Business Plan 2016 – 2021

Business Plan
2016 – 2021
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Clevedon Pier and Heritage Trust Limited, Registered Society Number 7163
Contents
1.
Executive Summary
2.
2016 -2021 Targets
3.
Our History
4.
Development Plans
5.
Products
6.
Clevedon and The Pier
7.
Target Markets
8.
Operations
9.
Clevedon Pier and Heritage Trust Limited
10.
The Community Share Offer
11.
Community Engagement
12.
Finances
13.
Risk
Appendices (Separate documents)
1.
2.
3.
4.
5.
6.
7.
Development Plans - The Vision
Staff Job Descriptions
Directors and Advisers to the Trust
Marketing & Engagement Plan
Risk Register
Financial Assumptions sheet
Profit & Loss, Cashflow and Balance Sheet – Scenario 1 (See
Section 12 for underlying assumptions).
8. Profit & Loss, Cashflow and Balance Sheet – Scenario 2 (See
Section 12 for underlying assumptions).
1. Executive Summary
At a Public Inquiry in 1980 John Betjeman described Clevedon Pier
as “the most beautiful pier in England”. The Pier, which was
subsequently restored to its full glory, now enjoys the rare accolade of
a Grade 1 architectural listing. Every year approximately 90,000
people visit the pier to enjoy the views, take a boat trip or engage in
recreational activities such as angling. The Pier is a precious jewel
that has survived over 150 years and which will hopefully survive at
least 150 years more.
The Pier is in great shape and the new Visitor Centre will reinforce its
status as a tourist destination. Apart from the beauty of the structure
itself, in the future visitors will be able to learn more about Clevedon,
the Pier and the estuary through the heritage display that will be in
situ on the first floor of the original Toll House. Furthermore visitors
will have access to weatherproof facilities including a café &
restaurant venue which will cater for all tastes.
However, the Pier is an expensive structure to maintain. Apart from
the day-to-day maintenance costs, approximately every ten years it is
necessary to repaint all of the metal work and to provide protection
against the fierce winds and tides that prevail in the Severn Estuary.
For the past 50 years these costs have been covered by paying visitors
and through the generosity of Local Government, sponsors and local
benefactors. This hit or miss approach is not sustainable in the future
and so the directors have put in place a plan that will ensure that
future generations can enjoy the pier without the threat of it falling
into disrepair.
A major part of this plan has already been delivered. A total of £1.8m
has been provided by a range of individuals and organisations. These
are principally The Heritage Lottery Fund and The Coastal
Communities Fund. The total cost of the new Visitor Centre and other
associated improvements is £2.2m and a Community Share Offer will
secure the shortfall. The Share Offer provides a unique and exciting
way for people who care about the Pier to invest in its longevity. The
ten year growth projections are modest, the underlying assumptions
are realistic and the directors are confident that the long term future of
the Pier will be secure once this final tranche of funding has been
sourced.
2. 2016 – 2021 Targets
Our aim is to improve the customer experience so as to increase
visitor numbers and thus provide financial independence in order to
preserve the Pier for future generations. Our plan will deliver against
the following targets:
Proj.
Year 1
2015/16
Visits to the Pier
Year 2
Year 3
Year 4
Year 5
2016/17 2017/18 2018/19 2019/20 2020/21
84.0k
108.7k
118.7k
129.1k
140.2k
149.3k
0
2
3
4
5
6
10
20
30
40
50
60
0
39
64
93
95
95
20
25
25
25
25
25
0
1
1
1
1
1
No. of Volunteers
20
30
40
50
60
70
Staff Satisfaction
70%
75%
80%
85%
85%
85%
Visitor Satisfaction
4.5
Stars
4.5
Stars
4.5
Stars
4.5
Stars
4.5
Stars
4.5
Stars
Conferences
Educational Visits
Venue Hire
Sailings
Online Retail
Income
£240.0k £281.5k £311.9k £341.3k
Net Surplus
(£342.0k)
£52.3k
£47.8k
£62.3k
£372.9 £396.1k
£63.7k
Notes
The ‘Visits’ total includes total number of entries through the
turnstile including school parties, wheelchairs users, facilities
hire and annual fishermen.
Staff satisfaction targets assume a baseline level of 70% is set
upon introduction of an agreed measure in year 2015/2016.
The visitor numbers are tracking above the projected 84.0k for
2015/16. However, projections for subsequent years have not
been adjusted to take into account this higher base-line.
3. Our History
Clevedon Pier was built between 1867 & 1869 and was opened on the
29th March 1869. It has 8 spans 100 feet long and 16 feet 6 inches
wide, with a pier head at the seaward end supporting a pagoda, two
flanking shelters and several lower level landing stages. It is the only
pier on the Bristol side of the channel where ships can
embark/disembark their passengers at any state of the tide.
£81.3k
Clevedon Pier is one of only 78 piers that were constructed around the
shores of the UK during the period 1854 to 1904. The Pier partially
collapsed under a load test in 1970 and subsequently the local
community saved it from demolition by successfully challenging the
local authority at a Public Inquiry.
After a period of active engagement by the community, the current
Clevedon Pier Trust Ltd (CPT) was formed in 1981 in order to repair
and rebuild the whole pier with a mandate to reinstate two missing
spans and refurbish the entire structure. In 1998 the name was
changed to ‘The Clevedon Pier and Heritage Trust Ltd’ (the Trust)
after the assets of the Victoria Cox Trust including a seafront building
known as ‘Waterloo House’ at No.4 the Beach were absorbed by the
CPT. The original CPT mandate was duly discharged and Clevedon
Pier (the Pier) is now an important tourist destination in the North
Somerset area. Approaching 90,000 people visit the Pier every year.
This includes 4,000 boat passengers and 750 anglers.
The Pier has been recognized as being of exceptional architectural
quality through its designation as a Grade 1 listed structure. In fact it
is the only fully operational Grade 1 listed pier in the country.
The Pier is owned by North Somerset Council and is leased to the
Trust on a long lease that currently has 68 years to run, on a
peppercorn rent. Maintenance of the Pier is an expensive undertaking.
Whilst the Trust has typically delivered an operational surplus of £25 £30k per annum from various commercial activities (mainly
admission charges) it has not been able fully cover the cost of major
planned long term maintenance, structural repairs and re-painting, and
the Trust has had to request major financial support from the
freeholder, North Somerset Council. The total cost averages out at
about £1m every 10 years. In 2012 a major maintenance and
repainting project on the main promenade of the Pier, which had not
been repainted since it was rebuilt in 1988, was completed at a cost of
£800,000.
In 2011 the Trust launched a major project to re-structure the business
and build a new visitors centre to secure the long term financial future
of the Pier. With most of the financing in place work on the new
visitors centre began in September 2014 and is scheduled to complete
by the end of 2015.
As part of the business re-structuring in July 2015 the existing
charitable trust converted its legal status into a charitable community
benefit society so that community shares can be offered to members of
the public. This structure will create a community led organisation to
manage the Pier operations and to take the Pier into the future. By
placing the ownership of the Trust in the hands of the local
community the long-term financial future of the Pier has a much
greater chance of success.
4. Development plans
To achieve the aim a major transformation of the pier operation is
being undertaken. This will improve the existing visitor experience
leading to a significant increase in visitor numbers, both repeat and
first time visitors. The increased income that this will generate will
enable the Pier to become financially self-sufficient and in a
sustainable way that will preserve the unique character of the Pier for
future generations.
! The physical transformation of the site will take place through
the provision of a range of new and upgraded facilities:
o Building a new visitor centre with full catering and
additional business use capability.
o A multi-functional room capable of seating 25 – 35
visitors. This room will be used for a wide range of
events including educational use, meetings, conferences,
private functions and small weddings.
o An eatery providing 22 covers (inside) and 20 covers
(outside). The external seating can be flexed to
accommodate more covers in good weather.
o An observation deck on the top floor. This will have
stunning views of the Severn Estuary and the Welsh
Coast.
o Fully accessible toilet facilities
o Upgrading the current Toll House to provide an
enhanced retail and ticketing area on the ground floor
and an interpretive gallery on the first floor.
o Upgrading the Pagoda at the seaward end of the Pier will
create an attractive ice-cream sundae bar that will be
open at appropriate times.
o Upgrading Waterloo House to improve the office base
for the Trust, create a training centre for volunteers and
staff on the ground floor and offices for commercial let
on the first floor.
See Appendix 1 for an artist’s impression of the developments.
! In order to further enhance the visitor experience other
developments taking place include:
o Recruitment of three members of staff.
o Improving the skills and competencies of Directors, staff
and volunteers.
o Increasing the Pier’s online presence through web based
retail sales and social media activity.
o Extension of the shop sold retail product line.
o A greater emphasis on community engagement.
Work on the structure and buildings is expected to have been
completed by the end of 2015. The total cost of the Project is
£2,231.5k. £1,853.5k has been raised through grants and gifts from
the Heritage Lottery Fund, the Coastal Communities Fund and
other providers, sponsors and benefactors. A total of £32.4k of the
funding already received will go towards the staff costs of the
Heritage and Outreach officer - all other costs are construction,
refit and professional fees which won’t be capitalised in the Pier
accounts.
Income
Heritage Lottery Fund
Coastal Communities Fund
Other secured grants and funding
Partner Fit out of Eatery and Pagoda
Community Shares
Total
£720.0k
£750.0k
£299.0k
£84.6k
£378.0k
£2,231.6k
Expenditure
Heritage Centre works
Construction
Fit Out
Professional fees
Other funding related costs
Total
£68.1k
£1,448.2k
£286.6k
£170.7k
£258.0k
£2,231.6k
£378.0k will be raised through a Community Share issue. We will
also be seeking local business sponsorship.
The Community Share Offer is open to members of the public who
have an interest in supporting the Pier. The Community Shares are
£1 each and there is a minimum investment requirement of £150.
Full terms and conditions of the Community Share Offer can be
found in the Community Share Offer document that is available at
www.clevedonpier.co.uk.
5. Products
The offer is primarily the provision of an excellent visitor experience
that includes three distinct product groups and a number of other non
categorised lines.
• Pier Entrance
The Pier opens 364 days per annum (closed on Christmas Day)
9am - 5:00pm weekdays and 9am – 6:00pm weekends (or
sunset if later) and Bank Holidays in the summer and 9am –
dusk in the winter.
This provides 4 income streams:
o Individual entrance – access to the Pier, interpretative
gallery, events and eatery.
o Day fishing – access to the Pier for fishing.
o Group tickets – for groups such as artists, musicians and
photographers.
o Education trips – this can be supported by a guide. This
will be developed to link with a range of topics within
the national curriculum.
• Retail Sales
o A range of souvenirs such as gifts and toys many of
which are unique to the Pier.
o Branded goods such as wall art and ceramics.
o Commission from the sale of boat tickets.
• Facilities/Room Hire
o A multi-functional room capable of seating 25 – 35
visitors with a full catering option. This room can be
used for a wide range of events including educational use,
meetings, conferences, private functions and weddings.
o Business rooms and offices to rent in Waterloo House.
o Annual fishing club – (paying an annual fee for use of
the Pier).
o Hire of the Pier for exclusive use.
• Other sources of income
o The catering in the restaurant and ice cream parlour will
be provided by Tiffin of Clevedon. A financial
contribution received from Tiffin will be related to the
overall number of visits to the Pier.
o The plaque scheme – receiving donations for plaques on
the Pier.
o Donations from organisations and individuals.
o Bequests.
6. Clevedon and The Pier
Clevedon is a Victorian seaside town in North Somerset overlooking
the Severn Estuary. The town, by Junction 20 of the M5, is just 13
miles from Bristol and 10 miles from Weston-Super-Mare with good
public bus links to both major towns.
It has a population of approximately 25,000. Of these almost 20% are
over the age of 65 years. 79% of residents aged between 16 and 64
years are in employment.
Looking more widely at the North Somerset area from data collected
on behalf of North Somerset Council by an independent consultancy
company (Global Tourism Solutions (UK) Ltd) it can be seen!that in
North Somerset over a 10 year period ‘Visitor Numbers’ went up by
79% and ‘Visitor Days’ went up by 61%. This data is available on:
www.n%somerset.gov.uk/leisure/tourism/pages/tourism.aspx!
They also have data that shows more than 50% of 'out of area' visitors
come from Bristol and that visitor numbers are, to a large extent,
driven by the weather.
Finally in terms of the Pier, from January to December 2014 there
were 86,351 visits.
For the bids to the Heritage Lottery Fund and the Coastal
Communities Fund in 2012 the following admissions data was
collected.
Visitor numbers have grown from 2002 (50,826) and reached a record
high of 89,645 (2011). This excludes: (1) School parties (799
pupils…some 15 education groups with more than one class visiting at
a time, from distances of up to one and half hours travel time). (2)
Fishermen 1,104 at £4/rod and £1.50 for each extra one (excluding
regular use by 200 members of the fishing club who contribute around
£10,000 per annum to Trust funds). (3) 611 wheelchair users (who
have free entry). (4) Annual passes (includes 99 pass sales but not the
actual usage which averages at 17 visits per annual pass holder per
year) and finally (5) boat passengers 4,287 (on the various sailings of
the PS Waverley and the MV Balmoral).
• 50% of visits are at weekends
• August is the busiest month
• 50% of visitors are adults and 30% are concessions
Research by the Trust at the time provided the data below:
Pier visitor
Survey 2011
2000
Respondents
Town centre
surveys 2011
60
Promenade
survey 2011
65
First visit to pier
45%
Local residents
9%
52%
Visiting family and
friends
Day trippers
14%
24%
On holiday
15%
40 – 65 years
71%
40%
Travelled by car
90%
74%
Visited the pier in the
last year
Knew about Heritage
centre
51%
100%
69%
46%
35%
85%
69%
7. Target Markets
7.1.
Entrance Fees
Pier visitors are likely to fall into 3 types of people:
o Older people with disposable incomes and are time rich
(A similar demographic to National Trust Membership).
o Empty Nesters – parents whose children have either left
home or are still living at home but are older teenagers
and young people who are financially independent.
o Young Professionals – aged under thirty-five, no
children and in work.
The visitors will be predominately day trippers drawn from
areas such as Portishead, Nailsea, Bristol and the M5 north
corridor up as far as Cheltenham (i.e. within a 1 hour journey
time), and then local residents (who have family and friends
visiting) or people on holiday locally.
• Competition
o Clevedon Court & Tyntesfield – nearby National Trust
properties.
o Clevedon sea front with pebbled beaches and a marine
lake, ornamental gardens and a Victorian bandstand.
Also a range of cafes and restaurants.
o Local walks including Poets Walk.
Although these have the potential to compete for Pier visitors
it is more likely that day trippers will visit more than one of
these attractions.
o Weston-Super-Mare – a seaside resort popular for
family holidays, there is also a Pier at Weston but it has
a very different offer from Clevedon Pier.
• Marketing channels
o Co-marketing with other local attractions and local
community groups such as the Civic Society.
o Working with Tiffin (catering partner) through their
loyalty card scheme.
o Improved online presence including Clevedon Pier
website and other websites such as North Somerset
Tourism.
o Social media; Facebook, Twitter, Flickr and Instagram.
o Local media – local press, TV and radio.
o Sponsors, including the Pier’s main sponsor Hawthorns,
Clevedon.
o Working through the Trust’s membership base.
o Local retail businesses.
o The National Pier Society and other partner societies.
o Coach touring companies.
