Registered charity number 1079166
Registered company number 03886503
The St James's Conservation Trust Ltd (A charitable company limited by guarantee)
Trustees' Report and Financial Statements
for the year ended 31 December 2023
The St James's Conservation Trust Ltd Report and Financial Statements Contents
| Page | |
|---|---|
| Report of the trustees | 1-8 |
| Legal and administrative information | 9 |
| Independent Examiner's report | 10 |
| Statement of financial activities | 11 |
| Balance sheet | 12 |
| Statement of cash flows | 23 |
| Notes forming part of the financial statements | 14-17 |
The St James’s Conservation Trust Ltd Trustees’ Report for the year ended 31 December 2023
The Trustees present their report together with the independently examined financial statements of the charity for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities Act 2011, the Companies Act 2006, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Objects and activities
The St James’s Conservation Trust works closely with the City of Westminster and English Heritage to bring attention to specific, locally relevant planning and design issues that will impact the extraordinary area of St James’s.
St James’s has one of the country’s highest densities of listed buildings of historic or architectural importance. It is one of the most interesting, eclectic areas of London and includes the ancient Palace and the historic 17th century St. James’s grid. However, the area is witnessing a period of great change. The Trust, being a local, expert resource, plays a crucial role in monitoring and giving guidance regarding the preservation and development of such an architecturally important area and trying to prevent some of the damage that has been done in the past from being repeated.
In resisting inappropriate new development proposals, the Trust always looks to initiate practical discussions with major landowners such as the Crown Estate as well as any independent developers and architects.
The area of benefit is a specified area in St James’s, London. In 2008, the Charity Commission consented to the slight extension of the charity’s Area of Benefit eastwards to include the east side of Lower Regent Street (formally renamed in 2014: Regent Street, St James’s). The charity’s area now more faithfully follows the boundaries of historic St James’s.
The charity considers, with the help of advisers, planning and licensing applications relevant to the area and responds to these where this is considered appropriate. It also produces architectural studies, amenity surveys and a reformatted Newsletter in the form of a 16 page “Review of the Year”, also posted on the Trust’s website: www.stjamestrust.org.uk
The Trustees confirm they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.
Achievements and performance
Planning and architecture
The charity’s main purpose is to promote high standards of planning and architecture and education about the historic St James’s core area.
During 2023, there were approximately 100 Planning, highways and licensing applications reviewed and monitored by the Trust’s advisors and Trustees for potential responses, including some controversial proposals, for which the Trust was consulted in advance by developer and project teams, including:
- No. 1 St. James’s Square: proposed re-purposed former BP HQ Building, with height increases, new façade treatment on retained structural frame and significantly larger external rooftop terraces outdoor space.
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The St James’s Conservation Trust Ltd Trustees’ Report for the year ended 31 December 2023
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The Ritz Hotel extension improvements, supported by the Trust, and in progress to help in the hotel’s viability, quality and the realisation of Caesar Ritz’s original symmetrical massing and craftsmanship.
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103 – 105 Jermyn Street (identified as a negative quality by the City Council Conservation Area Audit, approved by the Trust) is planning proposals for transformed contemporary façades (and increased height) and interior improvements, from the existing low quality 1970s brickwork.
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81 Jermyn Street – The 1960s Cavendish Hotel has made plans for future improvements inside and at ground level exterior façade improvements and access, which will be supported by the Trust.
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Piccadilly has seen an increased number of façade retention and improvement applications and developments in progress of historic buildings including “The site of the [former] Egyptian House”.
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10 Spring Gardens: delayed by the completion of Admiralty Arch improvement delays and sensitive security cordon measures. The proposed adaptations, (former British Council offices) are generally supported by the Trust, including major retrofitting of the existing offices of the existing 1970s building and improved accessibility and a new entrance arcade, new food and beverage ground floor use and alfresco dinning as part of an improved piazza area adjacent the Mall.
64- 65 St James’s Street: new proposed improvements and rooftop extension, terrace and new balconies – all of concern to the Trust and neighbouring properties. Objections were submitted and the City Council planning officers succeeded in securing a revised application with no height increase.
