We Are Waterloo Ltd,Ltd - AccountsLtd - Accounts
We Are Waterloo Ltd,Ltd - AccountsLtd - Accounts
| Registered Number:04381162 |
For the year ended 31 March 2020
England and Wales
Report of the Directors and Unaudited Financial Statements
2
For the year ended 31 March 2020
We Are Waterloo Ltd
Contents Page
| Company Information |
| 1 |
2 to 5
Directors' Report
6
Independent Accountants' Report
7
Income Statement
8
Statement of Financial Position
9 to 12
Notes to the Financial Statements
3
For the year ended 31 March 2020
We Are Waterloo Ltd
Company Information
Miss Elizabeth Sillett
Directors
Miss Rachel Helen Beach
Mr Alastair Edward Lewis
Mr Hugh Desmond Rosen
Mr John Langley
Mr Manoher Singh Matharu
Mr Michael Johnson (Chair)
Mr Nicholas James Rampley (Vice chair)
Mr Simon Charles Timothy Atkins
Mr Steven Paul Chapman
Mr Axel Udo Krueger (appointed on 11 September 2019)
Mrs Sarah Jane Edmiston (appointed on 11 September 2019)
Mr Paul Jeffrey Marshall
Mr Vinod Karsan Vara
04381162
| Registered Number |
| Registered Office |
Accountants
Unit NH.204
E1 Business Studios
7 Whitechapel Road
London
E1 1DU
Bankers
29 Borough High Street
London
SE1 1LY
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For the year ended 31 March 2020
We Are Waterloo Ltd
Directors' Report
The directors present their report and financial statements for the year ended 31 March 2020.
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For the year ended 31 March 2020
We Are Waterloo Ltd
Directors' Report Continued
| Principal activities |
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For the year ended 31 March 2020
We Are Waterloo Ltd
Directors' Report Continued
| Celebrate & Promote: Marketing and Promotion Marketing Waterloo remained a key priority for BID staff. By continuing to work with dedicated social media agency, Hudson Fuggle, online engagement continued to grow. As part of this content, the teams worked together in order to create monthly instances of rich content in the form of original, topical videos approximately 1 min in length/each. The Food Festival kicked off the year as Waterloo Food Fortnight with a refreshed 90s brand and reduced timetable of one month to two weeks in order to fortify the offer. The kick-off event, stylized as a large scale 90s day to night street party, included a closed off street which featured local restaurants and market traders from the Lower Marsh Market. In addition to cooking demonstrations and screenings, the event also included an extended live music component - which drew in an international sponsor - and kept the crowds satisfied until late. The events portfolio grew throughout the year to include additional instances of a new staple event: Pow Wow Waterloo, designed specifically for the purpose of introducing Waterloo to new, young and diverse audiences. In June, Pow Wow Waterloo kicked off with 'Sobriety over Hanxiety,' an event which explored socializing without alcohol. This was followed in October by the extremely well attended '13% Creative' - which also included a specially curated art exhibit - and focused on a lack of black representation in the creative industry. To celebrate Christmas, the BID partnered with neighbouring BID, South Bank BID, to produce the second instalment of Miracle on Leake Street: an alternative format Christmas event which this year grew to include extended drag queen performances, giveaways, Santa's grotto, a turntablist lab and capped off with a screening of Elf!, the movie. In January, the BID once again partnered up with VAULTS Festival, a 3-month long arts and entertainment festival, as the event's headline sponsor. This year's event included over 2,000 performances with over 75,000 tickets sold. As part of this partnership, the BID was able to host a dedicated event for BID members only, which took place in February in a private space within the festival and included free tickets to a show. This was the third year of the BID's members-only VAULTS event and far and away the most well attended with at least 100 people throughout the evening. Enhance the Environment: Public Realm The public realm continues to play a pivotal role of importance for the BID. Changes were made to a variety of schemes and contractors in order to continue to keep the neighbourhood clean, green and safe.It was determined towards the end of the 19/20 financial year that it would be possible to expand the neighbourhood cleaning output exponentially by switching contractors and moving to more of an in-house model. This was accomplished by bringing on ABM as a contractor which facilitated the BID to be able to provide an extra 1,272 extra hours of neighbourhood cleaning throughout this first year of the contract. In addition to this, the BID was able to increase the organisation's overall physical neighbourhood presence - and branded visibility - by having a dedicated and uniformed employee out regularly making