2022-12-31-accounts - Sarabande

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Trustees		C Lowther	OBE	OBE			(Chairperson)	(Chairperson)
		G Jackson
		D Bradfield.
		FAmfitheatrof
		S Needham					(Appointed	- 12June 2023)
		BJ Hooper					(Appointed	-17July 2023)
Charity number		1153464
Principal	address	22 Hertford		Road
		London
		N1 5SH
Auditor		TC Group
		6th Floor
		Kings House
		9-10Haymarket
		London
		SW1Y4BP
Solicitors		Baker McKenzie			LLP
		100New Bridge Street
		London
Bankers		C Hoare 8	Co
		37Fleet Street
		London
		EC4P. 4DQ
Investment	Advisors	MJ Hudson
		, 1 Frederick's		Place
		London
		EC2R SAE
Investment	Custodians	Canaccord	Genuity Wealth			Management
		88Wood Street
		London
		EC2V 7QR

			Page
Trustees'	report		1-17
Independent auditor's		report	18-20
Statement	of financial	activities	21
Statement	of financial	position	22-23
Statement	ofcash flows
Notes to the financial		statements	25-43

Consolidated SOFA			Unrestricted	Endowment	Total	Total
			funds	funds	2022	2021
		Notes		E	E
nco e and endowmen	fr m
Donations, legacies and	sponsorships		648,206		648,206	1,514,169
Product sales			42,368		42,388	90,023
Income from fundraising	and events		52,674		52,674	104,862
Investments			77,814		77,814	40,659
Other income			117,567		117,567	71,125
Total income and endowments			938,649		938,649	1,820,838
Fundraising and event costs			53,376		53,376	15,517
Non - charitable trading	costs		135,132		135,132	96,110
Cost ofproduct sales			11,855		11,855	21,337
			200,363		200,363	132,964
Charitable activities			623,303		623,303	515,862
Total expenditure			823,666		823,666	648,826
Net gains/(losses) on investments		14	(855,758)		(855,758)	963,859
Net (expenditure)/income	for the year/
Net movement in funds			(740,775)		(740,775)	2,135,871
Fund balances at 1 January 2022			15,546,078	10	15,546,088	13,410,217
Fund balances at 31 December 2022			14,805,303	10	14,805,313	15,546,088

								2022	2021
							Notes
' CONSOLIDATED
Fixed assets
Intangible	assets						. 15	124	244
Tangible assets							16	2,435,343	2,449,409
Investments							17	10,946,027	11,801,785
								13,381,494	14,251,438
Current assets
Stocks							19	22,399	30,000
Debtors							20	74,148	46,391
Cash at bank and		in	hand					1,743,140	1,530,950
								1,839,687	1,607,341
Creditors:	amounts		falling		due within		21
one year								(415,868)	(312,691)
Net current	assets							1,423,819	1,294,650
Total assets less		current		liabilities				.14,805,313	15,546,088
Capital funds
Endowment	funds	-	general				23	'10	10
Income funds
Unrestricted	funds						24	14,805,303	15,546,078
								14,805,313	15,546,088
The accounts were		approved			by t	Trustees	on .........................
ckson								adfield
Trust							Trustee
owther							FAmfitheatrof
Trustee							Trustee

								2022		2021
							Notes	E
COMPANY	ONLY
Fixed assets
Intangible	assets						15			76
Tangible assets							16	2,435,343		2,449,409
Investments							17	10,946,029		11,801,787
								13,381,372		14,251,272
Current assets
Stocks							19
Debtors							20	1,044,358	678,108
Cash at bank and		in	hand					525,210	754,594
								1,569,568	1,432,702
Creditors:	amounts		falling		due within		21
one year								(138,160)	(127,542)
Net current	assets							1,431,408		1,305,160
Total assets less		current		liabilities				14,812,780		15,556,432
Capital funds
Endowment	funds	-	general				23	10		10
Income funds
Unrestricted	funds						24	14,812,770		15,556,422
								14,812,?80		15,556,432
The a counts were		approved			by th	Trustees on ......!..!.......
								radfield
Trustee								Trustee
Lowther								FArnfitheatrof
Trustee								Trustee