7.2. Retail Sales
Retail sales will be made in 3 ways: (1) In the shop accessed
from the Pier (2) In the shop accessed from the street and (3)
Online.
The customers segment into 2 groups: local residents and
visitors to Clevedon. The retail offer will appeal to both of
these audiences through the range of products available:
Pier Visitors
Shop only
Online
Local residents
High end artisan goods
‘Clevedon Pier’ bespoke items
such as branded ceramics.
High end artisan goods
‘Clevedon Pier’ bespoke items
such as wall-art.
More likely to use the shop than
online.
Visitors to Clevedon
Mementos.
e.g. Ice creams
Drinks and crabbing
buckets.
e.g. Heritage goods,
Victoriana memorabilia and
high quality pictures of the
Pier.
• Competition
Clevedon’s Hill Road offers a selection of unique locally
owned shops for an afternoon tea and browsing the shops just
a ten minutes walk from the Pier. These will compete with
high-end artisan goods and mementos. The retail outlet will
differentiate its goods through bespoke Pier specific items.
The Triangle, centred on a Victorian Clock Tower in the
centre of Clevedon offers well known shopping chains and
supermarkets.
Local supermarkets and eateries along the sea front for drinks
and snacks.
• Marketing channels
o Online retail sales portal.
o Improved online presence through social media.
o Word of mouth.
o On street sandwich boards.
o Social media; Facebook, Twitter, Instagram.
o Working through the Trust’s membership base.
7.3. Venue and facilities hire
Although there are targets to increase the usage of the venue and
facilities over the five years the majority of income is from the
rental of offices in Waterloo House. Tenants have already been
secured for all available space. It will be the responsibility of the
Business Manager to develop other venue and facilities hire
revenue streams.
The new meeting room on the lower floor of the Visitor Centre
will be available for hire and the income attributable to this is
included in the Pier’s financial projections.
7.4.
Educational Group Visits
The current focus is on working with schools which currently
bring groups to the Pier to encourage them to increase the
number of visits each year. In the future the offering will be
marketed through (1) Existing schools, youth clubs, and local
community groups such as scouts and gym clubs (2) Working
through the Trust’s membership base (3) Word of mouth (4)
Education publications and (5) Other local attractions.
There are seven primary schools in Clevedon all of which have
expressed a wish to work more closely with the Pier.
There are approximately ninety primary schools in Bristol and
fifty in the Gloucester & Cheltenham area. Considering the
competitive environment, there are many attractions for school
visits. Our offer will be closely aligned with the national
curriculum in areas such as history, science and the environment.
8. Operations
The operations are delivered through a combination of staff,
volunteers and a catering partner. The staff team has been restructured
to create three new key management positions. The recruitment for
these posts is currently underway.
• Business Manager
Responsible for the development and management of all aspects
of the Pier operation enabling it to become financially selfsufficient, sustainable for the future and established as one of the
foremost tourist attractions in North Somerset.
• Visitor Experience Manager
Responsible for managing and expanding all income stream
targets related to the operation of the Pier, this includes visitor
numbers, shop income, Fishing Club income, sailing trips,
donations and bequests and Pier hire.
•
Outreach and Heritage Officer
Responsible for developing and implementing Interpretive and
Activity Plan proposals for visitors, local people, formal and
informal learners. This includes developing the permanent
interpretive exhibition, establishing an interpretive events and
activities programme, leading and supporting education and
lifelong learning activities, devising an outreach programme
and working with volunteers.
See Appendix 2 for full job descriptions for these posts.
• Supporting these key roles are 4 other existing paid staff roles –
1 full time office administrator and 3 retail/front of house
assistants. The costs of the new posts will be covered by the
increased revenue generated by the development of the Pier
except for the Outreach & Heritage Officer where the Heritage
Lottery Fund is making a contribution of £16,200 a year for the
first 2 years.
• In addition the team of volunteers will be significantly
increased. The target will be to recruit up to 50 volunteers by
the end of Year 3.
• The operational base of the Trust is Waterloo House which has
been upgraded to provide improved office space and training
facilities for the volunteers and staff.
•
Tiffin has been selected as the catering partner. They will run
the eatery and the ice-cream sundae bar in the Pagoda. This
selection was made after a competitive tender process and
comprehensive due diligence.
Tiffin already run a high quality eatery near to the Pier which
consistently offers the image and quality that will be associated
with the pier. Their emphasis is on a higher than average staff
to customer ratio which eases the throughput of customers in
the café. They also have a separate local food preparation
space that is used for catering for events and food preparation.
This will be invaluable with the restricted space available on
the Pier.
Tiffin have a long association with the Pier and are committed
to the local Clevedon community. They deliver a quality
service, very much in keeping with the experience that the Pier
offers and wants to continue to build.
• The target organisational design is illustrated below.
Administrator'
Business''
Manager'
Heritage'and'
Outreach'Officer'
Visitor'Experience'
Manager'
Volunteers'
Retail/Front'of''
House'Staff'
Volunteers'
Tiffin'
9. Clevedon Pier and Heritage Trust Limited
The trust is a Charitable Community Benefit Society - a democratic
social enterprise with a large membership base. This structure creates
a community led organisation to manage the Pier. It is registered with
the Financial Conduct Authority and will enjoy exempt charitable
status from HMRC.
The rules of the Trust state that its purpose is ‘the preservation,
protection, restoration and improvement of buildings and structures of
historic or architectural merit for the public benefit of Clevedon Pier,
and the promotion of education of the public in the history and
heritage of Clevedon and its’ Pier’.
The membership base puts the future of the Grade 1 listed Pier in the
hands of the local community and other Pier supporters – the people
who can be trusted to care about it the way it needs to be cared for.
Members own and control the organisation: at the Annual General
Meeting they elect the Directors to the Board, can stand for election to
the Board and can hold the Board to account. The Board is responsible
for the management of Clevedon Pier and Heritage Trust Limited for
community benefit. They must at all times act in the best interest of
the organisation and are required to declare any external interest that
may be in conflict with their role on the Board.
Membership is open to individuals over the age of 16, corporate
bodies, and associations who support the objectives and is on a one
member, one vote basis irrespective of shareholding. Membership is
subject to a minimum shareholding set at £150 although individuals
can hold any value of shares up to a maximum value of £80,000.
There is no maximum number of shares that can be held by an
Industrial and Provident Society, Community Benefit Society or Cooperative Society. Shares have a nominal value of £1.
• Membership entitlements
o Receive the accounts and annual report and attend the AGM
where the Directors are held accountable for their stewardship
of the Pier during the previous year.
o Vote for the Directors of the Board and on other matters (on a
one member, one vote irrespective of shareholding basis).
o Stand for election as a Director. Directors must be aged over
eighteen.
o Free Pier access.
• Members are also encouraged to be actively involved in the
future of the Pier including:
o Ten per cent discount at Tiffin.
o Opportunities to attend exclusive members’ events on the Pier
and in the eatery.
o Regular “Member” communications covering Pier news and
forthcoming attractions.
o Early notice of any ‘big news’ items.
o Open days covering the back office workings.
o Active involvement as volunteer or Director.
o Opportunities to shape the agenda through direct contact with
the Directors.
The continued engagement of the members in the medium to long
term adds strength to the business model as they will be customers,
supporters, volunteers and ambassadors for the Trust creating the
virtuous circle of community investment.
• The constitution and governance
A full copy of the rules of Clevedon Pier and Heritage Trust
Limited can be found at www.clevedonpier.co.uk.
See Appendix 3 for details of the Directors and advisors to the
Trust.
Clevedon Pier and Heritage Trust Limited leases the Pier from
North Somerset Council on a long term full repairing lease that
currently has 68 years to run. The Trust is responsible for meeting
the costs of all major planned long term maintenance, structural
repairs and re-painting. The Trust also owns Waterloo House, No.
4 The Beach, Clevedon.
Clevedon Pier and Heritage Company Ltd is a 100% owned
subsidiary of the Trust and is the trading company for the Trust.
Clevedon Pier and Heritage Company Ltd employs all the staff and
volunteers and is responsible for the day to day operation of the
Pier, which includes the generation of profits from all the trading
activities offered to the public.
All operating surpluses generated by the subsidiary are gifted back
to the Trust annually in line with HMRC guidelines.
The Directors of the subsidiary are the same as those for the Trust.
A schematic of the Trust’s governance is shown below:
44444444
Clevedon Pier and Heritage Trust Limited
The Members
Directors
Clevedon Pier & Heritage Company Ltd
Directors
Staff and Volunteers
10. The Community Share Offer
• Background
To raise the remaining £378,000 for the new Visitor Centre
The Clevedon Pier and Heritage Trust Limited will hold a
Community Share issue.
Community Shares refers to the sale of Community Shares
in enterprises serving a community purpose. This type of
investment has been used to finance shops, pubs, community
buildings, renewable energy initiatives, local food schemes,
along with a host of other community based ventures. More
information about community shares can be found at
http://communityshares.org.uk/.
The Community Share Offer Document has been produced
which outlines all the aspects of the Community Share Offer.
It details why the money is needed, what it will be spent on
and how to apply. It can be downloaded via
www.clevedonpier.co.uk
• Minimum Share Holding
The minimum shareholding is 150, each Community Share
has a value of £1. It has been set at this level to encourage as
many of the local population and Pier supporters to join. The
maximum shareholding is 80,000. Application forms are
available as part of the Community Share Offer Document.
• Tax Advantages
We have applied for advance approval for Social Investment
Tax Relief (SITR) from HMRC. This means that for the first
£240.0k of share applications received where the applicant
has indicated that they wish to take up this tax relief the
shareholding may qualify for tax relief from HMRC which is
currently set at 30%. This maximum of around €344.8e
(broadly speaking £240.0k) over three years is because of the
rules on state aid. We will provide you with the relevant
forms from HMRC but it is your responsibility to claim the
tax relief due to you from HMRC.
Potential members should take their own advice as to
whether they are eligible for SITR tax relief. To qualify for
SITR, the investor (or an associate) must not at any time
between the date of incorporation of the social enterprise and
three years from the date of investment have been an
employee, a partner, a trustee or a remunerated director of
Clevedon Pier and Heritage Trust, the subsidiary of the
Trust, partner or a linked company of the Trust.
More information on SITR can be found at
https://www.gov.uk/government/collections/socialinvestment-tax-relief
• The Amount Required
£378.0k needs to be raised from the Community Share Offer
to complete the building work. If it is not possible to raise
that amount a loan facility of up to £400.0k with The
Architectural Heritage Fund has been arranged which will be
drawn down to meet any shortfall in financing completion of
the work. Financial projections that show minimum take up
of the share offer and use of the loan facility can be found at
appendix 7.
• The Time Period for Investing
The Community Share Offer will open on 14th August 2015
for three months. If the Community Share Offer is
oversubscribed it will be closed once it reaches £500.0k.
• How The Money Will Be Used
The money raised by the Community Share issue will only
be used for the work to enhance the Pier and Waterloo
House. The running costs of the Trust and the subsidiary are
derived through trading activity.
Any amounts raised over the optimum target £378.0k will be
used for additional enhancements to the Pier such as
additional interpretation along the Pier, upgrading the
lighting on the Pier and upgrading the water supply to serve
the Pier head and ships calling at the Pier.
11. Community Engagement Strategy
• Background
Over the course of the last nine months the Directors have
been consulting with Pier visitors and local community
groups to identify the types of individual who are likely to
buy Community Shares. It is evident that the majority of
prospective shareholders are likely to have visited the Pier.
Many will be local and most will have an interest in history
and heritage.
• Planning and Execution
In order to ensure that the Community Share Offer brings in
sufficient numbers of applications, a detailed marketing plan
has been put together - see Appendix 4 ‘Marketing &
Engagement Plan’. This plan covers the work needing to be
done prior to the Community Share issue, the activities that
will be required to support the launch and the continuing
effort that will be required in order to maintain a flow of
applications over a period of months afterwards.
There are five schedules of marketing activity in the plan.
Each is orientated towards a particular group of prospects
although a number of activities are common to all groups.
The biggest opportunity lies with individuals who have
supported the Pier in the past. This population includes
people who, for example, have sponsored plaques. It also
includes a number of very wealthy benefactors.
Other target populations include members of local
community groups, national special interest organisations
and the owners and customers of local businesses. Apart
from the specific groups already mentioned, a general
campaign will be undertaken for the population at large. In
respect of this final point, mailing and media activity will be
aimed at our target catchment - North Somerset, South
Gloucestershire and Bristol West.
Since defining the marketing approach contact details for
people who have said that they are interested in buying
Community Shares have been gathered. This prospect list
has over 400 names and it is envisaged that it will exceed
500 by the launch of the Community Share Offer. Based on
an average of investment of £200 between 2,000 and 2,500
members will be needed to reach the maximum target.
The marketing plan is built around a spike of activity during
launch week so as to maximize impact, followed by
sustained reinforcement activity until the target is reached. In
launch week over 15,000 targeted letters and emails will be
sent, advertorials placed in a range of publications and the
offer made available through third party promotion. Over
fifty third party organisations and businesses are ready to
market the offer.
Sponsors and business partners will play an active role. For
example, an open day at premises on the beachfront run by
the primary sponsor (Hawthorns Retirement Home) and
access to the members of a third party card loyalty scheme
managed by our catering partner (The Tiffin Eatery).
In addition to mailings, press, leaflets and a number of
different types of letter, the marketing plan places a heavy
emphasis on the online channel. Online applications will be
actively encouraged and traffic will be directed towards the
chosen fulfillment provider (Ethex) via the web site and
social media. It will also be possible to use paper
applications available locally in Clevedon.
To support the more than 60 discreet activities in the plan,
Directors, staff and volunteers are trained up to support the
promotion of the Community Share Offer. During the first
and second stages of the Pier’s launch plan two free access
periods will be provided so that the Pier to create
opportunities to approach members of the public who have
not been reached via mail or online.
12. Finances
• Historic Trading Account
The latest consolidated annual accounts together with the
previous three years are summarised below:
2011/12
2012/13
2013/14
2014/15
£
£
£
687,601
201,477
889,078
20,000
223,768
243,768
20,000
197,767
217,767
40,493
31,940
45,980
23,224
14,639
801,230
4,953
1,234
152,850 158,341 158,809
207,850 991,511 209,742
26,686 (102,433) 34,026
152,645
177,103
40,664
34,095
107,614
127,063
280,400
515,077
79,871
127,063
314,495
521,429
Income
£
Restricted funds
(maintenance & insurance) 20,000
Unrestricted funds
214,536
Total
234,536
Expenditure
Cost of retail sales
Pier restoration and
maintenance
Management and
administration
Total
Surplus/(Deficit)
Revaluation
Balance Sheet Extract
General Fund
Designated Fund
Revaluation Reserve
5,181
127,063
280,400
412,643
39,207
127,063
280,400
446,670
Notes
The 2014/15 accounts are currently being audited.
The significant variation in income and expenditure shown
in 2012/13 is as a result of a grant received from North
Somerset Council to part fund planned long term
maintenance works which were carried out in that year.
