Company Registration Number: 1370507 Registsred Charity Numbor: 276485 THE LEATHER CONSERVATION CENTRE (A Company Limited by Guarantse) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THEYEARENDED 30TH SEPTEMBER 2025
THE LEATHER CONSERVATION CENTRE (A Company Limited ty Guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 30TH SEPTEMBER 2025 INDEX Page Legal and Administrative Information Report of the Trustees Independent Examinerfs Report Statement of financial Activities Statement of financial posrtion Notes to the accounts 10-15
THE LEATHER CONSERVATION CENTRE {A Company Limitod by Guarantso) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 30TH SEPTEMBER 2025 Page 1 Company Number.. 1370507 Registered Charity Number. 276485 Address: Canopy Duke Street Leister LE16VIB Trustees: J W Tusts'ng. Chairman PM Famiar Mrs R Garwood - (Resigned 21.02.25) M Pebody M S Pearson- (Resigned 21.02.25) M Redwood D Sully- (Resign 21.02.25) Ms Nicole Gilroy Angela Middleton Registered offi.. Canopy Duke Strt Le1ter LE16WB Bankers: HSBC 100 Old Broad Street London EC2N 1BG Independent Examiner. Lorraine Scullion MAAT 57 Bedford Road Brafield on the Green Northampton NN7 1BD
THE LEATHER CONSERVATION CENTRE IA Company Limhed by Guarantse) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 30TM SEPTEMBER 2025 Page 2 The trustees are pleased to present their report and the unaudtt8d aCUnts of the charity for the year ended 30. September 2025. Directorn and Trustees The directors ofthe charitable company {the charity) are Trustees forth8 purpose of charity law and throughout this report are colle¢tivety referred to as the Trustees. Gov?rnment Document The Charty is constttut8d as a company rn[J by guarantee, and govemed by ts Memorandum and Articles of Association. There is no share caprtal and every member of the company undertakes to ntrIbute to the assets of the company while 5helhe is a member or within one year after shelhe aSeS to be a member, such amounts as may be required, not eXdIng £1.00 in the event of winding up. The company 18 registergj under the Charities Act 2011 and as such is not liable to income tax. corF#Jration tax and capital gains tax. Objects of the Charity The Centre was estsblished as a permanent organisation to Co-ordinate and improve the knowledge, methods and working stsndards needed to proteci and preserve leather objects for the benefrt of the publrc. to promote rrch into leather conservation and to disperse knovledge through education and training. It has the more genefal aim to promote the nseprfation and restoration of leather ofy'ects for the public benefft. The Trustees have had due regard to the guidance published by the Chartty Commission on publtc benefrt and in particular the supplem8nlary guidance on publiG benefft and fee charging. Appointment of Trust8 Members of the organisation can be during the year and nominated for election to Ihe Executive Committee at the Annual General Meets"ng. The Pard of Trustees consists of not more than 20 memters who Can serve for a peritsj of three years before being nominated for r&election. Recruitment of Trustees is undertaken actording to the skill mix raquired for the Commtttee and in accordance wrth the nomination process for the organisation. Trusteo Indu¢tion and Training New Trustees aré issued with an inductton pack induding a copy of theArtiGles of A550ciation. Trustee Code of Conduct Guidelines. a list of current trustees and staff. a brief history of the Centre, Gurrent publicty material and financial statements. This includes a briefing of legal objections under charity and company law.
THE LEATHER CONSERVATION CENTRE (A Company Limited by Guarantso) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 30TH SEwfEMBER 202S Page 3 Organisation The Board of Trustees administers the charty. The board meets three or four times a year and there are sub-committees covering finan and marketing which can meet more frequently if required. The Head of Conservation mana9es the Centre on a day to day basis with delegaled authority for operattonal matters including administrative and conservab'on activities, within terms of delegatKJn approved by the tTUStees. Rlsk revtew The Board of Trustees continues to review the risks to which the charity exposed and systems are in place to mitigate these risks. Awareness of signtficant risks to funding has led to the development ot a longer tem) Strateg plan to dwersfy sources of funding and fee earning activrties. Achigvements and Porforniance The Leather ConseNation Centre achieved the move to a new Studh) in Leicester after 6 years in temporary accommodation in Northampton. The move was completed successfulty in June and July. The leather Con*rvatts)n Centre now has a worfd class consernation space whi¢h will enable us to taken on the full range of projects for conservation and expand our outreach and courses to a wider public. This year we conntrated on the move to the site whtch reduced the conservation work we could achieve. The team did a fantastic job with the move and we achieved all our goals with a successfijl transition to Leicester Staff At the end of September we had 5 members of stsff, Rosie Bolton (Head of Consepiation), Arianne Panton (Senior Conservator),Cindy Clrft (Office and Finance Manager). Beth Elford{Outreach coordinator ), Phoebe Ignatia (Conserrfator). National Lottery Héritagè Fund The Leather conservalion centre VRS 8u¢cessful in a grant applKation from NLHF for £ 250.000 this enabled our move to be very SULxe5sful abng with on going staff funding to grow the business. Financlal Review The resuts ft)r the year and the charity'5 financial position at the end of the year are shown in the attached accounts. In 2025 we achieved the move to a Site on budget and two months late due to the building not being finished on time. To help with the costs we paKI no rent for the new site in 2025 we had enough funding for the move and ended the year in a strong financial pOSitn.
