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← Slt Building Preservation Trust Limited

2024-12-31-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 2024

SLT BUILDING PRESERVATION TRUST LIMITED

COMPANY INFORMATION

Directors Christopher Stooke (Treasurer)
Geraldine McAndrew (Chair)
Mark Bacon (Appointed 7 May 2025)
Simon Gleisner (Appointed 9 September 2024)
Gareth Milton (Appointed 9 September 2024)
Marysia Skwarka (Appointed 9 September 2024)
Shree Ziradkar (Appointed 9 September 2024)
Charlotte Benstead (Resigned 9 September 2024)
Lisa Thomas (Resigned 9 September 2024)
Noah Wright (Resigned 9 September 2024)
Bryon Fear (Resigned 9 September 2024)
Christopher Bennett (Resigned 9 September 2024)
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
Directors' responsibilities statement 4
Independent auditor's report 5 - 7
Statement of financial activities 8
Statement of financial position 9
Notes to the financial statements 10 - 16

SLT BUILDING PRESERVATION TRUST LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors, who are also the Trustees of the charity, present their report and financial statements for the year ended 31 December 2024.

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.

South London Theatre (SLT) is a volunteer-run venue providing cultural activity since 1967 at the Old Fire Station, which is leased from Lambeth Council at a nominal rent until 2141. The building is carried at zero valuation. SLT is responsible for all operational and maintenance costs which are primarily incurred by the company and reimbursed by users of the building including the company's parent, South London Theatre Centre Limited and the SLT Members' Club.

Going concern

The Directors' report and financial statements have been prepared on a going concern basis. 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 2024 the outstanding amounts of these loans were £232,758 (2023: £234,008) and nil (2023: £43,743) respectively.

The effect of long-term loan finance for the refurbishment project is that the Restricted Reserves carry a negative balance of £218,546 representing the excess of total expenditure over grants and donations received . As repayments are now being financed from Unrestricted Reserves, an amount of £7,287 representing loan to be repaid in 2025 been transferred from Unrestricted to Restricted Reserves. This, together with unspent Restricted Reserves on other charitable activities of £11,899 (2023: £11,627) in the year, reduced the Restricted Reserves negative balance to £165,682 (2023: £184,868 ) at 31 December 2024.

The Statement of Financial Activities for the year to 31 December 2024 shows net income of £28,090 (2023: £69,271) decreasing the negative total reserves carried forward to £96,175 (2023: £124,265 ).

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.

SLT BUILDING PRESERVATION TRUST LIMITED

DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

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 (Resigned 9 September 2024)
Bryon Fear (Resigned 9 September 2024)
Christopher Stooke (Treasurer)
Geraldine McAndrew (Chair)
Lisa Thomas (Resigned 9 September 2024)
Mark Bacon (Appointed 7 May 2025)
Simon Gleisner (Appointed 9 September 2024)
Gareth Milton (Appointed 9 September 2024)
Marysia Skwarka (Appointed 9 September 2024)
Shree Ziradkar (Appointed 9 September 2024)
Noah Wright (Resigned 9 September 2024)
Christopher Bennett (Resigned 9 September 2024)

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 2024 Audltor In accordance with the companvs artides. a resolution woposing that Begbies be reappointed as auditor of the company will be put at a General Meets'ng. Statsmont of dlsclosur• to audltor So far as each person who was a director at the date of approving this report is aware, there is no relevant audlt Information of which the company's auditor is unaware. Additionally, Ihe directors indNidually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit Snformatlon and to estsbllsh that the companys auditor is aware of that irrformation. Thi8 report has been prepared In acrx)rdance with Ihe provisions applicable to c(ynpanies entitled to the small companies exemption. On behalf of the board Chrlstopher Stooke (Tre Dlr•ctor 4 Augu8t 2025 sur

SLT BUILDING PRESERVATION TRUST LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the directors are are required to:

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period.

In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 2024 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 £28,090, the company’s total liabilities exceeded its total assets by £96,174 as at 31 December 2024. 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.

