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Finances

St James’s BID will secure £17.8M of ringfenced investment, to deliver a robust five-year improvement plan for the district. 

The St James’s Business Improvement District will be funded, primarily, by the businesses operating within it. It will also draw on other public and private income streams to finance specific schemes and projects.  

The five-year projected income and expenditure, ringfenced for the district, has been presented separately for occupiers and property owners because some of the detail varies. 

Five-year budget 2025 – 2030

Occupier

 

 2025-26 2026-27 2027-28 2028-29 2029-30 Total 
Income       
BID Levy £1,494,752 £1,539,595 £1,585,782 £1,633,356 £1,682,357 £7,935,841 
Other  £10,995 £10,995 £10,995 £10,995 £48,495 £92,475 
Total £1,505,747 £1,550,590 £1,596,777 £1,644,351 £1,730,852 £8,028,316 
       
Expenditure       
Corporate Communications £78,249 £80,596 £83,014 £85,505 £88,070 £415,434 
External Affairs £48,340 £49,790 £51,283 £52,822 £54,407 £256,641 
Placeshaping £171,031 £176,162 £181,447 £186,891 £192,497 £908,028 
Promoting £324,264 £333,992 £344,012 £354,332 £364,962 £1,721,563 
Managing £431,264 £444,202 £457,528 £471,254 £485,392 £2,289,640 
BID Renewal £9,247 £9,525 £9,811 £10,105 £76,800 £115,488 
Core Costs £235,103 £242,156 £249,421 £256,904 £264,611 £1,248,194 
Contingency £74,738 £76,980 £79,289 £81,668 £84,118 £396,792 
Total £1,372,236 £1,413,403 £1,455,806 £1,499,480 £1,610,856 £7,351,781 

 

Budget assumptions 

  • The budget figures are indicative and based on the anticipated levy income using 2023 rateable values 
  • There is an assumed 0.03% annual inflationary increase 
  • The BID levy income reflects 100% of the amount that will be invoiced; a 5% allowance has been made for non-collection in each year
  • The levy income may fluctuate and is subject to the market at the time of the ratings assessment
  • The other income is the minimum level of projected additional funding 
  • The projects and services expenditure reflect the current priorities. These may change, causing variances across the five-year term 
  • Any material variations will be approved by the HOLBA board
  • Core costs will cover the company’s operational costs with the intention of maintaining them beneath the industry benchmark of 20%.

Five-year budget 2025 – 2030

Property Owner

 

Income       
BID Levy 1,832,620 1,887,599 1,944,227 2,002,553 2,062,630 9,729,628 
Other  10,995 10,995 10,995 10,995 48,495 92,475 
Total 1,843,615 1,898,594 1,955,222 2,013,548 2,111,125 9,822,103 
       
Expenditure       
Corporate Communications 95,940 98,819 101,783 104,837 107,982 509,361 
External Affairs 59,269 61,047 62,878 64,765 66,708 314,666 
Placeshaping 209,700 215,991 222,471 229,145 236,019 1,113,327 
Promoting 397,578 409,505 421,790 434,444 447,478 2,110,796 
Managing 528,770 544,633 560,972 577,801 595,135 2,807,310 
BID Renewal 11,338 11,678 12,029 12,390 76,800 124,235 
Core Costs 288,258 296,906 305,813 314,988 324,437 1,530,402 
Contingency 91,631 94,380 97,211 100,128 103,131 486,481 
Total 1,682,484 1,732,959 1,784,948 1,838,496 1,957,690 8,996,577 
Income       

 

Budget assumptions 

  • The budget figures are indicative and based on the anticipated levy income using 2023 rateable values 
  • There is an assumed 0.03% annual inflationary increase 
  • The BID levy income reflects 100% of the amount that will be invoiced; a 5% allowance has been made for non-collection in each year
  • The levy income may fluctuate and is subject to the market at the time of the ratings assessment
  • The other income is the minimum level of projected additional funding 
  • The projects and services expenditure reflect the current priorities. These may change, causing variances across the five-year term 
  • Any material variations will be approved by the HOLBA board
  • Core costs will cover the company’s operational costs with the intention of maintaining them beneath the industry benchmark of 20%.