SOUTHBANK SINFONIA FOUNDATION
IA company limited by Euaranteel
FINANCIAL STATEMENTS
FOR THE PERIOD
01 JANUARY 2023- 31 DECEMBER 2023
Company Reglstratlon Number. 10284465
Registered Charlty Number: 1169535

SOUTHBANK SINFONIA FOUNDATION (UMITED BY GUARA￿rEE)
LEGAL AND ADMINisfRATIVE INFORMATION
Trustees
C F Monfries
J M BerrnanCBE
T E Long CBE
P J H S Wolff-In8ham
Secretary
B Humphrey
Charlty Number
1169535
Compony Number
10284465
Reglstered Offi¢e & Prlndpal Addres5
St John's Smith Square
London
SWIP3HA
Independent Examlner
Mark Cummlns FCCA FCIE
TC Group
The Courtyard
Shoreham Road
Upper BeedlnB
Steyning
Wèst Sussex
BN44 3TN
Bank
Unity Trust Bank IUTBI
PO Box 7193
Planetary Road
Wlllenhall
WVI 9DG
Investment Mana8er5
EFG Prlvate Bank Ltd
Lecunfield House
Curzon Street
London
WIJ 5JB
Solicitors
Counterculture Partnèrship LLP
Unit 115
Ducie House
Ducie Street
Manchester
Ml 21W

SOUTHBANK SINFONIA FOUNDATION {LIMrrED BYGUARANTEE)
CONTENTS
Page
Trustees, Report Ilncorporating Directors, Report)
Statement of Trustees. Responsibillties
Independent Examiner'5 Report
Statement of Financial Activities
Balancè Sheet
Cash Flow Staternent
Notes to the Financlal Statements

SOUTHBANK SINFONIA FOUNDATION {LIMtfED BYGUARANTEE)
TRUSTEES. REPORT (INCORPORATING THE DIREcfoRS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees have pleasure in presenting thelr report and the financial statements of the company for the
financial year l January 2023- 31 December 2023. The Trustees, report also acts as the Directors, ￿port for the
purposes of company law.
Changes to the Trustees are DW Sutherland Iresigned 12th March 20241 and TE Long lappolnted 12th March
20241.
Oblectlves and attivities
Southbank Slnfonia Foundation I"the Found31ion"I was established in 2016 to support and further the work of
the orchestra Southbank Sinfonia. itself a registered charlty (No. 10924611 established in 2002. Slnce its launch,
SoLrthbank Sinfonia has done much to transform graduate musicbans, prospects by bridgin8 the g8p between
education and professional careers. bringing talented youn8 player5 to learn and work intensively together for
one concertseason and glvingthem a vital sprlngboard into the profession. Through this'Fellowship' programme
they collaborate with some of the world's finest artists and In turn are encouraged to seize their potential a5 role
models, enabling the gfft of music entrusted to them to be safely passed on to younger generations.
By accruing and being the steward of MO￿ svbstantial donations and legacles, It Is hoped that the Foundation
may underpin and further fuel what Southbank Sinfonia is able to achieve, supporting Its fijture and galvanising
the role it plays in Brwtain's muslcal ecology by enabling 6t to do thlngs that cannot be afforded in its nomial
bud8et.
Specifically, the Foundation's charitable oblects are, for the public benefit, to:
relieve unemployment, poverty and protert the heahh of young musician5-
advance the education of the public in the art and science of music
by supporting the actwities of 5outhbank Sinfonia (the "Orchestra'l in £¢J-operation with the Orehestra's senior
managers and trustees. in particular but not exclusively by providing financial and other support to
al enable the Orchestra to innovate and undertake new activities,
bl extend what the Orchestra offers by procuring further P￿mIseS for performance, rehearsal and
other activitie5, and
cl make grants and bursaries to aSSlSt the Orchestra's individual beneficiaries.
The Foundation achieves Its charitable objerts by making grants of financial 5UPPOrt to Southbank Sinfonia, in
Particular to provide Scope for the orchestra to innovate beyond its regular mean5, and to provide relief from
hardship for the orchestra's muslclans.
Trustees of the FoundatSon meet at lea5ttwI￿ yearlyto review applications forsupport from Southbank Sinfonia,
and to address the current position of the Foundation itself and its investments. Trustees may meet on further
occasions to address any significant issues arisin& principally any additional appeals for support from Southbank
Sinfonia. The trustee5 have regard to the Charity Commi55ion'5 guidance on public benefit; all grants arè awarded
to Southbank Sinfonia which, as a re8lstered charity. 15 obliged to undertake its actlvities for the benefrt of the
public.
In awarding grants, Trustees are mindful to balance the needs of both the current and future beneficiaries of
Southbank Sinfonia's work, and as such have decided for the tlme-being that the capital held by the Foundation
will only be spent towards applications that will 'significantly enhance the scope and ambition of Southbank
Sinfonia's activities, and that, in the absence of exceptional circumstan￿$ as have arisen in recent years, the
majorlty of grants will generally be awarded up to the level of income or capital Bain generate(J by the
Foundation's hèld investments during the year. Each grant request is assessed against ihese considerations.