cleaning rounds. After the success of this transition of contractors, ABM was also utilised in order to contract in-house staff for planting maintenance and neighbourhood greening towards the end of the financial year. In effect, these mutual transitions were able to work in partnership with one another by supporting each other, on the ground, with respect to supplies and coverage. Having these two services operate from more of an in-house model has also allowed the BID to divert funds to invest in large scale supplies for these teams. For the Christmas season, the BID experimented with a new format for the annual Christmas tree. In order to promote the sustainability profile for the organisation, the BID recruited a local artist who created a "Sustainabili-Tree" made out of discarded mailer tubes as an art installation. In addition to the Sustainabili-tree, the BID once again resurrected the festive-themed photobooth with a new look and theme for the year which channelled Elf!, the movie that was subsequently screened during the Christmas event. Within the year's planting portfolio, the barrel planters - which are located in clusters throughout the neighbourhood - were repainted and rearranged in order to better complement the surroundings. There was also more work to be done from the previous year's Mayor's Air Quality Fund grant, which supported the installation of Greenways interventions along Cornwall Road. This year saw the installation of a number of characterful planters along the Greenways route which are now actively looked after by both BID greening staff as well as locally invested neighbourhood groups. |
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For the year ended 31 March 2020
We Are Waterloo Ltd
Directors' Report Continued
| In order to continue enhancing the public realm offer, the BID capitalized on grant funded opportunities to create future pocket parks and acquired two different grants to do so: one for a pocket park on Baylis Road and another for a pocket park in front of McLaren House on Blackfriars Road. Both of these will be constructed in the following financial year. The free and reduced recycling service continued on successfully as a poster offer from the BID through a contract with First Mile. This year, the BID was able to continue enhancing cost savings for businesses enrolled in the scheme by switching to a pay as you go model. The scheme also grew to include over 200 businesses within the BID. The licensing, crime and security and hotels forums all continued on in their normal intervals. In addition to these, a monthly security briefing was added on for businesses in order to provide direct and regular contact with local law enforcement. Connect and Represent: Member Services This project category kicked off for the year with another successful iteration of the Waterloo Business Summer School - a partnership between the BID, Morley College and LSBU that is designed to provide free training resources for local workers - which grew this year to include additional businesses such as local gyms. The reasoning behind this year's expansion was owed to an increase in focus on mental and physical health. After the continued success of the mindfulness course within this initiative, the BID expanded instances of this mindfulness course that was then offered throughout the year during the typical lunch break hour. A further partnership with Morley College included the launch of the BID's first ever podcast, Views from the 'Loo as part of Morley Radio's regular roster of programming. The podcast gained fame and has quickly grown by engaging over 300 unique listeners. The podcast is utilised by the BID has a platform to get the word out about initiatives from local businesses and BID-based events. The CSR portfolio expanded greatly within the year and a specific CSR strategy was created in order to enable unique and timely connections between local charities and businesses. The BID also formally established the practice of engaging a charitable partner for all current and forthcoming events, such as the Annual Event, which took place during the autumn in the unconventional location of a barn. In the winter, the BID once again hosted a donation drive and collected over 1,000 Christmas gifts that were then distributed amongst local Waterloo-based charities. Business Matters Breakfasts continued throughout the year as a means of dispensing helpful information on topical issues, such as Wellbeing in the Workplace. The BID also continued its investment of EmploySE1, the free recruitment service offered to BID member businesses that is designed to connect local people with local job opportunities. On the business lobbying front, planning applications were continually monitored in order to ensure that a watchful eye was kept on forthcoming changes within the neighbourhood. |
Directors
The directors who served the company throughout the year were as follows:
