Tuesday, September 14, 2010

Last year's competition accounts (2009/10)

When we added an entry fee last year, having no sponsor for the prize money, I promised to publish the accounts for the competition.

Paypal commission: £93
Book setup and buy 36: Approx £200
Event booking (Charles Dickens museum): £206
Prizes: £600
Books for contributors, extra 10 mostly overseas through Amazon, approx: £100
Postage: £18
Wine: £60
Bank charges p.a. (£5 x 12): £60
Web hosting (Pipex Webfusion incl. database and PHP support): (£17.99 x 12): £215.88
Domain registry: £10 approx
Total: £1562.88 (approx.)

Entries: 310 - 16 no pay - 4 test = 290 x 3 = £870
Sale of books at launch: 10 x £10 = £100
Wine fund contributions at launch: £34
Contribution from shared web hosting for WGwg: £25 approx
Amazon Associates commission on book links: £40 approx
Google Ads: £40 approx (not receivable till £60)
Total: £1109.00 (approx)

The inscribed mug is donated by Object Tree Ltd. gratis. Loss therefore in the region of £450 all picked up by Object Tree Ltd, for which I am of course extremely grateful. Thank you Object Tree. Don't mention it Willesden Herald. 

Where we miscalculated badly last year was in the cost of the results event. Thought that was sponsored but it wasn't after all. However friends did help a lot with the organising and running of it. Willesden Green Writers' Group has stepped in to sponsor next year's event, so hopes are high that ends will meet this time.

Of the 36 books bought at cost, most went gratis to contributors. 10 were sold at the launch. 7 authors came to the launch. Several of the contributors (overseas etc.) got their copies sent via Amazon.

I don't get any money from book sales, unless I buy the books at cost and sell them direct, which I could but I don't except for the launch event. Pretend Genius is part sponsoring this year by selling the anthologies and forwarding the entry fee for anyone who wants a free entry with each anthology. The accounts are part of Object Tree Ltd, all audited and submitted to the tax inspectors.

Pretend Genius, the publisher of the anthologies, is a registered not-for-profit organisation in the US.

Willesden Herald does not receive any public money. The organising and reading for the competition are on a voluntary basis. Sometimes if we have helpers they get a WH mug (not the priceless inscribed one). The links at the side of the blog to books on Amazon and Google Ads earn a little money (see above) towards running expenses.

There. I hope that's clear. If there are any questions I will try and answer them. I hope you can see that it's still for the love of the short story. (Ossian)

P.S. About the bank charges. The competition had its own bank account with Lloyds last year, which cost £5 per month. Having seen marvellous offer of free business banking from Alliance & Leicester (now Santander), thought that would be good for the competition account and duly switched over. Unfortunately the small print says that banking is only free if you deposit £1,000 per month. What it really costs is - have you guessed? - £5 per month. Doh! Have since moved it again, this time into main business account so it's "sort of free" now (some months!)

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