2 false false true false false false false true false false false false false true true No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023_Charity 10,597 10,441 50 10,491 106 156 xbrli:pure xbrli:shares iso4217:GBP 00502705 2024-01-01 2024-12-31 00502705 2024-12-31 00502705 2023-12-31 00502705 2023-01-01 2023-12-31 00502705 2023-12-31 00502705 2022-12-31 00502705 bus:LeadAgentIfApplicable 2024-01-01 2024-12-31 00502705 char:Trustee2 2024-01-01 2024-12-31 00502705 char:Trustee7 2024-01-01 2024-12-31 00502705 char:Trustee10 2024-01-01 2024-12-31 00502705 char:Trustee18 2024-01-01 2024-12-31 00502705 char:Trustee19 2024-01-01 2024-12-31 00502705 bus:CompanySecretary1 2024-01-01 2024-12-31 00502705 char:Trustee1 2024-01-01 2024-12-31 00502705 char:TotalUnrestrictedFunds 2023-12-31 00502705 char:TotalRestrictedIncomeFunds 2023-12-31 00502705 char:TotalUnrestrictedFunds 2024-12-31 00502705 char:TotalRestrictedIncomeFunds 2024-12-31 00502705 char:TotalRestrictedIncomeFunds 2023-12-31 00502705 char:TotalUnrestrictedFunds 2023-12-31 00502705 char:TotalUnrestrictedFunds 2024-01-01 2024-12-31 00502705 char:TotalRestrictedIncomeFunds 2024-01-01 2024-12-31 00502705 char:TotalUnrestrictedFunds 2023-01-01 2023-12-31 00502705 char:TotalRestrictedIncomeFunds 2023-01-01 2023-12-31 00502705 char:Activity1 char:TotalUnrestrictedFunds 2024-01-01 2024-12-31 00502705 char:Activity1 2024-01-01 2024-12-31 00502705 char:Activity1 2023-01-01 2023-12-31 00502705 char:Activity1 char:TotalUnrestrictedFunds 2023-01-01 2023-12-31 00502705 core:WithinOneYear 2024-12-31 00502705 core:WithinOneYear 2023-12-31 00502705 char:Trustee20 2024-01-01 2024-12-31 00502705 bus:SmallEntities 2024-01-01 2024-12-31 00502705 bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 00502705 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 00502705 bus:FullAccounts 2024-01-01 2024-12-31 00502705 core:PlantMachinery 2024-01-01 2024-12-31 00502705 core:PlantMachinery 2024-12-31 00502705 core:PlantMachinery 2023-12-31
COMPANY REGISTRATION NUMBER: 00502705
CHARITY REGISTRATION NUMBER: 262247
The Society of Leather Technologists and Chemists Limited
COMPANY LIMITED BY GUARANTEE
Unaudited Financial Statements
31 December 2024
The Society of Leather Technologists and Chemists Limited
COMPANY LIMITED BY GUARANTEE
Financial Statements
Year ended 31 December 2024
Page
Council of management annual report
1
Independent examiner's report to the members
5
Statement of financial activities (including income and expenditure account)
6
Statement of financial position
7
Notes to the financial statements
8
The Society of Leather Technologists and Chemists Limited
COMPANY LIMITED BY GUARANTEE
Council of Management Annual Report
Year ended 31 December 2024
The members, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2024 .
Reference and administrative details
Registered charity name
The Society of Leather Technologists and Chemists Limited
Charity registration number
262247
Company registration number
00502705
Principal office and registered
Office 39
office
iCon Innovation Centre
Eastern Way
Daventry
Northamptonshire
NN11 0QB
The members
Mr M Thompson
Mr D Miller FSLTC
Mr S R Trantum
Prof W R Wise
Mr L Irwin
Mr J J Osgood
Dr C M Anscombe
Mr J Avery
Mrs D A Taylor
Mr M Dunning
(Appointed 27 April 2024)
Mr T Marcus
(Appointed 27 April 2024)
Elected or Ex Officio
B Jonsson (President, South African Section)
N Phipps (Hon. Secretary, South African Section)
M.K. Leafe Editor
Officers invited to attend Council Meetings but without voting rights
Mrs M Kapuscik (General Secretary)
Company secretary
Miss M Kapuscik
Independent examiner
Mr David Kelland
Meadows & Co Limited
Headlands House
1 Kings Court
Kettering Parkway
Kettering
NN15 6WJ
Structure, governance and management
The charity is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association.