THE LEATHER CONSERVATION CENTRE (A Company Limited by Guarantae) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 30- SEPTEMBER 2025 Pago 4 Investments, Powern and Poll¢y Under the Articles of Association. the charity has the pOvr to invest in any way the Trustees wish. Plans for tho Future Publlc Benefit Statsmorf< The Centre benefits the public in a number of ways. The tong-tenn preservation and conseNation of historic objects made wholty or party of teather ensures that these items are available forthe public to view. and in some Se5 use, both now and in the future. The Centre advances knowledge and education in cOnseation by providing guidance, advocacy, training and education opportunities for the conseNalion professKJn and the wider heritage communty. The Centre is also committed to public benefft through promoting publ understanding of and access to the conservation of cuttural herrtage by grving talks to interested parties to further the public's understanding and awareness ofconsev4ats.on Related Parties The Centre has close relationships wilh the Worshipful Company of Leathersellers. the Worshipful Company of Saddlers. De Montfort universty, Leicester county council and the National HerÈtage Lottery fund. The current reserve policy is to maintain sufficient sh flow for knMI (¥)mmitments, and the replacement of certain assets. Not all grants are received at the beginning of the financial year others are r1Ved in aears.
THE LEATHER CONSERVATION CENTRE (A Company Limlted by Guarantee) DIRECTOR'S RESPONSIBILITIES FOR THE YEAR ENDING 30- SEPTEMBER 2025 Page 5 Company law requires the members of the Executive Committee 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 income and expendrture of the company for that penod. In preparing those financial statements the Executive Committee are required to..
Select suitable accounting poIleS and then appty them cYinsFStentty: Make adjustrnents and estimates that are reasonable and prudenL Prepare the financial statements on th8 going concem basts unless it is inappropriate to presume that the company will continue its activities. The members of the Executive Committee are responsible for maintaining proper Accounting records, which disclose wrth reasonable accuracy at any time the Financial posttion of the company and to enable them to ensure that the financial Statements comply wrth the Companies Act 2006. They have general Responsibility for taking such steps as re reasonably open to them to safe guard The assets of the company and to prevent and detect frdud and other IrreguSarities. This report was approved by the trustees at a management meeting held on 20th February 2026 and signed on their behalf J W Tusting Directorrrrustee
Independent Examinerfs Report to the Trustees ofr. THE LEATHER CONSERVATION NTRE Registered Charity Number. 276485 I report on the accounts of the Company for the year ended 30 September 2025 which are set out on the attached pages 7 to 15 Page 6 Respective responsibilities of trustees and examlner The tnJstees (who are a150 the directors of the company for the purtN)ses of company lawl are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144121 of the Charttie5 Act 2011 and that an independent examination is needed. Having satisfied myself that the charity is not subject to an audtt undercompany law and is eligible for independent examination. Èt is my spOnSIbl1 to:
Examine the accounts under sertion 145 ofthe 2011 Act: Follow the procedures laid down in the general Directions given by the Charty Commission {under section 1451511bl of the 2011 Att. State whether particular matter5 have come to my attention. Basis of independent examlnerf5 Statement My examination was carried out in accordan with general directions given by the Charity Commission. An examination includes a revFew of the accounting records kept by the charity and 3 comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures of the accounts. and seeking explanations from you as trustees concerning any such matters. The procedure5 undertaken do not providè all the evidence that would be required in an audit and consequently no opinion