Christopher Bates FCA Senior Statutory Auditor For and on behalf of Begbies Chartered Accountants and Statutory Auditors

26 August 2025

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 2024

Restricted Unrestricted Total Total
funds funds 2024 2023
Notes £ £ £ £
INCOME FROM:
Donations, legacies and grants 4 25,860 3,434 29,294 38,765
Charitable activities:
Lettings income - 95,265 95,265 105,541
Investments: Bank interest - 1,674 1,674 717
Total income 25,860 100,373 126,233 145,023
EXPENDITURE ON:
Raising funds - - - -
Charitable activities:
Building project costs 6 13,961 84,182 98,143 75,752
Total expenditure 13,961 84,182 98,143 75,752
NET INCOME/(EXPENDITURE) 11,899 16,191 28,090 69,271
Transfers between funds 7,287 (7,287) - -
NET MOVEMENT IN FUNDS FOR THE YEAR 19,186 8,904 28,090 69,271
Total funds brought forward (184,868) 60,603 (124,265) (193,536)
Total funds carried forward (165,682) 69,507 (96,175) (124,265)

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.

SLT BUILDING PRESERVATION TRUST LIMITED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024 2024 2023 Current assets Debtors Cash at bank and in hand 50.131 135.765 41,771 151.569 185.896 193.340 Credltors: amounts falllng duo wlthln ono year (63.524) (91.772) Net currnnt auets 122.372 101,568 Crndltor8: amounts falllng due aft•r more than one yoar (218.547) (225,833) (96,175} {124.265> The funds of th• charlty: RestrScted funds Unrestrlcted funds (165,682) 69,507 (184,868) 60.603 Memb•r•' fund• (96,175) (124,265) The directors of the CA>mpany have olected I￿t to indude a copy of the income and expenditure account within the financial statements. These financi81 statements have been prepared and delivered in accordanc6 Imth the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the board of directors and authorfsed for18suo on 4 August 2025 arKI are igned on its b Chrl8topher Stooke Dlrector urer) Company reglstration number 6024248 (England and Wales)

SLT BUILDING PRESERVATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024 which indicate that the company has sufficient cash resources to meet its liabilities as they fall due.

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 2024

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 2024

1 Accounting policies

(Continued)

1.9 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.

1.10 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.

1.11 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.

3 Operating surplus

Operating surplus
2024 2023
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 6,000 4,350

SLT BUILDING PRESERVATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

4 Income

Donations, legacies and grants

Donations, legacies and grants
Restricted
Unrestricted
funds
funds
£
£
Donations under Gift-aid
-
2,824
Donations non-Gift-aided
-
610
Other grants received towards future building
project costs
25,860
-
25,860
3,434		 Total
2024
£
2,824
610
25,860
29,294		 Total
2023
£
1,170
19,595
18,000
38,765

5 Employees

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

2024 2023
Number Number
Total 2 1

SLT BUILDING PRESERVATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

6 Expenditure

Expenditure on raising funds

Expenditure on raising funds
Restricted
Unrestricted
funds
funds
£
£
Associated support and governance costs
-
-
Expenditure on charitable activities
Restricted
Unrestricted
funds
funds
£
£
Building project costs:
- Building Project - Fire / Lighting 2023
-
-
- Building Project - Replacing glazing in Tower
1,860
-
- Building Project - Making High Streets Work
7,771
-
- Building Project - Yard Project
4,330
-
Associated support and governance costs
-
84,182
13,961
84,182		 Total
2024
£
-
Total
2024
£
-
1,860
7,771
4,330
84,182
98,143		 Total
2023
£
-
Total
2023
£
4,954
-
1,419
-
69,379
75,752

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 2024 Total 2023 Total
project costs
£ £ £
Support costs:
Wages and salaries 27,055 27,055 23,094
Social security costs 920 920 1,086
Employer pension costs 428 428 474
Staff Training - - 1,538
Service charges 253 253 253
Rates 204 204 2,232
Electricity and gas 5,520 5,520 10,478
Repairs and maintenance 16,191 16,191 9,323
Insurance 2,356 2,356 3,596
Office expenses 2,749 2,749 3,223
Subscriptions 675 675
Bank charges 99 99 68
Interest payable 15,274 15,274 3,590
Sundries 1,294 1,294 3,376
Governance costs:
Audit and accountancy fees 11,164 11,164 5,663
Professional fees - - 1,385
84,182 84,182 69,379

