REGISTERED COMPANY NUMBER: 03525877 (England and Wales)
REGISTERED CHARITY NUMBER: 1107790
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FOR
LUTON CARNIVAL ARTS DEVELOPMENT TRUST
FKC.A Lirnited
Stalulory Auditor
260 - 270 Butlerfjeld
GrLdt Marling
Lulon
Bedfordshire
LU2 8DL

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
CONTENTS OF THE FINANCIAL STATEMENTS
for th¢ Vcur End¢d 31 MARCH 2024
Page
Reference and Admlnlstratlve Detalls
Report of the Trustees
2 to lu
Report of the Independent.4udltors
Statement ot. Flnanclal Aclli'ltles
15
Balanee Sheet
16
Cash Flow Statement
17
Lyoles to the Cash Flow, Statemenl
Notes to the Fln&nelal Statement$
19 to 29

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
REFERELNCE AND ADMINISTIL4TIVE DETAILS
for the Ye#r Ended 31 MARCH 2024
TRUSTEES
Mr A W Isles
Mr R G Reiiwick
Ms A E Binks
Mr% L G.Allcn
Mr M N Walker (resigned 17.9.24)
DrRNYOwen
Mr R Rudie
REGISTERED OFFICE
3 St Mary s Road
Luton
Bedford¥liire
LUI IJA
REGISTERED COMPAIYY
NUMBER
035?5877 (EnbTland Aiid WAlcs)
REGISTERED CHARITY
NUMBER
1107790
AUDITORS
FKCA Limited
Sialutory Audiior
260 270 Bullerfield
Great M￿.11]IgS
Luton
Bedfordshire
LU2 RDL
BANKERS
Bank ofscotland
PO Box IUOO
BX2 ILB
Page I

LUTON CARNIVAL ARTS DEVELOPMENT TRUST (REGISTERED NUMBER: 03525877)
REPORT OF THE TRUSTEES
for the Ye#r Ended 31 MARCH 2024
The Irustees who are also directors of the cliarity for th¢ purtK)5es of the Compaiiies Act £006, present their report with the financial
slalemenls of the charit), for the year ended 31 March 2024. The trustees have adopted ihe provisions of Accounling and Reporting by
C,harilie%.' StutcmLnl ot Recoinm¢ndLd PrdLtiLL appliLdblL to Lharitie% prLparing theii- dccuunt% in aLLordanLe Wlth tlie FinanLidl
Reporting Standard applicable in the UK and Republic ofTreland (FRS 1021 (effective l Jaiiuary 2019).
The trustees are ple85ied to presient their annual Trustees. report logyether with the tinancial Sitatements ot. the charity for the year
eliding I l March 2024 wbich aty also prepared 10 ineel ihe requirements for a directors, report and accounts for Companies Acl
purposes. Thiq rLpon has bccn preparcd in acLordancc with Ihc provisions of Part 15 of thc Companics ALI 2006 rclating lo small
companies.
OBJECTIVE5 AND ACTIVITIES
Objectives. vision and aims
Thc charilablc objeLtivcs ot" Lulon Cariiival Arts Dcvclopincnt TrLisI (also known as thc UK C'cntre l.or C".arnival Arts - UKC'CA), as
set out in its Tnemorandurn and articles ot. association, are to advance, promote, encourage and develop public education, appreciatio
of and participation in carnival arts and the crafts and traditions which s¢rv¢ carnival arts.The Trust has essentially b¢¢n established to
rai%e the %tulus ot carniial iJrt4 to u level enjoyed by oilier urt tonns to improve the vi%ibiliiy. education, undeTrildnding ot the Cdrnival
arts> parLiLularly for future gFenerations.
The Vision for the UK Cenlre foi. Carniial Arts
Our Vision is lo see carnival iiniversally recognised as a leading genre of artistic excellence and inclusive cultural expression.
The.M15sfion of the UK Cenfre for Carnlval Arts
Our Mission li 10 aLhiei'e our Vision by..
CliampioninL higTrh qual ity arl that is ainbitious. chal leiigiingy and iiinovative
Connecling, inspiriiig and blrengihening Ihe Carnival ar15 sector across the UK
Uniting, supporting, developing und 8u8ldinill¥ the Luliural and llrtisli¢ infrd%truLture of Luton
Aims of the UK Centre for Carnival Art5
To build a more inclusive Carnival arts sector and to position UK Carnival arts as leadin&J the world in quality and inclusivity,.
To support the eleinenl of risk and innovation in making exLellenl arl and celebrating ainbilion and Ihe creative process, as well as
the tiiii%hvd prudiiLt;
To celebraie, proinoie and sustain traditional Carnival arts skills and the diverse heritage of Carnival traditions across the UK;
To einbed a culture of philanthropy, fundraising and sustainability in the organisation and to share this learning to strengthen with
tlie M'ider sector;
Through developing slralegiL parlnerships across Ihe Carnival sector and between Carnival and oilier cultural sectors, strengthen
dnd up-%kill Curnivdl arl% in thL L K- (Ind
To engage and excite diverse audiences and parlicipanis.
Kev Funders
Th¢ UKCCA is indebted lo its funders and sponsors. who together provide significant and highly valued support for the
organi.%alion'% aLtivitiL.%. ThL ArL%' Council ot En¥land providL% funcling tu 4upport IhL Tiii%t's arti.%tAL uinbilion% and dLvLlopniLnt
prograrnines for public benefit. Additional funders and sponsors during tl)e year include Luton Borough Council, LutOi1 Rising
(forn)erly known as Lulon Airport) and Bedfordshire and LulDn Community Fund (Stability Fund. Comniunily Inveslmeiil Fund and
Lulon's c.ilizeii Fund) and Royal Opera House Bridgye Fund.
Lutun Burough CoiinLiI, Ea%1 uf En¥land DLvLlopinLnt AgLllLy, EurvpLan Rcgionul DLvLlupmLnt Fund, and thc Art4 CounLiI uf
England have previously provided a total o1.£7.2m for the building ot- the tirsl UK C.entre lor Camival Arls.
Page 2

