year ended March 2010
As I write this we are preparing for our fourth Annual General Meeting, the magazine having begun life in 2006. Littleport Life issues 13 to 16 inclusive were published in the year in question and a further three have been published since.
The Magazine benefits from a small, strong, volunteer Editorial Team who are determined to keep producing a good quality community magazine profitably and my thanks to them for sticking together and being such a pleasant and tolerant bunch to work with. Innovations during the year were the introduction of a Directory of Advertisers and an abridged version of Parish Council meeting minutes.
As you will see from the Treasurer’s Report we continue to work effectively towards increasing our income to match, and hopefully overtake, our expenses. We are grateful for the paid or unpaid efforts of others, however small, and for the cooperation of various organisations in the production of the magazine.
“participate not just by reading the magazine but by writing something to entertain, interest, educate or help others”
We want you, the readers, to participate not just by reading the magazine but by writing something to entertain, interest, educate or help others through this tough economic period for the country and by telling us what you think about the magazine.
Oh, and quite unexpectedly, at the Cambridge Building Society Community Magazine awards for 2009 the magazine won the silver award for ‘low frequency’ magazines. This will not go to our heads. We will continue to concentrate on quality, continuity and profitability.
Tom Milner, (Chairman)
Treasurer’s report for the year ended 31st March 2010
Advertising fees £5,120.22 £3,452.18
Other income £ 100.00
Total income £5,120.22 £3,552.18
Magazine printing £4,376.00 £3,851.00
Distribution & delivery £1,134.19 £1,077.83
Admin expenses £ 131.66 £ 94.93
Editor fees £ 250.00
IT £ 237.60
Total expenses £5,641.85 £5,511.36
Loss for the year -£521.63 -£1,959.18
Bank Account £4,040.84 £4,859.99
Debtors £ 354.00 £ 185.30
Creditors -£ 136.30
Receipts in advance -£1,138.00 -£1,130.52
Funds as at 31st March £3,256.84 £3,778.47
Littleport life magazine lost £521.63 in 2009/10 – an improvement on the previous year loss of £1,959, a result of increased advertising revenue and volunteer help. Advertising revenue increased by 44%, thanks to increased efforts by the editorial team, and the magazines’ success attracting unsolicited advertisers.
The size of the magazine has increased from 52 pages to 56 pages and the number of copies distributed has increased from 3,500 to 3,650. This has meant printing costs have increased by over 13%. The editorial group obtain quotes for printing the magazine, ensuring printing costs are competitive.
The magazine is delivered by volunteers and charitable organisations based in Littleport and is administered by volunteers keeping administration costs very low. Volunteers are reimbursed for their expenses and the charitable organisations, Branching out, Scouts, Guides and YPL, are paid a nominal amount.
Looking ahead to year 5:
The editorial group decided to increase advertising fees by an average 5%; the first increase for over 2 years. It is expected that the loss for year 5 will be around £50. The editorial group has decided to work on a website for the magazine to be launched in March 2011 with a view to increase advertising revenue.
The 2009/10 accounts (to the right) have been independently inspected and approved by David Clarke of Ledgerline, Ely Cambs.