I posted the following in the comments section, and reproduce it here as I was going to blog on this anyway, and don't see the point in writing it twice.
Twas always going to be a defeat, although I'm not going to pretend that 0.10% of the share doesn't sting a little.
However, at leat we had a crack and at least Tom had the cajones to stand up and do it. A few parties of similar size to us didn't give it a go.
Was Tom's age a factor? I'm afraid to say it probably was. It shouldn't have been, but this is politics. I wasn't exposed to any of the campaigning, but had I been up against us, the first thing I'd have done when asked about our policies would have been to gone, 'Libertarians? What, the 18 year old?' Harsh, but that's the way it works.
One of our greatest strengths; being untainted by the political class, is identitcal to one of our weaknesses, it means we have little experience in running an election campaign. It is only a lesson which can be learned with experience.
The news about a councillor resigning to join us is a very encouraging one, and perhaps give us an indicator of a strategy we should employ. (I'm assuming he's a councillor formerly with the Lib Dems rather than a former councillor who is leaving the Lib Dems - big difference).
I believe town, city and borough councils are the way to go early on, get good people good names on their own local streets. I would swap 1 MP for 10 Councillors in a heartbeat, as one councillor really can make a difference especially in a close NOC council, a councillor really can be accessible and really can generate a good rep for a party which would then be recognisable on a parliamentary ballot paper.
At the risk of labouring the point, I really do believe that the local level is the most important starting point, a good solid local level base is the foundation that a good MP is built upon. A good councillor will feed into the local MP so s/he really knows what is going on (that is of course on the understanding that a good councillor will actually give a shit what is going on on his/her patch) in their constituency. Strong, local and accountable representation is the best way to emasculate that palace of piggies sat on the Thames.