LUTON CARNIVAL ARTS DEVELOPMENT TRUST (REGISTERED NUMBER: 03525877)
REPORT OF THE TRUSTEES
for the Ye#r Ended 31 MARCH 2024
OBJECTIVES AND ACTIVITIES
Public beiiefit
de%Lribed dbovL, the objcLtivc% of thu UKCCA to udvanLe, prornutL, encourage und dLvclop publiL LduLution, opprcLiulion of
and parlicipatioii iii carnival arts and tlie crafts and traditions whicli serne carnival art5.
By takingr a community art form and givingy it a wider, regrional, national and international audience, the Trust's ambition is to
increase opporliinilies and raise the sialiis of communily-based Carnival groiips in Lulon and more broadly across th UK.
In shaping our objectives tor the ye4r and planning our activities, the trustee5 have considered the c.harity Comniission's guidance on
publie benefit including ihe guidance on public benefit fee charging. In selling the lei'el of lees and Lharges lor its activities and
evenr.% the trust gyives curetul consideration lo acce%Nibility for tho%e on low income. Where possible the Tru.4t eii%ure% tliose oli low
income are iiol charged for access lo aclivilies.
Page 3

LUTON CARNIVAL ARTS DEVELOPMENT TRUST (REGISTERED NUMBER: 03525877)
REPORT OF THE TRUSTEES
for the Ye#r Ended 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Overvieiv
During -
?023124 UKCC.Q Lontinued delivery Arts CounLil of England (ACE) Nutio￿l Portfolio Orgunisutiun {NPO I } having
secured 3-year5 of fundiiig under Ihi5 desigllalion {2023-20?6) aiid were advised of a furiher l year extension to 2027. UKCCA
delivered an extensive Larnival artb programme in Luton and across the UK.
Luton Carnlval 21123 and Plannlng for Luton Carnli'al 2024
PrLparalions tor Lulon Intcrnational Carnival 2023 beo&n in thL prcvious Iin&ncial yLar. WorkiIig in partncrship with Luton Boiough
Council and in support ot iheir regeneration strategy, Luton c.arnival continues to lake place Lulon Town cenlre. Tlie eveni was
ucLessfully dtlivered with strong audience numberb exceeding 8000. deinonslrating the ei'ent Lonlinues to recover following the
COVID pundemic. PlaiininiT for Luloii Cariiival 2024 begran in October 2Q23 lead by the Executive Producer, u role implemented lo
ensure Ihe eveiii was delivered ¢conon)ically aiid professioi)ally. Working wilh UKCCA'S Executive Director sponsorship resources
wcrL SCLufLd for Lulon Carnival 2024, on a schcdulcd pdymeiil progranimL, somL of whicli wcrc paid in the ?3124 finanLLal ycar to
supporl preparations tor Liiton Camival 2024.
NAtif¥nal C.hildren's Carnival Week
UKCCA LonliiiuL.d IL'adingF Ihi. dL.livL'ry of this now established national partnership prograinme which fornis part of Ihe Arts Counci I
NPO proortsmtne. National partners or4tsnisalions worked with local SLhools delivering a Ldmival urls prograniine whiLh Culminated
iii mini caniival parades in schools. Wiih Ihe SUPPOTI ot resources secured trom tl)e Steel Trust we were able lo expand the scope ot
what we delivered in Lulon. Thig ensured schools did noi struggle io seciire the resourc.es required to engage in the initiative. Both rhe
locdl and ndtiondl projeci element% were %ucce4.%tul, and the pdrtnersliip comimiiteLI lo deliver Ndiiofidl Children'% Carn ivdl Week aè
an annual prograinme. Due 10 rlie success of the programine. discussions also began on wheiher tliis could be a siandalone ini(iaiive.
Di$¢overing and Nurturing New Talent
UKC-C,A ci)nlinued lo support new arlislb ivhich includes menioring and training. With resources secured from the Foyle Foundation
pilot, fornidl arti%t developiMent prugraniine wa4 IdunLhed. The pro¥rdiMme alin% lu 4upport Ilie arti%14 lo becorne bu¢¢e%¥ful working
arlisis, by proi'iding both ¥r¢aliv¢, busiii¢ss adininislralioii aiid business developmeiil skills. Tl)¢ arts elemeii15 were led by the one of
UKLLA'S ArtislS-in-ResidenLe, Ral￿pU¥e Mas Lland. The biisiness developnienl Jnd Adniinistration training will be delivered by
Lulon Camival Executive Producer who is also rhe tonner CEO of Notiingi Hill Carnival, in the second year of the pro(iraniime ivhich
will be delivered in the ?4125 finaiicial year. Tlie arlisls who participaie will display the cosluimes produced during Ilie programine al
Lulun Carnival 2024 and thi.% will be fullowed by u ioiir of the LJslume¥ lo key LdrniV<il.4 aLro%.s the UK.
Work Experience Placements
The orbFani5atioii continued to deliver work experience placem¢n15 ￿'Orkin￿T in partnership M'iih schools, collegFes and other
educaiional eslablishnienls in Lulon. The work experience opporlunilies were aligned iviih the delivery of key aspects of the Luion
Carnivul und uthL'r LoniiilLilliiy CVLnt LIL'vLlupnicnl LYL'ILS to Ln4uri thL sludLnt% Lould rLporl on CV% dnd oilii'r kL'y LmployinLnt toul
thai their work had feaiiired in live arts and culiure events. These pla¢einents also included opporlunilies for disadvantaged young
people, Slich a5 new retugees, where the arts helped them to settle in the UK. There was also a tOiUS on young people with special
educational needs demonslralingy the inclusive iiature of the carnival art5.
Master Classes #nd Communlty Workshops
Communily workshop5 and mastercla5ses were delivered iii the building and at otl)er organisalion in Lulon. Workshop and costume
making autivilies were plaiined and delivered lo support the build_up to both Luton Carnival 2024. These maslerclasses were
delivered by the UKCCA'S two Artist.s-in-Residence, Sieve Hoyte ot" Rampagye Carnival Band, who was also appointed as both the
Liilon Qamival 2021 #nd 2024 lead ArtLsI, and by me.lissa Siinon-Hartrnan, a renowned carnival eosiiiine. designer who specialises in
Li4ing grcLn and %u%tainablc tLchnique%. ShL 1% also dn CAamplc ot" thL Iran%terabilily uf Lainival dcsign .%kills 4he 14 al40 a fa%liiun
designer who has designed tor a range ot. celebrities, including the global superslar, Beyonue.
Conimiinit). PrDgrAmmes and Events
Iii-IIoL15C Colllllluiiity piograiniiic5 werc i'ciiili'oduccd to siipporl orgaiiisali0175 to parlicipal¢ iii Liiton Caniival. UKCCA coiitiiiiicd lo
parti)cr willi a range of eominLinity organisations whiLh rcsultLd in UKCC.A cngaging in a rangL of eonimunity cvcnls, partnLrships
participating in Eid, Diwali, EaslFesl. Luton YouthFesl. Children's Sumnier and Christnias c.arnival Clubs Black History Month.
Luion Pride and St PalriLk's Day Parade.
Page 4

