2022-03-31-accounts - Luton Carnival Arts Development Trust

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Reference and Administrative Details
Report ofthe Trustees	2 to	11
Report ofthe Independent Auditors	12 to	14
Statement ofFinancial Activities	15
Balance Sheet	16
Cash Flow Statement	17
Notes to the Cash Flow Statement
Notes to the Financial Statements	19 to	31

TRUSTEES			Mr A W Isles
			Mr R G Renwick
			Mr H JWalker
			Ms A E Binks
			Dr V V Cufly (resigned	29.1.22)
			Mrs L G Allen (appointed		7.4.22)
			Mr M N Walker (appointed		7.4.22)
			Dr RN YOwen (appointed		12.10.22)
			Mr R Djima (appointed	14.10.22)
REGISTERED	OFFICE		3 St Mary's Road
			Luton
			Bcdfordshirc
			LU1 3JA
REGISTERED	COMPANY	NUMBER	03525877 (England and	Wales)
REGISTERED	CHARITY	NUMBER	1107790
AUDITORS			FKCA Limited
			260 —270 Butterfield
			Great Marlings
			Luton
			Bedfordshire
			LU2 8DL
BANKERS			Bank ofScotland
			PO Box 1000
			BX2 1LB

				for the Year End	ed 31MARCH	2022
							2022	2021
				Unrestncted	Restncted	Designated	Total	Total
				funds	funds	Funds	funds	funds
			Notes	f.
INCOME AND ENDOWMENTS			FROM
Donations and legacies			3	151,294	182,260		333,554	265,518
Charitable activities
Creative Learning
				2,790			2,790	1,300
Other tradmg and	sponsorship
activities				43,963			43,963	60,115
Investment income				6			6	7
Total				198tl53	182 260		3803 13	326 940
EXPENDITURE	ON
Raising funds				3,059			3,059	1,371
Charitable activities
Luton International	Carnival
					51,258	17,246	68,504	29,199
Crcativc Learning
					72,935	10,741	83,676	19,015
Artistic Programme
				87,815	46,172	65,747	199,734	75,796
Trading Activities				66,409		18,401	84,810	220,477
Artrcach				20 tlMI	4 tl00		24 tltHI	36 Mltl
Total				177283	1743t6	112 135	4t,3,783	381858
NET
INCOME/(EXPENDITURE)				20,770	7,895	(112,135)	(83,470)	(54,918)
RECONCILIATION		OF FUNDS
Total funds brought		forward		(26,722)	58,170	4,467,164	4,498,612	4,553,530
TOTAL FUNDS FORWARD	CARRIED			~59523	66065	4355029	4 ~1.142	4498612

					2022	2021
		Unrestricted	Restricted	Designated	Total	Total
		funds	funds	Funds	funds	funds
	Notes
FIXEDASSETS
Tangible assets	14	11,451		4,355,029	4,366,480	4,485423
Investments	15	I			I	I
		11.452		4,355,029	4,366,481	4,485,224
CURRENT ASSETS
Debtors	16	38,920	41,500		80,420	77,955
Cash at bank and in hand		26 420	8 565		54985	62097
		65.340	70,065		135,405	140,052
CREDITORS
Amounts falling due within one
year	17	(82,744)	(4,000)		(86,744)	(126,664)
NET CURRENT ASSETS/(LIABILITIES)		~17,4tl47	60tl05		48161	u 388
TOTAL ASSETSLESS
CURRENT LIABILITIES		(5,952)	66,065	4,355,029	4,415,142	4,498,612
NET ASSETS		~59523	66tl65	4355 029	4 ~1.142	4498 612
FUNDS	20
Itnrestricted funds					(5,952)	(26,722)
Restricted funds					4,421 tl94	4 525,334
TOTAL FUNDS					441\ 142	4498 612

			for the Year Ended 3	1MARCH 2022
				2022	2021
			Notes	f.
Cash flows from operating activities Cash generated from operations Net cash provided by/(used in) operating		activities		~7282 7 282	~7872) ~7872)
Cash flows from investing	activities
Purchase oftangible tixed assets					(19,739)
Interest received Net cash provided by/(used	in) investing	activities			7 ~19732)
Change in cash and cash equivalents		in the
reporting period				7,288	(27,604)
Cash and cash equivalents	at the beginning		of
the reporting period			2	47 697	75,301
Cash and cash equivalents reporiing period	at the end	ofthe		~54 985	~47 697

