We Are Waterloo Ltd

WeAreWaterloo is an organisation that works with and for local businesses in the Waterloo area. WeAreWaterloo is the trading name for We Are Waterloo Ltd (previously known until 18 January 2017 as Waterloo Quarter Business Improvement District Ltd). The company is funded by a levy on local non-domestic ratepayers, who vote every five years on whether or not to continue its activities. The five-year business plan sets out the work programme which is developed in more detail at the commencement of each financial year. WeAreWaterloo acts a collective voice for local businesses and operates across both London Boroughs of Lambeth and Southwark in an area located towards the south of Waterloo Station. The Company's legal status is that of a not-for-profit Company Limited by Guarantee, not having a share capital. The results for this year are disclosed in the attached Income and Expenditure account. Directors of the company The directors who held office during the year were as follows: Catherine Baroun (Hampton-by-Hilton) (appointed 21 Sep 2022)Magdalena Chapman (Walrus) Patrick Christie (London South Bank University) Charles Graham (LSBU) (appointed 21 Sep 2022)Michael Johnson (Nagan Johnson) - ChairGlenn Kesby (1901 Arts Club)Al Lewis (CAFOD) (Resigned on 21 Sep 2022)Felicity Maries (Oasis Waterloo) Eddie Nelms (Resident) Sarah Pittaway (Union Jack Club)Nick Rampley (Independent) - Vice Chair Hugh Rosen (Bourne Capital)Camilo Salazar (Morley College) Liz Sillett (Old Vic Theatre) Charles Tyler (Paladar) WeAreWaterloo was supported by the following staff resource:- -One full-time Chief Executive -One full-time Head of Public Realm-One full time Head of Marketing and Strategy-One full time Project Manager-One part-time Operations Manager-One full-time BID Security Manager-One part-time Digital Marketing Assistant Financial results Income for the 2023 financial year was £803,472 (2022 - £1,040,915) of which £760,768 (2022 - £874,916) represented BID levy income, the balance comprised grants, sponsorship and other income amounting to £42,704 (2022 - £165,999). Total Expenditure for the year was £859,772 (2022 - £752,907. Of this, £710,741 (2022 - £606,879) related to direct project expenditure and £149,038 (2022 - £146,028) to administrative and overhead costs. WaW has made an actual loss of £34,407 this compares to budgeted loss of £268,877. WaW runs in five year cycles, and therefore is required to have a set amount in reserves to incorporate winding up costs in the case of an unsuccessful reballot. Each business plan will aim to reduce the reserves to the required winding up cost amount.