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2021-12-31-accounts

Company Registration No. 6024248 (England and Wales) Charity Registration No. 1118905

SLT BUILDING PRESERVATION TRUST LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

SLT BUILDING PRESERVATION TRUST LIMITED

COMPANY INFORMATION

Directors Charlotte Benstead (Chair)
Bryon Fear (Appointed 5 January 2022)
Marianne Jacobson (Appointed 22 March 2021)
Geraldine McAndrew
Christopher Stooke
Lisa Thomas
Noah Wright
Secretary Christopher Stooke
Company number 6024248
Charity registration number 1118905
Registered office 9 Bonhill Street
London
EC2A 4DJ
Auditor Begbies
9 Bonhill Street
London
EC2A 4DJ

SLT BUILDING PRESERVATION TRUST LIMITED

CONTENTS

Page
Directors' report 1 - 3
Independent auditor's report 4 - 6
Statement of financial activities 7
Statement of financial position 8
Notes to the financial statements 9 - 16

SLT BUILDING PRESERVATION TRUST LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The directors, who are also the Trustees of the charity, present their report and financial statements for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s Memorandum and Articles of Association, the Charities Act 2011 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)”. The charity is a Public Benefit Entity as defined by FRS 102.

Principal activities

The company is a registered charity limited by guarantee. It is governed by its Memorandum and Articles of Association. The objects of the charity are to preserve for the benefit of the people of Greater London the historical, architectural and constructional heritage that may exist in buildings of particular beauty or historical, architectural or constructional interest, including those that relate to the performing arts in Greater London.

Currently, the principal activity of the company is the preservation and management of The Old Fire Station, a Grade II listed building, at 2a Norwood High Street, London SE27 9NS.

Going concern

The Directors' report and financial statements have been prepared on a going concern basis. In particular, in response to the continuing COVID-19 pandemic, the directors have reviewed current available resources and considered relevant information including reviewing the cash flow requirements of the charity for, at least, the forthcoming twelve months. The directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Review of the financial position

Work on restoration and refurbishment of The Old Fire Station was completed during 2019 at a total capital cost of £2,606,044 of which 89% was supported by grants and donations. The balance was financed with long-term loans from the London Borough of Lambeth repayable over 25 years and the Architectural Heritage Fund repayable over five years. At 31 December 2021 the outstanding amounts of these loans were £242,758 and £48,350 respectively.

The effect of long-term loan finance for the refurbishment project is that the brought forward Restricted Reserves carry a negative balance of £283,845 representing the excess of total expenditure over grants and donations received. As repayments are now being financed from Unrestricted Reserves, an amount of £2,042 representing loan repayments in 2021 has been transferred from Unrestricted to Restricted Reserves. This, together with unspent Restricted Reserves on other charitable activities of £42,780 in the year, reduced the Restricted Reserves negative balance to £239,023 at 31 December 2021.

The Statement of Financial Activities for the year to 31 December 2021 shows net income of £62,564 (2020: £10,960) decreasing the negative total reserves carried forward to £204,284 (2020: £266,848).

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be allowed to rise to a level equivalent to between three and six months' expenditure. The directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised

Review of activities and future developments

The company manages the building principally for the benefit South London Theatre Centre Ltd and its Members’ Club who maintained a full programme of activities during the year. In addition, rooms on the upper floors were hired out to other local charities and small businesses. The activities of the company were significantly curtailed for most of 2021 by the restrictions caused by the COVID-19 pandemic; more normal levels of activity are expected for 2022.

SLT BUILDING PRESERVATION TRUST LIMITED

DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Wider network

The company was formed to act as the vehicle for restoration of the building the tenants of which are South London Theatre Centre Limited (SLTC) and SLTC Members’ Club, a separate entity with its own constitution and ruling body operating for the benefit of SLTC. Income from the building is in the form of rent charged to the tenants at agreed market rates.

Risks and uncertainties

The major risks to which the company is exposed as identified by the directors have been reviewed and systems or procedures have been established to manage those risks.

The cost of living increase may have an effect on audience numbers and our ability to retain staff, and will lead to significant increases in overheads, particularly utilities. While the full impact is yet unknown, the directors have put in place systems to monitor and mitigate for the financial impact of these external factors.