II,OTES TO THE CASH FLOW STATEMENT for the Year Ended 31MARCH 2022	II,OTES TO THE CASH FLOW STATEMENT for the Year Ended 31MARCH 2022	II,OTES TO THE CASH FLOW STATEMENT for the Year Ended 31MARCH 2022	II,OTES TO THE CASH FLOW STATEMENT for the Year Ended 31MARCH 2022	II,OTES TO THE CASH FLOW STATEMENT for the Year Ended 31MARCH 2022	II,OTES TO THE CASH FLOW STATEMENT for the Year Ended 31MARCH 2022	II,OTES TO THE CASH FLOW STATEMENT for the Year Ended 31MARCH 2022	II,OTES TO THE CASH FLOW STATEMENT for the Year Ended 31MARCH 2022
RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
						2022	2021
Nct cxpcnditurc for thc reporting			period (as pcr thc Statcmcnt ofFinancial
Activities)						(83,470)	(54,918)
Adjustments for:
Depreciation charges						118,743	119,827
Interest received						(6)	('7)
Increase tn debtors Dccrcasc in creditors						(2,465) ~25 520)	(33,620) ~39 154
Net cash provided	by/(used in) operations					7 82	~7872)
ANALYSIS OF CASH AND CASH E(}UIVALENTS
						2022	2021
Cash tn hand						2,035	193
Notice deposits (less		than 3 months)				52,950	61,904
Ovcrdrafts tnctudcd		in bank loans and ovcrdrafts		falltng duc within onc year			~14,400)
Total cash and cash		cquiva(cuts				54985	47.697
ANALYSIS OF CHANGES IN NET FUNDS
				At	1.4.21	Cash tlow	At 31.3.22
					f
Net cash
Cash at bank and in Bank overdraft		hand		62,097 ~14400		(7,112) 14400	54,985
					47 697	7288	54,985
Total				~47 697		7 288	~54 985

DONATIONS AND LEG	ACIES
		2022	2021
Donations		28,016
Grants		~305538	~265 518
		~333554	~265 518
OTHER TRADING AND	SPONSORSHIP ACTIVITIES
		2022	2021
		f.
Bar &Catering &.Vending	Machine Income	942	167
Hue Fees		43,021	39,948
London Luton Airport			20.000
		43963	60 115
INVESTMENT INCOME
		2022	2021
Deposit account interest		6	7

	INCOME	FRO	M	CHARITAB	LE ACTIVITIES
							2027	2021
					Activity
					Crcativc Lcaming
	Workshops
							2790	1 300
	RAISING	FUNDS
	Other trading		activities
							2022	2021
	Equipment	hire						49
	Repairs and	renewals					449	723
	Staff costs						2610	599
							3059	1 371
8.	CHARITABLE ACTIVITIES				COSTS
							Support
						Direct	costs isee
						Costs f	note 9)	Totals
	Luton international			Carnival
						34,011	34,493	68,504
	Creative Learning
						28,999	54,677	83,676
	Artistic Programme
						161,235	38,499	199,734
	Trading Activities					22,376	62,434	84,810
	Artreach					24.000		24,000
						~270 621	~190103	460 724

SUPPORT COST	S
			Organisation	Office
		Overheads	Costs	Costs	Totals
Luton International	Carnival
		7,729	22,859	3,905	34,493
Creative Learning
		4,815	4'-1,664	5,198	54,677
Artistic Programme
		29,466	1,896	7,137	38,499
Trading Activities		10012 ~52 022	47,893 ~)17312	4,529 20 769	62 434 ~190103

		2022	2021
Depreciation	—owned assets	118,743	119,827
Auditor remuneration		6500	5 950

STAFF C	OSTS
									2022	2021
Wages									105,824	104,268
Social security									3,184	3,000
Pensions									1,150	2,161
Other staff	costs									561
									110158	109992
The average monthly		number	ofemployees		during	the year	was as follows:
									2022	2021
Employees									9	7
No cmployccs rcccivcd cmolumcnts				in excess off60,000.
COMPARATIVES		FOR TIIE STATEMENT OF FINANCIAL ACTIVITIES
							Unrestricted	Restricted	Designated	Total
							funds	funds	Funds	funds
							f,	E	f.
INCOME	AND ENDOWMENTS			FROM
Donations	and legacies						76,759	188,759		265,518
Charitable	activities
Creative Learning
							1,300			1,300
Other trading and sponsorship			activities				60,115			60,115
Investment	income						7			7
Total							130 IHI	IHH769		326 940
EXPENDITURE ON
Raismg funds							1,371			1,371
Charitable	activities
Luton International		Carnival
								29,199		29,199
Creative Learning
							2,855	16,160		19,015
Artistic Programme
							15,627	60,169		75,796
Trading Activities							110,472		110,005	220,477
Artreach								36 tltl0		36 tHltl
Total							130,325	141,528	110,005	381,858


13.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
			Unrestricted	Restricted	Designated	Total
			funds	funds	Funds	funds
				f
	NET INCOME/(EXPENDITURE)		7,856	47,231	(110,005)	(54,918)
	RECONCILIATION	Ol' FUNDS
	Total funds brought	forward	(34,578)	10,938	4,577,170	4,553,530
	TOTAL FUNDS CARRIED FORWARD		~26722)	.8169	~46'165	4498612
14.	TANGIBLE FIXED	ASSETS
					Fixtures
				Plant and	slid
			property f	machinery f	fittings	Totals
	COST
	At I April 2021 Disposals		5,806,762	918,943	609,343 ~74 892	7,335,048 ~74 892)
	At 31 March 2022		5806762	9)R943	534451	7260156
	DEPRECIATION
	At 1 Apri)2021		1,339,598	918,689	591,538	2,849,825
	Charge for year Eliminated on disposal		112,136	127	6,480 ~74 892	118,743 ~74 892)
	At 31March 2022		1451714	918816	523126	2R93 676
	NET BOOK VALUE
	At 31 March 2022		4 355 028	127	11325	~ 366480
	At 31March 2021		446 164	254	17 805	4485 223

MARKET VALUE
At I April 2021 and 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021

Nature ofb	usmess: Dormant
		Y
Class ofshare:		holdhng
Ordinary			100
				31.10.21	31.10.20
				f.
Aggregate	capital and reserves			1	I
DEBTORS:AMOUNTS FALLING DUE WITHIN ONE			YEAR
				2022	2021
				f.
Trade debtors				11,990	5,491
VAT				13,576	28,603
Prepayments	and accrued income			54,854	43.861
				80420	~77 955

CREDITORS: AMOIJN	TS FA	L	LING DUE WITHIN ONE YE	AR
					2022	2021
Bank loans and ovcrdiufts	(sccnote 18)					14.400
Trade creditors					10,900	34,069
Social security and other	taxes				3,121	7,651
Other creditors						2,144
Accruals and deferred mcome					72723	68,400
					86744	1ze 664
DEFERRED INCOME
				Grant Income
Deferred Income brought	forward	at I Apnl 2021			60,000
Incoming resources deferred in the			current year
Amounts released from previous		years
Dcfcrrcd Income earned	forward	at 31 March 2022			60 000

An analysis oft	he maturity ofloans is given below:
		2022	2021
Amounts falling	due withm one year on demand:
Bank overdraAs			~14400
LEASING AGREEMENTS
Minimum lease	receipts fall due as follows:
		2022	2021
Net obligations	receivable:
Within one year		8,865	14,984
Between one and five years		37 7377
		26 696	14984

MOVEMENT IN	FUNDS
				Net
				movement	At
			At 1.4.21	in funds	31.3.22
Unrestricted funds
General fund			(26,722)	20,770	(5,952)
Restricted funds
Future depreciation	charges		4,467,164	(112,135)	4,355,029
Creative Learning			3,639	(1,052)	2,587
Arts Council Funding			54,531	(955)	53,576
Luton Citizen Fund TOTAL FUNDS			~525 334 4498t)2	9 902 ~)0~240) ~8342tl)	9902 4 42) t$4 4415142
Net movement in funds, mcluded		in the above are as follows:
			Incoming	Resources	Movement
			resources	expended	in funds
Unrestricted funds
General fund			198.053	(177,283)	20,770
Restricted funds
Future depreciation	charges			(112,135)	(112,135)
Creative Learning			14,999	(16,051)	(1,052)
Arts Council Funding			152.761	(153,716)	(955)
Artreach Luton Citizen Fund			4,000 10,500 ~182260	(4,000) ~598) ~286500)	9902 ~I)4 240
TOTAL FUNDS			380313	~463 783)	83470

			Net
			movement	At
		At 1.4.20	in funds	31.3.21
			f.
Unrestricted funds
General fund		(34,578)	7,856	(26,722)
Restricted funds
Future deprectation	charges	4,577,170	(110,006)	4,467,164
Crcativc Lcarniug		10.938	(7,299)	3,639
Arts Council Funding TOTAL FUNDS		4,585 Itl8 4553530	54 531 ~62,7743 ~549383	54 531 4 525 334 4498 612

		Incoming	Resources	Movement
		resources	expended	in funds
			f,
Unrestricted funds
General fund		138,181	(130,325)	7,856
Restricted funds
Future depreciation	charges		(110,006)	(110,006)
Creative Learning			(7,299)	(7,299)
Arts Council Funding Artreach		152,759 ~36000	(98,228) ~36 Otl0	54,531
TOTAL FUNDS		~188759 ~326940	~251 533) 381 858	~62,774) ~54 918)

							Net
							movement	At
					At 1.4.20		in funds	31.3.22
							f.
Unrestricted funds
General fund						(34,578)	28.626	(5,952)
Restricted funds
Future depreciation	charges				4,577,170		(222,141)	4,355,029
Crcativc Learning						10.938	(8,351)	2,587
Arts Council Funding							53,576	53,576
Luton Citizen Fund TOTAL FUNDS					~ 4	9 902 688108 ~)670)4) 0 ~38388)		9 902 4421094 44»42
A current year 12 months		and pnor year 12 months	combined	net movement	in	funds, mcluded	in the above are as follows:
					Incoming		Resources	Movement
					resources		expended	in funds
						f
Unrestricted funds
General fund						336,234	(307,608)	28,626
Restricted funds
Future depreciation	charges						(222,141)	(222,141)
Creative Learning						14,999	(23,350)	(8,351)
Arts Council Funding						305,520	(251,944)	53,576
Artreach Luton Citizen Fund						40,000 10500 371 019	(40,000) ~598) ~538033)	9,902 ~167014)
TOTAL FUNDS						707.253	~845 641)	~138388)