In this section

Home St Martin's Finances

Finances

HOLBA will secure £5M of ringfenced investment, to deliver a robust five-year improvement plan for the district. 

The St Martin’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 

 

 2024-252025-262026-272027-282028-292029-30Total
Income        
BID Levy 332,612 380,929 392,357 404,128 416,251 428,739 2,355,016 
Other  69,659 10,995 10,995 10,995 10,995 48,495 162,134 
Total 402,271 391,924 403,352 415,123 427,246 477,234 2,517,150 
        
Expenditure        
Corporate Communications 21,036 19,922 20,519 21,135 21,769 22,422 126,802 
External Affairs 12,698 12,307 12,676 13,056 13,448 13,851 78,037 
Placeshaping 52,544 43,543 44,849 46,195 47,581 49,008 283,721 
Promoting 92,520 82,555 85,032 87,583 90,210 92,916 530,815 
Managing 110,777 109,796 113,090 116,483 119,977 123,577 693,700 
BID Renewal 14,421 2,354 2,425 2,498 2,573 16,717 40,987 
Core Costs 83,522 59,855 61,651 63,500 65,405 67,368 401,301 
Contingency 16,631 19,046 19,618 20,206 20,813 21,437 117,751 
Total 404,148 349,379 359,860 370,656 381,775 407,296 2,273,114 

 

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 

 

 2024-252025-262026-272027-282028-292029-30Total 
Income        
BID Levy 337,548 389,819 401,514 413,559 425,966 438,745 2,407,150 
Other  69,659 10,995 10,995 10,995 10,995 48,495 162,134 
Total 407,207 400,814 412,509 424,554 436,961 487,240 2,569,284 
        
Expenditure        
Corporate Communications 21,355 20,417 21,030 21,660 22,310 22,980 129,752 
External Affairs 12,891 12,613 12,991 13,381 13,783 14,196 79,855 
Placeshaping 53,342 44,626 45,965 47,344 48,764 50,227 290,269 
Promoting 93,924 84,609 87,147 89,761 92,454 95,228 543,122 
Managing 112,458 112,527 115,903 119,380 122,962 126,651 709,881 
BID Renewal 14,639 2,413 2,485 2,560 2,637 16,971 41,705 
Core Costs 84,789 61,344 63,185 65,080 67,032 69,043 410,474 
Contingency 16,877 19,491 20,076 20,678 21,298 21,937 120,358 
Total 410,276 358,040 368,782 379,845 391,240 417,233 2,325,416 

 

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.