• Forecast for 2015/16 (Year 0)
Income
Restricted funds (maintenance & insurance)
Unrestricted funds
Total
£20,000
£220,000
£240,000
Expenditure
Cost of retail sales
Management and administration
Total
£25,000
£175,000
£200,000
Surplus
£40,000
Balance Sheet Funding
General Fund (Profit Reserves)
Designated Heritage Centre Fund
Revaluation Reserve
Community Shares
£119,871
£127,063
£314,495
£378,000
£939,429
• Financial Projections
The financial projections summarised shown below
and in Appendices 7 are based on the opening balance
sheet from the above forecast for Year 0 and the
detailed assumptions listed in Appendix 6. These
include:
An initial 7% increase in number of visitors plus
development of new income streams, the task of
which is allocated to the new Business Manager.
Prices and costs are inflated annually, based on HM
Treasury's collation of projected CPI (Consumer Price
Index).
The annual maintenance cost of the Pier is assumed to
be £10,000 plus inflation.
Members, who are entitled to receive free admission
to the pier, are factored into the visitor admissions
income in the finance assumptions under non-
chargeable admissions. Along with annual passholders, the members' visits to the pier are included in
the total visitor numbers from which the premium
payment from the catering partner is calculated.
All grants income is used in respect of the pier
development – these have been netted against each
other in the balance sheet projections.
The following projections are based on a full take up of
the community share offer (£378,000) and also that:
These shares are bought back at £20,000 per year,
starting in year 4
Interest at 2% will be paid on the shares from year 3
onwards.
Long-term maintenance of £150,000 per year has been
included in years 6, 7 and 8.
Under these assumptions at the end of 10 years, there is a
cash balance of £549,716 and an annual operational profit
(prior to any expenditure on long term pier repairs and
interest on shares) of over £150,000. This is above the target
£100,000 surplus required to enable the Trust to be selffinancing.
The plan assumes a minimum uptake of £50,000 via the
community share offer which will result in:
• A replacement loan (already secured through
Architectural Heritage Fund) at 6% interest will
be drawn down
• Buy back of shares will be delayed until year 6
• Long term pier maintenance will be delayed
until year 9.
Under this scenario the cash balance at the end of year 10
will be £569,301 and there will be an annual operational
surplus of over £150,000. This means that the Trust will be
able to achieve its target of being self-financing within 10
years but long-term maintenance of the pier will have to be
delayed until the end of the years 9 and 10. The detailed
numbers in this regard are shown in Appendix 7.
13. Risk
A complete Risk Register is shown as Appendix 5.!!
Appendix 1
Development*Plans*– !The$Vision"
Appendix 2 – Job Descriptions
Pier Business Manager – Clevedon Pier and Heritage Trust Ltd
Job Description
Job Title:
Pier Business Manager
Location of Job:
No 4 The Beach - Clevedon
Post holder reports to:
Accountable to the Board of Directors and reporting to the Chairman
of Clevedon Pier & Heritage Trust
Hours of Work:
Flexible working pattern based on 37.5 hour week, will include
evenings and weekends
Purpose of the Job:
To develop and manage all aspects of the Pier operation enabling it to become financially selfsufficient, sustainable for the future and established as one of the foremost tourist attractions in
North Somerset. This includes agreeing and delivering the annual business plan, creating and
delivering a strategy for future business development, leading and developing staff into a highly
motivated workforce that delivers an excellent customer experience and raising the profile of the
Pier.
Main Duties:
Responsibility for the development, agreement and implementation of the annual business plan for
the day-to-day operation of the Pier, in line with the objectives of the Trust's Activity Plan.
Responsibility for the development, agreement and delivery of a strategy for business development
that is innovative and complements the objectives of the Trust's Activity Plan and is in line with the
annual business plan.
Identify, build and maintain business relationships with key suppliers to, and partners of, the Trust,
in order to support the delivery of both the annual business plan and business development plan.
Working proactively with our catering partner to generate more revenue for both parties.
Manage and deliver the ongoing building maintenance programme for both the Grade I listed Pier
and Grade II listed No 4 The Beach.
Create and lead a highly motivated team of staff working for the Trust, both paid staff and volunteer
staff, who are trained and skilled across all aspects of the Pier's operation.
Lead negotiations of key account contracts as appropriate to enable successful delivery of the
annual business plan.
Responsibility for the development and agreement of a strategy of educational programmes that will
support the Trust's aim to become one of the foremost attractions in North Somerset.
Responsibility for the development and implementation of a marketing strategy that encompasses
all aspects of the Pier operation.
Responsibility for the development and implementation of an effective Communications and Public
Relations strategy for all key stakeholders –The Board of Directors, shareholders, staff, public,
stakeholders etc. that will raise the Trust's profile regionally, nationally and internationally.
Responsibility for the development and implementation of an effective management information
structure reflecting the full range of the Pier's operation, to enable measurement of performance
against targets and inform development of future strategies.
With the support of the Outreach, Community and Heritage Officer and the Visitor Experience
Manager develop a Volunteer Strategy which provides the framework and policies for all volunteer
activity in the project taking cognisance of best practice around the UK e.g. the National Trust,
Volunteer Centre.
Establish a volunteer agreement which clearly set out what the Trust will offer the volunteer and
what the Trust expects the volunteer to provide in return.
To devise a set of volunteering standards, in liaison with the Trust’s Health and Safety Adviser and
other specialists, and ensure they are adhered to, and kept up to date, reflecting legislation.
To provide essential human resource services to all volunteers and ensure they feel an integral part
of the overall project team.
Effectively implement any changes to the Pier operation introduced by the Board of Directors,
legislation, local government policy etc., and to recommend, agree and implement any changes that
will enhance the operation of the Pier operation.
Ensure the business operates compliantly with H&S, legal requirements to minimise the risk of
litigation, and maintain the highest standards of safety and welfare for staff and the public.
Discharge the duties of Company Secretary for Clevedon Pier and Heritage Trust Ltd.
Measures
Business Plan in place and agreed with the Board of Directors
Business Development Plan in place and agreed with the Board of Directors
Financials delivered to target
Internal and external feedback
Turnover of staff, both paid and voluntary
Delivery of maintenance programmes against deadlines.
Personal Skills and Experience
Degree level educational standard, or suitable equivalent experience.
Minimum 5 years working in the Charity or voluntary sector, with 3 years at management level.
Previous experience of working in heritage and/or conservation management
Strong change management skills
Track record of delivering against financial targets, including experience of delivering fundraising
strategies
Track record of developing and delivering business strategies
Strong communications skills
Networking skills
Negotiation skills
Presentation skills
Team working skills
ICT skills
Dimensions
Annual turnover £300k + per annum
7 Direct reports
13 paid staff
75 volunteers
Visitor nos. of 100k+ per annum
12 Directors
1500 shareholders
Job Title: Heritage, Community and Outreach Officer
(4 Days per week rotating shift basis – Including weekends and Bank Holidays)
Location of Job: Waterloo House – Clevedon
Post holder reports to: Business Manager
Purpose of the Job:
Individually and collectively (with the Visitor Experience Manager) responsible for the smooth
running of all pier operations on a day-to-day basis.
To develop and implement the Interpretive and Activity Plan proposals for visitors, local people and
formal and informal learners. This includes developing, in collaboration with the Board of
Directors and Pier staff, the permanent interpretive exhibition, establishing an interpretive events
and activities programme, leading and supporting education and lifelong learning activities,
devising an outreach programme and working with volunteers to bring the site alive.
Main Duties
With the aid of the Visitor Experience Manager, develop a process, manning and communications
strategy which allows the Pier to operate at full potential 7 Days per week (including extended
hours during the summer period, weekends and Bank Holidays).
To develop learning and interpretation resources for Clevedon Pier, the foreshore and promenade,
including commissioning a suitably qualified education consultant to prepare a range of educational
resources (working closely with a Teacher Advisory Group) which can be downloaded off the
website
To oversee the implementation of the permanent interpretive exhibition in Clevedon Pier, in the
Toll House, Visitor Centre and along the pier (and subsequently temporary exhibitions from time to
time)
To prepare and implement on site interpretive and learning programmes including events and
activities to engage people of all ages
To develop and deliver lifelong learning and heritage skills training opportunities through links with
Weston College and other training providers
To promote and market Clevedon Pier as an exemplar education venue including offering ‘theme
weeks’ and the use of the multi-function meeting room as a learning ‘hub’
To develop an outreach programme to engage schools, communities, youth, the elderly, minority
groups and surrounding village communities who would otherwise not visit Clevedon Pier
including offering talks, handling sessions and reminiscence days etc.
To act as the Trust’s principal focus for liaison with other bodies concerned with heritage
volunteering
To establish and manage a volunteer base in No.4 The Beach and use this as the primary base for
volunteer training except for training ‘on the job
Together with the Visitor Experience Manager, undertake a volunteer survey involving all the
Trust’s existing volunteers to elicit their views and opinions on the existing volunteer operation, its
strengths and weaknesses and how best to grow the operation
Undertake a needs analysis to clearly establish the range of skills the Trust require in respect of the
Educational and Learning aspects of the operation of the site
As and where appropriate, undertake a recruitment campaign and selection process so the Trust
matches skills with requirements: to repeat and refresh this process as required to ensure the Trust
always has the level of volunteers (and the skills) it requires
To develop a programme of induction and training to ensure volunteers in all aspects of the project
have the skills and equipment necessary to carry out the job
To ensure all volunteers involved with children and young people are CRB checked
To maintain an inventory of equipment used to support volunteering activity and ensure all relevant
mandatory and Trust standards are complied with
To develop with volunteers a community archive of photographs and people’s memories of
Clevedon Pier (including recalling the memories and photographs of family and friends deceased)
To train and manage a team of education volunteers and sessional workers to lead and support
education and interpretive activities
To train and manage a team of interpretive guides to lead regular tours of the pier and deliver an
innovative programme of events and activities at weekends and during school holidays ‘bringing
the pier alive’ for visitors and local people
To develop a Loans Box Scheme to support educational visits
To evaluate the effectiveness of the learning and interpretive programmes offered at Clevedon Pier
To network with other learning and interpretive providers in Clevedon and its’ catchment including
Curzon Cinema, Marine Lake, Clevedon Court and Tyntesfield
To maintain accurate records of all interpretive and education activities and provide reports as
required
To maintain high standards of safety and welfare for learners, supporting volunteers, teachers and
the general public
To plan and run regular INSET courses to raise awareness of the potential of the Pier for curricula
based and cross-curricula study
To attend training courses as appropriate
To continually refresh and enhance the interpretive provision (including temporary exhibitions)
To work closely with other Pier staff and the Board of Directors to maximise the educational and
interpretive potential of the site
Person Specification
Essential
Qualification in heritage, environmental and/or cultural studies
Knowledge and understanding of, and experience in, interpretation and education
Communication skills
Teamworking skills
ICT skills
Desirable
Experience of out of classroom teaching and learning techniques
Knowledge and understanding of managing volunteer staff
Knowledge and understanding of working in the voluntary sector
Job Title: Visitor Experience Manager
(4 Days per week rotating shift basis – Including weekends and Bank Holidays)
Location of Job: Clevedon Pier
Post holder reports to: Pier Business Manager
Purpose of the Job:
Individually and collectively (with the Heritage and Outreach Officer) responsible for the smooth
running of all pier operations on a day-to-day basis.
To develop and manage the day-to-day retail operation of the Pier supporting its aim of becoming
one of the foremost tourist attractions in North Somerset by providing excellent customer
experience. This includes agreeing and delivering a targeted increase in retail sales and ticketing,
and managing a team of paid staff and volunteers who will deliver an excellent customer experience
to visitors.
Main Duties
With the aid of the Heritage and Outreach Officer, develop a process, manning and communications
strategy which allows the Pier to operate at full potential 7 Days per week (including extended
hours during the summer period, weekends and Bank Holidays).
Manage and deliver all income stream targets related to the operation of the Pier. This includes
visitor numbers, shop income, Fishing Club income, sailing trips, donations and bequests, pier hire
etc.
Identify opportunities to expand the retail operation of the Pier and implement agreed strategies to
target.
Develop and maintain strong business relationships with key suppliers to, and partners of, the Pier
to maximise business opportunities and ensure income stream targets are met, e.g. Local authorities,
other statutory organisations, shipping companies, similar pier trusts etc.
Identify maintenance and safety issues for the Pier and recommend and implement appropriate
remedial action.
Implement reporting systems that report performance of the retail operation against targets, and help
inform future decision making of the Board of Directors.
Lead and manage a team of trained and skilled staff in the delivery of both an excellent customer
experience and the annual business plan as it relates to the retail operation.
Identify and implement training and development strategies for staff in the retail operation that
supports the aim of providing an excellent customer experience.
Coordinate and implement to target the publicity and marketing strategies for the Pier.
Work with other members of the management team to ensure that the Pier operation is consistent
with and complementary to other parts of the Trust operation.
Together with the Heritage, Outreach and Community Officer, undertake a volunteer survey
involving all the Trust’s existing volunteers to elicit their views and opinions on the existing
volunteer operation, its strengths and weaknesses and how best to grow the operation
To undertake a needs analysis to clearly establish the range of skills the Trust require in respect of
the Commercial aspects of the operation of the site
As and where appropriate, undertake a recruitment campaign and selection process so the Trust
matches skills with requirements: to repeat and refresh this process as required to ensure the Trust
always has the level of volunteers (and the skills) it requires
To develop a programme of induction and training to ensure volunteers in all aspects of the project
have the skills and equipment necessary to carry out the job
Ensure the Pier operates compliantly with all legal and Health and Safety requirements to minimise
the risk of litigation, and maintain the highest standards of safety and welfare for staff and the
public.
Implement to target any changes to the Pier operation introduced by the Board of Directors,
legislation, local government policy etc.
Measures
Personal goals
Financials delivered to target
Internal and external feedback
Turnover of staff, both paid and voluntary
Delivery of maintenance programmes against deadlines.
Personal Skills and Experience
Degree level educational standard, or suitable equivalent experience
Minimum 3years working in the Charity or voluntary sector.
Previous experience of working in the heritage and / or conservation management
Track record of delivering against financial targets
Communication skills
Networking skills
Negotiation skills
Presentation skills
Team working skills
ICT skills
Appendix 3
Directors and Advisers to the Trust:
Directors:
Rob Ainsworth. A Chartered Accountant who was a PLC Finance Director for 20
years before establishing his own Interim Executive business supporting UK and USA
PLCs and Private Equity clients.
Stephen Beggs. A chartered Civil & Structured Engineer involved with pier restoration
works since 1995. Proud to be part of a team safeguarding this beautiful structure towards its
150th year.
Peter Cawley. Managing Director of a locally based national engineering enterprise with
extensive board level Operational experience in the manufacturing sector
Phil Curme. A distribution channel specialist with a track record of delivering large-scale
transformational change programmes in the Financial Services sector.
Ann Hughes. Teacher, musician and education manager in UK and abroad for many years
and now International Development Manager for a school photography company.
Matthew Hugget, A qualified employment lawyer who specialises in providing advice and
guidance to many different types of organisations on employment law and HR issues.
Colin Searing. A senior business leader with particular knowledge of running large scale
Operations functions for FTSE 100 enterprises.
Anita Sims. Architect & former Conservation Officer with a long history of senior level
involvement in charitable arts projects, registered Blue Badge Guide.
Simon Talbot Ponsonby (Chairman). A Chartered Civil Engineer with extensive experience
in running both multi-disciplinary large-scale strategic projects, and, through his long
association with the Pier, running charities.
