Please Mr Eavis roll our tickets over to 2022

[Brave Sir Robin]

28 minutes ago, squirrelarmy said:

Yeah I saw that. Thought you might have meant something more specific about this particular account.

[nikkic]

Spare a thought for the ticketless.

A cancelled 2021 would mean no Glastonbury for a minimum of 4 years! 

[Zacko]

I'm lucky to have a 2020 ticket, but I didn't get one in 2019 (so my last Glasto was 2017). Feels like an absolute eternity since I walked through those gates 😞 

[Deaf Nobby Burton]

Anyone know their accounting year end? They would’ve run at a loss in the last/current period so no issues holding funds, but if they cancel earlier this time with minimal cost, will holding deposit cash create some sort of artificial ‘profit’ they wouldn’t want? Or will they still likely be running at a loss anyway? Any accountants know if that’s an issue, and if so can it be mitigated against? In other words could it be classed as something else on their balance sheet (or left off entirely) and not revenue/assets?

Or if they lost money in this year, does that actually mean they lost more than the deposit value anyway? 

Edited December 21, 2020 by Deaf Nobby Burton

[Jcatley]

2 minutes ago, Deaf Nobby Burton said:

Anyone know their accounting year end? They would’ve run at a loss in the last/current period so no issues holding funds, but if they cancel earlier this time with minimal cost, will holding deposit cash create some sort of artificial ‘profit’ they wouldn’t want? Or will they still likely be running at a loss anyway? Any accountants know if that’s an issue, and if so can it be mitigated against? In other words could it be classed as something else on their balance sheet (or left off entirely) and not revenue/assets?  

The year end is March, so the latest accounts (not yet filed) would only go up to 31 March this year, so probably no effect of this year even shown!

 

In terms of the deposits, I imagine that they might be able to offset this with some sort of contingent liability of having to provide refunds.

[incident]

4 minutes ago, Deaf Nobby Burton said:

Anyone know their accounting year end? They would’ve run at a loss in the last/current period so no issues holding funds, but if they cancel earlier this time with minimal cost, will holding deposit cash create some sort of artificial ‘profit’ they wouldn’t want? Or will they still likely be running at a loss anyway? Any accountants know if that’s an issue, and if so can it be mitigated against? In other words could it be classed as something else on their balance sheet (or left off entirely) and not revenue/assets?  

31st March.

The last set of accounts were filed almost exactly a year ago (albeit much earlier than required), and so the new ones could go up any time.

[Deaf Nobby Burton]

19 minutes ago, Jcatley said:

The year end is March, so the latest accounts (not yet filed) would only go up to 31 March this year, so probably no effect of this year even shown!

 

In terms of the deposits, I imagine that they might be able to offset this with some sort of contingent liability of having to provide refunds.

 

18 minutes ago, incident said:

31st March.

The last set of accounts were filed almost exactly a year ago (albeit much earlier than required), and so the new ones could go up any time.

Thanks both, so the deposits would have been taken in their last accounting period, but they could’ve potentially deferred any costs into their current one of they needed to, and the current period would’ve been when they would’ve taken deposits for 2022 anyway, so basically very unlikely to be an issue.

Was just trying to understand in my own head if the relatively low spend this year cancelling early would create any problems for rolling over, but it doesn’t seem so. 

[Leyrulion]

42 minutes ago, incident said:

31st March.

The last set of accounts were filed almost exactly a year ago (albeit much earlier than required), and so the new ones could go up any time.

They will cover through to March 2020 so only really covering the 2019 event. It looks like they try to use March as the financial divider between fests, coincide with the financial year. We likely won't see public accounts for this year until December 21 to see the covid impact.

[Hugh Jass]

I actually emailed the festival over the weekend telling them that if they have to cancel then I would be happy to donate my deposit to help them out and pay a new one.

[kalifire]

2 hours ago, Hugh Jass said:

I actually emailed the festival over the weekend telling them that if they have to cancel then I would be happy to donate my deposit to help them out and pay a new one.

Ditto. They responded with a generic response, but we can't have have been the only ones. The message has been sent.

[Jack.194]

Almost certain they’ll roll over tickets again

[juuceman]

I'm anticipating an announcement of sorts by January 17th. 

[Leyrulion]

Here's a thought, if they roll over ticket again can I change my photo?

