## **The Grand Pavilion Ltd Group 2024/2025 Report** ## **1. Finances** - Reports and DOF Update: The detailed financial reports and updates from the Director of Finance will be provided during the AGM. - Cash flow has stabilised compared to last year, with improved forecasting and VAT management processes now embedded. ## **2. Successes** - **Building Works** : Following the successful flat roof replacements in 2023/24, this year we have focused on preventative maintenance and planning for the dome window repairs. - **Events Growth** : We delivered our busiest year yet, with a further increase in both the number and scale of events. Our reputation as a high-quality venue continues to grow, attracting new audiences and partners. - **Café** : Under new management, the café has implemented improved systems and processes, resulting in steady growth and excellent customer feedback. The new People Plan has supported staff resilience and volunteer engagement. - **Bar** : Building on last year’s record revenues, the bar has grown again, with new product lines and improved service. Planning for future bar development is underway. - **Communications and Marketing** : With a new manager in post, our brand presence has expanded significantly. Social media engagement and website traffic have both increased, supporting ticket sales and community awareness. - **Governance and Processes** : Continued strengthening of organisational structures, risk management, and event duty manager processes has improved consistency and professionalism across operations. - **Community Engagement** : We have begun to reverse the decline in community room bookings, with new outreach and targeted programming starting to show results. ## **3. Challenges** - **Lift Project:** Progressing the lift feasibility study highlighted the scale of technical and funding requirements, and securing the necessary capital remains a significant challenge. - **Men’s Toilets** : The upgrade project remains a priority. Despite progress in planning, securing the necessary £20k funding has been slower than hoped but we are hoping to tie funding for this within our Lift project. - **Maintenance Backlog** : While improved, cash flow still limits the pace of estates work. Prioritisation remains essential. - **Volunteer Capacity** : As activity grows, so too does the demand on our volunteer base. Recruitment and retention are ongoing challenges. - **Grant Success Rates** : While bids have been submitted, competition remains fierce. - Developing a three-year grant strategy is critical to future sustainability. ## **4. Strategic Aims 2024 (Review)** - **Bids** : Minimum of 2 successful bids – _Partially achieved; one secured, others pending_ - **Three-Year Grant Strategy** – _Drafted, to be finalised in 2025_ . - **Cash at Hand (£7,500 by April 2025)** – _On track but dependent on grant outcomes_ . - **Revenue Growth (5%)** – _Achieved_ . - **Events Growth (5%)** – _Exceeded_ . - **Room Bookings (20%)** – _Improving but not yet achieved_ . - **Café Growth (5%)** – _Achieved_ . - **Café People & Productivity Plans** – _Implemented successfully_ . - **Dome Windows** – _Planning stage, works scheduled for 2025(now completed)_ . - **Office/Meeting Space** – _In progress_ . - **Gents’ Toilets** – _Plan in place, funding still required_ . - **Bar Growth (5%)** – _Achieved_ . - **Events Promotion** – _Developing plans and processes new comms manager_ . ## **5. Planning for the Year Ahead (2025)** - **Capital Projects** : Deliver dome window repairs and progress the gents’ toilet upgrade. - **Events** : Build on momentum with a diverse programme, including more community-led and heritage-focused events. - **Café** : Consolidate growth with new menu development and volunteer training. - **Bar** : Develop a long-term plan for expansion and improved facilities. - **Community Room** : Relaunch with targeted programming and improved facilities to attract local groups. - **Grants** : Finalise and implement the three-year grant strategy, with a focus on accessibility and sustainability. - **Office Spaces** : Complete under-dome office and meeting space to support staff and volunteer capacity. - **Strategy** : Board and operations team to refine long-term vision, aligning heritage preservation with community and commercial growth. ## **6. Strategic Aims 2025** - a. Secure a minimum of 3 successful bids across 2025/26. - b. Implement the Three-Year Grant Strategy. - c. Secure £10,000 cash at hand by April 2026. - d. Lift project grant bid. - e. 7% increase in revenue across charity activities. - f. 10% increase in events across the year. - g. 15% increase in community room bookings. - h. 7% café growth with new menu and volunteer training. - i. Deliver dome window repairs. - j. Complete gents’ toilet upgrade. - k. Finalise under-dome office and meeting space. - l. Develop and implement long-term bar plan. - m. Expand brand awareness regionally to attract tourism audiences. ## **Closing Note** This year has been one of consolidation and growth. With strong foundations in place, we are well positioned to deliver major capital improvements and expand our role as a cultural and community hub for Matlock Bath and beyond. ## Statement of Activity ## The Grand Pavilion Ltd April 1, 2024-March 31, 2025 |DISTRIBUTION ACCOUNT|TOTAL| |---|---| |Income|| |Membership Fees|613.00| |Rent|£24,398.50| |Room Hire|4,200.00| |**Total for Rent**|**£28,598.50**| |Services|323.25| |**Total for Income**|**£29,534.75**| |Cost of Sales|| |**Gross Profit**|**£29,534.75**| |Expenses|| |Admin|3,279.92| |Bad debts|58,563.09| |**Total for Expenses**|**£61,843.01**| |**Net Operating Income**|**-£32,308.26**| |Other Income|| |Other Expenses|| |**Net Other Income**|**0**| |**Net Income**|**-£32,308.26**| **1/1** **Accrual Basis Tuesday, April 15, 2025 07:04 PM GMTZ** ## **Independent Examination / Audit Statement** As The Grand Pavilion Ltd is not required by law to have its accounts formally audited, the trustees have undertaken an internal review of the financial statements for the year ended 31 March 2025. The trustees confirm that: - The accounts have been prepared in accordance with the Charities Act 2011 and applicable regulations. - A self-audit process was carried out by the trustees, including a review of income, expenditure, and supporting documentation. - No material matters have come to the trustees’ attention which would give cause to believe that the financial statements do not give a true and fair view of the charity’s financial activities during the year. This statement is provided in place of an external examiner’s or auditor’s report, in line with the charity’s size and statutory requirements. Signed on behalf of the trustees: ## D Mowle David Mowle Chair of Trustees Date: 20/07/2025