Risk statement

The major risks to which the charity is exposed, as identified by the Directors, have been reviewed and systems or procedures have been established to manage those risks.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Charlotte Benstead (Chair)
Fiona Daffern (Resigned 6 June 2022)
Charles Doyle (Resigned 5 January 2022)
Bryon Fear (Appointed 5 January 2022)
Marianne Jacobson (Appointed 22 March 2021)
Geraldine McAndrew
Jason Salmon (Resigned 15 August 2022)
Christopher Stooke
Lisa Thomas
Noah Wright

Recruitment and election of directors

All directors are Trustees of the Charity for the purposes of Charity law. One third of the Trustees must retire at each Annual General Meeting, those longest in office retiring first and the choice between any of equal service being made by drawing lots. The Trustees may at any time co-opt any person duly qualified to be appointed as a Trustee to fill a vacancy in their number or as an additional Trustee, but a co-opted Trustee holds office only until the next Annual General Meeting.

Elected directors are required to hold office for a minimum of six months. New directors are briefed on their legal obligations under Company and Charity law and the Charity Commission guidance on public benefit.

Our volunteers

All the directors of the company donate their services without charge. The company often also relies on the contribution of unpaid general volunteers in carrying on its activities. The directors have considered the specific provisions regarding the valuation of donated items and services and concluded that placing a monetary value on their contribution would not be possible or appropriate.

Appointment of directors

Directors are appointed for a three-year term and are eligible for re-election for up to two further three-year consecutive terms.

SLT BUILDING PRESERVATION TRUST LIMITED DIRECTORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Audltor In accordance with the companys artides. a rosolut)n proposlng that Begbies b8 re8ppoint8d as audit￿ of the company will bg Put at a Ggneral Maat#w. Stat•m•nt of dlroctors. rn8ponlbllltl•s The directOf5 are responsible for preparing the Annual Report and the financial statemgnls In accordance with applicable law and United Kingdom Accounting Stsndards Iunlled Kingdom Generally A(xept8d Acomnting Prath¢g). Company law requires tho directors lo Prepa￿ financlal statements for each financial yoar whlch givg a true and fair 8w of the stat6 of affairs of the company and of the Incoming resources and a￿lcation of resources, Inc[￿J1ftg the income and expenditure. of the charitabje company for that year. In prepttring these fingndal statemsnts, the dlr¥ctor8 are are required to.. sdect suitable accgmjnting policies and then 8￿Y them ￿nSisten11Y. observe the methods and principfes in the Charities SORP.. mak8 judgements and eslimales that are reaSOna￿e and prudent" ststo whether applicable UK Accountlng Standards have teen followed, sutiect to any material departures dlsclosed and explained in the finanoal stalemants,. and propare the financial slatements on tho going concem basis unless it is inapprowiale to presume Ihat Ihe company *ill continue in businèss. Th8 directors are responsible for keeping adoquate aCC{￿ntIng re¢ords that disclose vlth rea8onabi8 ac¢wracy al any tim• the financial position of the charity and enable thèm to ensur8 that the financi81 statemgnts eomply ¥Mth the Companies Act 2006. They are also responsibl8 for safeguarding the assets of the charity and hence for taking reasonablo steps for thg prevention and detection of fraud and other irregulariknes. Stat•mont of dl•clMurn to audltor So far as each person who was a direclor al Ihe dale of approving thls report is aware. there is no relevant audit infoThation of which the compan￿8 auditor is unaware. Additionally. the directors indlvldually h8ve taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of 811 ￿levant audlt inform8tion and io establish that the company'8 auditor is aware of that irrfoFmation. Thls rewrt has been prepared n accordancg wlth tho provisions applicable to compankn entiued to the small CC4npanias exempfjon. On behalf of the Christopher Stooke Dlr•etor 7 September 2022

SLT BUILDING PRESERVATION TRUST LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF SLT BUILDING PRESERVATION TRUST LIMITED

Opinion

We have audited the financial statements of SLT Building Preservation Trust Limited (the 'company') for the year ended 31 December 2021 which comprise the statement of financial activities, the statement of financial position and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going concern

We draw attention to note 1.2 in the financial statements which describes the basis of the going concern assumption. Although the net income for the year was £62,564, the company’s total liabilities exceeded its total assets by £204,284 as at 31 December 2021. As stated in note 1.2, these events or conditions, along with other matters as set forth in note 1.2 and note 13, indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

SLT BUILDING PRESERVATION TRUST LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF SLT BUILDING PRESERVATION TRUST LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

SLT BUILDING PRESERVATION TRUST LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF SLT BUILDING PRESERVATION TRUST LIMITED

Our audit was designed to respond to the risk of material misstatements in the financial statements, recognising that the risk of not detecting misstatement resulting from fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentation or through collusion.