					2022		2021
				Notes			E
Cash flows from operating	activities
Cash (absorbed by)/generated		from		29
operations						(720,946)	2,203,380
Investing activities
Purchase oftangible fixed assets					(436)		(5,626)
Investments - net movement					855,758		(1,961,259)
Investment income					77,814		40,659
Net cash generated from/(used			in)
investing activities						933,136	(1,926,226)
Net cash used in financing	activities
Net, increase in cash and cash			equivalents			212,190	277,154
Cash and cash equivalents	at beginning			ofyear		1,530,950	1,253,796
Cash and cash equivalents	at	end of		year		1,743,140	1,530,950

				2022	2021
	Donations			301,606	300,453
	Legacies receivable				1,105,316
	Sponsorship			346,600	108,400
				648,206	1,514,169
4	Product sales
				2022	2021
					E
	Product sales			42,388	90,023
				42,388	90,023
5	Income from fundraising		and events
				2022	2021
	Other events				3,722
	Fundraising	event		52,674	101,140
				52,674	104,862

6	Investment	income
				2022	2021
				f	f
	Interest and	other investment	income	77,814	40,659
7	Other Income
				2022	2021
	Advertising			55,003	47,410
	Rental income			24,699	20,715
	Royalty income			35,963
	Other income			1,902	3,000
				117,567	71,125

Fundraising	costs
Event costs
Fundraising	and event costs

2022	2021
33,032	13,659
20,344	1,858
53,376	15,517
135,132	96,110
11,855	21,337
200,363	132,964

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	2022	2021
		f,
Grants to institutions:
UAL Central St Martins	80,891	63,765
UCL Slade School of Fine Art	65,960	41,821
	146,851	. 105,586
Awards to individuals	7,400	6,000
	154,251	111,586

The average	monthly number ofemployees during th	e year was:
		2022	2021
		Number	Number
Administration
Employment	costs	2022f	2021f
Wages and salaries		227,926	231,059
Social security	costs	22,354	23,694
Other pension	costs	6,440	6,496
		256,720	261,249

The numbe were:	r of em	ploye	es whose annual remuneration	was f60,000 or more
					2022	2021
					Number	Number
f140,000- f150,000						1
Net gains/(losses)		on investments
				Total		Total
				2022 f		2021f
Unrealised	(losses)/gains		on investrhents	(768,557)		889,917
Realised (losses)/gains			on investments	(87,201)		73,942
				(855,758)		963,859

15	intangible fixed assets
	Group	Trademarks
	Cost
	At 1 January 2022 and 31 December 2022	20,292
	Amortisation and impairment
	At 1 January 2022	20,048
	Amortisation charged for the year	120
	At 31 December 2022	20,168
	Carrying amount
	At 31 December 2022	124
	At 31 December 2021	244
	Intangible fixed assets
	Parent	Trademarks
	Cost
	At 1 January 2022 and 31 December 2022	20,072
	Amortisation and impairment
	At 1 January 2022	19,996
	Amortisation charged for the year	76
	At 31 December 2022	20,072
	Carrying amount
	At 31 December 2022
	At 31 December 2021	76

Tangible fixed assets
Group and Parent		Land and buildings	Plant and machinery	Fixtures, fittings 8	Total
				equipment
Cost
At 1 Januar'y 2022		2,494,406	18,681	172,858	2,685,945
Additions				437	437
Disposals				(55,362)	(55,362)
At 31 December 2022		2,494,406	18,681	'l17,933	2,631,020
Depreciation and impairment
At 1 January 2022		62,354	17,438	156,744	236,536
Depreciation charged	in the year	9,978	715	3,810	14,503
Eliminated in respect ofdisposals				(55,362)	(55,362)
At 31 December 2022		72,332	18,153	105,192	195,677
Carrying amount
At 31 December 2022		2,422,074	528	12,741	2,435,343
At 31 December 2021		2,432,052	1,243	16,114	2,449,409

Fixed asset investments
Group and Parent
	Listed	Unlisted	Cash in		Total
	investments	investments	portfolio
		P.
Cost or valuation
At 1 January 2022	10,217,448	1,008,583	575,754		11,801,785
Additions	720,400		(720,400)
Disposals	(641,072)		641,072
Losses on disposal	(87,201)				(87,201)
Unreallsed losses	(768,557)				(768,557)
Other movements	13,059		(1'3,059)
				'
At 31 December 2022	9,454,077	1,008,583	483,367		10,946,027
Carrying amount
At 31 December 2022	9,454,077	1,008,583	483,367		10,946;027
At 31 December 2021	10,217,448	1,008,583	575,754		11,801,785