Objectives and activities
The charity's objective and its principal activity continues to be that of assisting and encouraging the application of science and technology to the manufacture and utilisation of leather and related products and by the publication of journals and the holding of meetings, to further the development of scientific knowledge in the leather industry.
Policies adopted to achieve the society's objectives
1. To set subscription rates for members and subscribers at a level consistent with the ability to fulfil the objectives of the Society and to attract members from industry, organisations and libraries.
2. To publish the Journal of the Society of Leather Technologists and Chemists, a recognised international journal which has been published monthly or bi-monthly since 1917. To originate other publications of a scientific or technological nature where appropriate to further the objectives of the Society.
3. To devise analytical methods for publication as Official Methods of the Society and to collaborate with the other organisations in the formulation of International Methods for the Analysis of Leather and related products.
4. To hold meetings, if possible, on an annual basis, and to encourage and support regional meetings held by local groups and overseas sections.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
The deficit for the year was £351 (2023: £5,541 surplus), leaving total funds to be carried forward of £85,350 (2023: £85,581).
The Council of Management does not consider that there have been any important events affecting the Society between the date of the balance sheet and the date that this report was signed.
Financial review
Following several turbulent years, 2024 has been a relatively stable period for the UK leather industry. However, we continue to feel the lingering effects of earlier disruptions and challenges. The 2023 announcements regarding the closure of both the Institute for Creative Leather Technologies (ICLT) and Pittards marked a significant and sobering moment in the industry's recent history. These institutions were not only deeply embedded in our community but also held international acclaim and heritage. Their loss, occurring within months of each other, was a profound reminder of the fragility of our sector. It was a low point that resonated across the membership of the SLTC, contributing to one of the sharpest declines in membership numbers we have experienced in recent memory.
While 2024 has brought a more hopeful outlook, the underlying challenges within the UK leather sector remain. As a Society, we understand that reversing the trend of membership decline requires more than hope - it demands meaningful change. To remain relevant and to attract new members while continuing to serve our existing community, we must evolve into a more dynamic and forward-thinking organisation. We cannot afford to stand still.
In response, 2024 has marked the beginning of a new chapter for the SLTC. We have taken decisive steps to modernise our operations and increase our international appeal. While there is still much to do, these efforts represent a firm foundation upon which we can build. I remain optimistic about the Society's future.
I am especially proud of the SLTC Council for embracing both the urgency and the scale of the changes needed. The adjustments we have made this year go beyond incremental improvement - in many ways, they have been transformational. Two initiatives, in particular, stand out: the transition to a digital-only journal and the return of our annual conference to a roving-location format. Both moves challenge the expectations of a traditional membership, but both are vital to our continued relevance.
The transition to a fully digital Journal of the Society of Leather Technologists and
Chemists has, overall, been successful. Feedback from members has been largely positive, and the shift brings measurable financial benefits, including opportunities for increased advertising revenue. Naturally, there remain areas for refinement, but these are well within our grasp. Looking ahead, I firmly believe that the Journal's next evolution should include DOI registration, further enhancing its academic standing and accessibility. This is an area I will remain committed to supporting, even after my term as President ends.
Our 2024 Annual Conference and Dinner Dance were met with enthusiastic reception and increased attendance, reaffirming the value of these in-person gatherings. The decision to host the 2025 event in Glasgow was not without its risks, but early indicators are encouraging; registration numbers are above that of 2024, and we are facing the welcome challenge of potentially reaching capacity for the Dinner Dance. We are hopeful that this enthusiasm will translate into a vibrant and memorable event which will encourage new membership. Additionally, we are excited to launch our newly redesigned website at this year's conference. This platform will offer greater flexibility, improved control, and a more contemporary image for the Society. As with any new system, a period of adjustment is expected, but we are confident in our ability to manage and refine the site as needed.
