FINANCIAL REPORTS
Beans, beans, beans!

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.

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.