Tim Vignoles. Extensive international experience in Production and Distribution for film
and TV and most recently ran a pre-eminent specialist executive search agency.
Jeff Walker. A specialist in operational risk with extensive experience in the oil and gas
industry. More recently built a successful consultancy in health and safety advice.
Advisers to the Trust:
Colin Pearson – Chartered Accountant with extensive experience in industry and commerce
and business ownership.
South West Co-operative Support (www.swcs.coop) – providing external consultancy
support for the conversion to a community benefit society, business planning and for the
Community Share Offer launch.
Co-operatives UK (www.uk.coop) (including the Community shares Unit) – providing
external support including the conversion to a community benefit society, exempt charitable
status and SITR tax relief.
Lindley Johnstone Solicitors Limited (www.lindleys.net) - Tom Williams who advises on
commercial matters, including the conversion from a limited company and the terms of the
Community Share Offer and Mark Beaumont and Helen Brewer for commercial property
advice.
Appendix)4)
Community)Share)Offer)
Marke3ng)&)Engagement)Plan)
August)2015))
Final)Version)
1)
Contents)
•  The)Objec3ve)
•  Target)Groups)
–  An)overview)of)the)marke3ng)approach.)
•  High)Level)Ac3vity)Timeline)
–  The)phasing)of)key)ac3vi3es.)
•  Detailed)Timeline)
–  Prepara3on)and)Tes3ng.)
–  Launch)Week.)
–  Reinforcement)Timeline.)
•  Schedules)
– 
– 
– 
– 
– 
– 
Sales)outlets.)
Partners.)
Media.)
Readiness)criteria.)
Flyers,)brochures)&)presenta3on)material.)
LeTers)&)emails.)
1
2
3
4
5
6
2)
Objec3ve)
This)plan)describes)the)marke3ng)ac3vity)required)to)support)a)
£500,000)Community)Share)Offer)due)to)be)launched)by)Clevedon)
Pier)&)Heritage)Trust)Ltd)on)14th)August)2015.)Shares)will)be)£1)
each)with)a)minimum)purchase)of)£150)per)person.)The)ini3al)Offer)
will)be)open)for)a)period)of)three)months.)
)
)
)
3)
Target)Groups)
Overview)of)Marke3ng)Approach)
1.  Individuals)who)have)
Registered)an)
interest.)
2.  ‘Friends)of)the)Pier’)
who)have)not)
registered)an)
interest.)
3.  Partners)who)have)
eligible)memberships)or)
client)bases)irrespec3ve)
of)whether)those)
members)or)clients)have)
registered)an)interest.)
4.  Na3onal)individuals)
and)organisa3ons)
who)may)be)
interested.)
5.  Everyone)else.)
Notes%
High%Net%Worth%
Individuals%
)
1.  Pre%Launch%Week.%Holding)email)and)leTer)(personal)
saluta3on).)
2.  Launch%Week%&%Beyond.)Email)or)leTer)offering)shares)in)
Launch)Week.))Chaser)four)weeks)later)where)an)applica3on)
has)not)been)forthcoming)(personal)saluta3on).)
As)per)basic)treatment)
plus)face)to)face)or)
telephone)contact.)Also)
personalisa3on)of)
leTers.)
1.  Launch%Week%&%Beyond.%Email)or)leTer)offering)shares)during)
Launch)Week)(personal)saluta3on).)No)chaser.%
As)per)basic)treatment)
plus)face)to)face)or)
telephone)contact.)Also)
personalisa3on)of)
leTers.)
1.  Pre%Launch%Week.)Iden3fy)prospec3ve)partners)and)seek))
their)co_opera3on.))
2.  Launch%Week%&%Beyond.%Generic)email)or)leTer)offering)
shares)in)Launch)Week)sent)by)partner)(generic)saluta3on).%
As)per)basic)approach.)
1.  Pre%Launch%Week.%Iden3fy)prospec3ve)partners)and)seek))their)
co_opera3on.)%
2.  Launch%Week%&%Beyond.%Offer)of)shares)through)online)
(including)social)media).%
As)per)basic)approach.)
1.  Pre%Launch%Week.%)Media)and)profiling)aimed)at)more)
registra3ons.)
2.  Launch%Week%&%Beyond.%Offer)of)shares)through)leaflets)and)
adverts.))
•  Friends)of)the)Pier)are)supporters)who)may)have)donated)in)the)past.)Annual)pass)holders)are)included)in)this)category.)
•  Categories)1)and)2)will)be)mutually)exclusive.)
•  Partners)will)include)clubs)and)socie3es,)local)businesses)and)na3onal)organisa3ons.)
As)per)basic)approach.)
High)Level)Ac3vity)Flow)
Summary)of)the)phasing)of)key)ac3vi3es)
Prepara3on)
•  Iden3fying)and)
logging)warm)
prospects)through)
all)channels)
including)the)media.)
•  Consolida3ng,)
categorizing)and)de_
duplica3ng)data.)
•  Preparing)text)for)
adverts)and)
communica3ons.)
•  Working)with)
partners)and)
aligning)marke3ng)
with)master)plan.)
•  Agree)lead)3mes)
and)sign)off)for)all)
communica3ons.)
•  Iden3fy)resources)
and)training)needs)
for)this)plan.)
Launch)
Tes3ng)
Reinforcement)
•  Web)site)ready)
and)online)
applica3on)
process)tested.)
•  Call)to)ac3on)on)
web)site)and)
online)applica3on)
process)goes)live.)
•  Management)
Informa3on)
issued)and)
progress)towards)
target)monitored.)
•  All)cri3cal)path)
deliverables)ready)
for)Launch)week.)
•  Launch)
communica3ons)
to)stakeholders)
(including)
tradi3onal)and)
social)media).)
)
•  Launch)week)
mailings)and)
emails))sent.)
•  Run)rate)to)be)
maintained)/))
increased)through)
addi3onal)
mailings)and,)if)
necessary,)
supplementary)
adver3sing.)
)
•  Communica3ons)
wriTen,)signed)off)
and)scheduled.)
•  All)required)
resources)
including)staff,)
volunteers)and)
Directors)trained)
and)in)place)for)
Launch.)
•  Run)facilitated)
sessions)to)ensure)
regulatory)
compliance.)
)
•  All)staff,)
volunteers)and)
Directors)totally)
focused)on)selling)
Community)
Shares.)
•  Stakeholders)
(including)
tradi3onal)and)
social)media))
updated.)
5)
Prepara3on)and)Tes3ng))_)Time)Line)
Week)
W/C)23/6)
Week)
W/C)30/6)
Week)
W/C)6/7)
Week)
Week)
W/C)13/7) W/C)20/7)
Week)
W/C)27/7)
Week)
W/C)3/8)
Week)
W/C)10/8)
Marke3ng)
plan)aligned)
with)
Community)
Share)
Project)Plan.)
Database)
ready)with)
clean)details)
held)for)
Target)
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and)
agreement)
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reached.)
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Pier)Open)
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content)
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2.)
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names)and)
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Week)direct)
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Groups)1)&)
2.)
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on)
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Trustees.)
App.)
✓)
Marke3ng)
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‘owners’)
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all)ac3ons.)
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agreed.)Sub)
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) Groups)
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and)
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approach.)
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Circulate)
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‘one)version’)
they)will)be)
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required)
use)when)
during)
Presen3ng)to)
Launch)
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5
week.)
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Teaser)
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2.)
6
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LeTer)and)
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3
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confirm)Go)
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produced)
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briefing.)
6)
Launch)Week)_)Time)Line)
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decision)and)
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ac3vi3es.)
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provided)to)all)
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A5)Flyer)ready)
3
1
!!!!
for)local)
doorstep)
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distribu3on.)
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an3cipa3on)of)
Launch)Day.)
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Online)sales)
process)live.)))))))
Call)to)ac3on)live)
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with)links)from)
Partner)sites.)))))
Saturday)&))
Sunday))
th
15 )and)16th))
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)
Weekend)
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sent)by)Pier)to)
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to)Group)3.)
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3me.)
A5)Flyers)
delivered)to)local)
doorsteps)(via)
5
third)party).)
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Group)4)sales)
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6
6
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Pier.)Minimum)
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Partners)and)
Sales)Outlets)to)
confirm)all)
engaged.)
Volunteers)and)
staff)proac3vely)
approaching)
every)visitor.)
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con3nue)whilst)
the)Offer)is)
open.)
Tues,)Wed))
&)Thurs))
)18th)–)20th)Aug)
)
Directors)to)be)
Monday))
17th)August)
Sales)desk)at)
Hawthorns)
manned)all)day)
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Director.)Two)
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(9:30)&)16:00).))
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Pier.)Minimum)
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the)day.)
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responses)in)real)
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3
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being)dealt)with)
efficiently.)
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on)Launch)Day)(Friday)14th)August)2015).)
Friday))
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ac3ve)on)the)
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and)Sales)Outlets)
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for)Launch)Week)
and)update)
Directors,)Staff,)
Partners,)Stores)
and)Volunteers.)
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volunteers)and)
staff)are)
proac3vely)
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every)visitor.)
Answer)any)
queries)refresh)
Frequently)
Asked)Ques3ons)
(FAQ))sheet.)
Announce)
progress)on)
social)media)and)
con3nue)to)
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interest.)
Community)
Share)offer)Sub)
CommiTee)to)
decide)whether)
future)ac3vity)
needs)to)be)
changed)in)the)
light)of)Launch)
Week)results.)
7)
Reinforcement)_)Time)Line)
Week)
W/C)24/8)
Week)
W/C)31/8)
Week)
WC)7/9)
Week)
WC)14/9)
Informal)low)
cost)event)
to)thank)
staff)and)
volunteers)
for)a)
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launch.)
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and)Sales)
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involved)in)
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Agree)
content)for)
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6
Week)
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Week)
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Week)
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Follow)up)
phone)call)or)
personalised)
email)to)
HNW)Group)
1s)who)have)
not)applied.)
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leTer)or)
email)to)non)
HNW)Group)
1s)have)not)
applied.) 6
Follow)up)
call)to)ac3on)
in)The)
Resident)
magazine.)
Review)sales)
against)
target)and)if)
necessary)
write)a)
Recovery)
Plan.))
Refresh)
stocks)of)
Applica3on)
Forms)
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Sales)
Outlets.) 5
Agree)
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Plan)and)
mobilize)
ac3vity))
OR)
Celebrate)a)
successful)
launch!)
Review:)MI)
to)be)
collated)and)
circulated)
showing)
applica3ons)
received)in)
Week)One.)
Note:)Further)ac3vi3es)to)be)scheduled)in)the)light)of)Launch)Week)experience)
8)
1
1. 
2. 
3. 
4. 
5. 
6. 
7. 
8. 
9. 
10. 
11. 
12. 
13. 
14. 
15. 
16. 
17. 
18. 
19. 
20. 
21. 
Sales)Outlets)
The)Pier)shop.)✓)
The)Pier)3cket)booth.)✓))
The)Community)Bookshop.)✓)
Clevedon)&)Por3shead)public)libraries.)
Hawthorns)Residen3al)Home.)✓)
SFK.)✓)
Local)banks.)
Sponsoring)businesses.)✓)
Lindleys)Solicitors.)✓)
Clevedon)Bowls)Club)(x2).)
Estuary)and)Pale)Blue)in)Hill)Road.*)✓)
Princes)Hall.)
The)Barn.)
Council)offices)(District)&)Town).)✓)
The)Copy)Shop.)✓
Clevedon)Golf)Club.)✓
Linden)Lodge)Dental)Surgery.)✓
Elegance)Hair)Salon.)✓
Round)Table)/)41)Club.)
Local)supermarkets)(Tesco,)Asda,)Lidl,)Aldi)&)Sainsbury’s).)
Other)Clevedon)dental)and)doctor)surgeries.)
%
First%Key%Milestone%
By%Monday,%20th%July%
%
)
Confirm)all)sales)outlets)
are)ready)to)receive)flyers)
and)are))equipped)to)
hand_off)ques3ons)from)
prospec3ve)investors.)
✓) =)Agreement)in)place.)
)
=))Agreement)to)issue)a)
*) flyer)with)every)
purchase.)
)
9)
2
1. 
2. 
3. 
4. 
5. 
6. 
7. 
8. 
9. 
10. 
11. 
12. 
13. 
14. 
15. 
16. 
17. 
18. 
19. 
20. 
21. 
Partner)Groups)
Tiffin)on)the)Pier.)+)✓)
The)Victorian)Society.)*)✓)
SKF)Employees.) ✓)
Lindleys)Employees.)✓)
Clevedon)Civic)Society.) ✓)
Clevedon)Community)Bookshop.) ✓)
RNLI.)*)
Friends)of)Tyntesfield.)
The)Paddle)Steamer)Preserva3on)Society.)*)
The)Balmoral.)
Clevedon)Rotary.) ✓)
Clevedon)Lions.) ✓)
Clevedon)Bowls)Club)(x2).)
Clevedon)Freemasons.)) ✓)
Clevedon)Lawn)Tennis)Club.)
Clevedon)Chamber)of)Commerce.)
Clevedon)Gig)Club.
Clevedon)Marlins.)
The)Curzon)Cinema.)
The)Na3onal)Pier)Associa3on.)*)
Britannia)Windows. ✓
%
First%Key%Milestone%
By%Monday,%20th%July%
%
Confirm)all)partners)are)
ready)to)support)two)
email)drops)and)agree)
content.)
✓)
*)
+)
=)Agreement)in)place.)
)=)Group)4)prospects)
i.e.)na3onal)bodies.)
)
=)Our)catering)partner)will)
be)providing)full)support)
including)access)to)loyalty)
card)holders)and)the)
provision)of)food)and)drink)
at)the)two)free)opening)
events.)
22.  Bristol)University)(Suppor3ng)Open)Days)on)24th)July)and)14th)August). ✓)
10)
3
Media))
(Not)including)ad)hoc)opportuni3es)))
PublicaEon%
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Resident)
1st%Advert%/%
Advertorial%
2nd%Advert%/%
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3rd%Advert%/%
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_6)
Launch)Week*)
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+8)
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Launch)Week)
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Local))
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+4)
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*)Where)publica3on)dates)do)
not)coincide)then)publish)as)
soon)as)possible)afer)the)
launch.)
Note:)Adverts)will)be)prepared)by)Britannia)
Windows)via)Susan)Cawley)(CP&HT).)Media)liaison)
and)press)releases)will)be)undertaken)by)Simon)
Talbot_Ponsonby)(Chair,)CP&HT).))
11)
4
• 
• 
• 
• 
• 
• 
• 
• 
• 
)
)
Readiness)Criteria)
Cons3tu3on)changed)and)bank)account)ready.)
Marke3ng)material)printed)and)ready)for)distribu3on.)
Fulfillment)process)ready)&)tested)(online)&)paper).)
Press)copy)submiTed)and)ready)for)publica3on.)
Volunteers)and)staff)briefing)prepared.)
Resources)to)support)launch)Week)commiTed.)
Community)Share)Unit)compliance)mark)awarded.)
Business)Plan)&)Prospectus)ready)for)issuance.)
FCA)Registra3on)complete.)
%
To%be%in%place%for%
Week%starEng%3rd%August%
RAG)status)on)each)to)be)
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Day)‘Go’)decision.)