LUTON CARNIVAL ARTS DEVELOPMENT TRUST (REGISTERED NUMBER: 03525877)
REPORT OF THE TRUSTEES
for the Ye#r Ended 31 MARCH 2024
Support for the Carnival Sector nationally and in Luton
UKCCA continued ils alliances with the wider carnival sector. This was principally done via the National Cliildren's Carnival Week
progrdmine. Thi% w&5 LxpandLd by the estdblisliment uf un Advigory Gruup lo over%cc thc Art% Admini%tration projeL1 fundcd by the
Arts Council NPO upli ft. It is the iniention for the arts administi-ation findings lo be shaT¢d acros5 the carnival sector as robust arts
dminislralion skills are key to the Lonlinued stability and growth of the carnival arts sector. We also Lonlinued lo support the
community oriyanisations who are part of Luton Associatioii of Mas (LAMJ with their etyorts to be part of Luton Cariiival, focusing
on providing expert help wilh the costume making acliviiies. Tl)is suppori was also extended lo seciire funding support fron) a lead
sponsor for somL of Ilic mcmbcrs who arc rcgistcrcd Lharilics. DisLiJssions are undcrway lo scc liow Ihis sponsorship SLlPPOrt L'&n bc
extended to CIC. and C.10 organisations. Support work continues to extend beyond LAM and SUPPDrt was provided to organisation5
like Pride in Luton, Igbo Cominunity Association of Luton and a range of Eastern European Co1￿MunitY groups as we assisted with
their preparations la be part ot Lutoll Carnival 2024.
Fundraising
The fundraising is viewed as a signiticant activily as it assists Ilie organisation to achieve increased linancial stability.
Tlie fiinilraising 1% led by d consiiltancy tirin, Counterculture. The progTramnie ot.work is over%een bv a Coiintercultiire partner und the
opLraliunal delivery 18 by an expL'riLnced AssocidlL. The AsSOLlatL. has extensive experience of boil) raisingy capital and rei'enue
resourLes froin a wide range of funding sources.. publiL funds, Irusts, spoiigorship, elL. The Associ¥Ate is also part of the senior
l¢adership teain of'a very su¢¢¢sstul cultural Inusic orgvanisat1011 111 the Northwest ot. EngTrland,
The fundrai4ei' iti not boiiiid by a re¥Lilatory scheme. The tundrai4er Ineels iveekly with the Execuiive Director who lea(Ls the
moniloriiig and oversighi of all fundraising aciiviiiei+. The ensures Ihe works is delivered efficienilv and cosi-effeciively. A progress
report is pi'ovided lo tl)¢ UKCC.4 Bojrd with a foLUS on successful bids bids to be develop¢d. The Board also approv¢s all
fundingy aSSiLiiied io the fuiidraisingy activities and also approved an exleiisioii of the contract based oli the successful tundraising,
programme being delivered. No coinplainls have been received.
FINANCIAL REVIEW
Fiii&iieial Revie
In 2023124, was the tirsl year ot. UKCCA'S del ivery of the An8 Council NPO Iroin 2023-2026. We were also notified that Ihis period
would be exleilded lo March 2027
Unrestricted reserves al the year-end were in surplus of £48.6.31 (2023.. in surplus £46,743) and cash reserves of £94,450 (2023..
£77,690). Restricted tunds al the year-end were L4,171,812 12023: £4,287,147) which is split by restricted fund of L41,054 {?023,.
£44,ry54) and desig?nated funds ot'£4,130,758 (2023.. £4,292,893).
Suprx)rt Lu%1% wL'rL dlloLdlLd by .%quarL' InLtrL, nunibLf L)t" Ntuft" ILquiN'dlLnt bodi&%) dnd tiinL USd¥L of thL LLntrL'. A t(Jtal ot £125,706
(2023.. £101,6S9) suppon costs were allocated to charitable and trading acliviiies.
Incoming Resources Resource5 Expended
Incomin&J resources from all sources includinby bank inlerebl and sundry income was £433.57612023.' £469.348). Resources expended
durinu thL yLar totallLd L547,022 (2023.. £450,600).
AII 2023 comparatives are as per the restated figures.
PrliielpAI fundlng soiiree%
The fLind% fur Liiton Cdrnival 2023 4CLLifLd durin¥ tlie 22123 tindllLidl ycaT, During IhL 2fj123 findnLial year Lutun Ri%ing
committed lo provide £IOO,000 lo suppori the delivery ot. Luton Carnival 2023. UKCC.A secured the tirsl year Arts Council NPO
funding which iiicluded an uplift lo deliver a programme that gupporls the development of arts adrninistralion personnel; Key learning
and participatic)n work was supported Iiy £36,200 %ecured troin the BLCF Community Inve%lmenl Fund aiid al Ilie elld ot" the ?3124
ycar BLCF also coiifiiiiicd UKCCA would bc givcii a .3 ycar fiiiidiiig pi-ogi'aiiuiic foT tlic Icaii)iiig alid parlicipalioii actiThilics,
cxtcllding SLlPPOrt lo thL March 2027. UKCC'A alsck sccurLd £25,000 from thL SILLI Trust to support work Lomplcmcnldry to thL
National Children's Camival Week programme - with a tocus on Luton. the Foyle Foundation provided £20000 tor the pilot artist
developl￿ent programme, supporting artl5ts to enhance their arts skills and learn key bu5illebS deliveiy skills to support them to be
%ucce%st"ul workingr artist%. Re%ources %ecured in the previous findnciul sear% were dl%0 rolled torward to ,%upport our &¢livitie%.
Page 5

