Nowhere 2020 financial report
Nowhere 2020 ticket income:
Our total income to date is 653,439 euros including 2579 euros donation to arts with 3390 tickets sold.
|2,579€||107||Donation to Arts||/||/|
|240€||3||14 to 18 years old||80||0.1%|
|120€||1||Local (Los Monegros)||120||0.0%|
|65,600€||328||Pre Sale codes||200||9.7%|
|540,032.23€||Total after tax|
|Mailchimp – Newsletter||€1,500|
|Accountancy fees (estimation)||€10,000|
|Bank fees / Forex (estimation)||€500|
|Going Nowhere – Somewhere EU (companies liability insurance)||€1,000|
|Professional services: Financial Coordinator, Finance and Legal Support, Site and Logistics Coordinator, plus relevant employment taxes||€80,000|
|Logistical costs, trips to Sariñena, permit meetings||€500|
|Organic toilets – 10% non-refundable deposit||€4,000|
|Build, Design and Strike Management, already spent||€400|
Accounts Explanation From The Directors:
Since we published our first estimate on the costs of cancelling Nowhere in 2020, we have spent the last week taking a deeper look at the figures and consulting our accountants.
We have been able to substantially trim some costs, mainly by canceling the annual all leads meeting, reducing our staff’s hours over the coming year, and trimming other year-round costs where possible.In our haste to get these numbers out with the initial announcement. We included a couple of line items, such as last year’s tax, that, although we have to pay this year, should have been included in last year’s budget. For this mistake we must apologie to the community.
Regarding other expenses, such as the toilets, we were able to agree with the supplier to defer the service until next year. At this point we’re confident that we’ll be able to recover this cost in the future, which allows us to further reduce the cancellation expenses. We will also investigate what losses we can offset against future tax and any other government schemes that might be of benefit to us.
The above updated table represents the current cash flow impact on Nowhere as we now understand it for the next year. Clearly, this is still a fast moving situation and we may have to revise these numbers again as more information becomes available to us.
Nowhere 2019 financial report
From 1 January 2019 to 31 December 2019
Nowhere 2019 was a successful event leaving a slight surplus. For the first time in a number of years there were no major unplanned expenses and we did not have to use the contingency budget. This money has now been put towards providing refunds for Nowhere 2020 tickets.
This year we extended build by one week which increased a number of costs including vehicle and equipment rental, and crew subsistence supplies etc.
As the official financial year varied between our different corporate entities, we have now syncronised the fiscal year to run from 1st January to 31st December for each company, meaning that this report overlaps with our last report.
In a change from previous years we have split the costs for staff and contractors out from our external professional services in order to provide greater clarity. During 2019 we had one full time staff member and three seasonal contracts.
Fees from the local council towards site rental, permit, road repairs and land preparation continue to rise each year and remain one the event’s largest expenses.
A few months before the event, a change in regulations for outdoor workers lead to local scarcity of the aircon cabins which we use for volunteers and the Red Cross. This lead to us having to source them from Catalunya at a substantially higher cost than normal.
Most departments stayed within their budget and we had planned some spend that was not subsequently realised, leaving us with a healthy overal status.
Our corporation tax bill is lower this year due to a new company government discount. Our sales tax also continues to reduce due to our diligence in offsetting invoices.
Event maturity, with an emphasis on the importance of participant wellness and safety, lead to expansion in the provision of security and the Red Cross.
Art grants, performance grants and innovation grants were well managed and matched almost 10% of the ticket income as budgeted.
|Ticket sales, Buses, Ice and Water||566,830€|
|Appreciation||1,858€||Volunteers Party, Safe House, Schwag|
|Comms||2,560€||Newsletter, WWW Guide|
|Creativity Department||38,939€||Art, Art Cars, Performance, Workshop and Innovation Grants, Decor and Kunsthaus|
|Gate, Greeters, Perimeter||1,378€||Gate, Greeters, Perimeter|
|Insurance||5,416€||Liability, Storage and Event Insurance|
|LNT||14,080€||Leave No Trace, Skips|
|Meetings||3,815€||Site Visits and Meetings, including Annual Leadership Meeting in Barcelona|
|Other services||42,988€||Ticket fees, Buses, Ice and Water (before income)|
|Participant Wellness||35,845€||Red Cross, Welfare Enough, Malfare, Security, Consent, Site Ops|
|Production||3,805€||Production Office, Wristbands, Phones|
|Profesional Services||16,830€||Accountancy, Legal Fees and Other Services|
|Public Works||28,283€||Build Materials, Containers, Cabins, Containers Transport, Storage, Purchase, City Planning|
|Site prep||8,831€||Site and Road Works|
|SLaP||20,986€||Sound, Light, Power, Generators, Generators Fuel|
|Staff and Contractors||67,560€||Staff, Paid Coordinators and Employment Taxes|
|Storage||6,710€||Storage Barcelona & Sariñena|
|Toilets||22,849€||Toilets Rental, Servicing, Sanitation Department|
|Transport||9,960€||Shipping to Spain, Vehicle Hire, Vehicle Fuel|
|Volunteers||14,138€||Cantina, Fluffers, Volunteers Department|
Nowhere 2018 financial report
From 1 April 2018 To 31st March 2019
A successful year leaving a slight surplus which was put towards Nowhere 2019.
Fees from the local council towards site rental, permit, road repairs and land preparation continue to rise each year and remain the event’s largest cost outlay.
The company structure behind the Nowhere event went through a major overhaul to decrease individual liability and to move overall management more into Spain. The Spanish branch office migrated into a full limited company and a new parent company was established in the UK. In addition, as the event matured, a second paid contractor was recruited, as Diana took on the role of Finance Coordinator. This has increased our costs for professional services.
Our tax bill remains high, although is somewhat mitigated by our Finance Coordinator’s attention to detail, in claiming rebates against spend.
Event growth plus an emphasis on the importance of participant wellness and safety lead to expansion in the provision of security and the Red Cross.
Art grants, performance grants and innovation grants were well managed and matched around 8% of the ticket income (10% budgeted), an improvement on 2018 but still not quite meeting targets due to some artists dropping out just before the event.
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Nowhere 2017 financial report
From 1 April 2017 To 31st March 2018
A year without any major mishaps lead us to not having to spend our contingency, leaving a healthy balance to kick off Nowhere 2018 and to allow us to keep ticket prices down.
The fees from the local council towards site rental, permit, road repairs and land preparation increase each year and are one of our major costs.
Just under 5% of the total income went on grants to artists, performers and innovation, which was less than the 10% budgeted due to some drop outs.
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