SOUTHBANK SINFONIA FOUNDATION (LIMrrED BY GuARA1￿EE)
TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
Southb3nk Slnfollia'5 fundamental charitable objects mirrur those of the Foundation,. a5 a result, any grant
awarded to Southbank Sinfonia for tts benefJt meets the charitable aims of the Foundation.
Yèar-round, In addition to fundraising for the orchestra's ongoing activities, Southbank Sinfonia's management
team endeavours to raise awareness of the Foundation as a stewardship charity for legacy donations, both in
print and throuBh dedicated web pages on its website.
From June 2024, Southbank Sinfonia will rebrand to become 'Sinfonia Smith Square,, following its acquisition of
the concert hall 'St John's Smith Square, in April 2021.
Achievements and performan
In late September2022 Southbank Sinfonia I'SbS'I welcomed r(s flrst new Fellowship cohort slnce Stjohn's Smith
SquaTe I'SJSS'I became rcs home, re-establishing its Fellowship programme timetable to coincide with the
'academic year, and performing a full programme of festivals and concerts (both at SJSS and further afield)
culminatln8 in the annual Anghlarl Festival in July 2023. This then was followed bythe current Fellowship cohort
being welcomed in Autumn 2023 2nd the start of a new programme of creative performance.
During this period, the Foun(iatlon's Trustees remained in close contsct with the Trustees and senior leadership
team of SBS and received a number of grant applications from Sbs for financial support.
The Foundation's trustees have considèred each request carefully to ensure that it met tts charitable oblectlves
and the tru5tee5' grant-making policy, asking for supplementary informatlon and actions from Sbs whère this
was felt ne￿Ssary.
Future plans
Having established an effective process for reviewing grant applications, the Foundation expects to welcome
further application5 for review at its regular meetings as 5bS continues to seek io deliver its ambltlous business
plan, whilst both Sbs and the Foundation recoEnise that the primary sources and focus of Sbs. fundraising are
external to the Foundation. The Foundation will continue to consider grant application5 which enable Sbs to
pursue activities that establish its reputation and impact beyond the resourceg of its normal budget as well a5
continue to consider favourably those which alleviate hardship of individual musicians.
The Trustees will contlnue to monitor ihe performance of the Foundation's invested funds, mèlntaining a v￿W
on the appropriateness of the adopted investment strategy to meet its objectives. Trustee5 will meet annually
with the investment manager.
Flnanclal review
In 2023, the charity received income of £92,74112022: £879,257), made net reali5ed and unrealised investment
gains of £32,59812022.. losse5 of £140,437) and expended £231,56912022: £620,053) on delivering its charitable
objecrs and on managing its Investment portfolio.
The charity continues to benefit from EFG Private Bank Ltd's agreement to manage the invested funds with a
$18nificant discount on their standard investment management fee for the bespoke servlce provided. This fee
reduction ￿ accounted for as a gift-in-kind to the Foundation, as detailed in Note 3 to the accourbts.
Following disCU55ions Wlth the investment manager, the Trustees continues to adopt a 'total return. investment
strategy, instructing the investment manager to maximise the investment return with no preference for income
or capital gain, with the aspiration that this will generate the highest value to enable fulfilment of the long-term
objective5 of the Foundation to support both the current and future beneficiaries of Southbank Sinfonia.

