A business-led partnership steering Royal Leamington Spa to a successful future.
How we communicate the Town's superb offering in a competitive market.
Our actions that make Leamington more enticing to new and repeat visitors.
How BID is helping to bolster your business in Royal Leamington Spa.
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Financial Plan
The BID financial year runs from July 1st until June 30th each year, and the BID Levy is collected annually in July. There are approximately 491 hereditaments in the BID area. The Levy applies to all businesses, including those that are vacant where the Levy is paid by the landlord. Details of BID accounts for the 2011/2012 year and audited accounts for previous years can be downloaded below.
BID Income is primarily made up of income from the annual BID Levy. In addition BID Leamington seeks to raise additional 20% of revenue from the private and public sector though sales, sponsorship and other commercial initiatives. After operating costs all BID income is invested into projects to make a positive improvement to Royal Leamington Spa. Operating costs are kept to a minimum and are closely managed by the BID Director and the BID Board with a high percentage of these operating costs being applied directly to project implementation.
BID income and expenditure is reviewed monthly by the BID Board of Directors.
Year 4:
July 1st 2011 –
June 30th 2012
The audited accounts for this year will be available in September. Below is a summary of figures to date. Full figures and analysis are contained in our Annual Report which can be downloaded here as a PDF document.
- In 2011/2012, the total budget increased by £620.00 in comparison to 2010/2011.
- The actual overhead costs 2011/2012 decreased compared to the budget, representing a saving of just over 8.46%. We have also made a saving on expenditure of 1.82% versus budget. Any unspent savings at year end have been apportioned to the delivery budget for the remainder of this year and into the next.
- Compared to the previous year, we have increased our additional events and project revenue by 466% (up from £3602 to £20,048). This was an increase of 104% compared to the budget.
- Additional income from the private and public sector in 2011/2012 represents 18% of the total levy income.
Download Previous Years Accounts
The tables and diagram below summarise BID Income & Expenditure for 2011/2012.
ANALYSIS OF BID INCOME:
| Income (Ex VAT) |
2011/12 | ||||
|---|---|---|---|---|---|
| Project Delivery Expenditure |
Budget | Actual | Actual Variance | Percent Variance | |
| BID payers income 2010 |
£325,700 | £324,443 | -£1,257 | -0.39% | |
| BID income 2009 - Lights rebate |
£39,090 | £39,090 | £0 | 0.00% | |
| Event income and sponsorship | £10,000 | £20,408 | £10,408 | 104.08% | |
ANALYSIS OF BID EXPENDITURE:
| Income (Ex VAT) |
2011/12 | ||||
|---|---|---|---|---|---|
| Project Delivery Expenditure |
Budget | Actual | Actual Variance | Percent Variance | |
| Promote: Marketing & Promotions |
£105,700 | £102,062 | -£3,638 | -3.44% | |
| Enhance: Events | £58,500 | £57,034 | -£1,466 | -2.51% | |
| Enhance: Hanging Baskets | £22,500 | £22,321 | -£179 | -0.80% | |
| Enhance: Christmas Lights | £59,687 | £59,868 | £181 | 0.30% | |
| Support: Footfall Cameras | £10,000 | £10,000 | £0 | 0.00% | |
| HR to support project delivery | £24,058 | £24,058 | £0 | 0.00% | |
| TOTAL Delivery Expenditure | £280,445 | £275,343 | -£5,102 | -1.82% | |
| Support: Director, Office, Overheads | £91,556 | £83,810 | -£7,746 | -8.46% | |
| TOTAL Expenditure | £372,001 | £359,153 | -£12,848 | -3.45% | |
| SAVINGS | £2,789 | £24,789 | |||
ACTUAL -
Summary of Costs 2011/12
Commentry
- The Events budget differs from the Business Plan of £45K as they generate additional income. With this income included they come in on budget.
- Christmas Lights expenditure is supplemented by income from Warwick District Council, as per the delivery agreement, which brings the total expenditure to just over £20K.
- Way finding is dealt with under a separate budget as residual unspent funds have been brought forward from prior years. In 2010/2011 £15,385 was spent leaving a residual of £22,540. In 2011/2012 an additional £5000 was added to the budget as per the Business Plan. At the time of print £9174 has been spent on signage and wayfinding with £16,366.00 to be carried forward. In the last quarter, significant progress has been made on delivering physical signage so we anticipate that this project will be fully implemented in the coming year.
- HR, overheads and management costs can be broken down as follows: £83,810 spent on premises & rent, HR, legal fees, professional fees. Project management and delivery costs associated with HR account for 50%.
- Actual figures are unaudited and correct at the time of going to print. Full audited accounts will be available at the end of September, and on the BID website.
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Upcoming Events
Wednesday 6th February 2013
Thursday 21st February - 5.30pm
Monday 25th February - 12.30pm
Thursday 28th February - 5.30pm
Monday 4th March - 12.30pm