Download Annual Review 2014
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CONTENTS 01 Chairman’s Statement 2 02 Chief Executive’s Statement 3 03 The Odyssey Way 4 04 W5 Achievements & Performances 6 05 Odyssey Arena Achievements & Performances 10 06 Corporate Social Responsibility 14 07 Trading Activities 15 08 Corporate Governance 16 09 Overview of Financial Statements 16 10 Boards of Trustees / Directors & Executive Team 18 1 Chairman’s 01 Statement I am pleased to for its financial support in establishing W5 as one of established by the Board to meet the challenges and present the Annual Northern Ireland’s leading science education facilities. opportunities over the remainder of the decade. The Report of The organisation’s Business Plan is focused on turning the Odyssey Trust The Odyssey Arena recorded another good performance strategic direction into a three year action plan for Company Limited in the year helped by a significant investment in the new delivery. (“Odyssey Trust”) theatre format. This opened to much success with a nine together with show run of Riverdance. This theatre format has proven As a Charity the Odyssey Trust is committed to its an Overview of to be popular with artists, promoters and fans. The founding principles. The Boards of the Odyssey Trust the Consolidated Odyssey Trust plans continual investment in the Arena Group, are dedicated individuals who give their input Financial Statements over the next few years. on a volunteer basis to deliver on this commitment. for the year ended Management and staff, under the leadership of the 31 March 2014. The Belfast Giants Ice Hockey Team, owned by Odyssey CEO Robert Fitzpatrick, have shown great pride in the Millennium, won the Elite Ice Hockey League in record organisation by working together to serve its needs. I W5, aided by an investment programme, had a very time and reached the Finals of the other two main league thank them all for their achievements and commitment successful year. In tandem with European Funding competitions. A significant increase in season ticket during the year. supported by the Northern Ireland Tourist Board, the holders contributed to total attendances during the year Odyssey Trust developed a new exhibit in W5 called of over 100’000. On a sad note Todd Kelman, the General I have had the privilege to be Chairman of the Board for ‘Climbit’. The exhibit has proved to be a wonderful Manager and former player, left the organisation. Todd was the last four years. As I step down from this position on addition to the Science Centre. In addition, the instrumental in the success of the team over many years. 31 March 2015 I wish to thank my fellow Trustees for their redevelopment of the “Under 8 Area” into “A Town Called He was very popular with everyone in the organisation contribution, support and counsel. Discovery” also contributed to a very successful year. and the supporters. I wish him well in his new position in Cardiff. I wish Eric Porter success as he takes on the role of I am also pleased to report that the Stemnet contract Chairman. He is ideally qualified to chair the organisation has been extended for another year until March 2016. The Odyssey Trust continues to play its part in assisting through the next phase of its development. I congratulate the team for their commitment and in a resolution to the continuing Administration of the dedication in delivering Stemnet at W5. STEM continues to Odyssey Pavilion. It is hoped that this can be resolved I am delighted to have been of service to the organisation be at the core of the W5 experience and is central to the during 2015. The Pavilion, which is in need of significant and am confident of its continued success. on-going development of the facility. investment, will hopefully become, once again, a vibrant destination for families. BRIAN BURKE With effect from 1 April 2015, the annual subvention from Chairman, the Department of Culture, Arts and Leisure (“DCAL”) During the year the Board undertook a strategic review The Odyssey Trust Company Limited will cease and W5 will be funded solely by the Odyssey of activities resulting in a 2020 Vision Strategic Review Trust. I would like to take this opportunity to thank DCAL Report. The report outlined the four strategic priorities 2 Chief Executive’s 02 Statement Another year of Hockey Operations and have big plans for the commitment that Brian has made to the Odyssey Trust. at Odyssey has development of the sport. I know that I will miss his comradeship, direction and brought a number advice and I wish him well in the future. of significant On a sadder note we said goodbye to Mr Todd Kelman developments as who moved to Cardiff to take ownership control of the I think that 2015 will be a transformational year for The Odyssey Trust Cardiff Devils. Todd was central both as a player and Odyssey and I believe that the customer will benefit continues with its as a manager to the success of the Belfast Giants and I greatly