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50 St James’s Street remains incomplete at the time of writing, much delayed although with pressure from the Trust, externally completed with Listed façade cleaning completed, although ground level is still boarded.
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Norfolk House, a very large site in St James’s Square and Charles II Street, demolitions completed and major constructions continuing with the two key replacement replica brick façades completed.
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Pall Mall continues to have new and refurbished developments along the north side and applications for adaptations of commercial, some that also have frontages to the Southeast corner of St James’s Square, and which have been successfully integrated, and had been generally supported by the Trust.
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The Trust commissioned audit report, launched in 2022, on the height increases and rooftop terraces in St. James’s, which makes recommendations and guidance to control inappropriate designs. Many applications have been made since and some height increases proposed have taken notice of the Trust’s concern, notably in the inclusion of rooftop terrace Management Plans. It has continued to express concerns over the quality and management of rooftops and any external terraces/balconies, which may overlook adjacent residential or sensitive commercial or culturally significant properties and cause noise and disturbance at night.
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Signs, flags and flagpole proposals on commercial premises in St James’s Street have increased, and the Trust has successfully objected to these in several locations, where they breach City Council and Trust policies and principles.
Public realm improvements, promoted, inappropriate or supported by the Trust include:
- Advance consultations with the Trust have been disappointing on a number of important actions by the introduction of shared bay e-Scooter and e-Bike hires by Department of Transport, Transport for London and City Council’s highways and planning departments. A special Trust report and objections to all the St. James’s sites was not acknowledged for bays and their
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The St James’s Conservation Trust Ltd Trustees’ Report for the year ended 31 December 2023
continuing customer abuse of the private operations, under-resourced agreement regulations and City Council enforcement. The Royal Parks have also consulted on changes in traffic management times on The Mall, which the Trust feels are also negative for local residents and
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businesses in the area which rely on service and deliveries, ease of public transport, taxis and other private vehicles and these measures, that can increase congestion and access problems. The Trust has continued to consult with the existing Ward Councillors and the new Labour City Council administration on these matters.
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Related to public realm cost saving and reduced carbon use strategy, The City of Westminster Highways and Street Lighting prepared and approved in July 2020 a new street lighting masterplan which aimed to replace over 300 historic gas light sources with electric LED sources and replacement lanterns across the Borough. The Trust’s continuing campaign, with others in Westminster, objecting to the gas lighting change, has been partially successful and the City Council modified the strategy, retaining a few examples of the historic gas lighting in the area. Related to these conflicting proposals are the Trust’s own, previously English Heritage (Historic England) and City Council supported project idea, as yet, unfunded, for the new St James’s Palace setting of a recreated ornamental 1880s gas light column, lost after WWI.
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St James’s Church and Churchyard improvements have now been granted planning approvals and remain a priority for the area, subject to funding and viability, including the repairs and improvements. The Trust and The Crown Estate support the aim of improvements for the viable scheme of mixed uses for the community and new revenue for maintenance and management. Fundraising will hopefully be able to implement the project in phases for 2023-24.
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The St James’s Square Trust, restored and improved gardens’ railings, lighting and security, (supported by the St James’s Conservation Trust who negotiated a £12,000 reduction in Westminster City Council’s proposed charges for parking suspensions to facilitate the works).
Regrettably, consultations and comments on the rapid-charging electric vehicle infrastructure at the St. James’s Square West gateway were not acknowledged, making the site cluttered and reducing pedestrian movement space. Similar concerns and comments have been made to Transport for London in partnership with the City of Westminster for a six-month trial of e-Scooter hire parking bays in St. James’s (subsequently trials and temporary traffic orders have been extended, without modifications and solutions needed, until November 2023 and now May 2024 and together with possible power changes in June 2024 for e-Bikes). Two original trial sites in St. James’s Street had been identified, and each was considered inappropriate practically and visually: due to the slope of the sites, the settings of Listed buildings and the proposed additional street clutter of signs and bollards/carriageway road paint markings. , Unfortunately, the Trust’s comments in advance were not acknowledged, although the issues of negative impacts raised have all occurred as expected and the comments will again be put forward as part of final reviews of the experiments proposed now in the period 2024 – 2030.
