The Lundy Company Limited

The principal activities of the company are the administration of the island of Lundy, the management of 23 holiday properties and the carrying out of a programme of improvements on the island. During the review year, the company, whilst significantly impacted by the global pandemic,continued to pursue its core activities wherever possible under a restricted trading environment.For the 12 month period covered by these accounts, Lundy was closed to visitors and unable to carry out its principal forms of trading for a total of three and a half months, severely impacting on all trading revenue streams in the first quarter. Revenue streams bounced back in the remainder of the year due predominately to high occupancy as previously cancelled stays went ahead. In total £2,490k of revenue was earned from its operational activities (2020 period: £1,023k). To mitigate against lost revenue and increased costs from covid-19 enforced closures, alternative sources of funding were sought during quarter 1, including further access to some of the government’s Covid response schemes. During 2021 Lundy claimed £46k (2020: £118k) of government payments through the Job Retention Scheme; recognised income of £551k through the government's Cultural Recovery Fund (2020: £199k) of which £300k was awarded during 2020 for costs and activities during 2021. Cost of sale expenses were £713k for the year, (2020: £333k) the increase was drivenby higher levels of trading as well as increased pricing and additional covid-19 response measures. Administrative expenses were also significantly higher year on year, totalling £2,065k (2020:£1,250k). The increase in administrative costs can be attributed to rising costs such as fuel, higher levels of staffing and activity and higher levels of maintenance to the island during the year.