THE SERPENTINE TRUST

Charity number: 298809
Charity reporting is up to date (on time)

Charity overview

Activities - how the charity spends its money

The Serpentine Trust's vision is to open up art, for everyone, for free. It is responsible for running the Serpentine South and North galleries, and its mission is to exhibit, commission and promote the understanding of art, architecture and design through varied Exhibition, Education and Public Programmes.

Income and expenditure

Data for financial year ending 31 March 2024

Total income:
£13,583,973

Text alternative for this canvas graphic is in the data table below.
Donations and legacies £6.29m
Charitable activities £5.59m
Other trading activities £1.65m
Investments £57.22k
Other £0

Total expenditure:
£14,565,144

Text alternative for this canvas graphic is in the data table below.
Raising funds £3.04m
Charitable activities £11.53m
Other £0

£0 investments gains (losses)

Total income includes £708,000 from 1 government grant(s)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

Text alternative for this canvas graphic is in the data table below.
Raising funds and other expenditure £3.04m
Charitable expenditure £11.53m

People

100 Employee(s)

14 Trustee(s)

Employees with total benefits over £60,000

Number of employees
£60k to £70k 3
£70k to £80k 1
£90k to £100k 2
£110k to £120k 1
£120k to £130k 1
£150k to £200k 1

Fundraising

No information available

Trading

One or more trustees are also directors of the subsidiaries

Trustee payments

No trustees receive any remuneration, payments or benefits from the charity.

What, who, how, where

What the charity does:
  • Education/training
  • Arts/culture/heritage/science
Who the charity helps:
  • Children/young People
  • Elderly/old People
  • People With Disabilities
  • People Of A Particular Ethnic Or Racial Origin
  • The General Public/mankind
How the charity helps:
  • Provides Services
  • Provides Advocacy/advice/information
Where the charity operates:
  • Throughout England

Governance

Registration history:
  • 21 March 1988: Standard registration
Organisation type:
Charitable company
Other names:
  • SERPENTINE GALLERY (Working name)
Company number:
02150221 Open in new window
Gift aid:
Recognised by HMRC for gift aid
Other regulators:
No information available
Policies:
  • Bullying and harassment policy and procedures
  • Campaigns and political activity policy and procedures
  • Complaints handling
  • Complaints policy and procedures
  • Conflicting interests
  • Financial reserves policy and procedures
  • Internal charity financial controls policy and procedures
  • Internal risk management policy and procedures
  • Investing charity funds policy and procedures
  • Paying staff
  • Risk management
  • Safeguarding policy and procedures
  • Safeguarding vulnerable beneficiaries
  • Serious incident reporting policy and procedures
  • Social media policy and procedures
  • Trustee conflicts of interest policy and procedures
  • Trustee expenses policy and procedures
Land and property:
This charity owns and/or leases land or property

Trustees

Trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. Generally trustees are treasurer, chair, board member etc. The trustees are responsible for keeping this list up to date and can do this by updating their details as they happen through the online service

14 Trustee(s)

Name Role Date of appointment Other trusteeships Reporting status of other trusteeships
THE HON MICHAEL R BLOOMBERG Chair 14 January 2014
None on record
Eugenio Gerardo Lopez Alonso Trustee 08 October 2024
None on record
Megha Mittal Trustee 19 March 2024
None on record
Lady Elena Foster of Thames Bank Trustee 30 June 2022
None on record
Robert Rosenkranz Trustee 18 December 2019
None on record
Nicoletta Fiorucci Trustee 18 December 2019
None on record
Maja Hoffman Trustee 21 March 2018
None on record
Ruth Mackenzie Trustee 08 March 2017
None on record
Amanda Miriam Sharp Trustee 27 September 2016
None on record
Lynette Yiadom-Boakye Trustee 11 April 2016
None on record
JONATHAN PAUL WOOD Trustee 26 February 2015
COUNCIL FOR DANCE, DRAMA AND MUSICAL THEATRE
Received: On time
BARRY TOWNSLEY CBE Trustee 18 January 2012
None on record
MARCUS JARLATH BOYLE Trustee
None on record
THE HONORABLE MRS FELICITY WALEY-COHEN Trustee
None on record

Financial history

" role="img"> Text alternative for this canvas graphic is in the data table below.

Financial period end date

Income / Expenditure 31/03/2020 31/03/2021 31/03/2022 31/03/2023 31/03/2024
Total gross income £11.15m £5.95m £10.43m £11.95m £13.58m
Total expenditure £10.50m £6.76m £11.45m £13.55m £14.57m
Income from government contracts £75.77k £42.00k N/A N/A N/A
Income from government grants £1.20m £1.58m £3.14m £1.22m £708.00k
Income - Donations and legacies £6.16m £4.99m £6.47m £6.79m £6.29m
Income - Other trading activities £2.05m £554.48k £2.11m £2.04m £1.65m
Income - Charitable activities £3.99m £1.40m £2.84m £3.08m £5.59m
Income - Endowments £1.06m £1.00m £1.00m £0 £0
Income - Investment £0 £10.17k £4.04k £31.33k £57.22k
Income - Other £0 £0 £0 £0 £0
Income - Legacies £0 £0 £0 £0 £0
Expenditure - Charitable activities £7.95m £4.83m £8.46m £10.55m £11.53m
Expenditure - Raising funds £2.56m £1.93m £2.99m £3.00m £3.04m
Expenditure - Governance £50.85k £32.75k £38.95k £66.33k £67.11k
Expenditure - Grants institution £0 £0 £0 £0 £0
Expenditure - Investment management £0 £0 £0 £0 £0
Expenditure - Other £0 £0 £0 £0 £0

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

" role="img"> Text alternative for this canvas graphic is in the data table below.
Asset / Liability 31/03/2020 31/03/2021 31/03/2022 31/03/2023 31/03/2024
Own use assets £9.61m £8.81m £8.25m £8.17m £7.92m
Long-term investments £0 £2.26m £3.26m £2.28m £322.51k
Other assets £6.84m £5.98m £4.66m £4.96m £5.15m
Defined benefit pension scheme asset or liability £0 £0 £0 £0 £0
Total liabilities £2.79m £3.20m £2.35m £3.18m £2.14m

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 March 2024 20 December 2024 On Time
Accounts and TAR 31 March 2024 20 December 2024 On Time Download Open in new window
Annual return 31 March 2023 19 December 2023 On Time
Accounts and TAR 31 March 2023 19 December 2023 On Time Download Open in new window
Annual return 31 March 2022 17 January 2023 On Time
Accounts and TAR 31 March 2022 17 January 2023 On Time Download Open in new window
Annual return 31 March 2021 17 December 2021 On Time
Accounts and TAR 31 March 2021 17 December 2021 On Time Download Open in new window
Annual return 31 March 2020 04 December 2020 On Time
Accounts and TAR 31 March 2020 04 December 2020 On Time Download Open in new window
Submit annual return Open in new window

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

MEMORANDUM AND ARTICLES INCORPORATED 24/07/1987 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 18/05/1998 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 15/08/2000 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 13/05/2005 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 08/12/2015

Charitable objects

TO PROMOTE, IMPROVE, DEVELOP AND MAINTAIN PUBLIC EDUCATION IN ALL FORMS OF ART AND MUSIC.

Area of benefit

The area the charity can operate in, as set out in its governing document.

NOT DEFINED

Contact information

Address:
Serpentine Gallery
Kensington Gardens
LONDON
W2 3XA
Phone:
0207402 6075
Email:
information@serpentinegalleries.org
Website:

www.serpentinegalleries.org Open in new window