It's from 2018 and by 2022 with my lockdown weight and rapidly receeding hair it's not going to look like me! 

It'd be horrific to get through all this and be turned away for it not being my ticket. 😂

[eFestivals]

18 hours ago, Brave Sir Robin said:

Yeah I saw that. Thought you might have meant something more specific about this particular account.

Emily's words prove that account to be talking know-nothing bollocks. It's more than specific enough for that.

[eFestivals]

18 hours ago, Deaf Nobby Burton said:

Anyone know their accounting year end? They would’ve run at a loss in the last/current period so no issues holding funds, but if they cancel earlier this time with minimal cost, will holding deposit cash create some sort of artificial ‘profit’ they wouldn’t want? Or will they still likely be running at a loss anyway? Any accountants know if that’s an issue, and if so can it be mitigated against? In other words could it be classed as something else on their balance sheet (or left off entirely) and not revenue/assets?

Or if they lost money in this year, does that actually mean they lost more than the deposit value anyway? 

Pretty sure their year end is 31st March.

Glastonbury aren't holding the deposits as far as i know. I believe they're held in escrow by See, so are probably free of tax liability while sat there..

[guypjfreak]

12 hours ago, eFestivals said:

Pretty sure their year end is 31st March.

Glastonbury aren't holding the deposits as far as i know. I believe they're held in escrow by See, so are probably free of tax liability while sat there..

The wife worked out what they would be making on interest and its really minimal..... Would it not be easier for them to keep the money than to have to refund then with luck resale them..... 

 

[kalifire]

Still holding on to this as a choice for existing ticket holders. If it happens in 2021, I'm sure the majority will want to attend, but for some it will be unavoidably unsafe or impossible to get to. I'd like to think they'd at least provide an option for a 2022 rollover.

[Suprefan]

9 hours ago, kalifire said:

Still holding on to this as a choice for existing ticket holders. If it happens in 2021, I'm sure the majority will want to attend, but for some it will be unavoidably unsafe or impossible to get to. I'd like to think they'd at least provide an option for a 2022 rollover.

I say they give internationals higher priority for a rollover because of everything they would have to potentially endure to even attend.

[squirrelarmy]

I would potentially take the 2022 rollover option but not due to worries about vaccines or infections. 
 

I do have some pretty major surgery coming up next year and I still don’t have a date for it. Knowing my luck the festival will be going ahead as planned and my surgery will be scheduled for the middle of June. 

[Ayrshire Chris]

9 hours ago, kalifire said:

Still holding on to this as a choice for existing ticket holders. If it happens in 2021, I'm sure the majority will want to attend, but for some it will be unavoidably unsafe or impossible to get to. I'd like to think they'd at least provide an option for a 2022 rollover.

That’s a sensible idea. The sizeable international contingent add so much to the ethos of the festival and I can imagine how much they treasure the idea of attending.  If travel circumstances beyond their control prevent them being on the farm then give them the option to attend the next one. 

[Barney McGrew]

Something may happen this year but I'm certain it won't be what people have bought tickets for, on that basis, I reckon the tickets will roll over to the next one which I really, really, hope is 2022 (rather than 2023 or never).

[guypjfreak]

1 hour ago, Barney McGrew said:

Something may happen this year but I'm certain it won't be what people have bought tickets for, on that basis, I reckon the tickets will roll over to the next one which I really, really, hope is 2022 (rather than 2023 or never).

Yea something like the pilton party..... That'll be great for the area as well as those who get to go

[sophiemarie]

On 12/21/2020 at 10:37 PM, juuceman said:

I'm anticipating an announcement of sorts by January 17th. 

Any specific reason you think the 17th?

[MrBarry465]

Can they afford to roll tickets over again? I'd have thought they might give a 'rollover discount' option - where they give people who got tickets in 2020 preference first and at a discount. Then those who decide not to take this up, go back to general sale.

[dentalplan]

20 minutes ago, MrBarry465 said:

Can they afford to roll tickets over again? I'd have thought they might give a 'rollover discount' option - where they give people who got tickets in 2020 preference first and at a discount. Then those who decide not to take this up, go back to general sale.

We haven’t paid in full so it’s only deposits being rolled over. The tickets themselves can and will be at a mark-up on 2020 prices.

Edited December 30, 2020 by dentalplan