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For the year ended 31 March 2020
We Are Waterloo Ltd
Directors' Report Continued
| Mr Michael Johnson (Chair) |
Signed on behalf of the board of directors
| Date: |
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For the year ended 31 March 2020
We Are Waterloo Ltd
Independent Accountants' Report
| As described on the Statement of Financial Position you are responsible for the preparation of the financial statements |
| for the year ended 31 March 2020 and you consider that the company is exempt from an audit under the Companies |
| Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to |
| assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations |
| supplied to us. |
Counterculture Partnership LLP
Unit NH.204
E1 Business Studios
7 Whitechapel Road
London
E1 1DU
| Date: |
01 November 2020
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For the year ended 31 March 2020
We Are Waterloo Ltd
Income Statement
2019
| £ |
2020
| £ |
| Turnover |
(534,619 )
| Cost of sales |
(516,982 )
Gross profit
| Administrative expenses |
(133,490 )
(122,149 )
Operating profit
| Other interest receivable and similar income |
Profit before taxation
Profit for the financial year
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| Registered Number : |
| As at |
We Are Waterloo Ltd
Statement of Financial Position
| £ |
| £ |
2019
2020
| Notes |
| Fixed assets |
| Property, plant and equipment |
2
| Current assets |
| Trade and other receivables |
3
| Cash and cash equivalents |
| Trade and other payables: amounts falling due within one |
| year |
(165,903 )
(270,108 )
4
250,047
Net current assets
| Total assets less current liabilities |
Net assets
| Capital and reserves |
| Retained earnings |
Members' Funds
| b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of |
| each financial year and of its profit or loss for each financial year in accordance with the requirements of Section |
| 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial |
| statements, so far as applicable to the company. |
| Mr Michael Johnson (Chair) |
| These financial statements were approved and authorised for issue by the Board on |
| The notes form part of these financial statements |
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For the year ended 31 March 2020
We Are Waterloo Ltd
Notes to the Financial Statements
Statutory Information
| We Are Waterloo Ltd is a private limited company, limited by guarantee, domiciled in England and Wales, registration |
| number 04381162. |
| Registered address: |
Build Studios
203 Westminster Bridge Road
London
SE1 7FR
| The presentation currency is £ sterling. |
| 1. Accounting policies |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
| modified by the revaluation of certain assets. |
Revenue recognition
Property, plant and equipment
Computer Equipment
Furniture and Fittings
Taxation
| The company is exempt from Corporation Tax by virtue of its not-for-profit status, and by agreement with HM |
| Revenue & Customs. No charge for Corporation Tax is therefore reflected in the financial statements. |
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For the year ended 31 March 2020
We Are Waterloo Ltd
Notes to the Financial Statements Continued
| 2. Property, plant and equipment |
| Total |
| Computer |
| Equipment |
| Furniture and |
| Fittings |
| £ |
| £ |
| £ |
| Cost or |
| valuation |
| At 01 April 2019 |
| Additions |
| At 31 March 2020 |
| Provision for depreciation and impairment |
| At 01 April 2019 |
Charge for year
| At 31 March 2020 |
| At 31 March 2020 |
| Net book value |
| At 31 March 2019 |
| 3. Trade and other receivables |
2019
2020
| £ |
| £ |
| Trade debtors |
| Other debtors |
| 4. Trade and other payables: amounts falling due within one year |
2019
2020
| £ |
| £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
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For the year ended 31 March 2020
We Are Waterloo Ltd
Notes to the Financial Statements Continued
| 5. Related party transactions |
| Build Studios Limited (BSL), a company limited by guarantee, under joint control by WeAreWaterloo (WAW) by virtue |
| of having common directors. |
| WAW licences its operating premises from BSL for which fees totalling £27,791 (2019 £28,122) were paid. WAW |
| has also provided working capital to BSL during the period and amounts due to WAW at the year end were £9,373 |
| (2019 £69,373). |
| Lower Marsh Market Ltd (LMM), a company limited by guarantee, has an operating agreement with WAW and |
| common directors. |
| WAW charged management fees of £15,000 (2019 £20,000) to LMM during the period and amounts due to WAW at |
| the balance sheet date were £4,525 (2019 £5,847). |
| 6. Average number of persons employed |
During the year the average number of employees was 4 (2019 : 5 )
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