There are inherent limitations in the audit procedures performed. The further removed instances of non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Firman (Senior Statutory Auditor) For and on behalf of Begbies

7 September 2022

Chartered Accountants

Statutory Auditor

9 Bonhill Street London EC2A 4DJ

SLT BUILDING PRESERVATION TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Restricted
Unrestricted
funds
funds
Notes
£
£		 Restricted
Unrestricted
funds
funds
Notes
£
£		 Restricted
Unrestricted
funds
funds
Notes
£
£		 Total Total
2020
£
115,467
30,254
-
14
145,735
-
134,775
-
134,775
10,960
-
10,960
funds funds 2021
£ £ £
INCOME FROM:
Donations, legacies and grants
4
Charitable activities:
Lettings income
Other trading activities
Investments: Bank interest
Total income
EXPENDITURE ON:
Raising funds
Charitable activities:
Covid-related project costs
6
Building project costs		 120,909 45,159 166,068
- 44,920 44,920
- - -
- 6 6
120,909 90,085 210,994
- - -
78,129 70,301 148,430
- - -
Total expenditure 78,129 70,301 148,430
NET INCOME/(EXPENDITURE) 42,780 19,784 62,564
2,042
Transfers between funds (2,042) -
NET MOVEMENT IN FUNDS FOR THE YEAR 44,822 17,742 62,564
Total funds brought forward
(283,845)
Total funds carried forward
(239,023)

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

JLT BUILDING PRESERVATION TRUST LIMITED STATEMENT OF FINANCIAL POSITION ASAT 31 DECEMBER 2021 2021 2020 a• rnstated Currnnt a88•ts Debtors Cash at bank and in hand 21.389 114.133 11,597 111.501 135,522 123.098 Cr•dltorn: •mounts f•lllng du• wlthln on• year (43.971 > (86,808) Nel uJrr•nt assets 91,551 36.290 Crndltors: amounts falllng du• aft•r more than year 10 1295.8351 1303.1381 Nèt Ilablllll•8 (204.284) {266.848} Thè funds of th• chartty: Restricted funds Unrestrictad funds 1239.023) 34.739 1283.8451 16,997 Total charlty's fund• (204.284) 1266.8481 Thege finencial statements have been prepared in accordance with the provbskjns applicable to companies wbiect to the Small companies, regime. The finan and are s were approved by th8 board of di on Its behallby: oTrJ auth ed for Issue on 7 September 2022 Benste&J Chrfstopher Dlroclor Dlroctor Company Rogltytradon Nfy 6024248

SLT BUILDING PRESERVATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Company information

SLT Building Preservation Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 9 Bonhill Street, London, EC2A 4DJ.

1.1 Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), the Charities Act 2011, “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)”. The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin

1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

1.2 Going concern

At the time of approving the financial statements for issue, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

The directors have prepared cash flow projections covering the period to 31 December 2023 which indicate that the company has sufficient cash resources to meet its liabilities as they fall due. In particular the directors have considered the continuing impact of the COVID-19 pandemic, both during 2022/23 and the possible immediate future effects on its trade and that of its assets.

The directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

1.3 Income and expenditure

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

SLT BUILDING PRESERVATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

1.4 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5 Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method less any impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or the risks and rewards of ownership are transferred.

Basic financial Liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.6 Taxation

The company is a registered charity and does not trade for tax purposes. It is not liable to tax on its net income for the year.

1.7 Employee benefits

Short-term employee benefits and contributions to employees' personal pensions are recognised as an expense in the period in which they are incurred.

1.8 Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

SLT BUILDING PRESERVATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies (Continued)

1.9 Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. Charity SORP requires that grants are accounted under the performance model.

The charity has benefitted from the Coronavirus Job Retention Scheme and Small Business rates relief.

Other grants and legacies

In accordance with Charity SORP, grants and legacies are only be recognised when all the following criteria are met:

1.10 Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Trustees is not recognised. Refer to the trustees’ annual report for more information about their contribution.

1.11 Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Trust's artistic programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 6.

1.12 Charity's funds

Unrestricted funds are available for use at the discretion of the Directors in furtherance of the charitable objects of the company unless the funds have been designated for other purposes.

Restricted funds represent grants and donations for specific purposes which are therefore not available for other purposes.

