grants for capital projects and community-specific initiatives. This funding will be crucial in supporting our ongoing development and improvement efforts.
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Rent Reviews : We will conduct rent reviews for all tenants and long-term booking users to ensure fair and sustainable arrangements.
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Strategy Update : The board and operations team will hold strategy sessions later this year and into 2025 to clarify our purpose and mission. These sessions will help us set clear goals and develop a roadmap for the future growth and improvement of The Grand Pavilion Ltd.
6. Strategic Aims 2024
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a. Achieve a minimum of 2 successful bids across 2024/25.
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b. Create overall Building Three Year Grant Strategy
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c. Secure £7,500 cash at hand by April 2025.
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d. Consider Lift Feasibility study and set out future plans to realise this.
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e. 5% increase in revenue across charity activities.
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f. 5% increase of events across the year.
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g. 20% increase of room bookings
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h. 5% Café Growth
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i. Café People Plan
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j. Café Efficacy and productivity Plan
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k. Repair dome Windows
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l. Estates work to create new office and meeting space in the under-dome level.
m. Gents' toilet upgrade project.
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n. Increased Events promotion and brand awareness across our target audiences.
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o. 5% Bar Growth
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p. Future Bar Plans.
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q. Whole Building Three Year Grant Strategy
This concludes this report, I hope you are encouraged and assured by our plans, and we look forward to discussing them with our staff, volunteers, friends of the grand pavilion, the local community and our customers.
The Grand Pavilion
Financial Activities
April 2023 - March 2024
| TOTAL | |
|---|---|
| Income | |
| Cafe Takings | 145,867.23 |
| Other Income | 7,936.91 |
| Rent | 983.99 |
| Services | 64,991.47 |
| Total Income | £219,779.60 |
| TOTAL | £219,779.60 |
| Expenditures | |
| Accountancy | 720.00 |
| Admin & General Ops | -10,000.00 |
| Advertising/Promotional | 1,165.48 |
| Banking Fees | 251.61 |
| Bar | -818.16 |
| Building & Estates | -32,500.84 |
| Café & Catering | -21,500.00 |
| Card Payment Fees | 4,683.92 |
| Cleaning | 3,479.14 |
| Employer National Insurance Expense | 1,956.81 |
| Entertaining | 582.49 |
| Equipment Expense | 8,847.38 |
| Events | -11,160.32 |
| Fire System | 600.00 |
| Food and Drink Stock | 82,926.58 |
| Insurances | 9,041.55 |
| Misc | 5,624.93 |
| Office/General Administrative Expenses | 1,151.79 |
| Other Professional Services | 13,803.38 |
| Promotion | 493.34 |
| Repairs | 4,961.83 |
| Security | 391.00 |
| Stock Waste | 1,444.16 |
| Sundry Supplies | 117.92 |
| Utilities | 19,894.18 |
| Wages Expense | 94,399.91 |
| Waste Collection | 2,525.75 |
| Total Expenditures | £183,083.83 |
| NET OPERATING INCOME | £36,695.77 |
| NET INCOME/(EXPENDITURE) | £36,695.77 |
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Accrual Basis Monday, 3 June 2024 12:44 pm GMT+01:00
The Grand Pavilion Ltd is a small self-auditing organisation that prepares its own account. We used volunteers with accountancy and auditing background and skills to give support to the Operations Committee and Board and offer assurance to our membership.
15/05/2024 –GPL ops Committee