Key licensing issues for continuing consideration by the Trust:
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The Trust continues to object to tables and chairs areas, when potentially a negative impact on residential or commercial amenity arises, on the narrow streets, with narrow footways of the area, as well as main roads where poor air quality and noise pollution are negative factors. Limited successes have been made on most new proposed and unacceptable sites, although reduced numbers of tables and chairs and high-quality management conditions have been successful.
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The nightclub Aura, which the Trust together with The Metropolitan Police and The City of Westminster was successful in forcing the closure of, due to criminal activity and poor management several years ago. The Trust has been opposing without success, its reuse which is not felt to be a safe location and use as a nightclub with extended hours planned to 3.30am.
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The Trust continues to monitor premises of nightclub character and past SEV applications. The Sexual Entertainment Venue (“Shadow” applications) licenses are a continuing concern.
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The St James’s Conservation Trust Ltd Trustees’ Report for the year ended 31 December 2023
- The Avenue Restaurant on St. James’s Street at Byron House adjacent to two most important historic shops: Lobbs (hand-made footwear) and Locks (hand-made hats) has closed and plans to have License Application approvals for reopening and renaming.
Trust commissioned new study was launched in December 2022 for the Trust website online access in 2023: An Audit of Rooftop Increases and Terraces. (Special Projects Services by Atkins):
The audit study, commissioned in 2021, completed in Autumn 2022, is available to all and valuable for key stakeholders.
The Westminster City Council’s “City Plan” progress:
This much shorter new replacement document, guiding planning policies for development across the Borough was about to have final formal adoption when the Covid-19 crisis arose and was followed by the change in the Council’s Control at the last local election which has been reviewing a wide range of new issues, including improvements to consultation procedures, enforcement, equality and diversity matters and the planning and related policies.
Key City Council policies are continuing and new policies that the Trust finds generally supportable still include: improving air quality, economic growth in the right places and district wide public realm improvements. Policies which restore the quantity of small office accommodation, which had been declining across the Borough in total, due to national planning policies favouring conversion to housing, remain a concern of the Trust, which has generally sustained the area’s small office accommodation, but has not yet restored a balance of adequate choice and quantity of residential accommodation. These land use mixtures may all be reviewed in national, strategic, and local planning policies following the shift to homeworking for many office workers. Conversion and poor maintenance of conversion to office or commercial accommodation remains one of the most significant risks to important Listed buildings, originally built as grand single-family houses in the area. The Trust has continued to support English Heritage (now Historic England) in recommending, with examples, that the important historic buildings (if residential) are best restored to their original uses (most recently still in progress: such as 1 Carlton House Terrace), for long term care.
St James’s Neighbourhood Plan progress:
The much-delayed draft plan by the first planning consultants, Gerald Eve was first completed in 2019 and has been revised and updated in 2021-22/23. The process has still been subject to inadequate funding but final consulting stages towards referendum and adoption (now earliest Autumn 2024) as a statutory policy document. The limited funds of the Neighbourhood Forum and resources of its members (all voluntary) have been a delaying issue in commissioning consultants, needed for stakeholder consultation and report stages. The Chairman and Steering Group of the Neighbourhood Forum has secured renewal of the area’s designation with the City Council, due to the delays in progress since establishment in 2015. New funding from local landowners, stakeholders and businesses as well as local Ward funding applications continue in progress.