SOUTHBANK SINFONIA FOUNDATION (LIMITED BY GUARAKfEE)
TRusfEES' REPORT (INCORPORATING THE DIREcfoRS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
Glven the operating Structure of the Foundation. the Trustees do nDt feel it necessary to 3dopt a fomial reserve5
policy. The Foundatlon exlsts exclusively to receive legacies and donations fur, and provide financial support to,
Southbank Sinfonia and the charity would theoretically, in ex￿ptIonal circumstances, conslder spending down
the entirety of its funds to this end. The cost of the normal annual management, and governance of the
Foundation is small, and the chartty has no direct employees. Should such an exceptional Circumstance arise, the
Trustees wovld ensure that sufflclent funds were retained to meet any outstandlng costs of this nature,
At the end of 2023, Southbank SinfonSa Foundation held total unrestrlcted fund5 Qf £898,98612022.' £1,013,532)
and totsl restricted fund5 of £789,33912022: £781,023).
The Trustee5 have analysed and addressed the major rlsks to whlch the Foundation is exposed, and these wlll
continue to be reviewed annually. Principal among these is the rlsk to the Foundation's invested capital and the
level of return it generates; this risk Ss managed by adopting a low-to-medium risk profile of the held investments.
reviewing quarter￿ investment reports aftd meeting with the investment manager at least annually. In addition,
the Trustees are aware of the need to ensure a contlnued strong working relationship wlth Southbank Sinfonia
itselFto maintain congruence of the two charities, long-term objectives. This is achieved by maintainin8 a level
of commonality between the Boards of both charities, whilst retaining the funttional independèncè of each. and
by Trustees of the Foundatlon maintaining regular contact and dialogue with the Southbank Sinfonia's Trustees
and managementteam.
Structurei governance and management
The Foundation is a company limited by guar2ntee governed by Its Memorandum and Articles of Association
lincorpo￿ted 18July 2016, and amended byspecial resolution on 19 September 20161. It is registered as a charity
with the Charity Commission. The entity 15 Eovernefl by the Board of Trustees. The Trustees also art as Direttor5
for the purposes o* company law and hold no share capital. The four Trustee5 a15Q Oct as Members of the
Company) and the liability of each In the event of a winding-up i% limited to £10.
The tharty employs no staff, but utilises the servlces of an employee of Sbs to undertake the role of Company
Secretary for the charlty, in addition to expertise from Sbs's Finance team staff, the CO￿ of which is recharged to
the Foundation by Southbank Sinfonia.
The Trustees have carrled out a review of the strategic and operatlonal rlsks faced by the Foundatlon, and
monttor the measures in place to manage exposure to these risks. Trusteès are recruited. appointed and trained
by the existingTrustees. No external persons are entitled to appoint Trustees. Trustee meetings are held at least
vice a year to ieview the financial and operational state of the Foundation, to consider grant applications and
to monitor the impact of grants previously awaTded. The Trustees will continue to actively consider the
recommendatlons set out in the Charity Governance Code as the governance policies and procedures of the
Foundation continue to evolve.