12)
5
Schedule)of)Flyers,)Brochures)&)
Presenta3on)Material)_)Drafing)
Type%
Required%Outcome%
Required%by%
Number%
Responsibility%
1)
Teaser)advert)in)
(landscape)and)
portrait))
)
Invita3on)to)register)an)
interest.)No)
commitment.)
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)
Two)versions.)Portrait) Done.)
and)Landscape.)
)
)
2)(a))
Advert)invi3ng)
applica3ons)for)
Shares)
(landscape)and)
portrait).)
Win)commitment)to)
buying)shares.)
Done.)
)
)
Two)versions.)Portrait) Done.)
and)Landscape.)
)
)
2)(b)) A5)Flyer.)Call)to)
Ac3on.)
Short)summary)and)
request)for)prospectus)
and)applica3on)form.)
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)
)
65,000)*)
Done.)
)
)
3)
Prospectus)
document.)
Full)details)of)the)
Community)Share)Offer.)
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)
10,000)
Done.)
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)
4)
Slide)Pack)for)
use)in)
Presenta3ons.)
One)version)of)the)
Community)Share)story)
with)details.)
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)
)
One)Master)with)
Version)Control.)
Done.)
)
)
*%Distribu3on)to)Por3shead,)Clevedon,)Nailsea,)Tickenham)and)surrounding)villages.)Also)Clifon,)Bristol.)
13)
6
Schedule)of)leTers)&)emails)
Type%
DescripEon%
Timing%
Number%
1)
Group)1:)Offer)of)Shares)by)
the)Pier.)
LeTer)or)email)to)all)who)have)
registered)an)interest)invi3ng)an)
applica3on.)
14th)August)
100)LeTers)
400)emails)
2)
Group)2:))Offer)of)Shares)by)
by)the)Pier.)
LeTer)or)email)offering)Shares)to)
friends)of)the)Pier)who)have)not)
registered)an)interest.)
14th)August)
4000)LeTers)
500)emails)
)
3)
Group)3:)Offer)of)Shares)by))
the)Pier)through)Partners.)
email)to)members)of)local)
14th)August)
organisa3ons)invi3ng)an)applica3on.)
N/A)
4)
Group)1:)Chaser)offer)of)
Shares.)
Chaser)leTer)or)email)on)‘Group)1)
Offer)of)Shares)by)the)Pier’.)
28th)September)
25)LeTers)
100)emails)
5)
Group)1)HNW)–)Customised)
version)of)LeTer)No.)1.)
Generic)leTer)No.)3)to)be)
customised)for)each)HNW)recipient.)
14th)August)
25)LeTers)/)emails)
6)
Group)2)HNW)–)version)of)
LeTer)no.)2.)
Generic)leTer)No.)4)to)be)
customised)for)each)HNW)recipient.)
14th)August)
50)LeTers)/)emails)
Note:)1,)2)&)3)have)been)drafed)as)at)27th)July)15)
Note:)For)lead)3mes)see)the)detailed)3meline)(Pages)6)to)8).)
14)
Appendix 5 - Business Plan - Risk Register.xls
Appendix(5(((
Risk(Register
Risk
Mitigation
Probability
Impact
Owner
Current9status
last9updated
low
high
Hilary
Completed.
2015G05
low
high
Simon
Completed.
2015G05
low
high
Business(
Manager
To(monitor(using(monthly(
and(annual(data.
2015G05
medium
low
Phil
Have(list(of(potential(
replacement(catering(
businesses.
2015G05
LEGAL
Failure(to(get(sign(off(from(charity(
commission(for(exempt(charity.
ACCEPT:(Procede(with(financial(
implications(of(not(having(charitable(
status(benefits.
No(sign(off(from(local(government(for( ACCEPT:(Fundamental(review(of(
on(site(cooking(planning(persmission. business(plan(and(delayed(
implementation(of(project.
TRADE
Not(meeting(footfall(targets((eg(due(to( REDUCE:(The(new(visitor(centre(and(cafe(
poor(weather,(adverse(economic(
/(restaurant(is(designed(to(reduce(the(
conditions).
impact(of(poor(weather(on(number(of(
visitors:(extended(opening(hours,(
improving(project(offer(and(
conservatism(of(projections.(Also,(
targets(are(calculated(over(a(10(year(
cycle(that(will(smooth(the(risk(run(in(any(
one(year;(there(is(an(expected('spike'(in(
year(1(that(will(excede(the(conservative(
projected(visitor(numbers).
Partnership(with(Tiffin(fails.
REDUCE:(The(selection(process(
identified(a(number(of(other(catering(
businesses(within(the(pier(locality(who(
we(would(have(confidence(in(
approaching.
TECHNICAL
Page 1
Appendix 5 - Business Plan - Risk Register.xls
Risk
Mitigation
Probability
Impact
Owner
Current9status
last9updated
Maintenance(costs(are(significantly(
higher(than(budgeted(for.
AVOID:(When(the(pier(collapsed(in(1970(
it(followed(a(period(of(poor(
maintenance(and(irregular(inspections.(
We(now(have(a(maintenance(
programme(supported(by(regular(
inspections.(Where(remedial(activity(is(
identified(it(is(carried(out(in(a(timely(
fashion.
medium
low
Simon
Not(seen(as(a(major(risk(
currently.
2015G05
Delay(in(buidling(work
REDUCE:(Close(hands(on(management(
or(reduce(specification(of(build.
high
medium
Simon
On(schedule(for(Yr(End(but(
contingency(used(to(hold(to(
plan.
2015G05
high
medium
Colin(S
Scenarios(of(using(loan(
need(to(be(written(in(
finance(model.
2015G05
medium
low
Phil
POLITICAL
None
FINANCIAL
Fail(to(meet(the(target(of(£378k(set(
REDUCE:(We(have(in(place(a(loan(
under(the(community(share(scheme(or( agreement(underwritten(by(the(
not(meet(the(target(by(September.
Architectural(Heritage(Fund(on(
commerical(terms(that(can(be(drawn(
down(if(the(£378k(target(is(not(achieve.(
However,(this(will(increase(the(cost(of(
finance(and(thus(the(overheads.
Failure(to(meeting(net(income(stream( REDUCE:(Adjust(prices.
targets(in(business(plan.
HUMAN9RESOURCES
Page 2
2015G05
Appendix 5 - Business Plan - Risk Register.xls
Risk
Mitigation
Probability
Impact
Owner
Current9status
last9updated
Failure(to(recruit(the(appropriate(
people(to(fill(paid(posts.
TRANSFER:(Rely(on(volunteers(
temporarily.
medium
high
Peter
Recruitment(started((ads(
out).
2015G05
Loss(of(key(board(members.
REDUCE:(Seeking(appropriately(skilled(
new(board(members.
medium
medium
Simon
Two(found,(looking(for(
more.
2015G05
high
low
Colin
Currently(delayed.(
Members(to(be(informed(of(
delay(and(reasons.
2015G05
REPUTATION
Delay(in(share(offer(launch.
ACCEPT:(Keep(potential(members(
informed.
Page 3
Clevedon Pier & Heritage Trust Limited
Appendix 6 - Assumptions
Finance Assumptions
INCOME
Year
1
Rate
1.7%
Inflation (CPI)
1) Visitors
Increase Per Year of visitors only (Compound)
Visits (excluding the below)
Adult visitors
Adult visitor price
Adult visitor income
7.00%
£1.00
Concession visitors
Concession visitor price
Concession visitor income
£1.50
Non-chargeable visitors
Non-chargeable visitor price
Non-chargeable visitor income
£0.00
Total visitors
Total income
Average admission price
Out of hours restaurant visitors
Adult visitors
5
6
7
8
9
10
1.9%
2.0%
2.0%
2.0%
2.0%
2.0%
2.0%
2.0%
2.0%
7.00%
7.00%
7.00%
5.00%
5.00%
5.00%
3.00%
3.00%
3.00%
53,074
£2.04
£108,164
56,789
£2.08
£118,051
60,764
£2.12
£128,840
63,802
£2.16
£137,988
66,992
£2.21
£147,785
70,342
£2.25
£158,278
72,452
£2.30
£166,287
74,626
£2.34
£174,701
76,865
£2.39
£183,541
9,416
10,075
£1.00
£10,075
10,780
£1.02
£10,985
11,535
£1.04
£11,989
12,342
£1.06
£13,085
12,960
£1.08
£14,014
13,608
£1.10
£15,009
14,288
£1.13
£16,075
14,717
£1.15
£16,888
15,158
£1.17
£17,743
15,613
£1.19
£18,640
20,988
22,457
£1.50
£33,686
24,029
£1.53
£36,729
25,711
£1.56
£40,086
27,511
£1.59
£43,749
28,887
£1.62
£46,856
30,331
£1.65
£50,182
31,847
£1.69
£53,745
32,803
£1.72
£56,465
33,787
£1.76
£59,322
34,801
£1.79
£62,324
4,035
4,317
£0.00
£0
4,620
£0.00
£0
4,943
£0.00
£0
5,289
£0.00
£0
5,554
£0.00
£0
5,831
£0.00
£0
6,123
£0.00
£0
6,306
£0.00
£0
6,496
£0.00
£0
6,690
£0.00
£0
86,451
£142,964
£1.65
92,503
£155,878
£1.69
98,978
£170,125
£1.72
105,907
£185,675
£1.75
111,202
£198,858
£1.79
116,762
£212,977
£1.82
122,600
£228,098
£1.86
126,278
£239,640
£1.90
130,067
£251,766
£1.94
133,969
£264,505
£1.97
40
24
£1.30
£1,248
43
26
£1.32
£1,456
46
27
£1.35
£1,700
49
29
£1.38
£1,986
51
31
£1.41
£2,233
54
32
£1.43
£2,511
57
34
£1.46
£2,824
58
35
£1.49
£3,056
60
36
£1.52
£3,307
62
37
£1.55
£3,578
960
£1,248
£1.30
1,099
£1,456
£1.32
1,258
£1,700
£1.35
1,441
£1,986
£1.38
1,588
£2,233
£1.41
1,751
£2,511
£1.43
1,931
£2,824
£1.46
2,048
£3,056
£1.49
2,173
£3,307
£1.52
2,305
£3,578
£1.55
6,000
6,420
6,869
7,350
7,718
8,104
8,509
8,764
9,027
9,298
40
24
£1.30
4
49,602
£2.00
£99,203
Total visitors
Total income
Average admission price
Pre-booked parties
Number of parties
Average number in a party
Non-chargeable visitor price
Non-chargeable visitor income
3
43,324
£2.00
Child visitors
Child visitor price
Child visitor income
2
Base
Page 1
Year
£2.00
1
£2.00
£12,000
2
£2.04
£13,084
3
£2.08
£14,280
4
£2.12
£15,585
5
£2.16
£16,692
6
£2.21
£17,877
7
£2.25
£19,146
8
£2.30
£20,115
9
£2.34
£21,132
10
£2.39
£22,202
Child visitors
Child visitor price
Child visitor income
£1.00
600
£1.00
£600
642
£1.02
£654
687
£1.04
£714
735
£1.06
£779
772
£1.08
£835
810
£1.10
£894
851
£1.13
£957
876
£1.15
£1,006
903
£1.17
£1,057
930
£1.19
£1,110
Concession visitors
Concession visitor price
Concession visitor income
£1.50
2,000
£1.50
£3,000
2,140
£1.53
£3,271
2,290
£1.56
£3,570
2,450
£1.59
£3,896
2,573
£1.62
£4,173
2,701
£1.65
£4,469
2,836
£1.69
£4,786
2,921
£1.72
£5,029
3,009
£1.76
£5,283
3,099
£1.79
£5,550
Non-chargeable visitors
Non-chargeable visitor price
Non-chargeable visitor income
£0.00
200
£0.00
£0
214
£0.00
£0
229
£0.00
£0
245
£0.00
£0
257
£0.00
£0
270
£0.00
£0
284
£0.00
£0
292
£0.00
£0
301
£0.00
£0
310
£0.00
£0
8,800
£15,600
£1.77
9,416
£17,009
£1.81
10,075
£18,564
£1.84
10,780
£20,261
£1.88
11,319
£21,699
£1.92
11,885
£23,240
£1.96
12,480
£24,890
£1.99
12,854
£26,149
£2.03
13,240
£27,472
£2.07
13,637
£28,862
£2.12
4,649
£1.50
£6,974
4,975
£1.53
£7,604
5,323
£1.56
£8,299
5,695
£1.59
£9,057
5,980
£1.62
£9,700
6,279
£1.65
£10,389
6,593
£1.69
£11,127
6,791
£1.72
£11,690
6,995
£1.76
£12,281
7,205
£1.79
£12,902
Adult visitor price
Adult visitor income
Total visitors
Total income
Average admission price
Boat Passengers – embarking / disembarking at Clevedon
Adult visitors
Adult visitor price
Adult visitor income
4,345
£1.50
Child visitors
Child visitor price
Child visitor income
£0.00
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
Concession visitors
Concession visitor price
Concession visitor income
£0.00
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
Non-chargeable visitors
Non-chargeable visitor price
Non-chargeable visitor income
£0.00
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
£0.00
£0
4,649
£6,974
£1.50
4,975
£7,604
£1.53
5,323
£8,299
£1.56
5,695
£9,057
£1.59
5,980
£9,700
£1.62
6,279
£10,389
£1.65
6,593
£11,127
£1.69
6,791
£11,690
£1.72
6,995
£12,281
£1.76
7,205
£12,902
£1.79
450
704
£6.00
£4,224
450
753
£6.11
£4,606
450
806
£6.24
£5,027
450
862
£6.36
£5,486
450
906
£6.49
£5,875
450
951
£6.62
£6,293
450
998
£6.75
£6,739
450
1,028
£6.89
£7,080
450
1,059
£7.02
£7,439
450
1,091
£7.16
£7,815
704
£4,224
£6.00
753
£4,606
£6.11
806
£5,027
£6.24
862
£5,486
£6.36
906
£5,875
£6.49
951
£6,293
£6.62
998
£6,739
£6.75
1,028
£7,080
£6.89
1,059
£7,439
£7.02
1,091
£7,815
£7.16
Total visitors
Total income
Average admission price
Day Fishermen
Adult visitors
Adult visitor average price
Adult visitor income
Total visitors
Total income
Average admission price
450
£6.00
Page 2
Year
Annual Fishermen (Estimate 10 Visits Per year)previous estimation
10
250
Total visitors excluding Annual Fisherman and Annual Passes
Total income excluding Annual Fishermen and Annual Passes
Annual Passes
Sole
Number of passes
Annual pass price (no VAT and possibly gift aid to be added)
Annual pass income
Number of people per pass
Visits per annual pass
Annual vists by annual passholders
Joint
Number of passes
Annual pass price (no VAT and possibly gift aid to be added)
Annual pass income
Number of people per pass
Visits per annual pass
Annual vists by annual passholders
Family
Number of passes