Public highway paving, street lighting and street clutter:
Public realm projects where paving is improved have generally been related to development sites. They have mainly been undertaken in partnership by the City Council’s planning and highways teams with private sector interests including landowners, businesses, local organisations and the Trust and other charitable foundations’ donations and grants. The main areas of improvement planned or promoted by the Trust are for 2022/23/24. HOLBA and The Crown Estate continue to aim for improvements of road safety measures, quality paving, linking up parts of “The Green Park [Underground Station] Gateway”, Piccadilly, Arlington Street, Bennet Street, Regent Street, St. James’s, Waterloo Place the East side of St James’s Street, St James’s Palace island settings with further improvements, St James’s Square outer footways/five road junctions, revised approaches to siting of electric vehicle charging points/product designs for safety and minimising street clutter with all opportunities to replace poor quality paving with natural stone. Sadly, Norfolk House developers’ frontages have installed concrete
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The St James’s Conservation Trust Ltd Trustees’ Report for the year ended 31 December 2023
flagstones where York Stone should have been specified by planning and highways conditions the Trust has always promoted in guidance for restoring traditional quality.
Law and order and public demonstrations, marches, vagrancy, and amenity issues:
The Trust’s Study: Events and Activities had highlighted the scale and many of the issues arising, which during the 2020-21 pandemic had been largely halted. Ceremonial State events in 2022/23 and future potential protest marches may mean vigilance will still be needed to ensure no negative impact on the historic character and residential amenity of the area. Action to control and enforce safety on St. James’s Streets and at Waterloo Place which had been abused by Boy Racers supercars and motorbikes, has been relatively successful by the coordination of Traffic Police and the City Council with “audio camera” surveillance and enforcement. Filming and sport related (London Marathon) and celebrations (London Pride) through St James’s includes road closures, litter and some vandalism and damage. The Trust, however, supports well organised and well managed events (including a restart of the St. James’s Square Fundraising Garden Party (2023), that lead to increased appreciation of the area, , together with the forthcoming 300[th] anniversary of the1725/26 Act for St. James’s Square). Westminster and the West End area of the Borough has continued to have very high levels, relative to other boroughs/cities, for antisocial behaviour/begging/homeless/rough sleepers (which reduced during the pandemic lockdowns due to Government actions) and petty crime, pickpocketing/handbag theft etc. on street incidents and violence. Of the central Westminster area, St James’s has been relatively safer on these types of crimes.
Financial review
The charity received grants and donations totalling £18,100 during the year (2022: £19,600).
Expenditure on charitable activities totalled £34,090 for the year (2022: £28,115).
In addition to the above, £87,035 of income was raised from the 2023 Summer Garden Party, with £62,148 of related expenditure, resulting in a surplus from the Party of £24,887.
In total, the charity generated net income for the year of £10,866 (2022 incurred net expenditure of: £8,237) and carried forward reserves at 31 December 2023 of £151,740 (2022: £140,874).
Principal funding sources
The charity relies on grants and donations from individuals, commercial organisations and other Trusts. A full list of grants and donations received is given in Note 2 to the accounts.
In 2023 the charity received its funds from 15 (2022: 16) donors and donations ranged from:
| Amount | Number of donors |
|---|---|
| £100 to under £1,000 | 9 |
| £1,000 to under £5,000 | 4 |
| £5,000 to under £10,000 | 2 |
The charity appeals to its supporters for funds by means of letters, its receptions (at no cost to the charity) and (since 2012) the yearly “Review of the Year” newsletters.
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The St James’s Conservation Trust Ltd Trustees’ Report for the year ended 31 December 2023
Investment policy
The charity's Memorandum of Association does not confer any specific rights or restrictions on us as trustees in respect of investing its funds. The funds received by the charity during the year under review were not sufficient to justify separate investment, other than to be placed on deposit with the charity's bankers.
Reserves policy
The Trustees have agreed to maintain a reserve of at least six months’ worth of expenditure, which equates to approximately £17,000. At 31 December 2023, the charity held free, unrestricted reserves of £151,740.
Future plans
The charity continued in 2023 to carry out its tasks as outlined in its charitable purposes, particularly in the promoting of high standards of planning and architecture and education of the heritage in, or affecting, the area of benefit. In addition, the charity is involved in many continuing initiatives for enhancing the amenity of the residents, visitors, and workers in the area. These are:
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St James’s Church and Churchyard improvements: The Trust continues to support plans with new and replacement buildings and landscapes to provide more accessible, better connections and viable new facilities and revenue for the maintenance and future of the historic site and features.