SOUTHBANK SINFONIA FOUNDATION {LIMITED BYGUARANTEE)
TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Responslbllities of the Trustees
The Trustees, who are also the Dlrectors of the Foundation for the purposes of company law, are responsible for
preparing the Trustees, Report and the accounts in accordance wlth applicable law and United Kingdom
Accountin8 Standards (United Kingdom Generally Accepted Accounting Principlesl.
ompany law require5 the Trustees to prepare financial statements for each financial year. which give a true and
fair view of the State of affairs of the Foundatlon and of the incoming resour￿5 and application of resour￿$,
including the income and expenditure. of the charitable company for that year. In preparing those financial
statements, the Trustees are required to-.
select suitable accountin8 policies and then apply them consistently
observe the methods and principles in the Charities SORP Isee note 2.1 on page 9 below};
make judgements and estimates that are reasonable and prudent; and
prepare the financial statements on the golng concern basis unless it Is inappropriate to presume that the
charitable company will continue in business.
The Trustees are responsible for keeping adequate accounting records which disclose wtth reasonable accuracy
at anytime the financial position o*the Foundation and which enable them to ensure thatthe financial statements
comply with the Companies Act 2006. They are also responsible forsafeguardin8 the assets of the Foundation and
hence for taklng reasonable steps forthe prevention and detection of fraud and other irregularities.
y order of the Trustees,
Mary Monfries
Chair
Date.. 04.06.2024

SOUTHBANK SINFONIA FOUNDATION (LIMITED BY GUARANTEEI
INDEPENDENT EXAMINER'S REPORTTO THE MEMBERS
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31
December 2023.
Responslbilitle5 and bas1$ of report
As the charl￿5 trustees of the Company land a150 tts directors for the purposes of company lawl you are
responsible for the preparation of the accounts in accordance with the rèquirements of the Companies Act
20061'the 2006 Act'l.
Having satlsfied myself that the accounts of the Company are not roquired to be audlted under Part 16 of the
2006 Act and are eliglble for independent examination, I report in respect of my examination of your chariws
accounts as carried out under section 145 of the Charitles Act 2011 I'the 2011 Att'l. In carrying out my
examination I have followed the Directions glven by the charity Commission under sectlon 1451519bl of the
2011 Act.
Independent examlnerf5 Statement
I have completed my examination. I confirm that no matters have come to my attention In connectlon wlth the
examination giving me cause to believe..
accounting records were not kept In respect of the Company a5 required by section 386 of the 2006
Act; or
2. the accounts do not accord wlth those records: or
the account5 do not comply with the 3ccountlng requirements of section 396 of the 2006 Act other
than any requirement that the accounts give a 'true and falrf view which is not a matter considered
as part of an independent examinatlon. or
4. the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting bycharities.
I have no concern5 and have come across no other matters in connection with the examinatlon to whkh
attention should be dTawn In this report in order to enable a proper understanding of the accounts to be
reached.
Mark Cummlns FCCA FCIE
for and on behalf of TC Group
The Courtyard
Shoreham Road
Upper 8eedlng
Steyning
West Su55ex
BN443TN
Dated.. It
j4%￿

SOUTHBANK SINFONIA FOUNDATION (LIMITED BYGUARAf+lTEE)
STATEMENT OF FINANCIAL AcfiviTIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNTI
FOR THEYEAR ENDED 31 DECEMBER 2023
Unresiricted
unds
Restrlcted
funds
Total
2023
Total
2022
INCOME FROM:
Donations and legacies
Invèstments
Total incomè
Notès
14.623
25,890
40.513
16.419
35,809
52,228
31,042
61.699
92,741
845.643
33.614
879.257
EXPENDITURÉ ON:
Raising funds
Charitable activltles
Total expenditure
16.216
171,441
187,657
16,216
215,353
231,569
16,139
6D3,914
620,053
43.911
43,912
Not Ir￿QMelleXpenditUreI
1147,144)
8.316
1138.8281
259,204
Net gains I Ilossesl on
investments
32,598
32,598
1140,4371
Net movèment In fund5
1114,5461
8,316
1106.2301
118,767
Reconclliatlon of funds
Total funds brought forward
1.013.532
781.023
1,794,555
1,675,788
Total funds carrled forward
898,986
789.339
1,688.325
1,794,555
The Statement of Financial Activities includes all galns and losses recogni5ed in the year.
The notes on pages 9 to 15 form part of these financial statements.

