Midsomer Norton & District Carnival Charity Association
Charity No. 1078139
Company No. 03819042
Trustees' Report and Unaudited Accounts
31 December 2024
Midsomer Norton & District Carnival Charity Association Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 3 | |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Balance Sheet | 6 | |
| Statement of Cash flows | 7 | |
| Notes to the Accounts | 8 to | 13 |
| Detailed Statement of Financial Activities | 14 to | 15 |
Page 1
Midsomer Norton & District Carnival Charity Association Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 03819042
Charity No. 1078139
Principal Office
38 Plumptre Road Paulton Bristol BS39 7RU Address Line 5
Registered Office
Broadway House Third Avenue Westfield Radstock BA3 4XD
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
B. Chamberlain (Resigned 1 April 2024) C. Collins S.R. Collins H.M. Franklin
Company Secretary
H.M. Franklin
Accountants
The Waldron Partnership Ltd 30 Circus Mews Bath BA1 2PW
OBJECTIVES AND ACTIVITIES
The company is a registered charity. The main object is to promote events for the benefit of the local community in Midsomer Norton and the surrounding area. All income of the charity will be applied to this object.
Page 2
Midsomer Norton & District Carnival Charity Association Trustees Annual Report
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
S.R. Collins Trustee
19 February 2025
Page 3
Midsomer Norton & District Carnival Charity Association Independent Examiners Report
Independent Examiner's Report to the trustees of Midsomer Norton & District Carnival Charity Association
I report to the charity trustees on my examination of the financial statements of Midsomer Norton & District Carnival Charity Association for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Marco Andrew Martin ACCA The Waldron Partnership Ltd 30 Circus Mews Bath
BA1 2PW 19 February 2025
Page 4
Midsomer Norton & District Carnival Charity Association Statement of Financial Activities
for the year ended 31 December 2024
| Unrestricted | ||||
|---|---|---|---|---|
| funds | Total funds | Total funds | ||
| 2024 | 2024 | 2023 | ||
| Notes | £ | £ | £ | |
| Income and endowments | ||||
| from: | ||||
| Donations and legacies | 4 | 8,000 | 8,000 | 8,000 |
| Charitable activities | 5 | 21,515 | 21,515 | 12,716 |
| Investments | 6 | 203 | 203 | 124 |
| Total | 29,718 | 29,718 | 20,840 | |
| Expenditure on: | ||||
| Charitable activities | 7 | 24,558 | 24,558 | 15,414 |
| Other | 8 | 7,298 | 7,298 | 6,718 |
| Total | 31,856 | 31,856 | 22,132 | |
| Net gains on investments | - | - | - | |
| Net expenditure | 9 | (2,138) | (2,138) | (1,292) |
| Transfers between funds | - | - | - | |
| Net expenditure before other gains/(losses) |
(2,138) | (2,138) | (1,292) | |
| Other gains and losses | ||||
| Net movement in funds | (2,138) | (2,138) | (1,292) | |
| Reconciliation of funds: | ||||
| Total funds brought forward | 15,844 | 15,844 | 17,136 | |
| Total funds carried forward | 13,706 | 13,706 | 15,844 | |
Page 5
Midsomer Norton & District Carnival Charity Association Balance Sheet
at 31 December 2024
| Company No. | 03819042 | Notes | 2024 | 2023 |
|---|---|---|---|---|
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 11 | - | 6 | |
| - | 6 | |||
| Current assets | ||||
| Debtors | 12 | 550 | 370 | |
| Cash at bank and in hand | 15,816 | 18,028 | ||
| 16,366 | 18,398 | |||
| Creditors:Amount falling due within one year | 13 | (2,660) | (2,560) | |
| Net current assets | 13,706 | 15,838 | ||
| Total assets less | current liabilities | 13,706 | 15,844 | |
| Net assets excluding pension asset or liability | 13,706 | 15,844 | ||
| Total net assets | 13,706 | 15,844 | ||
| The funds of the | charity | |||
| Restricted funds | 14 | |||
| Unrestricted funds | 14 | |||
| General funds | 13,706 | 15,844 | ||
| 13,706 | 15,844 | |||
| Reserves | 14 | |||
| Total funds | 13,706 | 15,844 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 19 February 2025
And signed on its behalf by:
S.R. Collins
Trustee 19 February 2025
Page 6
Midsomer Norton & District Carnival Charity Association Statement of Cash flows
for the year ended 31 December 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net expenditure per Statement of Financial Activities | (2,138) | (1,292) |
| Adjustments for: | ||
| Depreciation of property, plant and equipment | 6 | 2 |
| Dividends, interest and rents from investments | (203) | (124) |
| Increase in trade and other receivables | (180) | (370) |
| Increase in trade and other payables | 100 | 1,042 |
| Net cash used in operating activities | (2,415) | (742) |
| Cash flows from investing activities | ||
| Dividends, interest and rents from investments | 203 | 124 |
| Net cash from investing activities | 203 | 124 |
| Net cash from financing activities | - | - |
| Net decrease in cash and cash equivalents | (2,212) | (618) |
| Cash and cash equivalents at the beginning of the year | 18,028 | 18,647 |
| Cash and cash equivalents at the end of the year | 15,816 | 18,029 |
| Components of cash and cash equivalents | ||
| Cash and bank balances | 15,816 | 18,028 |
| 15,816 | 18,028 | |
Page 7
Midsomer Norton & District Carnival Charity Association Notes to the Accounts
for the year ended 31 December 2024
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the income charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market revaluation of fixed value at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
Midsomer Norton & District Carnival Charity Association Notes to the Accounts
Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, raising funds fundraising trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities charitable activities and services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
| useful life: | |
|---|---|
| Fixtures & Fittings | 25% reducing balance |
| Motor vehicles | 25% reducing balance |
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 9
Midsomer Norton & District Carnival Charity Association Notes to the Accounts
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Charitable activities Investments Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds Total funds 2023 2023 £ £ 8,000 8,000 12,716 12,716 124 124 20,840 20,840 15,414 15,414 6,718 6,718 22,132 22,132 (1,292) (1,292) (1,292) (1,292) (1,292) (1,292) 17,136 17,136 15,844 15,844 |
|---|---|
Page 10
Midsomer Norton & District Carnival Charity Association Notes to the Accounts
4 Income from donations and legacies
| Midsomer Norton Council 5 Income from charitable activities Carnival traders, adverts and collections Fund raising and surplus on run marshall 6 Income from investments Interest 7 Expenditure on charitable activities Expenditure on charitable activities Carnival traders, adverts and collections Fund raising and surplus on run marshall Governance costs Accountancy fees |
Unrestricted £ 8,000 8,000 Unrestricted £ 11,958 9,557 21,515 Unrestricted £ 203 203 Unrestricted £ 10,757 13,167 634 24,558 |
Total Total 2024 2023 £ £ 8,000 8,000 8,000 8,000 Total Total 2024 2023 £ £ 11,958 8,413 9,557 4,303 21,515 12,716 Total Total 2024 2023 £ £ 203 124 203 124 Total Total 2024 2023 £ £ 10,757 5,942 13,167 8,883 634 589 24,558 15,414 |
|---|---|---|
Page 11
Midsomer Norton & District Carnival Charity Association Notes to the Accounts
8 Other expenditure
| 8 | Other expenditure | |||
|---|---|---|---|---|
| Unrestricted | Total | Total | ||
| 2024 | 2023 | |||
| £ | £ | £ | ||
| Donations, gifts and awards | 4,849 | 4,849 | 4,392 | |
| Motor and travel costs | 72 | 72 | - | |
| Amortisation, depreciation, | ||||
| impairment, profit/loss on | 6 | 6 | 2 | |
| disposal of fixed assets | ||||
| General administrative costs | 2,371 | 2,371 | 2,324 | |
| 7,298 | 7,298 | 6,718 | ||
| 9 | Net expenditure before transfers | |||
| 2024 | 2023 | |||
| This is stated after charging: | £ | £ | ||
| Depreciation of owned fixed assets | 6 | 2 | ||
| 10 | Staff costs | |||
| The charity has no employees. | ||||
| 11 | Tangible fixed assets | |||
| Fixtures & | Motor | |||
| Total | ||||
| Fittings | vehicles | |||
| £ | £ | £ | ||
| Cost or revaluation | ||||
| At 1 January 2024 | 10,348 | 2,500 | 12,848 | |
| At 31 December 2024 | 10,348 | 2,500 | 12,848 | |
| Depreciation and | ||||
| impairment | ||||
| At 1 January 2024 | 10,343 | 2,499 | 12,842 | |
| Depreciation charge for the | 5 | 1 | 6 | |
| year | ||||
| At 31 December 2024 | 10,348 | 2,500 | 12,848 | |
| Net book values | ||||
| At 31 December 2024 | - | - | - | |
| At 31 December 2023 | 5 | 1 | 6 | |
| 12 | Debtors | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Trade debtors | 550 | 370 | ||
| 550 | 370 |
Page 12
Midsomer Norton & District Carnival Charity Association Notes to the Accounts
13 Creditors:
amounts falling due within one year
| amounts falling due within one year | |||||||
|---|---|---|---|---|---|---|---|
| 2024 | 2023 | ||||||
| £ | £ | ||||||
| Trade creditors | 2,160 | 2,060 | |||||
| Accruals | 500 | 500 | |||||
| 2,660 | 2,560 | ||||||
| 14 | Movement in funds | ||||||
| Incoming | |||||||
| resources | At 31 | ||||||
| At 1 January |
(including other |
Resources expended |
December 2024 |
||||
| 2024 | gains/losses) | ||||||
| £ | £ | £ | |||||
| Restricted funds: | |||||||
| Unrestricted funds: | |||||||
| General funds | 15,844 | 29,718 | (31,856) | 13,706 | |||
| Total funds | 15,844 | 29,718 | (31,856) | 13,706 | |||
| 15 | Analysis of net assets between funds | ||||||
| Unrestricted | |||||||
| Total | |||||||
| funds | |||||||
| £ | £ | ||||||
| Net current assets | 13,706 | 13,706 | |||||
| 13,706 | 13,706 | ||||||
| 16 | Reconciliation of net debt | ||||||
| At 31 | |||||||
| At 1 January | December | ||||||
| 2024 | Cash flows | 2024 | |||||
| £ | £ | £ | |||||
| Cash and cash equivalents | 18,028 | (2,212) | 15,816 | ||||
| 18,028 | (2,212) | 15,816 | |||||
| Net debt | 18,028 | (2,212) | 15,816 | ||||
Page 13
Midsomer Norton & District Carnival Charity Association Detailed Statement of Financial Activities
for the year ended 31 December 2024
| Unrestricted | |||
|---|---|---|---|
| funds | Total funds | Total funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Income and endowments from: | |||
| Donations and legacies | |||
| Midsomer Norton Council | 8,000 | 8,000 | 8,000 |
| 8,000 | 8,000 | 8,000 | |
| Charitable activities | |||
| Carnival traders, adverts and collections |
11,958 | 11,958 | 8,413 |
| Fund raising and surplus on run marshall |
9,557 | 9,557 | 4,303 |
| 21,515 | 21,515 | 12,716 | |
| Investments | |||
| Interest | 203 | 203 | 124 |
| 203 | 203 | 124 | |
| Total income and endowments | 29,718 | 29,718 | 20,840 |
| Expenditure on: | |||
| Charitable activities | |||
| Carnival traders, adverts and collections |
10,757 | 10,757 | 5,942 |
| Fund raising and surplus on run marshall |
13,167 | 13,167 | 8,883 |
| 23,924 | 23,924 | 14,825 | |
| Governance costs | |||
| Accountancy fees | 634 | 634 | 589 |
| 634 | 634 | 589 | |
| Total of expenditure on charitable activities |
24,558 | 24,558 | 15,414 |
| Other expenditure | |||
| Donations, gifts and awards | 4,849 | 4,849 | 4,392 |
| 4,849 | 4,849 | 4,392 | |
| Motor and travel costs | |||
| Vehicles - General costs | 72 | 72 | - |
| 72 | 72 | - | |
| General administrative costs, | |||
| including depreciation and | |||
| amortisation | |||
| Depreciation of Fixtures & | 5 | 5 | 2 |
| Fittings | |||
| Depreciation of Motor vehicles | 1 | 1 | - |
| General insurances | 1,953 | 1,953 | 1,922 |
Page 14
Midsomer Norton & District Carnival Charity Association Detailed Statement of Financial Activities
| Stationery and printing | 142 | 142 | 141 |
|---|---|---|---|
| Sundry expenses | 276 | 276 | 261 |
| 2,377 | 2,377 | 2,326 | |
| Total of expenditure of other costs | 7,298 | 7,298 | 6,718 |
| Total expenditure | 31,856 | 31,856 | 22,132 |
| Net gains on investments | - | - | - |
| Net expenditure | (2,138) | (2,138) | (1,292) |
| Net expenditure before other gains/(losses) |
(2,138) | (2,138) | (1,292) |
| Other Gains | - | - | - |
| Net movement in funds | (2,138) | (2,138) | (1,292) |
| Reconciliation of funds: | |||
| Total funds brought forward | 15,844 | 15,844 | 17,136 |
| Total funds carried forward | 13,706 | 13,706 | 15,844 |
Page 15