QUARTERLY TRADING UPDATE, 1 JULY TO 30 SEPTEMBER 2022

Dear Investors

We continue on our rollercoaster of a journey here in Limpsfield, but despite the still very rocky road we are travelling in hospitality, there are lots of positives to tell you about…

Following completion of the quarter trading accounts, please find a high level overview from the profit and loss for the period 1 July to 30 September 2022.

The second quarter continued to be a challenging period: August was the worst month with a net loss of £8k, largely attributable to a rise in staffing costs due to our two assistant managers leaving the business and associated holiday payments, cover and the training of new team members. While we welcomed fresh faces to the team, this generally quiet month in hospitality – resulted in reduced income @ only £41k, down £6k on the previous month. 

Income for the period totalled £130k versus £155k for the first quarter, with cost of sales totalling £126k, down £11k on the first quarter. Operating expenses remained consistent at £21k including a £5k spend on light, power and heating. However, the significant decrease in income resulted in the aforementioned operating loss of £9k for the second quarter and a £4k loss over the first two quarters. Cash in bank @ 30 September 2022 was £88k.

This is a crucial time for us and the next quarter, known as the ‘Golden Quarter’, needs to generate increased sales to make up for the losses to date and to improve our cash position. We have launched our autumn menu to positive reviews and our Sunday menu continues to be extremely popular. We are feeling the impact of volatility in the political and economic landscape and although we have passed on a percentage of price increases we cannot continue to do so.

Call to Arms

We are trialling volunteering with investors and community members working front of house, in the garden and with maintenance tasks. Please contact Danny on management@thebullinnlimpsfield.com if you are able to support in any way. Volunteering will help us to control costs and will also help with the restricted labour market. Sadly, we are unable to pay in Bullion, as we had initially hoped, as this would fall foul of HMRC regulations. 

Increasing income is our number one priority, so if you can, please continue to support The Bull, take part in our events and visit regularly with family and friends by reserving your table here

What is Coming Up

To add variation to our food offering, the Venti Pizza Boys will be at The Bull on Wednesdays, lunch and dinner, from 9 November through to 23 November. Pizzas cost between £8 and £10 and can be enjoyed with a pint or beer in the pub or ordered as a takeaway option.

DeciBel will return on Sunday 30 October. Enjoy your roast with chilled music and relaxed vibes.

Community Tuesdays continue to be popular and thank you to Danny and Lauren who volunteer their time to welcome local groups. The events will kick off on 1 November when @themumclubtandridge will host their coffee club.

On 8 November the Oxted Women’s Business Networking Group will host, followed by @venusnutrition for menopause on 15 November. Please contact the groups directly if you are interested in attending.

Sam, our resident quizmaster will host our next pub quiz on Wednesday 2 November. Please contact Danny or Lauren to reserve your table at info@thebullinnlimpsfield.com or call 01883 713 469.

The Christmas festivities will commence on Wednesday 30 November through to Christmas Eve with Fausto’s take on a traditional Christmas menu. The menu will soon go live on our website. Danny will open the pub on both Christmas Day and Boxing Day from 1200-1500 for drinks.

Watch out for The Bull’s New Years Eve Party, priced at £32.00 per head. Canapés will be served throughout the evening, a DJ will play into the New Year and everyone can toast to 2023 with a free glass of champagne. Carriages at 0100, strictly ticketed so please look out for the release.

Save the Date, AGM 

The AGM will take place at 7.00 pm on 8 November 2022.  Please register your interest by email to info@enterprisinglimpsfield.com by 31 October 2022.

This will enable us to plan the logistics for the evening and send out an agenda in advance.

Thank you to everyone who continues to support us and we look forward to seeing you during the coming weeks. 

Kindest

Chis, Diane, Jacky, Jason and Sian

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: