2023-12-31-accounts - Sarabande

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Trustees			C Lowther OBE	C Lowther OBE	C Lowther OBE			(Chairperson)	(Chairperson)
			D Bradfield
			FAmfitheatrof
			S Needham					(Appointed	- 12June 2023)
			BJ Hooper					(Appointed	- 17July 2023)
Charity	number		1153464
Principal	address		22 Herfford	Road
			London
			N1 5SH
Auditor			TC Group
			6th Floor
			Kings House
			9-10Haymarket
			London
			SW1Y4BP
Bankers			C Hoare 8	Co
			37 Fleet Street
			London
			EC4P 4DQ
Investment		Advisors	Apex Investment			Advisors	Limited
			6th Floor
			125, London		Wall
			London
			EC2Y5AS
Investment		Custodians	Canaccord	Genuity Wealth			Management
			88Wood Street
			London
			EC2V 7QR

		Page
Trustees' report		1-17
Independent auditor's	report	18-20
Statement offinancial	activities	21
Statement offinancial	position	22-23
Statement ofcash flows		24
Notes to the financial	statements	25-42

Consolidated SOFA				Unrestricted	Endowment	Total	Total
				funds	funds	2023	2022
			Notes		F	f
Income and endowments		from:
Donations, legacies and	sponsorships			878,154		878,154	648,206
Product sales				40,103		40,103	42,388
Income from fundraising	and events			121,598		121,598	52,674
Investments				168,577		168,577	77,814
Other income				126,544		126,544	117,567
Total income and endowments				1,334,976		1,334,976	938,649
Ex enditure on:
Fundraising and event costs				49,795		49,795	53,376
Non - charitable trading costs				154,082		154,082	135,132
Cost of product sales				12,487		12,487	11,855
				216,364		216,364	200,363
Charitable activities				652,590		652,590	623,303
Total expenditure				868,954		868,954	823,666
Net gains/(losses) on investments			14	327,596		327,596	(855,758)
Net income/(expenditure)		for the year/
Net movement in funds				793,618		793,618	(740,775)
Fund balances at 1 January		2023		14,805,303	10	14,805,313	15,546,088
Fund balances at 31 December 2023				15,598,921	10	15,598,931	14,805,313

					2023	2022
				Notes	f.	f
CONSOLIDATED
Fixed assets
Intangible assets				16	80	124
Tangible assets				17	2,435,424	2,435,343
Investments				18	12,073,623	10,946,027
					14,509,127	13,381,494
Current assets
Stocks				20	27,621	22,399
Debtors				21	120,186	74,148
Cash at bank and	in	hand			1,130,785	1,743,140
					1,278,592	1,839,687
Creditors: amounts		falling due within		22
one year					(188,788)	(415,868)
Net current assets					1,089,804	1,423,819
Total assets less	current		liabilities		15,598,931	14,805,313
Capital funds
Endowment funds	—general			23	10	10
Income funds
Unrestricted funds				24	15,598,921	14,805,303
					15,598,931	14,805,313

					2023	2022
				Notes
COMPANY ONLY
Fixed assets
Intangible assets				16
Tangible assets				17	2,435,424	2,435,343
Investments				18	12,073,625	10,946,029
					14,509,049	13,381,372
Current assets
Stocks				20
Debtors				21	878,512	1,044,358
Cash at bank and	in	hand			363,411	525,210
					1,241,923	1,569,568
Creditors: amounts		falling due within		22
one year					(152,041)	(138,160)
Net current assets					1,089,882	1,431,408
Total assets less	current		liabilities		15,598,931	14,812,780
Capital funds
Endowment funds	-	general		23	10	10
Income funds
Unrestricted funds				24	15,598,921	14,812,770
					15,598,931	14,812,780

			2023		2022
		Notes	f		f.
Cash flows from operating	activities
Cash generated from/(absorbed by)		31
operations				361,578		(720,946)
Investing activities
Purchase oftangible fixed assets			(14,914)		(436)
Investments - net movement			(1,127,596)		855,758
Investment income			168,577		77,814
Net cash (used in)/generated	from
investing activities				(973,933)		933,136
Net cash used in financing	activities
Net (decrease)/increase in	cash and	cash
equivalents				(612,355)		212,190
Cash and cash equivalents at beginning		ofyear		1,743,140		1,530,950
Cash and cash equivalents	at end of	year		1,130,785		1,743,140