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St James’s Square: further improvements proposed originally for the five street junctions; improved safety and outer perimeter parking arrangements, which may be funded as part of the controversial No. 1 St. James’s Square development, if consented.
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Arlington Street and Bennet Street improvements: with funding via HOLBA’s promotion these streets could be improved in phases, following the very large, high quality Ritz Extension works, finally on site with the support of The St. James’s Conservation Trust.
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Further improvements at Waterloo Place (possible further traffic management and reduced parking, in place of widened footways etc.) and St James’s Palace Island (gas light restoration, possible biodiversity improvements and planting), and maintenance and management are all desirable and planned with City Council and landowner partnership agreements and funding, yet to be confirmed.
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Public realm integrated security high design quality measures (for regular Guard Change) in Marlborough Road (a new gate system, replacing ugly temporary measures) with public realm improvement completing in 2022/23 in phases, as part of the Royal Parks safety cordons. Further sites on The Mall, Great George Street and Spring Gardens were all completed in 2022 in time for the complex State Ceremonials. The more attractive permanent solutions replace temporary, unattractive and inefficient measures, with locally improved paving and public realm.
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Piccadilly South side: improvements, particularly with integrated high quality permanent footway widening along frontage of St James’s Church and opposite Burlington House, may be reconsidered as part of The HOLBA Piccadilly proposals, in partnership with The Crown Estate (principal landowner and developer), following award-winning works at the BAFTA building, Piccadilly South side and future works on a new building at the corner of Swallow Place.
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Bond Street: integrated improvements with junctions to St James’s Street and Jermyn Street were not possible in the budget for Bond Street and may be reconsidered as part of any new HOLBA Piccadilly project and as traffic management systems are re-evaluated.
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The St James’s Conservation Trust Ltd Trustees’ Report for the year ended 31 December 2023
- St James’s Street: completion of phased improvements to paving in natural stone and local footway widening and junction improvements, to link up parts on the East and West sides, will require new partnership funding from businesses and landowners on the West side in future years, with the possibility of some funding from controversial developments on the west side.
Structure, governance and management arrangements
Governing document
The organisation is a charitable company (hereafter referred to as “the charity”), established on 30 November 1999 and registered as a charity on 29 January 2000. The charity was established under a Memorandum, and Articles of Association, which established the objects and powers of the charity and under which it is governed.
The charitable company is registered in England, is limited by guarantee, and has no share capital. The liability of members is limited to £1 per member in the event of a winding up.
Management and governance arrangements
The directors of the charitable company are its trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.
The Articles of Association provide for a minimum of three trustees and no maximum. The charity currently has a complement of fourteen trustees. Trustees are elected at the annual general meeting of the charity (following recommendation by the incumbent trustees) and interim vacancies may be filled by the trustees to hold office until the following annual general meeting.
Trustees are recommended for election on the basis of their extensive knowledge of the charity’s area of benefit. New trustees receive a thorough briefing about the objectives and achievements of the charity.
Partner organisations
The Crown Estate . The area occupied by The Crown Estate’s St James’s Estate has increased to approximately half the land area and bounded within the charity’s “Area of Benefit” and subject to change, for example by property acquisitions. The Crown Estate has already invested over £500 million in the enhancement of its buildings (mainly in Jermyn Street and St James’s Market areas which will continue in further phase Southward) and public realm at Jermyn Street/St James’s Street and the Palace forecourt areas) in St James’s and a symbiosis exists between the two organisations, particularly related to the quality of architecture in new and refurbished redevelopment of buildings, streets and spaces.
St James’s Square Trust. This private organisation, created by the 18th century Act of Parliament (300[th] anniversary approaching in 2025/26) is responsible, via annual funding from the principal frontager interests, for the maintenance and management of the St James’s Square Gardens and boundary railings, up to the back edge of the City of Westminster’s public highway. The St James’s Conservation Trust has regular contact with the St James’s Square Trust on matters of mutual interest and support, including, the three Fundraising Garden Parties in the Square (and hosted in summer 2023) the restoration and improvement of boundary railings and security matters for the garden square.