LUTON CARNIVAL ARTS DEVELOPMENT TRUST (REGISTERED NUMBER: 03525877)
REPORT OF THE TRUSTEES
for the Ye#r Ended 31 MARCH 2024
FINANCIAL REVIEW
InNestment policy
Asido from reldining u prudLnt amount in resLfvL% Lach year, mo.st ot ihe Lharity'% flind% wcrc %pent un ihe delivery uf the dCtivitlLS
outlined in tlie bids Inade ￿ funders. As a result, there were few funds for long-terni iiivestinent. Graiils received in advance are
depoblted in a high interest account to maximise return on those funds.
Reserves polley
ThL Managcnicnl CotnfftittLC has Lxamincd Ihc Lharity's reL]uircmLnts and Iccls il would bL prudLnt to kccp thc minimum ILvcl of Ihc
general reserves at the equivalent ot. Ihree months operating cosls to prolecl Ihe trust against delays in receiving grants and the
possible reduction in income strwains. Reserves are currently not at the desired level and Ilie staff, supported by the trustees are
working hard in order to rebuild the level of re.serves.
By thc timL a ioinmunily projcet IS LoinpILILd its rLstriLILd rescrvcs sliould bc nil. All projcct LxpcnditurL is budgctcd tor thL whole
ot. tlie project and then by tinancial year and any income received in advance is brought torward in reserye5 to cover tiiture vear's
expenditure.
The levels of reserves will be recalculated and reviewed by tl)e t1￿$tee8 annually.
Building back reserves
UKLC:A has plans ro rebuild reserveg over a 3-5-year period. We retain tlie support of our key stakeholder Ans Council England,
wl)ieh continue% to support UKCCA throiigh Naiiondl Porttolio Funding of £152.760 unniidlly. Tlie 4ttJff iedm been con%olidated
10 assisi wilh Ihe coniiAued recovery and siabilisaiion of Ihe charity. Tlie organisaiion coniinued 10 be supporied by an exieriial
fundraiser aiid hag I'evis¢d the rol¢ of an on-staff cunsultuiit to Als() support the fundraising activitieb whiLI) al'e key lo business
recovery. The orgianisation is still deliv¢ringr a ¢osl savingys progvrainme and ex¢rcisiii&) exlreine finaiicial pNde11ce as part ot tlie
conliniious improvement process. The organisalion also received confimialion Ihai it would continue 10 be parl of the Arts Council of
En¥land Nutivnal Pvrtlulio and would reLeive fundin¥ for 2023-2n26.
Fundraising activity generated the t"ollowing additional income in the 21124 tinjncial year.. Lut4)n City Council/Luton Rising- £80,000
(restricted lo Luion Cariiival 2024 bul coi'erinbi some expenditure in the 23124 tli)ancial year). Royal Opera House Brid&ye £S.000,
and Bedfordshire and Lulon Cominunily Foundation {BLCF) C'.ominunily Investment Fund £36.500. BLCF also confiriMed Ihal
UKCCA had been .%ULLg.%%fLII in bidding lo their Cuinmunily Inve%tnieiit FLind 3-year prugramme and fund% were .4eLured to NlarLh
2027. Funds secured al tlie end of Ilie 2212.1 finai)cial year were released for use in the 2.3124 year.. Steel TNsi £25,000 and Foyle
Foundation £20,000. SkX)nsorship and trading incoine was olso secured to siipport the delivery of Lulon Carnival 2023 and 2024. The
orgyanisation continued to deliver cornmi5sion¢d activilies around Luton and the re51 ot, the UK lo help siipport the tinancial stability
and ￿SerVe building proLess.
UKCCA target for reserves remains at the equivaleni 10 three months operaiional costs ￿]d in the period noted above we expect to
achieve this level of reserves.
Page 6

LUTON CARNIVAL ARTS DEVELOPMENT TRUST (REGISTERED NUMBER: 03525877)
REPORT OF THE TRUSTEES
for the Ye#r Ended 31 MARCH 2024
FUTURE PLANS
The 23124 financial year was a period ol" contiiiued consolidation for the operational team led by the Executive Director. The
organisatioti is now delivering in a business-as-usual fashion and as a consequence I1)e board lo retumed io solely slralegic activity.
UKCCA will maintain and develop our ¢51ablished and productive partnerships with Luton Borough Council, Luton Rising,
EMCCAN, CAMF, St Paul's Carnival, the New Camival Company, Global Grooves, Rk)mpage Mas CIC, Melissa Simon-Harlman,
Alif New Bekyinninbys, Bridgrewater Caniival, Nonvich City Couiicil, Norihamploii Caniival, Pride in Luton, ACE, University ot
Bedfordshire. Liiton Music Service, Lulon c.ulture Trnst, Revolution Arts. Luton BID, HLF, NHS and numerous schools and
Lollcgcs. Wc will Lonliniic lo dcvclop artistlL Lontcnt, educational potcntial, prLsLrvaliL)n and bhdring of CarIiival Irddilions and
inconie generation from our key prograinme areas. Parlnership activities being delivered demonstraling the join-up across
cominunities and the cultural protJrammes of the various cominunities Include the St Patrick's Day Parade, Diwali and Black History
MonTh and others are beiiigl delivered. Tlii% 14 %howingv the uddptability dnd inclu.%ivity of the cariiiv41 ariforin.
Values-led Programming
A valu¢s-based approa¢h fo planning has been ¢mbedd¢d in the organisation sinc¢ late 201.1114. which underpins our values of
inlegryily, ainhition dnd inspirdtion, Inclusi￿ltY dnd creAlive excellence. Our vulues are sliuping7 Ilie ch¥irity'% tlltiire, lea<ling Ll% lo locij
ai)d dLvelop work only whL're there are clear synersiies between our values and those of slakeholdL'rs. This ig resulling in Slrong
Lollaboralions and ali expansion of our arts progrnintne to embraLe a Miide range of cominunities.
Luton Internatlonal Carnlval
The Cdrnivdl hd% becon)e Ilie central plank ol. the or¥dni%ation'ti Artistic Programine, based around Lulon'% Imoi'e thun 40-yedr
Iradiiion of Luton Iniernaiional Carnival, with which UK Cenire for Carnival Aris has been deeply involved since ihe incepiion of our
orgaiiisation. As sole producers of Ilie event since autuii)n 2013, w¢ have secured significaiit repeal Loipoi'aie sponsoi3liip and
uiiresii'ici¢d local au(hoTiiy donations for the coining year, plus other reglular tradingv income Ironi Lulon Internatioiial Cari)ival. This
annual, landmark family-friendly event, which kicks off Ihe summer carnival season in the UK, will continue lo be the plaiform for
new iirt develuped in uur purpose-built Larnivul space4 at the Lentre, via arti%t re4idenLie%, m¢￿ter Cl￿￿￿e5, ma% Lampi work%l)OP* dnd
youiig people's pi'ogrammes working closely with schools and local cosluin¢ inaking groups (Ineinb¢rs of LAM). This will also be the
aveniie tl) engage expert artists troni across the UK, continuing the tradition ot supporting Larnival arts development by providing
continuous professioiial developineni, We will also inlersecl the outreach work. we are deliveringy usingy the Camival event as the
public showcase for WOTk done in schools and community groups.
Ar¢s Projects
Arts projects have been funded on a project-by-projecl basis. The Trust's core tinancial rebources continued lo be via the Arts Council
NPO fundinb, for 2023-2026 whicli supports oui- future financial viability. Buildi11<7 on the successtul Trust Fund bid outcomes in
previous years, the Trusl will continue lo submit bids lo a ￿lide variety of Irusls, foundations and slaiulory funders for national,
rLgiondl dnd IOLUI urrs uLtivitiL'% bu%Ld dl thL CLnlrL' it%Llf d5 WLII u% outrLdLh WL)rk, Ln.bui'ing uudiLlluL dL'vLlupmLnt dnd urtist
developmeiil is always enibedded in our arts projects. Th&8e projects are full cost recovery niodelled. Ihey ensure parti)ership
investment and are SLipported by expandiiig the contracts of existing staff. The 23124 year saw us Lonlinue to grow the arts
progFTamnie. Our comniilmenl to the delii'ery ot hig,h-quality carnival arts usinsT a local, regiional and iiatioiial partnersliip model
continues.
We also grew, the iiumber of com1nercial commissions in 23124, an avenue which will conlinue to be further explored and
consolidated to further assist our tinancial stability.
Sldlls And Profe.sslonal Development
A% d rLgi%icrLd Arl% Mark Ccntri UKCCA will Lontinuc to dclivcr dcvclopmLnl, LT]Lntoring &nd work plaLcmenl oppurtunitiL.% t.ur
local residents, teachers, school children and artists. The trust recognises the imporlance ot supporting the next generation to deliver
carnival arts eKpertly and professionally. This will be a key part of the Trust's delivery programine. The Royal Opera House Bridge
project fundingy waty u%ed lo deliver a trainiiigF jinproveinenl progyramine that helped to lurther retine aiid iinprove our continuou4
pi'ofcssioiial devclopiiiciit Iraiiiing aiid iiiciiloi'iiig offcT aiid was u5cd to Support tlie cJigag¢iiicLII of a iicw arlist wlio iji ilic capacity of
Support Artists assistcd Ihc dLIivLry of ilie Luton C'arnival costumc dcvclopinent aLtivilics.
Page 7