While progress is always a collective effort, I want to take a moment to extend special thanks to several individuals whose contributions have been extraordinary. Deborah Taylor (Vice President), Monika Kapuscik (Secretary), and David Miller (Treasurer) have worked tirelessly behind the scenes, and their dedication has been instrumental in enabling the Society to move forward. I am deeply grateful to each of them. As I prepare to step down from the role of President at this April's conference, I do so with a deep sense of pride and gratitude. It has truly been an honour to serve this Society, and it is a role I will cherish for the rest of my life. With the foundations now in place, I am confident that under the capable leadership of Deborah Taylor, our incoming President, the Society of Leather Technologists and Chemists will continue to grow, evolve, and thrive.
The council of management annual report and the strategic report were approved on 23 April 2025 and signed on behalf of the board of trustees by:
Prof W Wise Mr D Miller
President Treasurer
The Society of Leather Technologists and Chemists Limited
COMPANY LIMITED BY GUARANTEE
Independent Examiner's Report to the Members of The Society of Leather Technologists and Chemists Limited
Year ended 31 December 2024
I report to the members on my examination of the financial statements of The Society of Leather Technologists and Chemists Limited ('the charity') for the year ended 31 December 2024.
Responsibilities and basis of report
The trustees are also the directors of the company for the purposes of company law are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006, and
- the accounts do not accord with those records, and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met, or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached."
Mr David Kelland Independent Examiner
Meadows & Co Limited Headlands House 1 Kings Court Kettering Parkway Kettering NN15 6WJ
23 April 2025
The Society of Leather Technologists and Chemists Limited
COMPANY LIMITED BY GUARANTEE
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 December 2024
2024
2023
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
12,538
12,538
17,945
Other trading activities
6
22,793
22,793
17,661
Investment income
7
952
175
1,127
547
--------
----
--------
--------
Total income
36,283
175
36,458
36,153
--------
----
--------
--------
Expenditure
Expenditure on raising funds:
Costs of raising donations and legacies
8
22,435
22,435
18,521
Expenditure on charitable activities
9,10
14,374
14,374
12,091
--------
----
--------
--------
Total expenditure
36,809
36,809
30,612
--------
----
--------
--------
--------
----
--------
--------
Net (expenditure)/income and net movement in funds
( 526)
175
( 351)
5,541
--------
----
--------
--------
Reconciliation of funds
Total funds brought forward
74,878
10,703
85,581
80,040
--------
--------
--------
--------
Total funds carried forward
74,352
10,878
85,230
85,581
--------
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The Society of Leather Technologists and Chemists Limited
COMPANY LIMITED BY GUARANTEE
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible fixed assets
16
106
156
Current assets
Stocks
17
444
493
Cash at bank and in hand
87,630
88,611
--------
--------
88,074
89,104
Creditors: amounts falling due within one year
18
2,950
3,679
--------
--------
Net current assets
85,124
85,425
--------
--------
Total assets less current liabilities
85,230
85,581
--------
--------
Net assets
85,230
85,581
--------
--------
Funds of the charity
Restricted funds
10,878
10,703
Unrestricted funds
74,352
74,878
--------
--------
Total charity funds
19
85,230
85,581
--------
--------
For the year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 23 April 2025 , and are signed on behalf of the board by:
Prof W Wise Mr D Miller
President Treasurer
The Society of Leather Technologists and Chemists Limited
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Office 39, iCon Innovation Centre, Eastern Way, Daventry, Northamptonshire, NN11 0QB.
2. Statement of compliance
These financial statements have been prepared in accordance with 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 issued in October 2019, The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), the Companies Act 2006 and UK Generally Accepted Accounting Practice.
3. Accounting policies
Public benefit
The Trustees of The Society of Leather Technologists and Chemists Limited understand the need to have regard to the Charity Commission's guidance on public benefit.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the members for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Limited by guarantee
The Society of Leather Technologists and Chemists Limited is a company limited by guarantee and thus has no share capital.
5. Donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Sponsorship
Members and associates
10,352
10,352
13,808
13,808
Subscriptions
Subscriptions and application fees
2,186
2,186
4,137
4,137
--------
--------
--------
--------
12,538
12,538
17,945
17,945
--------
--------
--------
--------
6. Other trading activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Sales of publication and sundry receipts
766
766
620
620
Conference income
9,497
9,497
8,546
8,546
Journal income
12,530
12,530
8,495
8,495
--------
--------
--------
--------
22,793
22,793
17,661
17,661
--------
--------
--------
--------
7. Investment income
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Bank interest receivable
952
175
1,127
----
----
-------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Bank interest receivable
424
123
547
----
----
----
8. Costs of raising donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Opening stock
493
493
547
547
Journal printing
7,375
7,375
5,310
5,310
Closing stock
(444)
(444)
(493)
(493)
Honorarium - editor
7,563
7,563
7,272
7,272
Conference expenditure
7,095
7,095
5,525
5,525
Subscription - IULTCS
353
353
360
360
--------
--------
--------
--------
22,435
22,435
18,521
18,521
--------
--------
--------
--------
9. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Support costs
14,374
14,374
12,091
12,091
--------
--------
--------
--------
10. Expenditure on charitable activities by activity type
Support costs
Total funds 2024
Total fund 2023
£
£
£
Governance costs
14,374
14,374
12,091
--------
--------
--------
11. Analysis of support costs
Unrestricted Funds
Total 2024
Total 2023
£
£
£
Staff costs
7,563
7,563
5,739
Communications and IT
2,163
2,163
2,455
General office
463
463
577
Finance costs
2,376
2,376
2,046
Travelling and meeting
96
96
24
Sundry expenses
2,489
2,489
153
Depreciation
50
50
156
Bank charges
182
182
265
Postage and carriage
581
581
435
Other legal and professional
241
--------
--------
--------
15,963
15,963
12,091
--------
--------
--------
12. Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
50
156
----
----
13. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
2,376
2,250
-------
-------
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024
2023
£
£
Wages and salaries
13,537
13,011
--------
--------
The average head count of employees during the year was 2 (2023: 2 ). The average number of full-time equivalent employees during the year is analysed as follows:
2024
2023
No.
No.
Administration staff
2
2
----
----
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
15. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees
16. Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
10,597
--------
Depreciation
At 1 January 2024
10,441
Charge for the year
50
--------
At 31 December 2024
10,491
--------
Carrying amount
At 31 December 2024
106
--------
At 31 December 2023
156
--------
17. Stocks
2024
2023
£
£
Raw materials and consumables
444
493
----
----
18. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
219
219
Accruals and deferred income
2,600
3,241
Social security and other taxes
131
219
-------
-------
2,950
3,679
-------
-------
19. Analysis of charitable funds
Unrestricted funds
At 1 January 2024
Income
Expenditure
Transfers
At 31 December 2024
£
£
£
£
£
General funds
74,878
36,283
(36,809)
74,352
--------
--------
--------
----
--------
At 1 January 2023
Income
Expenditure
Transfers
At 31 December 2023
£
£
£
£
£
General funds
69,460
36,030
(30,612)
74,878
--------
--------
--------
----
--------
Restricted funds
At 1 January 2024
Income
Expenditure
Transfers
At 31 December 2024
£
£
£
£
£
Heritage Fund
175
(175)
Raymond Blakey fund
10,703
175
10,878
--------
----
----
----
--------
10,703
175
10,878
--------
----
----
----
--------
At 1 January 2023
Income
Expenditure
Transfers
At 31 December 2023
£
£
£
£
£
Heritage Fund
123
(123)
Raymond Blakey fund
10,580
123
10,703
--------
----
----
----
--------
10,580
123
10,703
--------
----
----
----
--------
Heritage fund
This project was started during 2018 with the objective of archiving SLTC's scientific knowledge for future generations.
Raymond Blakey fund
This fund is dedicated to the creation of an online Resource Centre to reflect the knowledge requirements of current and future leather technologists and chemists.
20. Analysis of net assets between funds
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Tangible fixed assets
106
106
Current assets
77,196
10,878
88,074
Creditors less than 1 year
(2,950)
(2,950)
--------
--------
--------
Net assets
74,352
10,878
85,230
--------
--------
--------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Tangible fixed assets
156
156
Current assets
78,401
10,703
89,104
Creditors less than 1 year
(3,679)
(3,679)
--------
--------
--------
Net assets
74,878
10,703
85,581
--------
--------
--------