2 Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

SLT BUILDING PRESERVATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

3
Operating surplus		 3
Operating surplus		 3
Operating surplus
Operating surplus for the year is stated after charging/(crediting):
Fees payable to the company's auditors for:
The audit of the company's financial statements		 2021 2020
£ £
4,250 3,950
4
Income
Donations, legacies and grants
Restricted
Unrestricted
funds
funds
£
£
Donations under Gift-aid
-
5,480
Donations non-Gift-aided
-
1,793
Grants receivable and released from:
The National Lottery Heritage Fund (formerly
the Heritage Lottery Fund):
- COVID Emergency
26,956
-
- Community Fund
7,100
-
- Cultural Recovery
44,073
-
The UK government:
- Coronavirus job retention scheme
-
5,600
- Small business rates relief
-
32,286
Other grants received towards future building
project costs
42,780
-
120,909
45,159
Total Total
funds funds 2021 2020
£ £ £ £
- 5,480 5,480 5,416
- 1,793 1,793 1,292
26,956 - 26,956 13,443
7,100 - 7,100 1,980
44,073 - 44,073 57,928
- 5,600 5,600 10,408
- 32,286 32,286 25,000
42,780 - 42,780 -
120,909 45,159 166,068 115,467

5 Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2021 2020
Number Number
Total 2 1

SLT BUILDING PRESERVATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Expenditure Expenditure Expenditure
Expenditure on raising funds
Restricted
Unrestricted
funds
funds
£
£		 Total Total
funds funds 2021 2020
£ £ £ £
Associated support and governance costs - - - -
Expenditure on charitable activities
Restricted
Unrestricted
funds
funds
£
£		 Total Total
funds funds 2021 2020
£ £ £ £
Covid pandemic project costs:
- Grant to South London Theatre Centre Limited - - - 48,100
- PPE, cleaning and signage 2,677 - 2,677 3,700
- Streaming and digital events - - - 8,424
- Wages and salaries (incl. NI and pension) 13,834 - 13,834 4,438
- Professional fees 3,245 - 3,245 3,750
- Community outreach events 11,172 - 11,172 4,939
- Renewals and maintenance 32,349 - 32,349 -
- Website development costs and other IT 12,894 - 12,894 -
- Insurance and other general costs 1,958 - 1,958 -
Associated support and governance costs - 70,301 70,301 61,424
78,129 70,301 148,430 134,775

Analysis of governance and support costs

The company apportions its support costs and governance costs between the key activities undertaken in the year. The table below shows the apportionment of support and governance costs.

Building
project costs
Covid project
costs
Raising funds
2021 Total
2020 Total
£
£
£
£
£		 Building
project costs
Covid project
costs
Raising funds
2021 Total
2020 Total
£
£
£
£
£		 Building
project costs
Covid project
costs
Raising funds
2021 Total
2020 Total
£
£
£
£
£		 Building
project costs
Covid project
costs
Raising funds
2021 Total
2020 Total
£
£
£
£
£		 Building
project costs
Covid project
costs
Raising funds
2021 Total
2020 Total
£
£
£
£
£		 Building
project costs
Covid project
costs
Raising funds
2021 Total
2020 Total
£
£
£
£
£
£ £ £ £ £
Support costs:
Wages and salaries - 25,964 - 25,964 17,488
Social security costs - - - - 1,111
Employer pension costs - 401 - 401 304
Service charges - 308 - 308 323
Rates - 1,077 - 1,077 24
Electricity and gas - 11,393 - 11,393 4,759
Repairs and maintenance - 11,289 - 11,289 6,996
Insurance - 5,137 - 5,137 5,886
Office expenses - 4,251 - 4,251 3,647
Bank charges - 178 - 178 732
Interest payable - 3,944 - 3,944 4,113
Sundries - 947 - 947 941
Governance costs:
Audit and accountancy fees - 4,250 - 4,250 3,950
Professional fees - 1,162 - 1,162 11,150
- 70,301 - 70,301 61,424

SLT BUILDING PRESERVATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

6
Expenditure
(Continued)		 6
Expenditure
(Continued)		 6
Expenditure
(Continued)		 6
Expenditure
(Continued)		 6
Expenditure
(Continued)		 6
Expenditure
(Continued)
Building
project costs
Covid project
costs
Raising funds
2021 Total
2020 Total
£
£
£
£
£
Analysed between:
Restricted funds
-
-
-
-
-
Unrestricted funds
-
70,301
-
70,301
61,424
-
70,301
-
70,301
61,424
£ £ £ £ £
- - - - -
- 70,301 - 70,301 61,424
- 70,301 - 70,301 61,424

