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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 2025
The Society of Leather Technologists and Chemists Limited
COMPANY LIMITED BY GUARANTEE
Financial Statements
Year ended 31 December 2025
Page
Council of management annual report
1
Independent examiner's report to the members
6
Statement of financial activities (including income and expenditure account)
7
Statement of financial position
8
Notes to the financial statements
9
The Society of Leather Technologists and Chemists Limited
COMPANY LIMITED BY GUARANTEE
Council of Management Annual Report
Year ended 31 December 2025
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 2025 .
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
Park Lodge
office
1 The Ridgeway
Welton
Daventry
Northamptonshire
NN11 2LQ
The members
Mr K Flowers
(Appointed 26 April 2025)
Mr N Payne
(Appointed 26 April 2025)
Mr M Thompson
Mr M Abbott
(Appointed 26 April 2025)
Mr D Miller
Mr K O Macdonald
(Appointed 26 April 2025)
Prof W R Wise
Mr L Irwin
(Resigned 26 April 2025)
Mr J J Osgood
(Resigned 26 April 2025)
Dr C M Anscombe
Mr J Avery
Mrs D A Taylor
Mr M Dunning
Mr T Marcus
(Resigned 30 June 2025)
Mr S R Trantum
Officers invited to attend Council Meetings but without voting rights
Miss M Kapuscik General Secretary
Mrs M K Leafe Journal Editor
Company secretary
Miss M Kapuscik
Independent examiner
Neil Gray M Phys (Hons) FCA
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 surplus for the year was £367 (2024: £351 deficit), leaving total funds to be carried forward of £85,597 (2023: £85,230).
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
It has been a year of meaningful progress and thoughtful development for the Society of Leather Technologists and Chemists. In an evolving professional landscape, our focus throughout 2025 has been to strengthen engagement, modernise our communications, enhance member value, and ensure that the Society remains both relevant and forward-looking.
Digital Development: Launch of the New Website:
A key achievement in 2025 was the successful launch of the Society’s new website. This development represents an important step in modernising the Society’s communications infrastructure and improving engagement with members and stakeholders worldwide.
The new platform provides improved accessibility to information, clearer navigation, enhanced visibility of events and publications, and better integration of member resources. It also strengthens the Society’s digital presence, supporting both recruitment and retention objectives. The Council will continue to monitor and refine the platform to ensure it meets the evolving needs of the membership.
Collaboration with the Leather Conservation Centre:
I am particularly pleased to report the establishment of a new collaboration with the Leather Conservation Centre. This partnership recognises the natural alignment between leather science, technology, and conservation practice.
The collaboration is intended to promote cross-disciplinary exchange between technologists, chemists, and conservation specialists, and to encourage joint initiatives where appropriate. The Council considers this relationship to be a valuable extension of the Society’s professional network.
Development of the Journal:
The Journal remains central to the Society’s identity and purpose. In 2025, we have worked to expand its scope and accessibility by introducing additional features designed to increase relevance and engagement. New elements include expanded technical commentary, industry perspectives, and thematic content that reflects emerging issues in sustainability, materials science, and regulatory developments. These enhancements aim to bridge the gap between academic research and practical application, ensuring the Journal continues to serve both technical specialists and industry professionals. Society of Leather Technologists & Chemists
We remain grateful to our editors, contributors, and reviewers for maintaining the high standards that define our publication.
Review of Professional Grades:
The Council has commenced a review of the Society’s Professional Grades to ensure that they remain appropriate, clearly defined, and aligned with contemporary professional practice. This review will consider the clarity of eligibility criteria, progression pathways, and recognition of competencies within an evolving regulatory and technological environment. Any proposed changes will be subject to appropriate consultation and governance processes at the next AGM, prior to implementation.
Governance – Guidelines for Council Members:
In support of good governance and continuity, formal Guidelines for Council Members are being developed and will be adopted during the coming year. These guidelines provide clarity regarding roles, responsibilities, standards of conduct, and expectations of service. The Council considers this development an important measure in strengthening transparency, accountability, and effective governance within the Society.
Conclusion:
The initiatives undertaken in 2025 reflect a continued commitment to strengthening the Society’s operational framework while advancing its educational and professional objectives. The Council remains focused on ensuring that the Society operates responsibly, adapts to emerging challenges, and continues to provide value to its members and the wider leather community. I extend my thanks to Council members, officers, editors, volunteers, and the membership for their ongoing support and contribution throughout the year.
Deborah Taylor,
The council of management annual report and the strategic report were approved on 25 April 2026 and signed on behalf of the board of trustees by:
Mrs D Taylor 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 2025
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 2025.
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."
