Zero-1

There was a discussion starting here:Vulcan XH 558 Threads (merged) which expressed concern about some of the information in the last accounts and the lack of explanation surrounding some items.

I didn't see the original discussion but...

Vague concerns again…please be specific?

You can see I didn't understand the salary bill or why the doctor was paying himself £72,000. Others had other concerns.

What is the problems with the salary bill and £72k is, I would guess the going rate for a CEO of a multi-Million pound engineering company… What other concerns?

I know the accounts for the last year ending in October 2010 do not have to be in until July, but why should supporters have to wait until then? The more transparent and current the accounts the more likely supporters are to believe their money is being well directed and hence give again.

As I have already said the Trust team is very small and other things can take precedence and time… it’s a matter of priorities...the aircraft comes first...

As for the threatening marketing, it just grates with me. Accentuate the positive, eliminate the negative please.......

They tried the drip feed scenario last year and it didn’t work not enough money came in hence the cash shortage again this winter.... and the crys for help..

This country, I'm afraid only really responds to a panic scenario

srobarts

The salary and wages went from £329,233 in y/e 2008 to £642,680 in y/e 2009 whilst the average number of employees of the trust went from 23 in y/e 2008 to 17 in y/e 2009 meaning that the average salary/wage nearly doubled in one year - it is not a lot to ask for an explanation.
As far as the £72,000 goes, this is a charity and not a profit making multi-million pound engineering company - the figure to my mind is way out of line for a charity of this size.

What better time to be getting the accounts finalised than during the winter months rather than the display season when the focus should be on other things.

Zero-1 Your loyalty to the trust is a credit to you but the trust owes it to its loyal supporters to be more open with them.

Zero-1

I am going to have to back off on this because although I could probably hazard a guess on the some of the wage hyke, I would be getting into dangerous waters of breaching my CA and as you say this sort of explanation should come from the Trust, not an ex-employee who doesn't have all the facts...but will add one little fact.... Contractors and Consultants..

Evanelpus

srobarts makes some good points.

The fact remains that there are more than a handful of people who don't feel the Trust have been as transparent as they should be. Others hear about this and also adopt a mistrust attutude and so on and so on.

VTTS is a charity first and foremost and as such should be more transparent with their dealings than your average small engineering company and that's all I am going to say on that matter.

Jig Peter

Can you please arrange that pages after 160 can be accessed? Since 13th April, each time (even including using the "Go To" arrow) I try to get pp 161 and onwards, I can't get beyond p. 160.
Sorry to intrude, and thanks in advance.
JP

DHfan

I suspect the forum software has gone mad - or has a glitch, and pages past 160 don't actually exist.

Evanelpus

Logic tells you they don't exist.

Yours is the last post of page 160 at 15.57hrs. There is no way 4 more pages can exist after that, even PPRuNe can't achieve this............or can they?

jumpseater

There is no way 4 more pages can exist after that, even PPRuNe can't achieve this............or can they?

Perhaps Pprune is just getting the paperwork set up in advance. Every days a learning day ...

HOUSE BOAT

I cannot access anymore, even htough the pages go up to page 164, as I write this?

cordless

The Vulcan to the Sky Trust

has a management team led by Dr Robert Pleming as Chief Executive, which meets on

approximately a monthly basis.

The Trust had 17 full- and part-time employees as at 31s' July 2006 plus a number of

contractors and consultants; the number of employees has remained at 17, although there are now less full-time and

more pa

rt-time employees.

Vulcan to the Sky Enterprises Ltd (VTSE) is the wholly-owned trading subsidiary of VTST, and is managed by Dr

Robert Pleming as its director. VTSE covenants its profits to VTST under the Gift Aid scheme.

R Pleming, a director of Vulcan To The Sky Enterprises Limited, which is 100% owned by Vulcan To The Sky

Trust, is also a director of RW Pleming Consulting Limited. During the year ended 31 July 2007, Vulcan to the

Sky Trust paid RW Pleming Consulting Limited an amount of £38,141 including expenses (2006: £91,760) for

consultancy services.

Audax

Airborne today, came through Linton (& I believe Church Fenton)

hurn

Yes there was a crew currency flight and display practice over RAF Church Fenton. I believe they may have done a circuit or two over Elvington as well.

Ripline

Airbourne today at the Abingdon Air Show - O, that Vulcan Howl sound - right up there with the Hunter Blue Note and the Merlin chat......

It left Mrs Ripline with tears running down her face and not even she knew why.

Ripline

EGGP

i received this email a couple of days ago it looks like the end may be near,


Dear Supporters and members of the public,
In light of the significant shortfall in the current funding appeal closing at the end of this month, I write to inform you that following discussions this week with the Chairman and Vice Chairman of the Trust, I have been asked to convene a meeting of the Board of Trustees for Wednesday 25th May. At that meeting, the Board will review the financial standing and forecasts of the Trust and agree the options available to us.
I am delighted with the progress made in recent months towards securing a much brighter financial future for XH558 at Robin Hood Airport.
However, we are currently paying out rather more money each month than we are receiving. With the current appeal stalled, the cash reserves raised in this and previous appeals have dropped to a level which will sustain our operation for just a few more weeks. As the result, the Board are obliged by law to discuss and agree the way forward.
XH558 has now flown for three-and-a-half more years than anyone ever expected, through the sheer hard work and determination of many, the support of key companies, but above all, with the many thousands of kind individual donations from you – the members of the public.
As the custodians of XH558, the Board will reach the best decisions for her long-term future, but the need to conserve cash now casts doubts about her current flying plans, and the costs of keeping her airworthy.
We continue to put all our resources, and those of the Board, into seeking solutions. Specifically, we are searching for "White Knights" who could bridge the financial gap we see until the new revenue streams at Robin Hood commence in the autumn.
We will write again next week, detailing the conclusions of the Board meeting and the decisions made as a result.
Yours sincerely,
Robert Pleming
Chief Executive

andrewmcharlton

What a shock, who could have forecast this.....

coughing corner

robin

I see they have now extended the deadline to the end of July to raise the remaining £150k.

Should be achievable but I guess they have been taken aback that the 'back us or the Vulcan get it' appeal has failed.

As I said before, it isn't really a business plan for a going concern.

A2QFI

I do not want to be seen as a killjoy, far from it. I have followed this thread since it started and, to be very simplistic, I think the questions are:-

1.What does it cost to manage, service, maintain, insure and fly the Vulcan?

2.What income or support in kind is received from its operation and appearance at Air Shows?

So long as 1 is greater than 2 there will be continuous requests for contributions to keep the project limping along and it cannot survive on that financial structure.

Winco

A2QFI

The problem is that you can never give a definate answer to '1' for all of the understandable reasons that anyone in aviation knows about.

The concern for me is that the person who keeps coming up with answer to '1' is, has, has always been and continues to be so far off the mark, that his estimates are a joke.

That person might NOT be Dr P, but as the head of this out5fit, Dr P has to carry the can.

Clearly they have finally appreciated that the annual ransom threta just 'aint going to work this time, hence why the deadline has been extended. As Robin says, there is no clear business plan and it a 'rudderless ship' in a stormy sea of recession, attrition and everything else.

Unless Dr P gives up control to someone with a proven track record, it is difficult to see how the great British public can be persuaded, for another year, to part with their (very) hard earned cash!

andrewmcharlton

Quite apart from the good Doctor's failure to fall on his sword the thing that grates is the whole "The People's Aircraft" statement. In fact it is now mortgaged to both Marshalls and Whalton's company from memory meaning it's been hocked off twice over.