Ticket and Deposit Security
We have always tried to manage our business in an ethical manner as far as possible and continue to aspire to running WinterStorm and our other South Beach Sessions events in a way that our guests can be comfortable with.
Given the changes to our environment over the past few months we have made the decision to make changes to our holding of funds.
Tickets and Monies
We have always treated your ticket sales as a Current Liability – in essence that means that we do not see the ticket as a sale until the event has been and gone and only then do those funds become ours!
This has ensured that we have kept the ticket sales monies separate in our minds with the view that they may become repayable under certain circumstances. The “certain circumstances” hit us in 2020 for sure.
We decided that we need to create a more formal position for what happens to your funds on purchasing a ticket to ensure that you can be certain that your funds are safe up until the delivery of the event and will therefore be transferring all funds for current ticket sales into a new Client Account.
We have looked to find easy options but banks don’t do easy options anymore and we have therefore worked with our accountants to use a "Client Account" where all of our ticket funds will be deposited and only released on the delivery of the event.
This means that we have to ensure that we have funds available for the considerable amount of prepayments that we have to make including band deposits, marketing costs, staff costs and others but that is our operational issue and ensures that we make proper financial decisions relating to our events and planning.
It ensures that your ticket money will not be used to fund the operating costs of the business and will be ringfenced in the Client Account. In short, your ticket monies will be secured in the case of any catastrophic business activity.
The detail of the Client Account management is available on request but a client deposits detail will match the Client Account funds with each individual ticket purchaser and ensure that your funds are secured.
Some tickets include non refundable deposits or include bundled product such as merchandise. Only the refundable monies will be transferred to the deposit account as per the individual ticket or pacakge sold.
GDPR rules will be followed for data protection purposes.
What it Means for Postponements
This means that from the 1st of September 2020 all funds for tickets carried forward to 2021 will be put into the new Client Account held by our accountants Henry Brown and Co in Kilmarnock. This process will be embedded in our new detailed terms and conditions which will become an integral part of our contract with you.
We dearly wish you to roll your tickets over, not because we want to hold onto your money but because the cost of acquiring sales for an independent promoter such as ourselves may be ten or twenty times more expensive than for a large operator. We dearly wish to avoid the massive cost of reselling tickets again for 2021 that we had already sold once for 2020! The administration costs of refunds alone are frightening before we start on marketing costs, ecommerce and card charges and the rest related to new ticket sales.
Cancellation vs Postponement
We are trying wherever possible to roll all of our events over to a new date and this will mean that each event is being postponed rather than cancelled. If an event is cancelled this will mean the refund of monies directly to the ticket holder from the Client Account; if an event is postponed the ticket holder will have the right to a full refund without any question but subject to individual terms for each separate event. At no time will the customers’ consumer rights be undermined. On accepting the rollover of a ticket to the new date normal terms and conditions for each individual event would apply.
Legal Statement from Henry Brown and Co, Portland Road, Kilmarnock
As the accountants of Plan B Events (Scotland) Ltd, trading as WinterStorm and South Beach Sessions, we have agreed to accept the revenue from ticket sales for the company’s events to be deposited in the Client Account held with the Royal Bank of Scotland.
Under the terms of holding this account we can only release the funds on the completion of the event for which each deposit is held.
Should you have any further queries on any of the above please contact us by email using the link below