3	Donations,	legacies and	sponsorships
				2023	2022
	Donations			572,586	301,606
	Sponsorship			305,568	346,600
				878,154	648,206
4	Product sales
				2023	2022
					E
	Product sales			40,103	42,388
				40,103	42,388
5	Income from fundraising		and events
				2023	2022
	Fundraising	and other events		121,598	52,674
				121,598	52,674

					2023	2022
					E	E
	Interest and	other investment		income	168,577	77,814
7	Other Income
					2023	2022
	Advertising				48,500	55,003
	Rental income				40,260	24,699
	Royalty income				34,716	35,963
	Other income				3,068	1,902
					126,544	117,567
8	Other costs
					2023	2022
	Fundraising	costs			44,922	33,032
	Event costs				4,873	20,344
	Fundraising	and	event costs		49,795	53,376
	Non - charitable		trading costs		154,082	135,132
	Cost of product		sales		12,487	11,855
					216,364	200,363

			Scholarships	Subsidised	Events and	Total	Total
Support costs				Studios f	Workshops	2023f	2022f
Staff costs			23,892	95,572	119,465	238,929	195,530
Directors remuneration			2,318	9,270	11,587	23,175	23,172
Depreciation			742	7,417	6,675	14,834	14,578
Premises expenses			5,855	93,673	17,563	117,091	110,319
Accounting and professional		fees	34,976	34,976	17,489	87,441	99,984
Office running	costs			20,660	8,854	29,514	17,503
Travel and events			5,291		5,291	10,582	6,586
Bank charges and exchange		movement	412	412	412	1,236	1,380
			73,486	261,980	187,336	522,802	469,052
Grant funding	of activities (see note 10)		129,788			129,788	154,251
			203,274	261,980	187,336	652,590	623,303
Analysed by	fund
Unrestricted	funds		203,274	261,980	187,336	652,590
			203,274	261,980	187,336	652,590
For the year	ended 31 December 2022
Unrestricted	funds		226,113	235,732	161,458		623,303
			226,113	235,732	161,458		623,303

	2023	2022
	F	F
Grants to institutions:
UAL Central St Martins	75,188	80,891
UCL Slade School of Fine Art	43,400	65,960
	118,588	146,851
Awards to individuals	11,200	7,400
	129,788	154,251

13	Employees
	Number of	employees
	The average monthly		number ofemployees				during the	year was:
									2023	2022
									Number	Number
	Administration
	Employment costs								2023	2022
	Wages and	salaries							276,883	227,926
	Social security costs								24,502	22,354
	Other pension costs								6,973	6,440
									308,358	256,720
	The number	of employees			whose annual	remuneration		was f60,000 or more
	were:
									2023	2022
									Number	Number
	2140,000 -	F150,000							1	1
14	Net gains/(losses)		on investments
								Total		Total
								2023		2022
	Unrealised	gains/(losses)		on investments				327,596		(768,557)
	Realised (losses)/gains			on	investments					(87,201)
								327,596		(855,758)
15	Taxation

Intangible fixed assets	Intangible fixed assets
Group		Trademarks
Cost
At 1 January 2023 and 31 December 2023		20,292
Amortisation and impairment
At 1 January 2023		20,168
Amortisation charged	for the year	44
At 31 December 2023		20,212
Carrying amount
At 31 December 2023		80
At 31 December 2022		124
Intangible fixed assets
Parent		Trademarks
Cost
At 1 January 2022 and 31 December 2022		20,072
Amortisation and impairment
At 1 January 2023		20,072
Amortisation charged	for the year
At 31 December 2023		20,072
Carrying amount
At 31 December 2023
At 31 December 2022

Tangible fixed assets
Group and Parent		Land and buildings	Plant and machinery	Fixtures, fittings 8	Total
				equipmentf
Cost
At 1 January 2023		2,494,406	18,681	117,933	2,631,020
Additions			560	14,354	14,914
At 31 December 2023		2,494,406	19,241	132,287	2,645,934
Depreciation and impairment
At 1 January 2023		72,332	18,153	105,192	195,677
Depreciation charged	in the year	9,977	804	4,052	14,833
At 31 December 2023		82,309	18,957	109,244	210,510
Carrying amount
At 31 December 2023		2,412,097	284	23,043	2,435,424
At 31 December 2022		2,422,074	528	12,741	2,435,343