LUTON CARNIVAL ARTS DEVELOPMENT TRUST (REGISTERED NUMBER: 03525877)
REPORT OF THE TRUSTEES
for the Ye#r Ended 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organisaliDn is a charitable company liiniled by guarantee. incorporated on 12th March 1998 and registered as a cbarily on 25th
?005. The Lompany wu% estubli%hed under d MLmoranduin of A%,SULlUtion which L4tablishud the objeLt% und poivcr% of the
charitable cornpany and is goN'erned uiider its Articles of Association. In the evenl of tlie coinpany beiiig wound up members are
required to contribute an amount not exceeding £ l O.OU.
Reerultmenl *nd appolntment of new trustees
Tlic maI)agcmunl of thc Lharity is thc rcsponsibility of Ihc TrustLcs who arL clcctcd and eo-optcd undcr thc Icrms of Ihc ArtiLILs of
Association.
All Tru%tee4 Qt" the compaiiy are al40 director% of the charity and there are no nther direclors. Tru%lee.4 at the date ot. thi.4 report are
listed on Ihe opening page. There are CU￿¢￿IlY five Tnislees. On appoinimeni each Truslee Signs a code of condiivl and completes a
rLgisicr ot" inlLrLsts. ThL lattLr is IcnLwed aJinLially. TruslLes are givcn a LOPY of frubtces, Haiidbook on appointnicnl that inLludcs Ihc
M&A ot association, policies and procediires. Ai Ihe anni￿1 general Ineeting one third ot Ihe director5 sliall retire from oflice bul are
eligible for re-election. The Trustees are elected by the members al the annual general meeting.
Chalr
The Board continues to be chaired by Anthony Isleg. H¢ hds extensiv¢ ¢xperienL¢ and knowledge of the LArnival arts seLlor aiid in
particular has a loiigv association with UKCCA. His kiiowledgye aiid exp¢rlis¢ ¢nsur¢s on-gioingp busin¢ss stability and coiililluily.
InduLtlon and trolnlng of n¥M' Trustees
Under Ihe supervision of ihe Chair and Execuiive Director Iwo new T1￿[eeS were appoinied io ihe Board and began iheir iernis in ihe
23124 finan¥ial year. The new Trustees were piDI'ided with indvLtioii ti?ining packs on appoinlineni. Trusiees are expeLled to
fainiliarise themselves with the Busiiiess Plan of the Trust, the Stal'l. HandLiook and artistic aims aiid objectives. The iiew Trusle¢s
liave expertise in the commercial business delivery aiid one also is an esiablished carnival artisi, who represents the youth voice. Bolh
eleinent5' are key to supporting the Luntinued growili, legacy and relevance of the urganisalion.
Org&nisAtional strueture
The sti'ate&yic managienieiil ot the charity is the responsibility of tlie Trustees. The Executive Director is respoiisible ror operalioiial
planning, developimenl and delivery of the services and slralegies of LCADT wiihin clear policies and prolocols sel by Ihe Trustees.
Tlie ExeLutiv¥ Directvr .%it% on the Budrdiillanagemenl Lumimillge bul ha4 nu ioting ri￿lit4. The Executive DireLtor lead% the
day-lo-day operational nianaEeinenl of the DfE<inisation.
The Board lias three sub-committee5'. Fillance; Fundraisinb, & Sponwrship.. and Artistic, Creative LeamillgT and Nlarketing. The
sub-cominitlees meet on a quarterly basis and do not have the authority lo ratify proposals bul make recommendations 10 the Board of
TruslLL%, IvhiLIi dlso mLLls un a quanLrly bdSlN. Sub-Lomn)iltLL n)LLting% arc L'ui'rLntly subsuinLd inio IhL budrd rniLting wilh IhL
excepiion of the Fiiiance Sub-comniittee. The Finaiice Sub-committe¢ Ineets quarterly 10 support the close Inonitoring and scniiiny
of th= Trust's fitiancial affairs. Decisions made al the Fin4)nce Sub-C.ommillee are ratified by the tollowing full Board of Trustees
meeting.
Our.ItruLILifL providcs for onL hLdd of dlpdrtimcnt lo rLpurt to IhL ExcLutiVL DirLLtur, thL FinJnLL ManagLr who 1% rL"%pon%iblL for IhL
Trust's Accounting and Financial management Sy51enis as well as IT, HR and Faci lities Managernelll. Tl)e Associate Artislic Director
role was lemporai'ily paused following the resignalioi) due to personal reasons of the individual who delivered the role. The Learning
and Parlicipalion Managyer role was expanded to oversee the extensive community progFrainme and project5 delivered by the
orgat)isalioii.
Page 8

