Tuesday, April 22, 2014

Competition accounts 2013-14

I want to make this quick, so I'm only going to use round figures here. The accounts are submitted in detail to the IRS as part of my trading company Object Tree Ltd.

The entry fee was £6 this year and all went through Submittable .com, which takes about a dollar per entry. I created the Southernmost Point poetry collection out of the proceeds of the competition, as well as the competition anthology New Short Stories 8. There were 381 entries, resulting in an income of just under £2,000 plus sales of books at the event of £70. Out of that take cash prizes £600, and two books including copies for authors and contributors, which came out at approx £400 each, all told. That's £1400 roughly accounted for. I also paid for my web server, which hosts the websites for Willesden Herald and New Short Stories, out of the money; that's another £270 (Webfusion VPS starter pack annual price). That leaves us with £400. The venue was £45, wine/water/nibbles £65, leaving us with £290. Mugs and p&p take us down to about £200. Although we're in the black this year, this can be balanced against losses in previous years, I think. Only ever wanted to break even and it appears I have done so, or a little better. So that's that. :)

P.S. The accounts for 2012-13 were published in updates under the Kickstarter book project for that year. Actually I see we were £140 in the black then as well. So that's good. I've spent a fair bit on software that I use and plugins for the WordPress site, which I probably haven't counted, so there's not a lot in it either way. You can find other previous years' accounts by clicking the accounts tag.