SLT BUILDING PRESERVATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Expenditure (Continued)
Building 2024 Total 2023 Total
project costs
£ £ £
Analysed between:
Restricted funds - -
Unrestricted funds 84,182 84,182 69,379
84,182 84,182 69,379

6 Expenditure

7 Directors

None of the directors (or any persons connected with them) received any remuneration during the year (2023: £nil).

8 Debtors

Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
Creditors: amounts falling due within one year
Other borrowings
Trade creditors
Taxation and social security
Other creditors
Accruals and deferred income		 2024
£
41,393
8,738
50,131
2024
£
26,211
10,243
4,226
-
22,844
63,524		 2023
£
33,774
7,997
41,771
2023
£
63,918
15,706
3,040
282
8,826
91,772

9 Creditors: amounts falling due within one year

10 Creditors: amounts falling due after more than one year

2024 2023
£ £
Loans 218,547 225,833

SLT BUILDING PRESERVATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

10 Creditors: amounts falling due after more than one year

(Continued)

At the year end the company owed £232,758 (2023: £234,008) to the Mayor and Burgesses of the London Borough of Lambeth. This is repayable quarterly in instalments until 30 September 2043; interest is payable on the loan at 5.57% p.a.

£26,211 (2023: £63,918 ) 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: 2024 2023
£ £
Payable by instalments 185,349 194,302

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
Restricted Unrestricted 2024 2023
funds funds Total Total
£ £ £ £
Fund balances at the year end are represented by:
Debtors 6,000 44,131 50,131 41,771
Cash at bank and in hand 58,864 76,902 135,766 151,570
Creditors: amounts falling due within one year (12,000) (51,525) (63,525) (91,773)
Creditors: amounts falling due after more than
one year (218,547) - (218,547) (225,833)
(165,683) 69,508 (96,175) (124,265)

13 Related party transactions

During the year, the company charged rent of £36,000 (2023: £36,000) and recharged a share of overheads of £42,993 (2023: £32,204) to South London Theatre Centre Limited.

14 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 2024

Income
Donations under Gift aid
Donations non gift-aided
Donation - other (RF)
Other grants receivable (RF)
Bank interest received
Direct expenditure
Capital project costs
Gross surplus
Other operating income
Rent receivable - operating lease
Administrative expenses
Operating surplus
Interest payable and similar expenses
Bank interest on loans
Interest on overdue taxation - not financial liabilities
Surplus before taxation		 £
13,961
15,160
114		 2024
£
2,824
610
1,860
24,000
1,674
30,968
(13,961)
17,007
95,265
(68,908)
43,364
(15,274)
28,090		 £
6,372
3,590
-		 2023
£
1,170
19,595
3,000
15,000
717
39,482
(6,372)
33,110
105,541
(65,790)
72,861
(3,590)
69,271

SLT BUILDING PRESERVATION TRUST LIMITED

SCHEDULE OF ADMINISTRATIVE EXPENSES

FOR THE YEAR ENDED 31 DECEMBER 2024

Administrative expenses (unrestricted funds)
Social security costs
Gross salaries
Employers pension contributions
Service charge payable
Rates
Electricity
Insurance
Subscriptions
Repairs and renewals
Computer running costs
Professional fees
Bookkeeping services
Audit fees
Bank charges
Bad and doubtful debts
Printing and stationery
Telephone and fax
Sundry expenses		 2024
£
920
27,055
428
253
204
5,520
2,356
675
16,191
1,645
-
5,164
6,000
99
-
312
792
1,294
68,908		 2023
£
1,086
23,094
474
253
2,232
10,478
3,596
-
9,323
2,446
1,385
1,313
4,350
68
5
87
690
4,910
65,790