SOUTHBANK SINFONIA FOUNDATION IUMITED BYGUARAMfEEI
BALANCE SHEET
AS AT 31 DECEMBER 2023
2022
Notes
FIXED ASSErs
Investments
Cash held ￿ part of investmertt portfolio
752.737
16.562
769.299
936,784
67,662
1,004,446
CURREKfASSErs
Debtors
Cash at bank and In hand
131.685
816,545
1.709
800,910
802,619
CURREP￿ LIABIUTIES
Creditors due within one year
{19,2041
112,5101
NEf CURRENT ASSETS
919.026
790,109
TOTAL NET AsS￿s
1,688,325
1,794,555
FUNDS
Restrirted funds
Unrestrlcted funds
io
789.339
898,986
1.688,325
781,023
1,013.532
1,794,555
The charity 15 entitled to the exemption from ihe audit requirement contained in section 477 of the Companies Act
2U06, for the year Ènded 31 December 2023. No member of the charity has deposited a notice, pursuant to section
476, requiring an audlt of these accounts.
The trurtees acknowledge their responsibilitie5 for:
ensuring that the Charity keeps accounting records which comply with se¢tlons 386 and 387 of the
Cornpanies Act 2[￿15 and
b. preparing ￿￿oUntS which give a true and fair view of the State of affairs of the d)arity as at the end of the
financial period and of its incoming resOur￿S and application of reSoUr￿S, including Tts Incorne and
expenditure, for the financial period in accordartcè wf(h the requirement5 of section5 394 and 395 and
which otherwlse comply with the requirements of the Companies Act 2006 relatlng to accounts so far as
applicable to the charitable company.
The financlal statements have been prepared in accordance with the special provisions of Part 15 of the Companles
Act 2006 relating to small companies.
The financlal statementswere approved and authorised by the Board of Trustees on 04.06.2024 and sigrted on their
behalf by:
M C F Monfrles
Chair
Company Number- 10284465

SOUTHBANK SINFONIA FOUNDATION {LIMITED BY GUARAKfEE)
CASH FLOW
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Cash flows from Oper￿Ing actlvltles
Net incomellexpenditurel for the reportin8 perlod. as
per the Statement of Financial Activrties
1106,2301
118,767
AdJu5tm•nts for.
Unrealised1055esJlgainsl on investments
Dividends and interest from investments
Loss/lgalnl on sale of fixed asset investments
Ilncreasel in trade and other debtors
Increase/lde￿ease} in trade and other creditors
126,5421
161,699}
{6,Q561
{129.9761
110,868
133,6141
29,569
11,3111
{103,5321
16.694
1313.809)
12CI.747
Cash flows from Investlng artlvlties
Dividends and interest from investments
Proceeds from sale of investments
Purchase of investrnents
61,699
33,614
817,894
(550,1491
1,250,832
1660,4251
Net cash used In Investlng a¢tlvities
329.444
624.021
Change In tash and cash equlwdlents In the yèar
15.635
744,768
Cash and cash equNalents at the beginning of the year
800,910
56,142
Cash and cash eqtsivalents at the end of the year
816,545
8￿,910
The notes on pages 9 to 15 form part of these financial statements.