Annual pass price (no VAT and possibly gift aid to be added)
Annual pass income
Number of people per pass
Visits per annual pass
Annual vists by annual passholders
Gross Visitor Numbers (including Fishing Club & Annual Passes)
Average admission price
Total admission Income (excluding Fishing Club & Annual Passes)
Less VAT @ 20%
Plus Annual pass income
Net Admissions Income
2) Catering
Premium on Visitors to Catering Partner
Premium from Catering Partner Excl. Evening Dining
3
4
5
6
7
8
9
10
2,500
2,500
2,500
2,500
2,500
2,500
2,500
2,500
2,500
2,500
108,746
£186,552
116,440
£203,715
124,686
£222,464
130,995
£238,365
137,629
£255,409
144,602
£273,677
149,000
£287,614
153,533
£302,264
158,206
£317,663
33
33
£31.25
£1,031
1
20
660
53
£31.84
£1,688
1
20
1,060
73
£32.48
£2,371
1
20
1,460
93
£33.13
£3,081
1
20
1,860
113
£33.79
£3,819
1
20
2,260
133
£34.47
£4,584
1
20
2,660
153
£35.16
£5,379
1
20
3,060
173
£35.86
£6,204
1
20
3,460
193
£36.58
£7,060
1
20
3,860
213
£37.31
£7,947
1
20
4,260
33
33
£50.00
£1,650
2
20
1,320
53
£50.95
£2,700
2
20
2,120
73
£51.97
£3,794
2
20
2,920
93
£53.01
£4,930
2
20
3,720
113
£54.07
£6,110
2
20
4,520
133
£55.15
£7,335
2
20
5,320
153
£56.25
£8,607
2
20
6,120
173
£57.38
£9,926
2
20
6,920
193
£58.53
£11,295
2
20
7,720
213
£59.70
£12,715
2
20
8,520
33
33
£62.50
£2,063
4
20
2,640
53
£63.69
£3,375
4
20
4,240
73
£64.96
£4,742
4
20
5,840
93
£66.26
£6,162
4
20
7,440
113
£67.59
£7,637
4
20
9,040
133
£68.94
£9,169
4
20
10,640
153
£70.32
£10,758
4
20
12,240
173
£71.72
£12,408
4
20
13,840
193
£73.16
£14,119
4
20
15,440
213
£74.62
£15,894
4
20
17,040
99
£4,744
4,620
159
£7,764
7,420
219
£10,907
10,220
279
£14,173
13,020
339
£17,566
15,820
399
£21,088
18,620
459
£24,744
21,420
519
£28,538
24,220
579
£32,474
27,020
639
£36,556
29,820
108,685
£1.35
£171,010
£28,502
£4,744
£147,252
118,666
£1.38
£186,552
£31,092
£7,764
£163,224
129,160
£1.40
£203,715
£33,952
£10,907
£180,669
140,206
£1.42
£222,464
£37,077
£14,173
£199,560
149,315
£1.45
£238,365
£39,728
£17,566
£216,203
158,749
£1.47
£255,409
£42,568
£21,088
£233,929
168,522
£1.50
£273,677
£45,613
£24,744
£252,809
175,720
£1.53
£287,614
£47,936
£28,538
£268,217
183,053
£1.55
£302,264
£50,377
£32,474
£284,361
190,526
£1.58
£317,663
£52,944
£36,556
£301,275
£0.16
£22,433
£0.16
£23,890
£0.16
£25,400
£0.16
£26,964
£0.16
£29,288
£0.16
£30,484
£50.00
Number of passes
Annual pass income
Annual vists by annual passholders
2
101,565
£171,010
£31.25
£62.50
1
£0.10
£10,868
Collar Applies
£0.12
£14,240
£0.16
£16,000
Cap Applies
3) Retail
Page 3
£0.16
£28,115
Year
Pier user sales
Average spend/head 85p
Less VAT @ 20%
Sub Total
Less cost of sales @ 52%
Gross Profit
1
3
4
5
6
7
8
9
10
£54,342
£9,057
£45,285
£23,548
£21,737
£60,460
£10,077
£50,384
£26,199
£24,184
£65,872
£10,979
£54,893
£28,544
£26,349
£71,505
£11,917
£59,587
£30,985
£28,602
£76,151
£12,692
£63,459
£32,999
£30,460
£80,962
£13,494
£67,468
£35,083
£32,385
£85,946
£14,324
£71,622
£37,243
£34,378
£89,617
£14,936
£74,681
£38,834
£35,847
£93,357
£15,560
£77,798
£40,455
£37,343
£97,168
£16,195
£80,974
£42,106
£38,867
£15,000
£2,500
£12,500
£6,500
£6,000
£15,500
£2,583
£12,917
£6,717
£6,200
£16,000
£2,667
£13,333
£6,933
£6,400
£16,500
£2,750
£13,750
£7,150
£6,600
£17,000
£2,833
£14,167
£7,367
£6,800
£17,500
£2,917
£14,583
£7,583
£7,000
£18,000
£3,000
£15,000
£7,800
£7,200
£18,500
£3,083
£15,417
£8,017
£7,400
£19,000
£3,167
£15,833
£8,233
£7,600
£19,500
£3,250
£16,250
£8,450
£7,800
£5,000
£833
£4,167
£2,167
£2,000
£5,000
£833
£4,167
£2,167
£2,000
£5,500
£917
£4,583
£2,383
£2,200
£6,000
£1,000
£5,000
£2,600
£2,400
£6,500
£1,083
£5,417
£2,817
£2,600
£7,000
£1,167
£5,833
£3,033
£2,800
£7,500
£1,250
£6,250
£3,250
£3,000
£8,000
£1,333
£6,667
£3,467
£3,200
£8,500
£1,417
£7,083
£3,683
£3,400
£9,000
£1,500
£7,500
£3,900
£3,600
Turnover for all shop sales
Turnover for all retail
£69,342
£74,342
£75,960
£80,960
£81,872
£87,372
£88,005
£94,005
£93,151
£99,651
£98,462
£105,462
£103,946
£111,446
£108,117
£116,117
£112,357
£120,857
£116,668
£125,668
Net Retail Income
£29,737
£32,384
£34,949
£37,602
£39,860
£42,185
£44,578
£46,447
£48,343
£50,267
£6,000
£1,000
£5,000
£6,114
£1,019
£5,095
£6,236
£1,039
£5,197
£6,361
£1,060
£5,301
£6,488
£1,081
£5,407
£6,618
£1,103
£5,515
£6,750
£1,125
£5,625
£6,885
£1,148
£5,738
£7,023
£1,171
£5,853
£7,164
£1,194
£5,970
Stand-alone shoppers
Sales
Less VAT @ 20%
Sub Total
Less cost of sales @ 52%
Gross Profit
On-line
Sales
Less VAT @ 20%
Sub Total
Less cost of sales @ 52%
Gross Profit
4) Art Gallery
Assume Art Gallery moves to Heritage Centre
Less VAT @ 20%
Net Art Gallery Income
£0.50
2
52.00%
52.00%
52.00%
20.00%
5) Meetings/Conferences
Gradual increase in meetings/week (x 48 weeks)
Meetings per annum
Charge per half day meeting
Meeting income
Less VAT @ 20%
Sub Total
Year
Growth in 1 day business meetings per month
Total number of meetings
Charge per full day meeting
Meeting income
Average number of delegates 15
Catering Charge /delegate £12/head (including coffee/lunch)
Catering charge
60
100
12
1
48
60
2,880
480
2,400
1
1
12
100
1,200
2
96
61
5,869
978
4,891
2
1
12
102
1,223
3
144
62
8,980
1,497
7,484
3
1
12
104
1,247
3
144
64
9,160
1,527
7,633
4
2
24
106
2,544
3
144
65
9,343
1,557
7,786
5
3
36
108
3,893
3
144
66
9,530
1,588
7,942
6
3
36
110
3,971
3
144
68
9,721
1,620
8,100
7
3
36
113
4,050
3
144
69
9,915
1,652
8,262
8
3
36
115
4,131
3
144
70
10,113
1,686
8,428
9
3
36
117
4,214
3
144
72
10,315
1,719
8,596
10
3
36
119
4,298
180
12
2,160
180
12
2,201
180
12
2,245
360
13
4,580
540
13
7,007
540
13
7,147
540
14
7,290
540
14
7,436
540
14
7,585
540
14
7,737
Page 4
Year
1
2
3
4
5
6
7
8
9
10
216
220
225
458
701
715
729
744
758
774
4,296
716
£3,580
7,312
1,219
£6,094
10,452
1,742
£8,710
12,162
2,027
£10,135
13,937
2,323
£11,614
14,215
2,369
£11,846
14,500
2,417
£12,083
14,790
2,465
£12,325
15,086
2,514
£12,571
15,387
2,565
£12,823
Use Outside Caterer
Net income 10%
Sub Total
Less VAT @ 20%
Net Meetings/Conferences Income
6) Education Groups
Gradual increase in number of education groups per year
50% of school groups will take an accompanied visit
Admission Charge for Supported Visits
Rate per head
Income (Assume 30 pupils)
Gross Income
Less VAT @ 20%
Sub Total
Less cost of sales @ 0% (volunteer resource)
Less marketing @ 10%
Net Education Group Income
Admission Charge for Unsupported Visits
Rate per head
Income (Assume 30 pupils)
Less VAT @ 20%
Net Unsupported Visit Admission Income
Education Retail
Number of pupils
Average spend
Retail spend £2/pupil
Sub Total
Less VAT @ 20%
Sub Total
Less cost of sales @ 45%
Net Education Retail Income
7) Venue Hire
Weddings (Licensed Wedding Venue)
Booking fee £250/event
Booking fee total
Less VAT @ 20%
Net Weddings Venue Hire
Wedding Receptions
£250/booking (venue hire)
Booking fee total
Less VAT @ 20%
Net Wedding Receptions Income
20
£4
30
£1
30
£2
£250
£250
40
50
60
60
60
60
60
60
60
10
4
£1,200
£1,200
£200
£1,000
£0
£100
£900
20
4
£2,446
£2,446
£408
£2,038
£0
£204
£1,834
25
4
£3,118
£3,118
£520
£2,598
£0
£260
£2,339
30
4
£3,817
£3,817
£636
£3,181
£0
£318
£2,862
30
4
£3,893
£3,893
£649
£3,244
£0
£324
£2,920
30
4
£3,971
£3,971
£662
£3,309
£0
£331
£2,978
30
5
£4,050
£4,050
£675
£3,375
£0
£338
£3,038
30
5
£4,131
£4,131
£689
£3,443
£0
£344
£3,098
30
5
£4,214
£4,214
£702
£3,512
£0
£351
£3,160
30
5
£4,298
£4,298
£716
£3,582
£0
£358
£3,224
10
1
300
50
£250
20
1
611
102
£510
25
1
780
130
£650
30
1
954
159
£795
30
1
973
162
£811
30
1
993
165
£827
30
1
1,013
169
£844
30
1
1,033
172
£861
30
1
1,053
176
£878
30
1
1,075
179
£895
600
2
1,200
1,200
200
1,000
450
£550
1,200
2
2,446
2,446
408
2,038
917
£1,121
1,500
2
3,118
3,118
520
2,598
1,169
£1,429
1,800
2
3,817
3,817
636
3,181
1,431
£1,749
1,800
2
3,893
3,893
649
3,244
1,460
£1,784
1,800
2
3,971
3,971
662
3,309
1,489
£1,820
1,800
2
4,050
4,050
675
3,375
1,519
£1,856
1,800
2
4,131
4,131
689
3,443
1,549
£1,893
1,800
2
4,214
4,214
702
3,512
1,580
£1,931
1,800
2
4,298
4,298
716
3,582
1,612
£1,970
5
250
1,250
208
£1,042
8
255
2,038
340
£1,698
10
260
2,598
433
£2,165
10
265
2,650
442
£2,209
10
270
2,703
451
£2,253
10
276
2,757
460
£2,298
10
281
2,813
469
£2,344
10
287
2,869
478
£2,391
10
293
2,926
488
£2,439
10
298
2,985
497
£2,487
2
250
500
83
£417
4
255
1,019
170
£849
5
260
1,299
217
£1,083
5
265
1,325
221
£1,104
5
270
1,352
225
£1,126
5
276
1,379
230
£1,149
5
281
1,406
234
£1,172
5
287
1,434
239
£1,195
5
293
1,463
244
£1,219
5
298
1,492
249
£1,244
Page 5
Year
Lunch Club
Assume 2 days/week x 48 weeks/year
Assume 20 attendees : Charge £4.50 head
Lunch Club income
Less VAT @ 20%
2
1
2
3
4
5
6
7
8
9
10
96
4.50
8,640
1,440
96
4.59
8,804
1,467
96
4.68
8,980
1,497
96
4.77
9,160
1,527
96
4.87
9,343
1,557
96
4.96
9,530
1,588
96
5.06
9,721
1,620
96
5.16
9,915
1,652
96
5.27
10,113
1,686
96
5.37
10,315
1,719
1
7,200
2.50
4,800
£2,400
2
7,337
2.55
4,891
£2,446
3
7,484
2.60
4,989
£2,495
4
7,633
2.65
5,089
£2,544
5
7,786
2.70
5,191
£2,595
6
7,942
2.76
5,294
£2,647
7
8,100
2.81
5,400
£2,700
8
8,262
2.87
5,508
£2,754
9
8,428
2.93
5,618
£2,809
10
8,596
2.98
5,731
£2,865
4
30
240
40
£200
6
31
367
61
£306
8
31
499
83
£416
8
32
509
85
£424
10
32
649
108
£541
10
33
662
110
£551
10
34
675
113
£563
10
34
689
115
£574
10
35
702
117
£585
10
36
716
119
£597
30
20
600
7.50
4,500
5,108
851
4,256
1,490
1,596
319
£851
50
20
1,019
7.64
7,643
8,669
1,445
7,224
2,528
2,709
542
£1,445
75
21
1,559
7.80
11,693
13,260
2,210
11,050
3,867
4,144
829
£2,210
75
21
1,590
7.95
11,927
13,525
2,254
11,271
3,945
4,227
845
£2,254
75
22
1,622
8.11
12,165
13,796
2,299
11,496
4,024
4,311
862
£2,299
75
22
1,654
8.27
12,409
14,072
2,345
11,726
4,104
4,397
879
£2,345
75
23
1,688
8.44
12,657
14,353
2,392
11,961
4,186
4,485
897
£2,392
75
23
1,721
8.61
12,910
14,640
2,440
12,200
4,270
4,575
915
£2,440
75
23
1,756
8.78
13,168
14,933
2,489
12,444
4,355
4,666
933
£2,489
75
24
1,791
8.95
13,432
15,231
2,539
12,693
4,443
4,760
952
£2,539
20
20
1,200
200
£1,000
20
1,223
204
£1,019
21
1,247
208
£1,039
21
1,272
212
£1,060
22
1,298
216
£1,081
22
1,324
221
£1,103
23
1,350
225
£1,125
23
1,377
230
£1,148
23
1,405
234
£1,171
24
1,433
239
£1,194
20
20
2,000
333
1,667
100
£1,567
20
2,038
340
1,698
102
£1,596
21
2,079
346
1,732
104
£1,628
21
2,120
353
1,767
106
£1,661
22
2,163
360
1,802
108
£1,694
22
2,206
368
1,838
110
£1,728
23
2,250
375
1,875
113
£1,763
23
2,295
383
1,913
115
£1,798
23
2,341
390
1,951
117
£1,834
24
2,388
398
1,990
119
£1,870
48
£4.50
20
20%
Year
Sub Total
Assume net cost to Trust £2.50/head
Cost of sales
Net Lunch Club Income
£2.50
Functions/Parties
Assume room hire 2 hours @ 30/hour (venue hire)
Room Hire
Less VAT @ 20%
Net Functions/Parties Income
Childrens Parties
Assume hire £20/event
Room Hire
Assume attendees @ £7.50/head
Charge for 20 attendees per event
Sub Total
Less VAT @ 20%
Sub Total
Less cost of sales @ 35%
Less cost of labour @ 37.5%
Less overheads @ 7.5%
Net Childrens Parties Income
Craft Events (in meeting room)
Room charged out @ £20/hour
Room charge for 10/year x 6 hours @ £20/hour
Less VAT @ 20%
Net Craft Event Income
Leisure Learning Courses
Price per head
10 per year x 10 participants/event @ £20/head
Less VAT @ 20%
Sub Total
Less cost of sales £100/event
Net Leisure Learning Income
30
20
20
£7.50
£7.50
20.00%
35.00%
37.50%
7.50%
8) Binoculars
Page 6
Year
Hire of static binoculars. Assume 0.5p/visitor
Hire of static binoculars.