The Mayfair and St James’s Residents’ Association, The Heart of London Business Alliance, The Jermyn Street Association, The Westminster (Amenity) Society, the local police and The City of Westminster , remain amongst the many other key partners for The St James’s Conservation Trust in achieving progress in meeting its Charitable Objectives in protecting and enhancing historic St James’s.
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The St James's Conservation Trust Ltd Trustees. Report for the year ended 31 December 2023 Trustees, responslbilities in relation to the flnanclal statements Charity law requires the trustees lo prepare financial statements for each financial period which show a trLbe and fair view of the state of affairs of the chanty and of its financial activilies for that period. In preparing those finanaal statements. the trustees are required to.. select suitable accounbng poliaes and then apply them consistenY', make judgements and th'mates that are reasonable and prudent, observe the methods and princples of the Charities, SORP. Accxjunting and Reporting by Char- stste whether applicable accounting standards and statements of recommended practi have been followed, subj'ect to any departure disclosed and explained in the financial statements., and prepare the financial statements on the going conrn basis unless it is inappropriate to assume that the charity wll continue on that basis. The trustees are responsible for keeping proper accounting rerdS which disdose wth reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply wrth the Companies Act 20CKfj. They are also responsible for safeguarding the assets of the charity and hen for takn.ng reasonable steps for the prevenb.on and detection of fraud and other irregularities. Small company provisions This report has been prepared in accordance vAth the prowsions in Part 15 of the Companies Act 201 applicable to companies subject to the small companies, regime. This report was approved by the board of trustees on 4 Septernr 2024 and signed on its behalf. ove Director and Trustee
The St James's Conservation Trust Ltd Legal and Administrative Information
Charity name:
The St James's Conservation Trust Ltd
Charity registration number: 1079166 Company registration number: 03886503 Contact address
C/o FJM Accountancy 23 Shackleton Court 2 Maritime Quay London E14 3QF
President
The Earl of Snowdon
Patrons
Lady Olga Maitland John C Beveridge QC Baroness Hooper CMG
Directors and Trustees
A M Love FCA (Chair) V Chichester (Deputy Chair) N J Turner J Vaughan A C Hobhouse C H Whittall D K Nadar R F H Sharpley MA FRICS
Directors and Trustees (continued)
M L Borthwick M P J Low M W E Wade CBE C M Fenwick MBE G W S Ashton Vice Admiral Sir Timothy Laurence (appointed 7 June 2023) C A Georgiadis (appointed 5 June 2024) J E Bodie OBE (deceased 30 September 2023)
Registered Office
23 Shackleton Court 2 Maritime Quay London E14 3QF
Company Secretary
FJM Accountancy Limited
Planning Consultants (current)
Peter Heath RIBA MRTPI Civic Design Partnership Limited Dove Barn The Street Blo Norton Diss Norfollk IP22 2JB
Planning Consultants (former)
AtkinsRéalis 3rd Floor, Nova North 11 Bressenden Place Westminster London SW1E 5BY
Independent Examiner
Frank J McDowell FMAAT FJM Accountancy Limited 23 Shackleton Court 2 Maritime Quay London E14 3QF
Bankers
Coutts & Co 440 Strand London WC2R 0QS
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Independent examinerfs report to the trustses of The St James's Conservation Trust charitsble company (the Company) I rep)rt to the charity trustees on my examinalion of the ac£ounts of ts Company for the year ended 31 December 2023. Responslbilities and basi5 of report As the charslys trustees of the Company land also ils directors for the purposes of company 18w} you are responsible for the preparat.on of Ihe accL)unts in aco)rdance with the requirements of the Companies Act 2006 Cthe 2006 Aor). Having satisfied myself Ihat the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respe(X of my examination of your charills accounts as carried out under section 145 of Ihe Charrties Act 2011 (Ihe 2011 Act'}. In carrying out my examination I have followed the Direthons given by the Charity Commission under section 145151 (b} of the 2011 Independent examinetrs