LUTON CARNIVAL ARTS DEVELOPMENT TRUST (REGISTERED NUMBER: 03525877)
REPORT OF THE TRUSTEES
for the Ye#r Ended 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Consolidatlon
The tsrguni4utiun conlinuLd lo restabilisL t"ollowing the COVID pandcinic und ha% Lontinued tu expand il% pn)grammL uf LDminunity
and coinrnercial carnival arts delivery. Wot*]n￿ in partnership with organisatioiis in Luton and from across tlie UK. The expansion of
delivery hk)s been ex
We also coniiniied our parmerships with organisatioi)s across Liilon and we were able lo deliver in persoi) events based euliiiral
cvcnis rclLvanl to LuloI), inLluding EID, Diwali, Black Historv Month, Chrislm&q, ChincsL New YL&f, Sl PatriLk's Day and Eastcr.
We delivered a third year of the Njlional Children's Carnival Week programme, delivered with partners from aeross Ilje UK was
delivered very succe%s1'ully culniin<ilingi in u %eries Ot" national celebration% friim Ioih-28th July 2023. This were delivered very
successfiilly. Tlie schools, engageineni process continues io reignite inleresi in Ihe can]ival genre, leeding inio Larnival developineni
aLlivitics many of whicli WLrc aib.ts uscd for Lulon C"arnival 2023. Naiional parlnLrs and scliool also eominitlcd to a fourth year of
National Children's c.arnival Week and to Ihe event becoming an annual prograinme and possibly a standalone independenl projecl
aligned to the work of LKCCA and other ¢arnii'al organisalions.
Rlsk management
The irustees have n duty to identify and review the risks lo w,hiLh the charity is exposed and to ensure appropriate Lontrols are in
place to provide reasonabl¢ assurance agyainsl fraud and error.
Tlie 8eri011s de4ign dnd con?itruclion i4¥iie% uffectin¥ the roof. of the nidin auditorium and 4ub%equenl ¢lo%ure of the muin auditorium
on Isi Ociober 2019 required ilie Board 10 rel'iew the curreni risks of ihe organisaiion. The Inain risk ideniified was Ihe reduciion of
inlonie froln the Iiire of the spai¢ and Ihe costs itquir¢d lo r¢inedy tli¢ problems With the root. Failure 10 address these risks would
place the orgvanisatioii iii a ditticuli position with reb*ards ils Iinancial slabi lily.
Tlie Bo¢ird pul in pla¢e Li number ut" btrale¥ie4 lo miligute tlii5 risk during 2018119 and hll% Loiilinued to pur%ue these strdte¥ie5 the
following fiiiaiicial p¢riods. This includes ceasing all lai'ge-scale events iii Ilie venue. a reslivcluriiig of Ilie staff to reduce cosls and lo
refocus available sk'ills, The Board L)f Trusieeb has endL)rsed the subiKibsion ot" a t"unding bid to the Heritage Lollery whiLh will
iiiclude Ihe delivery ot. botl) a business and biiildiii&v teasibilily study whicli will critically ai)alyse and provide options for addressing,
the current riqk presenled by the failed main audiloriuin roof, and also hoiv Ihe organisalion can continue lo grow ils reNenue
progranimg Lon%oliddling the eLonvniiL fiilLire uf th¢ urgani%aliun. FollL)winy approval lu Inuve lo bid 4ubnii%%iun phase, the Hvritage
Loiiery bid will be subiniiied in Ihe 24125 finaiicial year. Fuiidi'aising work lo secure the additional resources is being delivered by a
fundraising consLiliant.
COIYTILYUED RECOVERY FROM COVID-19
TIIL. org<ini%dtion LuntinuLd to rL'stabili%L fullowing ihL COVID PdndLiniL dnd ablL' i() dLlivLr il% IL'dd LvLni, Lutun Cdrnivul,
outdoors as Luion Town's lead celebration of the Queen Elizabeth Il's Plaiinum Jubilee. The eveni was delii'ered successfully with a
partnership of key agencies and supported by the Trust's key funders aiid spoiisors.
We also coniinued our parinerships with or8anisalions across Llilon and we were able lo deliver in person events bab¢d Cultural
CVLnt4 rclLvant to Lutun, including EID, Diwali, BluLk Hi%torv Month, Chri4lm&K, ChinL%L NLW YLdr, Si PatriLk'% Day und Ed%tLr.
We delivered a second year of the Nalionil Children's Carnival Week programme, delivered with partners from acrobs the U K was
delivered ver). successfully culrninaliiigi in a serieb of nalioiial celebrations from 7th-19th July 2022. Tliis were delivered very
successfiilly. Tlie scl)oolg' e.ngagement proe.ess Algo reigniied inlere.gl in Ilie Ci?rnival oenre, fee.ding into earniv411 deve.lop)menl
dclivitic% tlldnv of whiLh werc used fur Lulun Cdrnival 2022. Nafional pdrtnLrs %Lhool dl%0 LornFnittcd to d third year ol- Ndlional
Children's Carnival Week and to the event becoming an annual prograThme.
Page 9

LUTON CARNIVAL ARTS DEVELOPMENT TRUST (REGISTERED NUMBER: 03525877)
REPORT OF THE TRUSTEES
for the Ye#r Ended 31 MARCH 2024
TRUSTEES. RESPOIN SIBILITY STATEMENr
The trustees (Th,ho are also the directors of Lutoii CarniN'al Arls Developinent Trust for the purposes of compaiiy law) are respoiisible
for preparing the Report of the Trusiees and Ilie fjnancial statements in accordance iviih applicable law and United Kingdom
ALLounting Standards (UnilLd Kingdom GLnL'fdlly AcLcplLd £lLLounting Pi'acliLC).
Company law requires the trustees to prepare ftnancial statements for each financial year ivhich give a ti'ue and fair view of the state
ot" aftairs of the charitable coinpany and ot" the iiicomingy resources and application ot. resources, includins, the inconie and
expenditure. of the cliarilable COLnpany for thai peri￿J. In preparing those financial slalemenls, the trustees are required to
sel¢c15Ultable accounting policies and then apply thern consislently;
obser¥'e the methods and principles in the Charity SORP;
make ju(Igiemeiits and estimdte.% that are redsonable and prudent-
prepare the financial sialemenls on Ihe going concern basis uiiless il is inappropnaie lo presuine Ihal the charitable coinpany will
Lonlinuc in business.
The Iruste¢s ai¢ responsible for keeping pi'oper a¢eounting records which disclose with reasonable accuracy al any time the financial
position of the chdritdble coinpdny and lo enable theni lo en%ure th¢lt the tinanciul staiement% comply wilh the C,ompdnie% Act ?006.
They are also respoiisible for safegTuarding the asbels of the chdritable coinpany and hence for taking reasonablL' stepg for (he
prevcnlion and deleLtion of fraud and other irregularities.
In so far as ihe trustees are aware..
Ihere is no relevani audii infonnarion of which (he chariiable coinpany's audiiors are unaware; and
tlie Irusteeb have iaken all slep5 thai the), ought to have taken to inake themselve&4 uware of any relevant audit inforinaiion and to
eslablish Ihal tlie audiioTS are aware ol. that iiiformation.
Approved by order of tlie board of trustees on 27 Noveinber 2D24 signed on ils beli¢ill' by:
Mr A W Isles- TNslee
Page 10

