BUILDING ON BRADFORD TRIDENT DAVID MOSLEY EXECUTIVE OFFICER
BUILDING ON BRADFORD TRIDENT DAVID MOSLEY EXECUTIVE OFFICER – ASSETS & FINANCE 4 DECEMBER 2008 www. bradfordtrident. co. uk 1
HISTORY l l l 2 LEVERAGE STRATEGY DEVELOPED – Nov 1999 DELIVERY PLAN ASSET STRATEGY DEVELOPED – APRIL 2000 COMPANY LIMITED BY GUARANTEE – November 2000 REGISTERED CHARITY – January 2005 BRADFORD TRIDENT TRADING LTD – January 2005
REASONS FOR SUCCESS l l l l 3 STABLE STAFF TEAM (10 YEAR CONTRACTS) DYNAMIC BOARD CHAIR – SINCE SHADOW BOARD STRONG BOARD – TRUST/CONFIDENCE STRONG RELATIONSHIPS: BRADFORD COUNCIL GOYH LEVERAGED FUNDING ESTABLISHED “TRIDENT” BRAND USED PROFESSIONAL ADVISORS
WHERE ARE WE NOW? ASSETS WOODROYD CENTRE £ 680 K ERDF £ 3. 963 M NDC £ 800 K SURESTART £ 250 K £ 4. 25 M ANNUAL RENT BALANCE SHEET 31/03/08 4 - TOTAL £ 5. 443 M -
ASSETS MAYFIELD CENTRE £ 50 K ERDF TOTAL £ 2. 04 M NDC £ 2, 090, 000 £ 0 ANNUAL RENT £ 825 K BALANCE SHEET 5
ASSETS PARK LANE CENTRE £ 1. 05 M ERDF £ 890 K NDC - TOTAL £ 1. 94 M £ 0 RENT £ 2. 175 M BALANCE SHEET 6
CREDIT CRUNCH IMPACT ON LAND DEALS PENDING l l l PAKISTAN CONSULATE MIXED USE SITE 6 ACRE SITE £ 6 M (38 storey apartments, hotel, retail) 7 £ 400 K £ 350 K £ 2. 5 M MARCH 2007 £ 3. 25 M BUT WHEN? !
NDC PARTNERSHIP STRUCTURE NOW COMMUNITY MEMBERS POLICE HEALTH RSL FAITH VOL SEC LSC BUSINESS SCHOOL YOUTH CO-OPTEES 8 * Elected by postal ballot POST COMMUNITY COUNCIL 12* 3 1 1 1 2 1 1 3 ______ 25 6+6 ALTERNATES 2 1 1 1 2 0 2 1 1 2____ 19
BRADFORD TRIDENT TRADING LTD STRUCTURE l l INDEPENDENTS - 6 BT NOMINEES - 5 PURPOSE l UNDERTAKE NON CHARITABLE DEALS l CHANNEL FOR CONSULTANCY INCOME l GIFT AID SURPLUS TO CHARITY 9
STAFF TEAM 01/04/08 EXECS MANAGERS FINANCE/ADMIN WARDENS HEALTH* EXT SCHOOLS* (PROJECTED) 2 5 2 2 01/04/10 REDUNDANCY COSTS PENSION LIABILITIES * EXTERNALLY FINANCED 10 TUPE 1 1 2 4 2* 2*
FINANCIAL MODEL (NDC) TOTAL ASSET BASE 31/03/08 £ 9. 382 M RENTAL INCOME £ 350 K INVESTMENT INCOME (LEGACY) £ 600 K £ 450 K £ 300 K MANAGEMENT/CONSULTANCY FEES £ 50 K 11 6. 0% 4. 5% 3. 0%
DIRECTION OF TRAVEL FUTURE FINANCIAL MODEL POST NDC RENTAL INCOME OF £ 350 K (depends on voids & empty buildings business rates) INVESTMENT INCOME OF £ 200 K MANAGEMENT FEES/CONSULTANCY £ 50 K (dependent on external funding bids) PROJECTED INCOME _______ £ 600 K CHARITY/BTT RUNNING COSTS £ 50 K STAFF COSTS £ 260 K PROJECT SPEND £ 250 K PROJECTED EXPENDITURE ____ £ 560 K NET SURPLUS £ 40 K 12
POST NDC PROJECT ANNUAL SPEND PRIVATE SECTOR HOUSING £ 150 K (1 STREET) JOBS & BUSINESS £ 20 K CRIME £ 20 K YOUTH & EDUCATION £ 20 K HEALTH £ 20 K ENVIRONMENT £ 20 K £ 250 K 13
FIT WITH LAA/LOCAL PRIORITIES l l l 14 KEY STRATEGIC DELIVERY PARTNERS STILL ON BOARD CONTINUE COMMUNITY EMPOWERMENT (COMMUNITY COUNCIL) CONTRIBUTE TO SUSTAINABLE COMMUNITIES PLAN
BEST WISHES TO YOU ALL CLG – NDC SUCCESSION IS “DO-ABLE” BUT START NOW! VITAL TO WORK CLOSELY WITH ACCOUNTABLE BODY BT STARTED “TEST OF OCCUPATIONAL FITNESS” & WORKING WITH INTERNAL AUDIT IN JUNE 2005 15
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