is given as to whetherthe accounts present a "true ènd fair vievR and the port is limited to those matters set out in the ststement below. Independent Examinews Statemert In connection with my examination, no matter has u)me to my attention: l. Which gives me aSOnable cause to lIeVe that in any material respect, the quireMents. To keep accounting records in accordance with settion 386 of the CompanFes Act 2006; and To prepare accounts which accord with the accounting records. Comp wtth the accounting requirements of section 396 of the Companies Att 2CI)6 and WFth the methods and principles of the Statement of Recommended Practi. Accounting and Reporting by Charitie5. have not been met; or 2. To which, in my opinion, attention shoutd be drawn in order to enable a proper understanding of the accounts to be reached. Lorraine Scullion MAAT Il, March 2026
THE LEATHER CONSERVATION CENTRE Pago 7 (A Company Limit8dBy Guarant8e) STATEMENT OF FINANCIAL ACTivmES FOR THE YEAR ENDED 31)th SEPTEMBER 2025 Note8 Unrestricted R•stricted 2025 2025 Total Unrestrkted Restricted 2025 2024 2024 Income and ondowments from: t)onations arKI legac Charitable activrties Investrnents other Total InGome and endoyfflwnts 1,216 94,075 2.750 1.216 216,026 2,750 216 78,301 110 121,951 150.000 98,041 121,951 219.992 78.627 150.000 Expendi on: Raising funds Charrtable Activibes Other Total Expendithre Transfer between Jnds movoment In funds 93,156 155,796 248,952 129,141 93.156 4.367 9.252 1S5,796 (4.367) (38,212) (28,} 248,952 129,141 30,000 (20.514} 130,000) 120,000 Total funds brought forward Total funds carrlod ftrward (3,2381 6,014 184.607 146.395 181.369 152.409 17.276 {3,238) 64.607 184,607 All ofth8 8CvitS oflh8 ¢aitabk (panY8 dass8das CL¥thnUl.
THE LEATHER CONSERVATION CENTRE (A Company knmtied By Guarantee) STATEMENT OF FINANCIAL POSITION AT 30th SEPTEMBER 2025 Page 8 Company Number. Unrestrfcted Restricted Total 2025 2025 2025 1370507 Total 2024 ASSETS: Fixed Assets 6,399 6.399 12,804 Current Assets Debtors Cash at Bank 13,530 110,820) 2,710 13,530 135,575 149,105 6,858 165.271 172,129 146.395 146,395 Crgditors Amounts falling due within one year 13,0951 13,095) 13,0951 13,095) 13,5641 13,5641 Net Currtnt Assets (3851 146.395 146.010 168,565 NET ASSErs 6,014 146,395 152M09 181,369 FUNDS Unrestrlcted Restricted 2025 2025 ToLIl 2025 Total 2024 Unrestricted General Reserve Restncted 6,014 6,014 146.395 152.409 17,276 64,607 81.883 146,395 146,395 6.014
THE LEATHER CONSERVATION CENTRE (A Company Limited By GuaTrntee) STATEMEMT OF FINANCIAL POSITION - COPfflNUED AT 30th SEPTEMBER 2025 Page 9 The Chantab company is entsded to exempb'on from audit under SerAion 477 of the Companies Act 2006 for the year ended 301h September 2025 The members have not required the Charitable Company to obtsin an audit of lis financial statgments for the year ended 30th September 2025 fn acts)rdance wth Sech"on 476 of the Companies Act 2006. The director¥Arustees a¢knoby1edge their responsibilities for (al ensuring that the Charrtab company keeps accounting rewrds that ojmply Sections 386 and 387 of Ihe Companies Act 2006 and {bl preparing financial statements which gNe a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or defictt for each financial year in accordants wth the requirements of Sects"ons 394 and 395 and which otherwise wmply v*lh the ra]uiremenls of the Companies Act2006 relatr'ng to financial statements, so tsr as appIlble to the charitable company. These financial statéments have ben prepar&J in accordan wrth the special provisions of part 15 of the Companies Act 20C6 relating to charitable small companies. The financlal statements Ire approved by the Board of Trustee5 on 20th February 2028 and sign8d on their behair J W Tusting or The notes on page 10 to 15 fom part ofthese financial statnts