REPORT OF THE IiNDEPENDENT AUDJTORS TO THE MEMBERS OF
LUTON CARNIV AL ARTS DEVELOPMENT TRUST
Opinion
We have audiied the financial Sthlemenis of Lulon Carnival Arts Developineni Trusi (Ihe 'charilable companv,) for the year ended 31
March 2024 which Lornprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the
tiiiancial stateinents, includingT a suininary of sigFniticaiit accouiilinb, policies. The fiiian¢ial reportin&F framework that has beeii applied
in their preparation is applicable law and United Kingdoin Accounting Standards {UtiAled Kingdoin Generally Accepted Accounting
PrdctiLe).
In our opinion the financial slaternenls..
gvive a true and fair N'iew of the state of the charitable compaiiy's aftairs as al 31 March 2ffr24 and of it5 inconiingy resourceb and
application of resources, ii)cludin8 ils ineome and expendiliire, for the year then elided.
havc bccIi propLrly prLparLd in &ccordanL'L willi Unilcd Kingdom GLncrally Aiecptcd ALLouiiling PraL'tiLL; &nd
have been prepared in accordance with the requireinents ot the Conipanies Acl 2006.
Basis for opinion
We conducted our audil in accordance with Inlemalional Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our
rLsponsibilitics undLr IhosL Standards arc fLlrthLr dLSLribcd in Ihc Auditors, rcsponsibililLLS for Ihc audit ot Ilic finanLial stateincnts
section of. our report. We are independent ot. the charitable company in accordance witli the ethical requirements that are relevant to
our audit of the financial stat¢inents li) the UK, including the FRC'S Ethical Standard, and we have fulfilled oui. other ¢ihical
re8pon%ibilitie* in accordunce with tliese i-equirement%. We believe thdt the audit evidence we have obiained 1% %ut'ficienl and
approprilite lo provide a basis for our Iipiiiion.
Conclusions relating to going concern
In auditing the fiiiancial statenients. we have concluded that the trustees, use of the going concern basis of accounting in the
prer)dfdtion ot'ihe IinAncial 4tdlemenl.% 1.% dppropriule.
Bas¢d on the woi'k we have perfoi'med, we have tiot identitied any material uncertaiiiiies relating to eijenls or Londililins that,
iiidividually or coll¢¢iively. niay vast sigyiiilicanl doubl on the charitable Coinpaiiv's ability lo coiilinue as a byoin&) concern tor a p¢i'iod
of al leasl twelve months from when the fiiiancial slalemenls are auihorised for issue.
Our responsibilities and the responsibilities of the Iruslees willi respect ¢0 going concern are described in Ihe relevant sections of Ihis
report.
Other Informatlon
Tlie Iru%tee% are re¥pun.%ible for thv otlier int"orniaiion. The uther infurmation Lvtnpri%¢¥ the iiiforrnaliun iiiLluded in th¥ Annuul
Report, other tlian Ihe fii)ancial slaiemenis aiid our Report of Ilie Independent Auditors Ihereon.
Our opinion on the financial slal¢inent,s does not cover the other inlonllation and, except to tlie extent otherwise explicitly staled in
oui. report, we do not express any forin of assurance conclusion Il)ereon.
In coi)nection with our audit of the finai)cial stateinenLg, our responsibility is lo read the other infonnation and, in doittg so, consider
whether the orher information is malerially incoiisisleiil with the financial sialemen15 or our knowledge obtained in the audit or
otherwise appears lo be Inaterially Inisslal¢d. Tt. we ideiitify such material inconsisteiicies or apparent material niisstalements, are
requir¢d to delerinine wh¢iher (his giv¢¥ rii¢ lo a Inalei'ial misslalem¢ni in lh¢ financial slalemenls Ihemselves. Ir, based on Ilie work
WL htJVL PLrforinLd, WL LollLludL that tlicL' 1% u malLrial Ini%itatLIIILnt of thi% oihLr information, arc rL'quirLd to rLpuit thllt faLt.
We hai'e noihing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In oibr opinion. bcised on the work iinderlaken in the coiirse of ihe aiidit..
the infotTnation given in tlic RLport uf tlic Tru%tcc% for tlic finunLial ycar for whiLh thc IinanLLal %talcment% arc PTcpaTcd i
consistent with the financial statements. and
the Report of the TrLlStees hag been prepared in acLordanc¢ with appliLabl¢ legal r¢quireim¢nts.
Page 11

REPORT OF THE IiNDEPENDENT AUDJTORS TO THE MEMBERS OF
LUTON CARNIV AL ARTS DEVELOPMENT TRUST
lat¢ers on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and ils environment obtained in the course of the audit, we
have not identitied material Inisstatements in the Report of the Trustees.
We have nothing tu IL'PUrt in resPLCt ot" thtr tollowing mutter5 whcrL the Companies Act ?UU6 reqiiirc% tL) repurt to yuu if, in our
opinion..
adequate accounting records have not been kept or returns adequate for our audit have not been reLeived from branches not visited
by us; or
the financial slalemenls are not in agreement wi(b the aeeoLinting records and returns; or
ccrtain disLlosurcs ot trustccs, rLmunLralion spcciticd by law arL not Inadc,. 4)r
we have not received all Ihe intonnation and explanations we require tor our audit; or
the trustees were not entitled lo take advantage of the small companies exemptLon from the requirement lo prepare a Strategic
Report or in prepdrinby the Reporl of Ihe Trustees.
Responsibilities of trustees
A5 explained more tully in tlie Tru51ees' Responsibililies Stalernent, Ihe trustees (who are also tlie directors ol. tlie charitable company
for the purposes of coinpany law) are responsibl¢ for The pre￿ratIOn of the financial stareinents and for being &atisfi¢d that they give
d iriie and tair view, and for sijch internal control AS the Irii%tee% (lelermine 1% nece5%&ry to endble the prepardtion ol. Iindncial
siaiements that are free from material niisstaiemenl, whether due lo fraud or en'or.
In preparingi tlie tinancial stateinents, the trustees are responsible tor a5sessingy the charitable company's ability lo coiitinue as a going,
concern. disclobing, ab applicable, m1& tterg related to going concern and usii)g Ihe going concern basis ot" accoiiiiling unless the
tru%tee% either intend 10 liqiiidate the charitable eompuny or io cea.%e operation%. or lidve no reuli%tic dlterndlive bul to do %0,
Page 12