Name of undertaking	Name of undertaking	Name of undertaking	Registered	Registered	Nature	ofbusiness	Class of	% Held
			office				shares held	Direct.
Suture Inc	Limited		United	Kingdom	Trading	Company	Ordinary	100.00
Sarabande	Trading	Limited	United	Kingdom	Trading	Company	Ordinary	100.00

	The aggregate capital and reserves	The aggregate capital and reserves	and the result	for the year of subsidiaries	in the	consolidation were
	as follows:
	Name of undertaking		Profit/(Loss)	Capital and
				Reserves
	Suture Inc Limited		2,875	(7,467)
	Sarabande Trading	Limited		'1
19	Stocks
	Group				2022	2021
	Finished goods and goods for resale				22,399	30,000
	Stocks
	Parent				2022	2021
	Finished goods and goods for resale
20	Debtors
					2022	2021
	Group
	Amounts falling due within one year:
	Trade debtors				17,646	16,050
	Other debtors and accrued income				41,115	17,701
	Prepayments				15,387	12,640
					74,148	46,391

20	Debtors			(Continued)
			2022	2021
	Parent
	Amounts falling due within	one year:
	Amounts due from subsidiary	undertakings	1,007,939	648,167
	Other debtors and accrued income		23,553	17,301
	Prepayments		12,866	12,640
			1,044,358	678,108
21	Creditors: amounts falling	due within one year
	Group		2022	2021
			E	E
	Other taxation and social security		120,937	85,002
	Trade creditors		5,781	30,952
	Other creditors and deferred	income	211,310	140,332
	Accruals		77,840	56,405
			415,868	312,691
	Parent		2022	2021
				E
	Other taxation and social security		75,575	63,349
	Trade creditors		5,781	24,271
	Other creditors and deferred	income	1,202	4,938
	Accruals		55,602	34,984
			138,160	127,542

				Movement	in funds
			Balance at 1	Incoming	Resources	Balance at 31
			January	resources	expended	December 2022
			2022
Permanent		endowments'
Original	settlement		10			10
			10			10

Analysis	Analysis	ofnet assets between funds
Group				Unrestricted	Endowment	Total
				funds	funds
				E
Fund balances at 31 December 2022 are represented			by:
Intangible		fixed assets		124		124
Tangible		assets		2,435,343		2,435,343
Investments				10,946,027		10,946,027
Current	assets/(liabilities)			1,423,809	10	1,423,819
				14,805,303	10	1'4,805,313-
Group				Unrestricted	Endowment	Total
				funds	funds
				E
Fund balances at 31 December 2021 are represented.			by:
Intangible		fixed assets		244		244
Tangible		assets		2,449,409		2,449,409
Investments				11,801,785		11,801,785
Current	assets/(liabilities)			1,294,640	10	1,294,650
				15,546,078	10	15,546,088
Parent				Unrestricted	Endowment	Total
				funds	funds
				E	E
Fund balances at 31 December 2022 are represented			by:
Intangible		fixed assets
Tangible		assets		2,435,343		2,435,343
Investments				.10,946,029		10,946,029
Current	assets/(liabilities)			1,431,398	10	1,431,408
				14,812,770	10	14,812,780
Parent				Unrestricted	Endowment	Total
				funds	funds
					E
Fund balances at 31 December 2021 are represented			by:
Intangible		fixed assets		76		76
Tangible	assets			2,449,409		2,449,409
Investments				11,801,787		11,801,787
Current	assets/(liabilities)			1,305,160	10	1,305,170
				15,556,432	10	15,556,442

Cash generated from	operations	operations	operations			2022	2021
(Deficit)/surpus for the	year					(740,775)	2,135,871
Adjustments for:
Investment income recognised			in statement	offinancial	activities	(77,814)	(40,659)
Amortisation and impairment		of	intangible	assets		120	1,211
Depreciation and impairment		oftangible fixed assets				14,502	14,087
Movements in working	capital:
Decrease/(increase) in	stocks					7,601	(20,094)
(Increase)/decrease in	debtors					(27,757)	18,372
Increase in creditors						103,177	94,592
Cash (absorbed by)/generated			from operations			(720,946)	2,203,380