SOUTHBANK SINFONIA FOUNDATION (LIMITED BYGUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER2023
STATLITORY INFORMATION
Southbank Sinfonia Foundation Is a company limited bv Buarantee. The members of ihe company are the
Trustee5 named on thè legal and admin Information page. In the event of the charity being wound up, the
liabhlity in respect of the guarantee 15 limited.
ACCOUNTING POUCIES
2.1 Basls of preparation of finandal ststÈments
The financlal statement5 have been prepared in accordance with Charitles SORP {FRS1021- Accounting and
Reporting by Charitles.. Statement of Recomrnended Practi￿ applicable to charities p￿parIng their accounts in
accordance with Flnancial Reporting Standard applioble in the UK IFRS 1021 leffective l January 20191, the
Financial Reporting Standard applicable in the UK IFRS 1021 and the Companies Act 2006.
The financial staternent5 are p￿Pared in stèrlin& which is the functiona5 currency of the charity. Monetary
mounts In these financlal statements are rounded to the nearest pound.
Southbank Slnfonia Foundation meets the definitlon of a public benefit entity under FRS 102. Assets and
liabilities are Initially recognised at histOTical cost or transaction value unless otherwise stated in the relevant
accounting policy. Listed investments are held at falr value.
2.2 Golng Concern
At the time of approving the financial ￿atements. the trustees have a reasonable expectation that the CharSty
has adequate resour￿$ to continue in operational exi5ten¢e for thè foreseeable future. In arrNing at this
condusion, the trustèes have taken into account the ongoing economic uncertainty on its actN¢ties and
finances. Thu5 the trustees continue to adopt the going ￿ncern basis in preparing the financlal statements.
2.3 Income
Voluntary income 55 received by way of donatlons and gifts and is included in full in the Statement of Financial
Activities when recelvable.
Legacy income is recognised at the earlièst date on whlch either- the charity is aware that probate has been
granted, the estate has been finalised and notificatton has been made by the executorlsl that a distribution
will be made, or when a d15tribution is rÈcelved from the estate. Retèipt of a legacy, in whole or In part. is only
onsldered probable when the amount can be measured reliably and the charity has been notified of the
executo¢s intention to make a distrlbutS0n.
Investment Income including dlvidends and interest is accounted for on an accruals basis.
2A Expendlture
Expendtture Is recognlsed in the period In which It is IncU￿ed. Expenditure inrludes attributable VAT which
cannot be recovered.

SOUTHBANK SINFONIA FOUNDATION (LIMITED BY GUARAMfEE)
NOTES TO THE FINANCIAL STATEMETrrrs
FOR THE YEAR ENDED 31 DECEMBER2023
ACCOUNTING POLICIES Icontlnuedl
2.5 Expendlture ¢ontlnued
Support costs are those inCUr￿d dlrectly in support of expenditure on the objects of the charity and include
governance costs. These costs are alknr6ted to expenditure on charitable activities.
90% of the investment mana8ement charge5 stated above has been donated back to Southbank 5inlonia
Foundation by EFG Private Bank Ltd a5 a reduction in their fee, and accounted for as a gift-in-kind as detailed in
Note 3.
2.6 Interest r￿e￿ab]e
Interest on fund5 held on dÈF)051t is included when ￿CeIVable and the amount can be mèasured reliably by the
tharity.. thls is normally upon notiflcation of the Interest paid or payable by the Institution with whom the funds
are deposited.
2.7 Investments
Fixed ass￿ investment5 are a form of financial instrument and are initially recognised at their transartion cost and
subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in
which tase it is measured at cosi less impairment. Investment gains and I0￿e5, whether reallsed or unrealised,
are combined and presented as'Gains/lLos5esl on investments, in the Statement of Flnancial Activities.
2.8 Debtors
Trade and other debtors arè recogn15ed at the settlement amount after any trade d15count offered. Prepayments
are valued at the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and In hand includes cash and short-term highly liquid investments wlth a short maturity of three
months or less from the date of a¢quisition or opening of the dep051t gr similar account.
2.10 Llabilities and provislons
Creditor5 and provisions are recognised where ihe charity has a present obli8ation resulting from a past event
that will probably result in a transfer of fund5 to a third party and the amount due to settle the obligation can
be mè8sured or estimated reliably.
2.11 Taxatlon
No provision has been made for taxation as the entlty is a public benefit entitywhich is exemptfrom UK dirèct
taxation on its charitable activities.
2.12 Fund acrounting
General funds are unrestricted funds which are avallable for use at thè discretlon of the Trustees in furtherance of
the Eeneral objectives of the charity and which have not been designated for other purposes.
Rèstricted fund5 are funds whkh ale to be used in accordance with specific restrictions imposed by donors or
which have bèen raised by the charity for particular purposes. The aim and use of each restricted fund Is set in the
notes to the financial statements.
2.13 SlgnMcantJudgements and ostimations
The Trustees have given consideration to the slgnificant judgemen15 and estlmates made in compiling the
finantial 5tatewents. The Trustee5 do not consider estimates tsr judgements made to be materlal to the
financial statements. Accruals are made whèn artivity h35 occurred for which a cash outflow 15 expected, but
for which no invoice h8s been received. Estimates are based on prior experience and knowledge.
io

