The Livingstone House report summarizes the business performance and operations in 2009. Income averaged £4,000 per month but expenses were higher, requiring a £4,000 cash injection. Business was slow early in the year due to cancellations from the credit crunch but picked up in the summer with more students. The latter half of the year was busier. The report predicts monthly income of £5,000-6,000 in 2010 and states the goal of self-sufficiency by the end of the year.

1. LIVINGSTONE HOUSE REPORT 2009 25 JAN 2010
1) Business very slow at the beginning of the year with several cancellations due to the credit
crunch .Notably one Korean student group of 20 students for 3-6 months which would have
grossed us around £18k/month (£12k net).
2) Most of our income was from the regular sources of Bromley Church room hire, workshops
and yoga groups and Venture Graphics.
3) Income averaged around £4k per month with expenses slightly higher due to high utility bills
and repair costs. We needed a cash injection of £4k from HQ to help us at one point.
4) As well as replacing the main boiler for CH we also laid a new dining room floor and started
work on a new fire alarm system.(£12k)
5) We had lost most of our students at the beginning of the year either because they returned
to Korea or relocated to the student house in Lewisham. Summer however saw us begin to
pick up with more students making use of LH.I think it fair to say by focusing more on taking
care rather than getting money we were able to attract more business.
6) We had a return booking of 2- Spanish students wanting to learn English who also brought 2
friends with them. These 4 students made us a profit of £1800 over three weeks. There is
good potential in the English language business.
7) Also this year we have had some regular non-UC people living with us which is good.
8) The latter part of 2009 was busier with workshops and meetings for European office and
Seminars and this continues to be our bread and butter income. We also utilised some our
guest rooms for B&B which has proved useful.
9) We always seemed to struggle this year and yet somehow we could keep going.
10) From 2010 our average monthly income should be around £5-6k. We have had already a
better start with short stay Korean students netting us around £2.5k. ...small potatoes but an
improvement on 2009.
11) We will pay £500 per month to HQ from January as a nominal amount to repay the £4k from
last year and contribute something to HQ. Self-sufficiency is our goal by the end of 2010.
12) We would like to continue taking ownership for the day-to-day repairs at LH and also to fund
larger upgrades of kitchens, bathrooms and toilets.
13) At the time of writing we heard of the pending visit of Hyung jin Nim. If this is the case we
need to make preparations to receive them and would need an extra (young) couple as staff
to make the necessary preparations.
Kind regards,
Bernard Chellew