7 Directors

None of the directors (or any persons connected with them) received any remuneration during the year (2020: £nil). 8 Debtors

Debtors
Amounts falling due within one year: 2021 2020
£ £
Trade debtors 10,785 216
Amounts owed by group undertakings - 670
Other debtors 4,551 3,529
Prepayments and accrued income 6,053 7,182
Creditors: amounts falling due within one year
21,389 11,597
Other borrowings
Trade creditors
Amounts owed to group undertakings
Taxation and social security
Other creditors
Accruals and deferred income
Creditors: amounts falling due after more than one year
Loans		 2021 2020
£ £
7,273 2,012
5,471 6,396
11,242 -
2,622 3,700
216 67,987
17,147 6,713
43,971 86,808
2021 2020
£ £
295,835 303,138

9 Creditors: amounts falling due within one year

10 Creditors: amounts falling due after more than one year

SLT BUILDING PRESERVATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

10 Creditors: amounts falling due after more than one year

(Continued)

At the year end the company owed:

£7,273 (2020: £2,012) of the loans is repayable within one year and is shown under Creditors: amounts falling due within one year.

There are fixed and floating charges on the leasehold property at 2A Norwood High Street, London SE27 9NS.

Creditors which fall due after five years are as follows: 2021 2020
£ £
Payable by instalments 221,901 217,943

11 Members' liability

The company is limited by guarantee. The liability of each member is limited to £1.

12 Analysis of net assets between funds

Analysis of net assets between funds Analysis of net assets between funds Analysis of net assets between funds Analysis of net assets between funds Analysis of net assets between funds
Restricted
Unrestricted
2021
2020
funds
funds
Total
Total
£
£
£
£
funds
Total
Total
£
£
£
Fund balances at the year end are represented by:
Debtors
-		 21,389
21,389
11,597
Cash at bank and in hand
47,558		 66,575
114,133
111,501
Creditors: amounts falling due within one year
(11,243)
Creditors: amounts falling due after more than
one year
(275,338)
(239,023)		 (32,728)
(43,971)
(86,808)
(20,497)
(295,835)
(303,138)
34,739
(204,284)
(266,848)

13 Events after the reporting date

The directors' view on the continuing impact of the COVID-19 pandemic is disclosed in the Directors' report and in the going concern accounting policy.

14 Related party transactions

During the year, the company charged rent of £9,000 (2020: £18,000) and recharged a share of overheads of £3,350 (2020: £9,746) to South London Theatre Centre Limited.

SLT BUILDING PRESERVATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

15 Parent company

The company is a wholly-controlled subsidiary of South London Theatre Centre Limited (SLTC), a charitable company registered in England and Wales. SLTC's registered office is 9 Bonhill Street, London EC2A 4DJ.

SLT BUILDING PRESERVATION TRUST LIMITED

DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2021

2021 2020
£
5,416
1,292
73,351
-
14
80,073
£ £ £
Income
Donations under Gift aid 5,480
1,793
78,129
42,780
6
128,188
Donations non gift-aided
COVID-related grants receivable - other
Other grants receivable (RF)
Bank interest received
Direct expenditure
COVID-related project costs 78,129 (78,129)
50,059		 73,351
Gross surplus
(73,351)
6,722
65,662
Other operating income
Rent receivable 44,920
32,286
5,600		 82,806
(66,357)
66,508		 30,254
25,000
10,408
Other government grants receivable and released
Coronavirus job retention scheme grant
Administrative expenses (57,311)
15,073
Operating surplus
Interest payable and similar expenses
Loan interest
Surplus before taxation		 (3,944)
62,564		 (4,113)
10,960

SLT BUILDING PRESERVATION TRUST LIMITED

SCHEDULE OF ADMINISTRATIVE EXPENSES

FOR THE YEAR ENDED 31 DECEMBER 2021

2021
£		 2020
£
Administrative expenses (unrestricted funds)
Wages - Casual -
(705)
26,669
401
308
1,077
11,393
5,137
11,289
2,985
1,162
4,250
178
109
1,157
947
66,357		 495
Social security costs 1,111
Gross salaries 16,993
Employers pension contributions 304
Service charge payable 323
Rates 24
Electricity 4,759
Insurance 5,886
Repairs and renewals 6,996
Computer running costs 2,317
Professional fees 11,150
Audit fees 3,950
Bank charges 732
Printing and stationery 375
Telephone and fax 955
Sundry expenses 941
57,311