Less VAT @ 20%
Net Binocular Hire Income
1
£0.005
543
91
£453
2
£0.005
605
101
£504
3
£0.005
671
112
£559
4
£0.005
743
124
£619
5
£0.005
807
135
£673
6
£0.006
875
146
£730
7
£0.006
948
158
£790
8
£0.006
1,008
168
£840
9
£0.006
1,071
179
£893
10
£0.006
1,137
190
£948
9) Plaques
Assume average income (inclusive of costs and
net of VAT) increases for first three years.
Increase of number not price year on year
Plaque Scheme (Net of VAT) Income
£20,000
£21,400
£22,898
£22,898
£22,898
£22,898
£22,898
£22,898
£22,898
£22,898
10) Waterloo House
Assume former Heritage Centre is integrated
within the Toll House interpretation
Waterloo House Rent (Net of VAT)
£15,000
£15,285
£15,591
£15,903
£16,221
£16,545
£16,876
£17,213
£17,558
£17,909
40
£10,000
41
£10,190
42
£10,394
42
£10,602
43
£10,814
44
£11,030
45
£11,251
46
£11,476
47
£11,705
48
£11,939
£5,000
£5,095
£5,197
£5,301
£5,407
£5,515
£5,625
£5,738
£5,853
£5,970
£5,000
£5,095
£5,197
£5,301
£5,407
£5,515
£5,625
£5,738
£5,853
£5,970
£20,000
£16,200
£20,000
£16,200
£20,000
£16,200
£20,000
£0
£20,000
£0
£20,000
£0
£20,000
£0
£20,000
£0
£20,000
£0
£20,000
£0
£8,085
£10,500
£54,785
£8,085
£0
£44,285
£8,085
£0
£44,285
£0
£0
£20,000
£0
£0
£20,000
£0
£0
£20,000
£0
£0
£20,000
£0
£0
£20,000
£0
£0
£20,000
£0
£0
£20,000
£460
£460
£492
£492
£527
£527
£564
£564
£592
£592
£621
£621
£652
£652
£672
£672
£692
£692
£713
£713
£316,311
£336,206
£365,626
£372,881
£396,090
£419,175
£443,573
£463,568
£484,382
£506,050
11) Fishing Club
Assume 250 members @ average £40 subscription
Fishing Club Membership
£0.005
£40
12) Gift Aid
Assume Y1 – Y5+ £5,000pa
No tax implication
Gift Aid
13) Donations and Legacies
Assume £5,000 pa
Donations and Legacies
14) Grants
North Somerset Council
Heritage and Outreach Officer (£27,000pa plus
20% on costs)
NSC – possible one off grant – (TO CHECK
WITH SIMON)
Activity Costs
Other costs
Net Grants Income
15) Boat tickets
Commission from boat ticket sales
Total boat ticket sales commssion
TOTAL INCOME
Page 7
Year
1
2
3
4
5
6
7
8
9
10
1
£156,600
£1,000
£12,000
£10,000
2
£177,306
£1,019
£12,228
£10,190
3
£180,852
£1,039
£12,473
£10,394
4
£184,469
£1,060
£12,722
£10,602
5
£188,159
£1,081
£12,976
£10,814
£6,756
£36,378
£22,000
£16,807
£4,677
£4,158
£5,000
£7,560
£6,891
£37,106
£22,440
£17,143
£4,771
£4,241
£5,000
£7,560
£20,000
£7,029
£37,848
£22,889
£17,486
£4,866
£4,325
£5,000
£7,160
£20,000
8
£199,675
£1,148
£13,771
£11,476
£150,000
£7,459
£40,165
£24,290
£18,556
£5,164
£4,590
10
£207,742
£1,194
£14,327
£11,939
£6,624
£35,665
£20,000
£16,477
£4,586
£4,076
£5,000
£0
7
£195,760
£1,125
£13,501
£11,251
£150,000
£7,313
£39,377
£23,814
£18,192
£5,063
£4,500
9
£203,669
£1,171
£14,046
£11,705
£6,500
£35,000
£18,000
£16,170
£4,500
£4,000
£5,000
£0
6
£191,922
£1,103
£13,236
£11,030
£150,000
£7,169
£38,605
£23,347
£17,835
£4,963
£4,412
£7,608
£40,968
£24,776
£18,927
£5,267
£4,682
£6,760
£20,000
£6,360
£20,000
£5,960
£20,000
£5,560
£20,000
£7,760
£41,787
£25,271
£19,306
£5,373
£4,776
£0
£5,160
£20,000
£268,770
£293,170
£308,094
£334,004
£339,633
£490,383
£496,255
£502,253
£358,379
£364,635
EXPENDITURE
Year
Wages and salaries (including new staff and NIC etc)
Rates
Annual Repairs and maintenance-Buildings/Facilities
Annual regular maintenance-Pier
Planned long-term maintenance – Pier
Legal & Professional fees
Insurances (including Trustee Indemnity Insurance)
Office costs
Activity costs
Accountancy
Financial costs
Repayment of Nat West Debt
Shareholder Return (Provisional)
Purchase of Shares - See 15) Withdrawl of shares
TOTAL EXPENDITURE
2%
-
Page 8
Clevedon Pier & Heritage Trust Limited
Appendix 7 £378k take up of shares
Profit & Loss
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Totals
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Net Admissions Income
Premium from Catering Partner Excl. Evening Dining
Net Retail Income
Net Art Gallery Income
Net Meetings/Conferences Income
Net Education Group Income
Net Unsupported Visit Admission Income
Net Education Retail Income
Net Weddings Venue Hire
Net Wedding Receptions Income
Net Lunch Club Income
Net Functions/Parties Income
Net Childrens Parties Income
Net Craft Event Income
Net Leisure Learning Income
Net Binocular Hire Income
Plaque Scheme (Net of VAT) Income
Waterloo House Rent (Net of VAT)
Fishing Club Membership
Gift Aid
Donations and Legacies
Net Council Grant Income
Boat Ticket Commission
£147,252
£10,868
£29,737
£5,000
£3,580
£900
£250
£550
£1,042
£417
£2,400
£200
£851
£1,000
£1,567
£453
£20,000
£15,000
£10,000
£5,000
£5,000
£20,000
£460
£163,224
£14,240
£32,384
£5,095
£6,094
£1,834
£510
£1,121
£1,698
£849
£2,446
£306
£1,445
£1,019
£1,596
£504
£21,400
£15,285
£10,190
£5,095
£5,095
£20,000
£492
£180,669
£16,000
£34,949
£5,197
£8,710
£2,339
£650
£1,429
£2,165
£1,083
£2,495
£416
£2,210
£1,039
£1,628
£559
£22,898
£15,591
£10,394
£5,197
£5,197
£20,000
£527
£199,560
£22,433
£37,602
£5,301
£10,135
£2,862
£795
£1,749
£2,209
£1,104
£2,544
£424
£2,254
£1,060
£1,661
£619
£22,898
£15,903
£10,602
£5,301
£5,301
£20,000
£564
£216,203
£23,890
£39,860
£5,407
£11,614
£2,920
£811
£1,784
£2,253
£1,126
£2,595
£541
£2,299
£1,081
£1,694
£673
£22,898
£16,221
£10,814
£5,407
£5,407
£20,000
£592
£233,929
£25,400
£42,185
£5,515
£11,846
£2,978
£827
£1,820
£2,298
£1,149
£2,647
£551
£2,345
£1,103
£1,728
£730
£22,898
£16,545
£11,030
£5,515
£5,515
£20,000
£621
£252,809
£26,964
£44,578
£5,625
£12,083
£3,038
£844
£1,856
£2,344
£1,172
£2,700
£563
£2,392
£1,125
£1,763
£790
£22,898
£16,876
£11,251
£5,625
£5,625
£20,000
£652
£268,217
£28,115
£46,447
£5,738
£12,325
£3,098
£861
£1,893
£2,391
£1,195
£2,754
£574
£2,440
£1,148
£1,798
£840
£22,898
£17,213
£11,476
£5,738
£5,738
£20,000
£672
£284,361
£29,288
£48,343
£5,853
£12,571
£3,160
£878
£1,931
£2,439
£1,219
£2,809
£585
£2,489
£1,171
£1,834
£893
£22,898
£17,558
£11,705
£5,853
£5,853
£20,000
£692
£301,275
£30,484
£50,267
£5,970
£12,823
£3,224
£895
£1,970
£2,487
£1,244
£2,865
£597
£2,539
£1,194
£1,870
£948
£22,898
£17,909
£11,939
£5,970
£5,970
£20,000
£713
£2,247,498
£227,683
£406,352
£54,700
£101,781
£26,353
£7,320
£16,105
£21,325
£10,559
£26,256
£4,756
£21,264
£10,940
£17,139
£7,009
£224,584
£164,099
£109,400
£54,700
£54,700
£200,000
£5,985
TOTAL INCOME
£281,526
£311,921
£341,341
£372,881
£396,090
£419,175
£443,573
£463,568
£484,382
£506,050
£4,020,508
Wages and salaries (including new staff and NIC etc)
Rates
Annual Repairs and maintenance-Buildings/Facilities
Legal & Professional fees
Insurances (including Trustee Indemnity Insurance)
Office costs
Activity costs
Accountancy
Financial costs
Y1
£156,600
£1,000
£12,000
£6,500
£35,000
£18,000
£16,170
£4,500
£4,000
Y2
£177,306
£1,019
£12,228
£6,624
£35,665
£20,000
£16,477
£4,586
£4,076
Y3
£180,852
£1,039
£12,473
£6,756
£36,378
£22,000
£16,807
£4,677
£4,158
Y4
£184,469
£1,060
£12,722
£6,891
£37,106
£22,440
£17,143
£4,771
£4,241
Y5
£188,159
£1,081
£12,976
£7,029
£37,848
£22,889
£17,486
£4,866
£4,325
Y6
£191,922
£1,103
£13,236
£7,169
£38,605
£23,347
£17,835
£4,963
£4,412
Y7
£195,760
£1,125
£13,501
£7,313
£39,377
£23,814
£18,192
£5,063
£4,500
Y8
£199,675
£1,148
£13,771
£7,459
£40,165
£24,290
£18,556
£5,164
£4,590
Y9
£203,669
£1,171
£14,046
£7,608
£40,968
£24,776
£18,927
£5,267
£4,682
Y10
£207,742
£1,194
£14,327
£7,760
£41,787
£25,271
£19,306
£5,373
£4,776
Y10
£1,886,154
£10,940
£131,280
£71,110
£382,899
£226,825
£176,899
£49,230
£43,760
£0
TOTAL OVERHEADS
£253,770
£277,980
£285,140
£290,843
£296,659
£302,593
£308,645
£314,817
£321,114
£327,536
£2,979,097
OPERATIONAL PROFIT
£27,756
£33,941
£56,201
£82,038
£99,431
£116,583
£134,928
£148,751
£163,268
£178,514
£1,041,411
Pier Development Grants
Y1
£34,785
Y2
£24,285
Y3
£24,285
Y4
£0
Y5
£0
Y6
£0
Y7
£0
Y8
£0
Y9
£0
Y10
£0
Y10
£83,355
£0
TOTAL OTHER INCOME
£34,785
£24,285
£24,285
£0
£0
£0
£0
£0
£0
£0
£83,355
INCOME
EXPENDITURE
OTHER INCOME
Page 1
OTHER EXPENDITURE
Annual Repairs and maintenance-Pier
Interest on shares
Interest on loans
Y1
£10,000
£0
£0
Y2
£10,190
£0
£0
Y3
£10,394
£7,560
£0
Y4
£10,602
£7,560
£0
Y5
£10,814
£7,160
£0
Y6
£161,030
£6,760
£0
Y7
£161,251
£6,360
£0
Y8
£161,476
£5,960
£0
Y9
£11,705
£5,560
£0
Y10
£11,939
£5,160
£0
Y10
£559,400
£52,080
£0
£0
TOTAL OTHER EXPENDITURE
£10,000
£10,190
£17,954
£18,162
£17,974
£167,790
£167,611
£167,436
£17,265
£17,099
£611,480
DEPRECIATION
£7,760
£7,760
£7,760
£7,760
£7,760
£7,760
£7,760
£7,760
£7,760
£7,760
£77,600
£44,781
£40,276
£54,772
£56,117
£73,697
£58,967
£40,443
£26,445
£138,243
£153,655
£435,687
NET PROFIT
Appendix 7 £378k take up of shares
Page 2
Clevedon Pier & Heritage Trust Limited
Appendix 7 £378k take up of shares
Cashflow
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Totals
£201,429
£248,970
£292,006
£349,538
£388,415
£444,872
£373,665
£320,982
£282,297
£408,300
£201,429
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Totals
Sales Income
Other Income
Loan Received
Community Shares Received
£281,526
£34,785
£311,921
£24,285
£341,341
£24,285
£372,881
£0
£396,090
£0
£419,175
£0
£443,573
£0
£463,568
£0
£484,382
£0
£506,050
£0
£4,020,508
£83,355
£0
£0
£0
£0
TOTAL INCOME
£316,311
£336,206
£365,626
£372,881
£396,090
£419,175
£443,573
£463,568
£484,382
£506,050
£4,103,863
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Y10
Overheads
Pier Maintenance
Interest on shares
Repayment of Shares
Repayment of Loan
Loan Interest
Capital expenditure
£253,770
£10,000
£0
£0
£5,000
£0
£277,980
£10,190
£0
£0
£5,000
£0
£285,140
£10,394
£7,560
£0
£5,000
£0
£290,843
£10,602
£7,560
£20,000
£5,000
£0
£296,659
£10,814
£7,160
£20,000
£5,000
£0
£302,593
£161,030
£6,760
£20,000
£0
£0
£308,645
£161,251
£6,360
£20,000
£0
£0
£314,817
£161,476
£5,960
£20,000
£0
£0
£321,114
£11,705
£5,560
£20,000
£0
£0
£327,536
£11,939
£5,160
£20,000
£0
£0
£2,979,097
£559,400
£52,080
£140,000
£25,000
£0
£0
£0
TOTAL EXPENDITURE
£268,770
£293,170
£308,094
£334,004
£339,633
£490,383
£496,255
£502,253
£358,379
£364,635
£3,755,576
CASHFLOW
£47,541
£43,036
£57,532
£38,877
£56,457
£71,207
£52,683
£38,685
£126,003
£141,415
£348,287
CLOSING BALANCE
£248,970
£292,006
£349,538
£388,415
£444,872
£373,665
£320,982
£282,297
£408,300
£549,716
£549,716
Opening Balance
CASH INCOME
CASH SPEND
Page 1
Clevedon Pier & Heritage Trust Limited
Appendix 7 £378k take up of shares
Balance Sheet
Y0
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
£1,340,000
£1,320,220
£1,300,440
£1,280,660
£1,260,880