statement I have completed my examinalion. I confimi that no matters have come lo my attention in connertion with the examinats'on giwng me cause to believe thal in any material respecl". acLX)unts'ng records were not kept in respect of the Company as required by section 386 of the 2006 Act., or the a¢xounts do not accord with those records., or the accounts do not mmply with the accounting requirements of secbon 396 of the 20C6 Act other than any requirement that the accounts give a Irue and fair view vthich is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordan vitth the meth¢xls and prinuples of the Statement of ReMrnended Practs. for accounting and repong by charits'es applicable to charities preparing their accounts in accordan bmth the Finanaal Reporting Standard appIable in the UK and Republic of Ireland {FRS 102) I hava no concerns and have ¢xJme across no other matters in conneth.on with the examination to which attention should be drawn in this report in ordef to enable a proper understanding of the accounts to be reached. Frank J McDowell FMAAT FJM Accountancy Limrted 23 Shackleton Court 2 Maritime Quay London E14 3QF Date.. 5 September 2024 10
The St James's Conservation Trust Ltd Statement of Financial Activities (incorporating Income and Expenditure Account) for the year ended 31 December 2023
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Restricted | General | Total | Restricted | General | Total | ||
| Notes | funds | funds | funds | funds | funds | funds | |
| £ | £ | £ | £ | £ | £ | ||
| Income | |||||||
| Grants and donations | 2 | - | 18,100 | 18,100 | - | 19,600 | 19,600 |
| Fundraising | 3 | - | 87,035 | 87,035 | - | - | - |
| Investment income | - | 1,969 | 1,969 | - | 278 | 278 | |
| Total income | - | 107,104 | 107,104 | - | 19,878 | 19,878 | |
| Expenditure | |||||||
| Cost of generating funds | 3 | - | 62,148 | 62,148 | - | - | |
| Expenditure on charitable activities | |||||||
| Preservation of the built environment | 4 | - | 34,090 | 34,090 | - | 28,115 | 28,115 |
| Total expenditure | - | 96,238 | 96,238 | - | 28,115 | 28,115 | |
| Net income/(expenditure) for the year | 5 | - | 10,866 | 10,866 | - | (8,237) | (8,237) |
| Reconciliation of funds: | |||||||
| Fund balances at 1 January 2023 | - | 140,874 | 140,874 | - | 149,111 | 149,111 | |
| Fund balances at 31 December 2023 | - | 151,740 | 151,740 | - | 140,874 | 140,874 |
The statement of financial activities includes all gains or losses for the year. All income and expenditure derives from continuing activities.
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The St James's Conservation Trust Ltd Registered Number. 03886503 Balance Sheet as at 31 December 2023 2023 2022 Current assets Debtors Cash at bank and in hand 439 165,359 439 173.495 165,798 173,934 Credltors: amounts falllng due withln one year 14,058 33,060 Net current assets 151,740 140,874 Nèt assets 10 151.740 140,874 The funds of the charity: 11 Unrestricted income funds 151,740 140,874 Total funds 151,740 140.874 The directors are satisfied that the o)mpany is entitled to eMpts.0n from the requirement to obtain an audit under section 477 of the Companies Act 20(E arKJ that members have not required the tt)mpany to obtain an audit in accordan vitth section 476 of the Ac The directors acknowledge their responsibilit'ies for comptyiThJ wth the requirements of the Companies A 2006 with respect to accounbng records and the preparation of accounts. The accounts have been prepared in accordan with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. The nancial statements were approved by the trustees on 5 September 2024. AMLove Director and Trustee 12
The St James's Conservation Trust Ltd Statement of Cash Flows for the year ended 31 December 2023
| Net cash used in operating activities: Net movement in funds (Decrease)/increase in creditors Change in cash and cash equivalents in the year Cash and cash equivalents brought forward Cash and cash equivalents carried forward |
2023 2022 £ £ 10,866 (8,237) (19,002) 1,292 (8,136) (6,945) 173,495 180,440 165,359 173,495 |
|---|---|
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The St James's Conservation Trust Ltd Notes to the Accounts for the year ended 31 December 2023
1 Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the previous year.