THE LEATHER CONSERVATION CENTRE (A Company Limited By GU8ntee) Page 10 PRINCIPAL AccouKfiNG POLICIES FOR THE YEAR ENDED 30th SEPTEMBER 2025 Accountin9 Policies The financial sL2temet7ts of the charItae company. vthich is a public Eenefft entity ur¥Jer FRS 102, have Prepared In aoran wilh the Charityes SORP IFRS 102).Acunts"ng arxl Reporling by Charitias". Statemwjt of RecornrrEnded Pwth"ce applice lo charrt5 prepariThJ accounts in accordance the Financial Reporting Standard a01cab in the UK and Rep1"C of Ire1 IFRS 102) (8ffVe 1 Janugry 20191.. Financial Reporting Stsndard 102 The Financial ReportiThJ StaThJard in the UK aThJ Republic of Ireland, aThJ the Companies Act 20Cfj. The financtd staLmts ha¥e been prer1 urKler the historical eosl convention. Format The company has taken advantage of the provr6ions ofthe Compan8 Act 2006 and presented an income and expendrture account in the fomi of a Staternent of Financial Aciivities on the groutxls that it enables the financial statements to shthv a true and fair view of the resutt for the year. Tangiblo fixed assots and depreciation Depre81[0 is calculated to wrFte down the cost of all tangible fwl assets by instalments over the expected uselul INes. The penod general applKable.' ComputerllT wuipment Fixtures and fittings Aterations 33% straight line basis 25% straight line basis 12.5% straight basis Incomlng Resources All ineoming resources are induded in the SOFA then the charity is legal entit to the in(x)me and the amount can be quantified th reasonab accurary . Grants are brought into account on receNable basis Gifts in Kind and £>onat ServiGg5 and Facilities Grfts in kind, donated facilrties and voluntary help. are rM)t includ1 in the finanfyal statements since it is not 0)nS practical to quanbfy swh irKcme. Rosourcos Expanded All expenditure is accounted for on an accruals basis and has bn daSs under headings that aggregate all co¥ts related to thè ¢ate90ry. Expervjrturg is sta als1¥e of value added tax. Fund accounting General funds are unrestrthd funds which are available for use at the discfection of the trustees in furtheran of the general objectNes of the charity vthith have not been designated for other purposes. Designated fuTHJs comprise unrestricted funds that have been set askle by the tnjsteeg for particular purposes. The aim and use of each designated fund is sel out in the notes to the finanal slatemerrts. Restricied fttrnds are funds which are to be Us1 in accordan with specific restrictions imposed by the donors orwhith have been raised by the charity for partiujkar purposes.
THE LEATHER CONSERVATION CENTRE (A Company LimitedBy Guarantse) Page 11 NOTES TO THE ACCOUNTS ResoNés The current reserve policy is lo malntsin sufficient Cash fkm for knwm o)mmitrnents. and the replacement of certain assets. Rlsk The DirectorslBoard of Trustees do not believe the organisation is Subject to any substantial risk beyond Ihose disclos&1 in the Annual Report and Accourtts. The organisation has Insuran to protec* it in the case of a daim. Penslon Costs The Charity operates a NEST pension stheme for employeos. The annual contributions payable are charged in the Statsment of Finanryal ActFVFbes
THE LEATHER CONSERVATION CENTRE (A Company Limited By Gu8Trntee) Page 12 NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 3(1th SEPTEMBER 2025 Restrictod 2025 Total 2025 Totsl 2024 2025 Note 1 Donaoons Curriers C(Mnpany Chantable Fund 1,000 216 1.216 1,000 216 1.216 216 216 Note 2 Charitable Actiyitigs Training Course5 Sale of monographs Conservation fees Other income Grants Worshipful Company of Saddlers Dr DJ Lloyd MemorÉal Trust NatK)nal Lottery Heritage Fund The LealheTrellers Foundation 6.359 359 45.104 6.108 6,359 359 45.104 6,108 8,014 1,145 34,533 609 4,000 2.145 4.000 2,145 121.951 30,000 216,026 4,000 121,951 30.000 94.075 180,000 228.301 121,951 Overseas 8ales amounted to £67 (2023:£8,469) Nots 3 Charitablo kntivities Employment Costs Recrurtment Contractors Rellocation payTnents to staff RenURaleslUtilthes OffK*lrunning Costs Pvblicty Equipment R&M Insurance Other Costs Training Conseryats'on Matenals & equipment Depreciab"on Professional Fees Maintenance Govomance Trustee Expenses Independent Examinats"on 45.053 65,973 420 111,026 420 11,573 25,236 12,345 2.100 1.110 42.996 6.658 121 2.117 4.196 6.405 6,960 13.871 92.953 11.573 5,369 25.236 12,345 2.100 1.110 8.856 1.460 1,482 72 42.994 6,658 121 1,305 4,196 8.405 128 812 70 3,138 6,405 4,387 470 13,401 637 1.181 93,156 637 1.181 248.952 675 129.141 ISS.796
