Transparency Statement 6

Transparency Statement 6
6th December 2016

As we get ready to celebrate our reopening it feels like a good time to reflect on our history.

We have always strived to be the best here in Farringdon. Whether that’s the careful design and attention to detail from the founders Keith Reilly and Cameron Leslie all those 17 years ago when they built this space, to the ongoing challenges and updates to our systems that are necessary in the modern world. We’re undertaking some of these right now as we prepare to reopen and begin a new chapter in our story.

From its humble beginnings, fabric has grown to be a place where international and home grown talent can be nurtured and experienced by all. We will continue to provide this creative and inclusive environment and look forward to all our friends and family being a part of this as they always have been.

So we face the future with great anticipation and long may our little disco at EC1 thrive.

This longevity relies on so many things, and we are up for the challenge. The challenge of bringing in the best artists from the UK and around the world, the best sound and light experience and best night out for everyone every single weekend.

Our longevity also relies on you our supportive clientele who we are so dependent on, we still need your help. We need you to come with the conditions of our reopening in mind and help us achieve a drug free environment. Come with respect for our zero tolerance policy and remember, there are no safe ways to take drugs.

We will do our best to look after you, we always have. When we reopen we will have a dedicated welfare officer in addition to our two highly trained medics but we need you to keep up your side of the deal.

Every single staff member at fabric realises that without you, our friends and family, we would not have been in a position to achieve this reopening, we will always be so thankful for that. We closed the donation site on Wednesday 23rd November at 5pm and I am amazed to say the fund at that time had swelled to an incredible figure of £333,618.

Today we offer our final financial statement that shows a substantial overage of over £100,000 that we are currently discussing how to manage. This is in a segregated account and will be available to fund not only our ongoing attempt to reform licensing guidance, led by Philip Kolvin QC, but also to assist other industry associated causes. We’re looking at several ideas including charitable status or a Trust to ensure proper financial governance of this large amount which is currently in a segregated account and all details of it will be reported monthly.

I can only conclude these 6 statements by saying Thank You from the bottom of my heart for all your support. I assure you, we will endeavor to provide a fabric where you, our family, can enjoy the experience for many years to come. I hope to see you all soon.

Gary Kilbey
fabric Managing Director

Financial Statement as at 5pm Monday 5th December.

Outgoings In Past 2 Weeks
Legal and Professional: £72,299.20
IT (Site Support): £300.00
T Shirt Purchases: £4,820.00
T Shirt Postage / Fulfilment: £3,856.00
Expert Witness Costs: £1,800.00
Charges : £2,792.50
Charge Backs: £139.40
Expenses: £350.46
Public Relations: £6,000.00

Total Costs: £92,357.56
Total Pledged: £333,618.00

Less Grand Total Costs
(T2-T6 inc £224024): £109,594.00

At Bank
Bank: £70,432.55
Paysafe: £38,381.24
PayPal: £780.21
Total at Bank: £109,594.00

Photo: Emilie Pria

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