£1,241,100
£1,221,320
£1,201,540
£1,181,760
£1,161,980
£1,142,200
Bank
Debtors
Stock
£201,429
£13,000
£11,000
£248,970
£13,000
£11,000
£292,006
£13,000
£11,000
£349,538
£13,000
£11,000
£388,415
£13,000
£11,000
£444,872
£13,000
£11,000
£373,665
£13,000
£11,000
£320,982
£13,000
£11,000
£282,297
£13,000
£11,000
£408,300
£13,000
£11,000
£549,716
£13,000
£11,000
TOTAL CURRENT ASSETS
£225,429
£272,970
£316,006
£373,538
£412,415
£468,872
£397,665
£344,982
£306,297
£432,300
£573,716
Creditors
Short-term Loans
£601,000
£5,000
£588,980
£5,000
£576,960
£5,000
£564,940
£5,000
£552,920
£5,000
£540,900
£0
£528,880
£0
£516,860
£0
£504,840
£0
£492,820
£0
£480,800
£0
TOTAL CURRENT LIABILITIES
£606,000
£593,980
£581,960
£569,940
£557,920
£540,900
£528,880
£516,860
£504,840
£492,820
£480,800
LONG TERM LIABILITIES
£20,000
£15,000
£10,000
£5,000
£0
£0
£0
£0
£0
£0
£0
£939,429
£984,210
£1,024,486
£1,079,258
£1,115,375
£1,169,072
£1,090,105
£1,029,662
£983,217
£1,101,460
£1,235,116
£44,781
£40,276
£54,772
£56,117
£73,697
£58,967
£40,443
£26,445
£138,243
£153,655
Fixed Assets
CURRENT ASSETS
CURRENT LIABILITIES
NET WORTH
FINANCED BY:
Increase in general fund for the Year
Designated fund
General Fund
Revaluation reserve
Community Shares held
£127,063
£119,871
£314,495
£378,000
£127,063
£164,652
£314,495
£378,000
£127,063
£204,928
£314,495
£378,000
£127,063
£259,700
£314,495
£378,000
£127,063
£315,817
£314,495
£358,000
£127,063
£389,514
£314,495
£338,000
£127,063
£330,547
£314,495
£318,000
£127,063
£290,104
£314,495
£298,000
£127,063
£263,659
£314,495
£278,000
£127,063
£401,902
£314,495
£258,000
£127,063
£555,558
£314,495
£238,000
NET WORTH
£939,429
£984,210
£1,024,486
£1,079,258
£1,115,375
£1,169,072
£1,090,105
£1,029,662
£983,217
£1,101,460
£1,235,116
Page 1
Clevedon Pier & Heritage Trust Limited
Appendix 8 £50k Share Take up + Loan Finance
Profit & Loss
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Totals
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Net Admissions Income
Premium from Catering Partner Excl. Evening Dining
Net Retail Income
Net Art Gallery Income
Net Meetings/Conferences Income
Net Education Group Income
Net Unsupported Visit Admission Income
Net Education Retail Income
Net Weddings Venue Hire
Net Wedding Receptions Income
Net Lunch Club Income
Net Functions/Parties Income
Net Childrens Parties Income
Net Craft Event Income
Net Leisure Learning Income
Net Binocular Hire Income
Plaque Scheme (Net of VAT) Income
Waterloo House Rent (Net of VAT)
Fishing Club Membership
Gift Aid
Donations and Legacies
Net Council Grant Income
Boat Ticket Commission
£147,252
£10,868
£29,737
£5,000
£3,580
£900
£250
£550
£1,042
£417
£2,400
£200
£851
£1,000
£1,567
£453
£20,000
£15,000
£10,000
£5,000
£5,000
£20,000
£460
£163,224
£14,240
£32,384
£5,095
£6,094
£1,834
£510
£1,121
£1,698
£849
£2,446
£306
£1,445
£1,019
£1,596
£504
£21,400
£15,285
£10,190
£5,095
£5,095
£20,000
£492
£180,669
£16,000
£34,949
£5,197
£8,710
£2,339
£650
£1,429
£2,165
£1,083
£2,495
£416
£2,210
£1,039
£1,628
£559
£22,898
£15,591
£10,394
£5,197
£5,197
£20,000
£527
£199,560
£22,433
£37,602
£5,301
£10,135
£2,862
£795
£1,749
£2,209
£1,104
£2,544
£424
£2,254
£1,060
£1,661
£619
£22,898
£15,903
£10,602
£5,301
£5,301
£20,000
£564
£216,203
£23,890
£39,860
£5,407
£11,614
£2,920
£811
£1,784
£2,253
£1,126
£2,595
£541
£2,299
£1,081
£1,694
£673
£22,898
£16,221
£10,814
£5,407
£5,407
£20,000
£592
£233,929
£25,400
£42,185
£5,515
£11,846
£2,978
£827
£1,820
£2,298
£1,149
£2,647
£551
£2,345
£1,103
£1,728
£730
£22,898
£16,545
£11,030
£5,515
£5,515
£20,000
£621
£252,809
£26,964
£44,578
£5,625
£12,083
£3,038
£844
£1,856
£2,344
£1,172
£2,700
£563
£2,392
£1,125
£1,763
£790
£22,898
£16,876
£11,251
£5,625
£5,625
£20,000
£652
£268,217
£28,115
£46,447
£5,738
£12,325
£3,098
£861
£1,893
£2,391
£1,195
£2,754
£574
£2,440
£1,148
£1,798
£840
£22,898
£17,213
£11,476
£5,738
£5,738
£20,000
£672
£284,361
£29,288
£48,343
£5,853
£12,571
£3,160
£878
£1,931
£2,439
£1,219
£2,809
£585
£2,489
£1,171
£1,834
£893
£22,898
£17,558
£11,705
£5,853
£5,853
£20,000
£692
£301,275
£30,484
£50,267
£5,970
£12,823
£3,224
£895
£1,970
£2,487
£1,244
£2,865
£597
£2,539
£1,194
£1,870
£948
£22,898
£17,909
£11,939
£5,970
£5,970
£20,000
£713
£2,247,498
£227,683
£406,352
£54,700
£101,781
£26,353
£7,320
£16,105
£21,325
£10,559
£26,256
£4,756
£21,264
£10,940
£17,139
£7,009
£224,584
£164,099
£109,400
£54,700
£54,700
£200,000
£5,985
TOTAL INCOME
£281,526
£311,921
£341,341
£372,881
£396,090
£419,175
£443,573
£463,568
£484,382
£506,050
£4,020,508
Wages and salaries (including new staff and NIC etc)
Rates
Annual Repairs and maintenance-Buildings/Facilities
Legal & Professional fees
Insurances (including Trustee Indemnity Insurance)
Office costs
Activity costs
Accountancy
Financial costs
Y1
£156,600
£1,000
£12,000
£6,500
£35,000
£18,000
£16,170
£4,500
£4,000
Y2
£177,306
£1,019
£12,228
£6,624
£35,665
£20,000
£16,477
£4,586
£4,076
Y3
£180,852
£1,039
£12,473
£6,756
£36,378
£22,000
£16,807
£4,677
£4,158
Y4
£184,469
£1,060
£12,722
£6,891
£37,106
£22,440
£17,143
£4,771
£4,241
Y5
£188,159
£1,081
£12,976
£7,029
£37,848
£22,889
£17,486
£4,866
£4,325
Y6
£191,922
£1,103
£13,236
£7,169
£38,605
£23,347
£17,835
£4,963
£4,412
Y7
£195,760
£1,125
£13,501
£7,313
£39,377
£23,814
£18,192
£5,063
£4,500
Y8
£199,675
£1,148
£13,771
£7,459
£40,165
£24,290
£18,556
£5,164
£4,590
Y9
£203,669
£1,171
£14,046
£7,608
£40,968
£24,776
£18,927
£5,267
£4,682
Y10
£207,742
£1,194
£14,327
£7,760
£41,787
£25,271
£19,306
£5,373
£4,776
Y10
£1,886,154
£10,940
£131,280
£71,110
£382,899
£226,825
£176,899
£49,230
£43,760
£0
TOTAL OVERHEADS
£253,770
£277,980
£285,140
£290,843
£296,659
£302,593
£308,645
£314,817
£321,114
£327,536
£2,979,097
OPERATIONAL PROFIT
£27,756
£33,941
£56,201
£82,038
£99,431
£116,583
£134,928
£148,751
£163,268
£178,514
£1,041,411
Pier Development Grants
Y1
£34,785
Y2
£24,285
Y3
£24,285
Y4
£0
Y5
£0
Y6
£0
Y7
£0
Y8
£0
Y9
£0
Y10
£0
Y10
£83,355
£0
TOTAL OTHER INCOME
£34,785
£24,285
£24,285
£0
£0
£0
£0
£0
£0
£0
£83,355
INCOME
EXPENDITURE
OTHER INCOME
OTHER EXPENDITURE
Page 1
Annual Repairs and maintenance-Pier
Interest on shares
Interest on loans
Y1
£10,000
£0
£18,622
Y2
£10,190
£0
£16,225
Y3
£10,394
£1,000
£13,679
Y4
£10,602
£1,000
£10,976
Y5
£10,814
£1,000
£8,107
Y6
£11,030
£1,000
£5,060
Y7
£11,251
£950
£1,826
Y8
£11,476
£900
£0
Y9
£111,705
£850
£0
Y10
£111,939
£800
£0
Y10
£309,400
£7,500
£74,495
£0
TOTAL OTHER EXPENDITURE
£28,622
£26,415
£25,073
£22,578
£19,920
£17,090
£14,027
£12,376
£112,555
£112,739
£391,395
DEPRECIATION
£7,760
£7,760
£7,760
£7,760
£7,760
£7,760
£7,760
£7,760
£7,760
£7,760
£77,600
£26,159
£24,051
£47,653
£51,701
£71,750
£91,732
£113,141
£128,615
£42,953
£58,015
£655,772
NET PROFIT
Appendix 8 £50k Share Take up + Loan Finance
Page 2
Clevedon Pier & Heritage Trust Limited
Appendix 8 £50k Share Take up + Loan Finance
Cashflow
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Totals
£201,429
£191,471
£177,008
£183,601
£191,538
£216,656
£261,209
£323,937
£457,813
£506,026
£201,429
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Totals
Sales Income
Other Income
Loan Received
Community Shares Received
£281,526
£34,785
£311,921
£24,285
£341,341
£24,285
£372,881
£0
£396,090
£0
£419,175
£0
£443,573
£0
£463,568
£0
£484,382
£0
£506,050
£0
£4,020,508
£83,355
£0
£0
£0
£0
TOTAL INCOME
£316,311
£336,206
£365,626
£372,881
£396,090
£419,175
£443,573
£463,568
£484,382
£506,050
£4,103,863
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Y10
Overheads
Pier Maintenance
Interest on shares
Repayment of Shares
Repayment of Loan
Loan Interest
Capital expenditure
£253,770
£10,000
£0
£0
£43,877
£18,622
£277,980
£10,190
£0
£0
£46,275
£16,225
£285,140
£10,394
£1,000
£0
£48,820
£13,679
£290,843
£10,602
£1,000
£0
£51,523
£10,976
£296,659
£10,814
£1,000
£0
£54,393
£8,107
£302,593
£11,030
£1,000
£2,500
£52,439
£5,060
£308,645
£11,251
£950
£2,500
£55,673
£1,826
£314,817
£11,476
£900
£2,500
£0
£0
£321,114
£111,705
£850
£2,500
£0
£0
£327,536
£111,939
£800
£2,500
£0
£0
£2,979,097
£309,400
£7,500
£12,500
£353,000
£74,495
£0
£0
TOTAL EXPENDITURE
£326,269
£350,670
£359,033
£364,944
£370,972
£374,622
£380,844
£329,693
£436,169
£442,775
£3,735,991
£9,958
£14,463
£6,593
£7,937
£25,118
£44,553
£62,728
£133,875
£48,213
£63,275
£367,872
£191,471
£177,008
£183,601
£191,538
£216,656
£261,209
£323,937
£457,813
£506,026
£569,301
£569,301
Opening Balance
CASH INCOME
CASH SPEND
CASHFLOW
CLOSING BALANCE
Page 1
Clevedon Pier & Heritage Trust Limited
Appendix 8 £50k Share Take up + Loan Finance
Balance Sheet
Y0
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
£1,340,000
£1,320,220
£1,300,440
£1,280,660
£1,260,880
£1,241,100
£1,221,320
£1,201,540
£1,181,760
£1,161,980
£1,142,200
Bank
Debtors
Stock
£201,429
£13,000
£11,000
£191,471
£13,000
£11,000
£177,008
£13,000
£11,000
£183,601
£13,000
£11,000
£191,538
£13,000
£11,000
£216,656
£13,000
£11,000
£261,209
£13,000
£11,000
£323,937
£13,000
£11,000
£457,813
£13,000
£11,000
£506,026
£13,000
£11,000
£569,301
£13,000
£11,000
TOTAL CURRENT ASSETS
£225,429
£215,471
£201,008
£207,601
£215,538
£240,656
£285,209
£347,937
£481,813
£530,026
£593,301
Creditors
Short-term Loans
£601,000
£43,877
£588,980
£46,275
£576,960
£48,820
£564,940
£51,523
£552,920
£54,393
£540,900
£52,439
£528,880
£55,673
£516,860
£0
£504,840
£0
£492,820
£0
£480,800
£0
TOTAL CURRENT LIABILITIES
£644,877
£635,255
£625,780
£616,463
£607,313
£593,339
£584,553
£516,860
£504,840
£492,820
£480,800
LONG TERM LIABILITIES
£309,123
£262,849
£214,028
£162,505
£108,112
£55,673
£0
£0
£0
£0
£0
NET WORTH
£611,429
£637,588
£661,639
£709,292
£760,993
£832,743
£921,976
£1,032,617
£1,158,733
£1,199,186
£1,254,701
Designated fund
General Fund
Revaluation reserve
Community Shares held
£127,063
£119,871
£314,495
£50,000
£127,063
£146,030
£314,495
£50,000
£127,063
£170,081
£314,495
£50,000
£127,063
£217,734
£314,495
£50,000
£127,063
£269,435
£314,495
£50,000
£127,063
£341,185
£314,495
£50,000
£127,063
£432,918
£314,495
£47,500
£127,063
£546,059
£314,495
£45,000
£127,063
£674,675
£314,495
£42,500
£127,063
£717,628
£314,495
£40,000
£127,063
£775,643
£314,495
£37,500
NET WORTH
£611,429
£637,588
£661,639
£709,292
£760,993
£832,743
£921,976
£1,032,617
£1,158,733
£1,199,186
£1,254,701
Fixed Assets
CURRENT ASSETS
CURRENT LIABILITIES
FINANCED BY:
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