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.