Basis of accounting
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006.
Fund accounting
Restricted grants and donations are available for the charity's use only in accordance with the terms under which, and for the purposes which, the funds were donated to the charity.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Income recognition
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Grants and donations are included in full in the statement of financial activities when receivable.
Legacies are accounted for as income either upon receipt or where the receipt of the legacy is probable.
Investment income is included when receivable.
Expenditure recognition
Expenditure is recognised on an accrual basis as a liability is incurred. Where expenditure includes VAT which can only be partially recovered, the irrecoverable VAT is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the statement of financial activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. estimated usage, as set out in Note 5.
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The St James's Conservation Trust Ltd Notes to the Accounts for the year ended 31 December 2023
| 2 Grants and donations received Fortnum & Mason Ritz Hotel Donations from film and TV production companies Reform Club Artemis Investment Management The St James's Square Trust Boodles Lenore England Drapers Charitable Fund Martyn Gregory Royal Automobile Club Turf Club Johnny van Haeften Limited 3 Fundraising - annual summer garden party Income Sponsorship Ticket sales Other party income Total income Costs Surplus |
2023 General funds £ 5,000 5,000 3,250 1,200 1,000 1,000 1,000 250 200 200 - - - 18,100 2023 £ 48,075 35,065 3,895 87,035 62,148 24,887 |
2022 General funds £ 5,000 5,000 2,750 1,200 1,000 1,000 - - 200 200 2,000 1,000 250 |
|---|---|---|
| 19,600 | ||
| 2022 £ - - - |
||
| - - |
||
| - |
| 4 Resources expended Basis of allocation Costs directly allocated to activities Legal and professional fees Direct Support costs allocated to activities Website maintenance and hosting Usage Other expenses Usage Accountancy fees Usage Secretarial services Usage Total resources expended |
Preservation of built environment and character Governance 2023 Total 2022 Total £ £ £ £ 27,000 444 27,444 22,169 438 - 438 492 49 516 565 48 3,000 600 3,600 3,600 1,746 297 2,043 1,806 32,233 1,857 34,090 28,115 |
|---|---|
15
The St James's Conservation Trust Ltd Notes to the Accounts for the year ended 31 December 2023
5 Net income/(expenditure) for the year
| This is stated after charging: Independent examination fees |
2023 £ 600 |
2022 £ 600 |
|---|---|---|
6 Trustee remuneration and expenses
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year or the preceding year.
The charity considers its key management personnel comprise the trustees. The total employment benefits of the key management personnel were therefore £Nil (2022: £Nil).
The Trust has no staff.
No trustees made donations to the charity in the year (2022: Nil).
7 Taxation
As a registered charity, The St James's Conservation Trust Ltd is exempt from tax on income and gains falling within Part 11 of the Corporation Tax Act 2010 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
The charity is registered for Gift Aid with HM Revenue & Customs under reference number XR49084.
| 8 Debtors Prepaid expenses 9 Creditors: amounts falling due within one year Grants payable Accrued expenses 10 Analysis of net assets between funds Current assets Current liabilities |
2023 £ 439 2023 £ 12,500 1,558 14,058 2023 General funds £ 165,798 (14,058) 151,740 |
2022 £ 439 |
|---|---|---|
| 2022 £ 27,500 5,560 |
||
| 33,060 | ||
| 2022 General funds £ 173,934 (33,060) |
||
| 140,874 |
16
The St James's Conservation Trust Ltd Notes to the Accounts for the year ended 31 December 2023
| 10 Movement in funds At 1 January Income Expenditure At 31 December |
2023 2022 General General funds funds £ £ 140,874 149,111 107,104 19,878 (96,238) (28,115) 151,740 140,874 |
|---|---|
17