Fixed asset investments Group and Parent
	Listed	Unlisted	Cash in	Total
	investments f	investments E	portfolio F
Cost or valuation
At 1 January 2023	9,454,077	1,008,583	483,367	10,946,027
Additions			800,000	800,000
Unrealised gains	327,596			327,596
Other movements	14,799		(14,799)
At 31 December 2023	9,796,472	1,008,583	1,268,568	12,073,623
Carrying amount
At 31 December 2023	9,796,472	1,008,583	1,268,568	12,073,623
At 31 December 2022	9,454,077	1,008,583	483,367	10,946,027

Cost
At 1 January 2023
Movement
Carrying amount
At 31 December 2023
At 31 December 2022

Name of undertaking	Name of undertaking	Name of undertaking	Registered	Registered	Nature	of business	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 as follows:	The aggregate capital and reserves as follows:	and the result f	or the year of subsidiarie	s included in the conso	lidation we
	Name of undertaking		Profit/(Loss)	Capital and
				Reserves
	Suture Inc	Limited	7,468
	Sarabande	Trading Limited
20	Stocks
	Group				2023	2022
					F	F
	Finished goods and goods for resale				27,621	22,399
	Stocks
	Parent				2023	2022
					F
	Finished goods and goods for resale
21	Debtors
					2023	2022
	Group
	Amounts	falling due within one year:
	Trade debtors				45,109	17,646
	Other debtors and accrued income				38,031	41,115
	Prepayments				37,046	15,387
					120,186	74,148

21	Debtors				(Continued)
				2023	2022
	Parent
	Amounts falling due within		one year:
	Trade debtors			20,093
	Amounts due from subsidiary		undertakings	790,479	1,007,939
	Other debtors	and accrued income		30,894	23,553
	Prepayments			37,046	12,866
				878,512	1,044,358
22	Creditors: amounts falling		due within one year
	Group			2023	2022
				F	F
	Other taxation	and social security		66,161	120,937
	Trade creditors			15,659	5,781
	Other creditors	and deferred	income	21,903	211,310
	Accruals			85,065	77,840
				188,788	415,868
	Parent			2023	2022
				F
	Other taxation	and social security		62,559	75,575
	Trade creditors			13,059	5,781
	Other creditors	and deferred	income	3,458	1,202
	Accruals			72,965	55,602
				152,041	138,160

			Movement	in funds
		Balance at 1	Incoming	Resources	Balance at 31
		January	resources	expended	December 2023
		2023
Permanent	endowments
Original settlement		10			10
		10			10

Analysis	of net assets between funds
Group			Unrestricted	Endowment	Total
			funds	funds
			F	F
Fund balances at 31 December 2023 are represented		by:
Intangible	fixed assets		80		80
Tangible	assets		2,435,424		2,435,424
Investments			12,073,623		12,073,623
Current assets/(liabilities)			1,089,794	10	1,089,804
			15,598,921	10	15,598,931
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	14,805,313
Parent			Unrestricted	Endowment	Total
			funds	funds
			F	F
Fund balances at 31 December 2023 are represented		by:
Intangible	fixed assets
Tangible	assets		2,435,424		2,435,424
Investments			12,073,625		12,073,625
Current assets/(liabilities)			1,089,872	10	1,089,882
			15,598,921	10	15,598,931
Parent			Unrestricted	Endowment	Total
			funds	funds
			E
Fund balances at 31 December 2022 are represented		by:
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

	The Charitable Incorporated Organisation	The Charitable Incorporated Organisation	The Charitable Incorporated Organisation		had no material	had no material
31	Cash generated from operations						2023	2022
							F	F
	Surplus/(deficit) for the year						793,618	(740,775)
	Adjustments for:
	Investment income recognised	in	statement		offinancial	activities	(168,577)	(77,814)
	Amortisation and impairment of	intangible			assets		44	120
	Depreciation and impairment oftangible			fixed assets			14,833	14,502
	Movements in working capital:
	(Increase)/decrease in stocks						(5,222)	7,601
	(Increase) in debtors						(46,038)	(27,757)
	(Decrease)/increase in creditors						(227,080)	103,177
	Cash generated from/(absorbed		by) operations				361,578	(720,946)