SOUTHBANK SINFONIA FOUNDATION (LIMITED BY GUARA￿fEEl
NOTES TO THE FINANCIAL sfATEMErirs
FOR THE YEAR ENDED 31 DECEMBER 2023
INCOME FROM DONATIONS AND LEGACIES
Unrestrirted
funds
2023
Restrlrted
funds
2023
Total
funds
2023
Total
funds
2022
Genetal donations
Gifts in kind
16,419
16.447
14,595
31,042
845,643
14.525
845,643
14,595
14.623
16.419
INVESTMENT INCOM£
Unre5trirted
furtds
2023
Restrfrted
funds
2023
Total
fund$
2023
Total
funds
2022
Bank Interesi receivable
5n¢ome from inve5trnents
277
25.61a
25.890
35.809
36,086
2S,613
61.699
8,163
25,451
33,614
35.809
EXPENDITURE
Grant
8lvlng
2023
Investment
¢harges
2023
Support
costs
2023
Total
funds
2023
Total
funds
2022
Raising funds
Charitable activltles
Total expenditure
16.216
16.216
215,353
231.569
16,139
603,914
620,053
206,268
206,268
9.08S
9M85
16,216
Urtrestrlcted
funds
2023
Restrfcted
funds
2023
Total
funds
2023
187,657
43,912
231￿69
SUPPORT COSTS- INCLUDING GOVERNANCE COSTS
Unrestricted
fund5
2023
Restrlcted
funds
2023
Total
funds
2023
Total
funds
2022
GovernaTr￿= Staff rechar8es Inclu¢Jing
Company Secretarlal
Governance: Independent
examination fee5
I￿uranCe
Bank charges and interest
2.910
2,910
2,910
S,645
4.800
648
1118
9.085
587
133
8,430
11181
9.085
Bank charges this year aro negative due tu a refund of fees.
li

SOUTHBANK SINFONIA FOUNDATION {LIMITED BYGUARANTEE)
NOTES TO THE FINAf4CIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
FIXED ASSET INVESMEKrs
Llsted
Investments
Total
Fair value
At l January 2023
Additions in the year
Disp05als in the year
Revaluations in the year
At 31 December 2023
936,784
550,149
1760,7381
26,542
936,784
550,149
1760,7381
26.542
752.737
752.737
Orlglnal ¢05t
741,625
741,625
The additions and disposals figure5 above includes rnovement on Forex wSthln the investment portfolio
managed by EFG. Capital cash is cash hèld for investment purpose5 Wlthin the Investment Portfolio.
Fluctuations in the balancè held are prirnarily a5 3 result of the timing of sales and purchases of inve5tments.'
proceeds from dlsposals are reinvested in listed investments. Capital cash Is therefore not considered part of
working capital management of the organisation and is held. as per the FRS 102 SORP, as a fixed asset.
Net gainslllosse51 on inve5trnents include all reallsed and unrealised gains and10$5e5. Unreglised gains were
£26,542 12022= losses £110,868). Reali5ed gains on disposal of fixed assel investments were £6.05612022-
I0￿eS £29.5691.
DEBTORS
2023
2022
Loan to sO￿hbank Sinfonla
Prepayments and accrued income
130,000
1.685
1,709
131,685
1.709
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Trade creditors
Grants pa¥a￿e
Other creditors and accruals
3.035
20,726
5,443
7,710
4,800
12.510
29,204
12