from some of the initiatives that are planned. mission to deliver on wish him well in the future. Our customers are at the core of our existence and we its founding principal look forward to welcoming you in 2015 to enjoy which is core to all W5 continues to grow from strength to strength and Your Odyssey. that we do. I am delighted that the Stemnet contract has been extended for another year. We have invested heavily in Thank you for your support. In the past number of years we have worked hard to the product and the unveiling of the permanent integrate the product offering at Odyssey and whilst Climbit Exhibit and the redevelopment of the Start ROBERT FITZPATRICK the continuing stalemate in the redevelopment of the facility had W5 achieving record numbers of customers Chief Executive, Pavilion continues to frustrate, we have had some very old and new. The Odyssey Trust Company Limited notable achievements. I am also delighted that W5 remains at the forefront of Our Arena business anchored by our Belfast Giants Ice provision of science education and have a very exciting Hockey Team had another good year. Although touring programme of events for next year. activity had pulled back slightly, we have invested heavily in the Arena offering a new theatre set up that has gone Of course none of this would be possible without the down very well with artists/promoters and customers passion and experience that a great management team alike. I am also excited by the Arena Development Plan brings. Odyssey is indeed served by a group of people that will ensure that the Arena continues to be one of that strive every day to deliver the best service and the best facilities in the world. embrace our core charitable objectives. It is a team that I am very privileged to lead and I want to congratulate The Belfast Giants had an outstanding year. They won all of them on their achievements in 2014. the Elite League in record time and reached the final of the Challenge Cup and end of season play offs. We I also want to pay tribute to my retiring Chairman, Mr welcomed back Mr Steve Thornton as our new Head Brian Burke. Few people will know the effort, time and 3 The Odyssey 03 Way The development of our product offer, visitor WHAT WE STAND FOR: to significant investments across these to further experience and employee experience requires a clearly develop the experiences we provide to our visitors defined vision that can underpin the delivery of the We are proud to be Northern Ireland’s leading provider and employees as well as ensuring we maximise the ‘best day out in Northern Ireland’ aspiration set by of entertainment experiences. charitable and commercial potential they together the Board and provide a standard against which all represent. decisions, investments and actions can be judged across Across our portfolio of brands, we seek to develop all of our brands. The Odyssey Way is not just about visitor experiences, from first point of contact to long ARENA RE-LAUNCH (2015) what we do but is also about how and why we do it. after the visit ends, that consistently excite, exceed It is about the development of a consistent ethos and expectations and keep our visitors coming back time Maintaining and building on the Arena’s position in the culture across every aspect of our business. and time again. Top 25 Arenas of the World will require a significant refresh of our facilities, the ongoing attraction of WHY WE EXIST: HOW WE WORK: outstanding content, the delivery of excellent customer experiences (from engagement to post-event) and the We are a Northern Ireland charity, committed in our We believe that what matters most to our visitors harnessing of new technologies to enhance customer responsibilities to: is the experience. This is focused on how we make engagement, loyalty, insight and education. As anchor every visitor feel before, during and after the time they tenant, the Belfast Giants will continue to pursue on • hold, manage, safeguard and develop the investment in choose to spend with us. and off ice success. the Odyssey Project for the benefit of all the people of Northern Ireland. We are dedicated to the quality of our offer, investing W5 RE-FRESH (2015-17) in its ongoing development and refreshment and in the • advance public education and manage a science centre safety of all our visitors and staff. Building on the recent success of Climbit and the re- which will contribute to the scientific knowledge of the launch of the Discovery zone, W5 will further enhance people of Northern Ireland; and We are committed to our role in society and to its reputation as the leading science centre on the providing the people of Northern Ireland, and visitors island of Ireland through the development of a new • provide facilities for recreation and other leisure time alike, with experiences they value as time and money sensory experience zone for early years, special needs occupation in the interests of social welfare with the well spent.