THE LEATHER CONSERVATION CENTRE Pag¢ 13 (A Company Limited By Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 30th SEPTEMBER 2025 Nots 4 Emplownent Costs Salaries NIER 38.590 1,389 61,735 2.083 100,325 3.472 80,616 1,506 SMP ER Pension Travel 882 4,192 45,053 1,322 833 65.973 2,204 5,025 111,026 2,238 8,593 92,953 re are no employegs beiThJ pa in excess of £60,000 per annum (2024:£nil) The number of employees during the yearwas.. 312024'.3) During the y8ar the trustees re¢eNed £nil (2024£nil) MUneratIon . The totsl expeTrJrture reimburned lo the ttustees amounted to £637 (2023.'£36) Remuration paid to Key Management Personn81 in the year £41,240 Note S Flxed Assets Total Total Fittingg 2024 Cost or Valuation Balan at 1 October 2024 Additions during the year At 30 Sgptembor 2025 103,050 103,050 103,050 103,050 103.050 103,050 D•prnGiation Balan at 1 October 2024 Charge in the year At 30 SepteMr 2025 90.246 6.405 96.651 90.246 6.405 96,651 83,841 6.405 90.246 Net book value At 30 Seplember 2025 6.399 6,399 At 30 Septemter 2024 12.804 Total 2024 2025 2025 2025 Nots 6 Debtor8 Sundry Debtors Pre-Paid Debtors 7,916 5.614 13.530 7.916 5.614 13.530 6,858 6.858
THE LEATHER CONSERVATION CENTRE Paga 14 (A Company knmited By Guarnntee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 30th SEPTEMBER 2025 Restricted Tolal 2025 Totsl 2024 2025 Note 7 Creditors sundryrade creditors Accruals Tax & Social Seujrity cxjsts 14321 18501 {2,282} (3.564) {1,100) {1,995) 13.095) (1,100) {1,995} 13.095) Note 8 Unrestricted Reserves Opening Movement Movement Transfer balance Out 01.10.24 (3,2381 Closlng Balan¢e 30.09.25 6,014 funds Unrestrided 98,041 (93,156) 4,367 132381 98,041 193,156) 4.367 6.014 Comparative: Unrostricted Reserves Opening klovement Movement Trdnsfer Closlng balance Out bgtween Balance 01.10.23 nds 30.09.24 34,729 {4,729) Unrestricted Designaled - Betty Haine5 Project 12.547 4.729 78.627 {129.141) 13,2381 17276 78.627 (129.141) 30,000 {3,2381 Betty Haines Project. Archive dNJrtisation prwt
THE LEAThER CONSERVAMON CENTRE (A Company Limited By Guarantee) Page 15 NOTES TO THE ACCOUls FOR THE YEAR ENDING 30th SEPTEMBER 2025 Note 9 Restricted Funds Opgning Movement Movement Transfer balaTr¢e Out 01.1024 Closing Balance 30.09.25 funds The Leathersellers, Company Charrtable Trust- ADV Grant Worshipful Company of Saddlers The Leatherselkrs, Company The Leathersellers, Foundation Natn Lottery Herttage Fund 4,367 (4,367) 4.0¢)0 26.240 150.OCKI 4,000 26.240 45,8 70,247 146,395 1104.0921 121,951 (51,7041 121,951 {155,7961 184,607 Leatherseller5 Company CharFtable Trust- ADV Grant- Project mana9ement cixsts for proposed move to Chestsr House. Worshipful Company of SaJdlets- F(K repair of i18ms in (lunc1Jn Museum of Leathercraft in Northampton The Leatherseller5' Company- To support the 1st year rekcatKfft costs of LCC to Pilot House The Leatherseller5' Foundab"on - To SUPFQrt the rektab.on costs of LCC to Pilot House Natal Lottery Herttrfe Fund- To SUPFQrt the kation costs of LCC to Pilot House (4.3671 Comparatlve: Restricted Funds Opening klovement Alovement Transfer balance Out betwè• 01.10.23 funds Closing Balancg 30.09.24 The Leathersellers, Company Charitable Trust- ADV Grant Worshipful Company of Saddlers The Leathersellers, Company The Leathersellers, F¢)undatK)n 4,367 4,367 4,000 26,240 150,000 184,607 26.240 30,000 150,000 130,0001 64.607 150.000 {30,0001 Leathersellers Company Charrtable Trusl- ADV Grant- Project management costs for proposed move to Chester House. Worshipful Company of Saddkrs- For repair of items in COnjun Museum of Leathercraft in Nonhampton The Leathersellers, Company- To support the 1st year loCatiOn costs of LCC to Pilot House The Leathersellers. FoundatTh- To support the rek)catign costs of LCC to Pik)t House Note 10 Pension Scheme The Company contn.bute to the NEST penSn scheme employer cOnthbutnS in the year amounted tr) £2.204 (2023.£2.238) Note 11 Ultlmate Controlling Party The company 15 ijnder the ulb.male control of rts dir*tors, and whose names are sh¢y•vn at the front of the finanaa statements.