SOUTHBANK SINFONIA FOUNDATION (LIMITED BY GUARAMfEE)
NOTES TO THE FINANCIAL sfATEMEKrs
FOR THE YEAR ENDED 31 DECEMBER2023
1Q ￿ATEME￿r OF FUNDS
Ati
January
2023
At31
December
2023
Income Empendlture
Unrestrlrted general funds
General funds
1,013.532
1,013,532
4L).513
40,513
1155,0591
{155,0591
898.986
898.986
Re#rlcted ful￿$
Fellowship fund
52,228
78L,023
781,023
52,228
52,228
143.912
143,9121
789,339
Total fund$
1,794,555
91741
1198.9711
1,688,325
RESTRICTED FUNDS
The restricted fund is called The Fellowship Fund, and is for the purpose5 of supporting the Fellowshlp
orchestral attivitie5 of SoLrthbank Slnfonia and providing Erants to musicians.
11 ANALYSIS OF NET ASSETS 8EnNEEN FUNDS
Analy515 of net assets between funds- current period
Unrestrlcted
fund5
2023
Restrlcted
funds
2023
Total funds
2023
Flxed a55et investments
Current assets
Credittsrs due within one yèar
769,299
158.891
129,2041
898,986
769.299
948.230
129.2041
1.688325
789.339
789,339
Analysls of Det assets between funds- prior perlod
Unrestritted
funds
2022
Re5tri¢ted
funds
2022
Total fijnds
2022
Fixed asset Invèstments
Current assets
Creditors duè within one year
1,004.446
21,596
112,5101
1.013,532
1,004,446
802.619
112.5101
1.794,555
781.023
781,023
13

SOUTHBANK SINFONIA FOUNDATION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
12 TRUSTEE EXPENSES
While acting In the capaclty of a Trustee. no person ￿CeIVed remuneration or relmbursement ot expense5 in
the current or prior rèporting period5.
RELATED PARTY TRANSAcfioNS
Trustees DW Sutherland Ireslgned 12 March 20241 and TE Long (appointed 12th March 20241 were also
Trustee5 of SouthlKnk SinfonSa duringthe reporting period. Duringthe yearthe charity madegrants of £206,268
12022.. £595,484) to Southbank Sinfonia. The balance of grants payable at the period end was £2D,72612022'.
During thè yèar the charity made a short term loan of £130,000 to Southbank Sinfonia to a$515t with 5hortterm
cash flow, is repayable on demand and is non-lnterest bearing.
During the year the charity recèived donaiions from Southbank Sinfonla of £16,41912022= £824.8681.
Soulhbank Sinfonia Foundation Is connected to Southbank Sinfonla benefits from shared space and share
sèrvice5.
During the year Southbank Sinfonia charBed £3,035 for staff and m3naÉement recharges to Southbank 5infonla
Foundation12022'. £2,9101. At the period end £3,D3512022'. £2,910) remained oulstsndinB.
14 COMPANY UMITED BY GUARANTEE
The charity 15 a company lirnited by guarantee and ha5 no share capital. The liability of each member in the
event of a winding-up 15 limited to £10. There are currently 4 member5.
15 CONTROLLING PARTY
The charitable company 15 controlled by the Btsard of Trusteps, who are also directors under company law.
14

SOUTHBANK SINFONIA FOUNDATION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
16
STATEMEpif OF FINANaAL AcnvrriES COMPARATIVE FUNDS-31 DECEMBER 2022
Unrestrlcted
nds
Restricted
funds
Total
2022
INCOMEFROM:
Donations and lega¢ies
Investments
Total I￿oMe
20,775
25,451
46.226
824A68
8.163
833,031
845.643
33,614
879,257
EXPENDITURE ON:
Ra￿Ing funds
Charltable activltie5
Total expendltur•
16,139
551,906
568,045
16,139
603.914
620.053
52,008
52,008
Net Incomel{expendlture)
1521.8191
781,023
259,204
Net IIos5esl / gains on
investments
IldO.4371
1140,4371
Net mtyement In funds
1662,256
781￿23
118,767
Reconclllation of funds
Total funds brought forward
1.675,788
1.675,788
Total funds carrled fonvard
1.013,532
781.023
1,794,55S
15