Neil Gray M Phys (Hons) FCA Independent Examiner
Meadows & Co Limited Headlands House 1 Kings Court Kettering Parkway Kettering NN15 6WJ
28 April 2026
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 2025
2025
2024
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
12,713
–
12,713
12,538
Other trading activities
6
31,918
–
31,918
22,793
Investment income
7
892
154
1,046
1,127
--------
----
--------
--------
Total income
45,523
154
45,677
36,458
--------
----
--------
--------
Expenditure
Expenditure on raising funds:
Costs of raising donations and legacies
8
28,883
–
28,883
22,435
Expenditure on charitable activities
9,10
16,427
–
16,427
14,374
--------
----
--------
--------
Total expenditure
45,310
–
45,310
36,809
--------
----
--------
--------
--------
----
--------
--------
Net income/(expenditure) and net movement in funds
213
154
367
( 351)
--------
----
--------
--------
Reconciliation of funds
Total funds brought forward
74,352
10,878
85,230
85,581
--------
--------
--------
--------
Total funds carried forward
74,565
11,032
85,597
85,230
--------
--------
--------
--------
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 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible fixed assets
16
56
106
Current assets
Stocks
17
400
444
Debtors
18
11,049
–
Cash at bank and in hand
77,847
87,630
--------
--------
89,296
88,074
Creditors: amounts falling due within one year
19
3,755
2,950
--------
--------
Net current assets
85,541
85,124
--------
--------
Total assets less current liabilities
85,597
85,230
--------
--------
Net assets
85,597
85,230
--------
--------
Funds of the charity
Restricted funds
11,032
10,878
Unrestricted funds
74,565
74,352
--------
--------
Total charity funds
20
85,597
85,230
--------
--------
For the year ending 31 December 2025 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 25 April 2026 , and are signed on behalf of the board by:
Mrs D Taylor 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 2025
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 Park Lodge, 1 The Ridgeway, Welton, Daventry, Northamptonshire, NN11 2LQ.
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 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Donations
Donations
861
861
–
–
Sponsorship
Members and associates
10,160
10,160
10,352
10,352
Subscriptions
Subscriptions and application fees
1,692
1,692
2,186
2,186
--------
--------
--------
--------
12,713
12,713
12,538
12,538
--------
--------
--------
--------
6. Other trading activities
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Sales of publication and sundry receipts
791
791
766
766
Conference income
20,597
20,597
9,497
9,497
Journal income
10,530
10,530
12,530
12,530
--------
--------
--------
--------
31,918
31,918
22,793
22,793
--------
--------
--------
--------
7. Investment income
Unrestricted Funds
Restricted Funds
Total Funds 2025
£
£
£
Bank interest receivable
892
154
1,046
----
----
-------
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Bank interest receivable
952
175
1,127
----
----
-------
8. Costs of raising donations and legacies
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Opening stock
444
444
493
493
Journal printing
2,400
2,400
7,375
7,375
Closing stock
(400)
(400)
(444)
(444)
Honorarium - editor
7,866
7,866
7,563
7,563
Accommodation for students
1,475
1,475
–
–
Conference expenditure
16,736
16,736
7,095
7,095
Subscription - IULTCS
362
362
353
353
--------
--------
--------
--------
28,883
28,883
22,435
22,435
--------
--------
--------
--------
9. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Support costs
16,427
16,427
14,374
14,374
--------
--------
--------
--------
10. Expenditure on charitable activities by activity type
Support costs
Total funds 2025
Total fund 2024
£
£
£
Governance costs
16,427
16,427
14,374
--------
--------
--------
11. Analysis of support costs
Unrestricted Funds
Total 2025
Total 2024
£
£
£
Staff costs
6,213
6,213
5,974
Communications and IT
6,559
6,559
2,163
Finance costs
2,452
2,452
2,376
Travelling and meeting
3
3
96
Sundry expenses
598
598
2,952
Depreciation
50
50
50
Bank charges
164
164
182
Postage and carriage
388
388
581
--------
--------
--------
16,427
16,427
14,374
--------
--------
--------
12. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
2025
2024
£
£
Depreciation of tangible fixed assets
50
50
----
----
13. Independent examination fees
2025
2024
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
2,452
2,376
-------
-------
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2025
2024
£
£
Wages and salaries
14,079
13,537
--------
--------
The average head count of employees during the year was 2 (2024: 2 ). The average number of full-time equivalent employees during the year is analysed as follows:
2025
2024
No.
No.
Administration staff
2
2
----
----
No employee received employee benefits of more than £60,000 during the year (2024: 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 2025 and 31 December 2025
10,597
--------
Depreciation
At 1 January 2025
10,491
Charge for the year
50
--------
At 31 December 2025
10,541
--------
Carrying amount
At 31 December 2025
56
--------
At 31 December 2024
106
--------
17. Stocks
2025
2024
£
£
Raw materials and consumables
400
444
----
----
18. Debtors
2025
2024
£
£
Prepayments and accrued income
11,049
–
--------
----
19. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
219
219
Accruals and deferred income
2,470
2,600
Social security and other taxes
133
131
Other creditors
933
–
-------
-------
3,755
2,950
-------
-------
20. Analysis of charitable funds
Unrestricted funds
At 1 January 2025
Income
Expenditure
Transfers
At 31 December 2025
£
£
£
£
£
General funds
74,352
45,523
(45,310)
–
74,565
--------
--------
--------
----
--------
At 1 January 2024
Income
Expenditure
Transfers
At 31 December 2024
£
£
£
£
£
General funds
74,878
36,283
(36,809)
–
74,352
--------
--------
--------
----
--------
Restricted funds
At 1 January 2025
Income
Expenditure
Transfers
At 31 December 2025
£
£
£
£
£
Heritage Fund
–
154
–
(154)
–
Raymond Blakey fund
10,878
–
–
154
11,032
--------
----
----
----
--------
10,878
154
–
–
11,032
--------
----
----
----
--------
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
--------
----
----
----
--------
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.
21. Analysis of net assets between funds
Unrestricted Funds
Restricted Funds
Total Funds 2025
£
£
£
Tangible fixed assets
56
–
56
Current assets
78,264
11,032
89,296
Creditors less than 1 year
(3,755)
–
(3,755)
--------
--------
--------
Net assets
74,565
11,032
85,597
--------
--------
--------
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
--------
--------
--------