REPORT OF THE IiNDEPENDENT AUDJTORS TO THE MEMBERS OF
LUTON CARNIV AL ARTS DEVELOPMENT TRUST
Our responsibilities for the audil of the financial staten]ents
Our objectives are lo obtain reabonable asburance about whether the finaiicial statements as a whole are free from material
misstateillent, whether du¢ to traud or error, and to Issue a Report ot the Independent Auditors tliat includes our opinion. Reasoiiable
assurance is a high level of assiirance, bul is not a guarantee that an aiidil conducted in accordance with ISAS (UK) will always delecl
a malL'rial mi%btulLment whLn it LXl%t%. Mit>%tdtcmL'nts Lun arise fruin fraud or Lrror and ure Lun%idercd niutcridl if, individuully or in
the aggregate, they could reasoiiably be expected io influence tlie econoTnic decisions of users taken on tlie basis of these fii)ancial
51atemenls.
The extent lo which our procedures are capable of deteciing irregularities. including Iraud is detailed below..
Irregularities, including traud, are instances ot. non-conipliance witli laws and regulations. We design procedures in line with our
responsibilities, Outlined above, to detect material inisstatements in respect of irregularities, including Iraud. Our approach lo
identifying? aiid a%%e%8ingF tlie risks of maleridl mis%ldtement in re%pect of irregulurities, incluclingy fraud follow%-
The cngagctnLnt partncr cnsurcd that thL engagLmcnt ILam LoIILLIiNLly had thc appropriate compLtcncc,
capabilities, and skills to identify or recognise non-coinpliance with applicable laws and regulations.
Ve identified the laws and r¢gulations applicable lo Ihe company through discussions with Trusiees attd
IndnAgiemenl, diid trDin oiir coinmercial kiiowledgFe and experience of'the %ecror in whicli Ilie company opeThte%.
IVL foLused on specific laws and rLgTulations whiLh we con¥idL'rLd may have a direct impact material effecl on
th¢ financial statements, or the opertstions ot the Company whiLh inLluded the C'harities Aet of 201 I, dat
protectioii. anti-bribery. eimployment, environinental aiid health and safely legiislation.
Ve assessed Ihe extent of Lompliqnce willi the laws and regulations ideniified above through making enquiries of
Indlldgemenl dncl inspecting le¥iil corre%pondenee: ￿nd
Identified laws and regulaiions were cominunicaied wiihin ihe audii team and ilie ieam remained alen 10
instances of non-Loinpliance throughout the audit.
We ideniified the greaiesi risk of maierial impact on Ihe financial stsiemenls from irregulariiies, including fraud, lo involve the
Loinplelene8N liiid timing uf inLunie reLo¥nilivn and the overriLle of Lonlrols by management,
To address the risk of fraud in relation to revenue reLognition, we..
PerfL7riMed dvlailed %ub%lant1￿V te%ling to addr¥.%N Lvmpletene%4 und aLLiifaLy of inLL)Ine.
Assessed Ihe appropriateness and ¢gpplicatioii of the accounting policy coiiceming income recognition
To address the risk ot fraud throug,h manabrnient bia5 and override ot. conti'ols, we..
PL'rforinLLI unulyticyl proLLduru4 tu idLntify uny unusual or unLxpLclL'd rLlatiun.4hips.
Tested journal entries to ideniify unusual Iransaclions.
Assessed ivhether judgements and assumptions made in delermiiiing the accounting estimates were indicative of
potential bias.
Invesligaled the rationale behind signilicanl or unusual transactions.
Because of the inherent liinilalions of an audit, there is a risk tliat we will not detect all irregularitie5. inCl￿dIng tliose leadiiig to a
malei'ial misslatemenl lil the finanLial slalementb or non-complianLe with regulation. This risk inLreases the more that Lompliance
with a law or regTulalion is removed f roin the events and traiisaclions retlecled iii Ilie tinancial slalenien15, as we will be less likely to
becoine aware of inslanceg of non-compliance. The risk is algo greater regarding ittegiilariiies oceutTing diie lo fThiid raiher Ilian
crroL', trdud involvL% Intcntiondl LonLCdl]ncnt, foTULfy* Lollutsion, otni%4ion, or ￿]1.￿1tprC￿e￿t￿t1Un.
A further description of our Yesponsibililies for the audit of the financial slalementg is loealed on the Financial Reporting Council's
web%ite al www.frc.orgF.uklauditor%re%poiisibilities. This de%criplion torm% part ol'our Report ot.the Independent Auditor%.
Page 13

REPORT OF THE IiNDEPENDENT AUDJTORS TO THE MEMBERS OF
LUTON CARNIV AL ARTS DEVELOPMENT TRUST
Use of our report
This report is made solely to the charitable company's members, ab a body> in aLcordance with Chapter .3 of Part 16 of the Companies
Act ?00(Tr. Our audit work has b¢eii uiidertaken so that we misylit state to the cliaritable ¢oinpaiiy's members tliose matter5 M'e are
required io stale lo them in an auditors, report and for no other piirpose. To the fullest extent permiiied by law, we do not accepi or
a%sumc responsibility to unyonc other thdn thL Lharituble Loillpdny thnd the Lhdritable Lonipuny's InembLr% a% th bod)'I tur OLir aiidit
work, for this report. or for the opinions we have fonmed.
Tara Aldwin ACA (Senior Siatulory Auditor}
for and on behalf of FKCA Limited
Stdtufory Auditor
260 270 Buiierfield
Grcal Marlings
Liilon
Bedfordghire
LU2 8DL
28 November 2024
Page 14

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
STATEMELNT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDI'I"URE ACCOUNT}
for the Year Ended 31 MARCH 2024
2024
Total
2023
Total
tunds
as Teslaled
Unrestricted
Restricted
Designated
Notes
ENDOWMENTS FROM
1,401
INCOME AND
Grants and donations
241,461
242 862
243,959
Other trading and sponsorship
Ltivitics
Investment inconie
Total
190,139
575
192 115
190,139
575
433 57(1
225,303
86
4(19 34
241461
EXPENDITURE OiN
Co81 ot'&Feneratin&p tunds
28.7()5
28,765
26.717
Chthrituble th¢tivitiLs
Luion Inteimalioiial Carnival
Creuiive learning
Arlis¢ic programme
Trading aclivilies
Total
104,474
5,219
104,712
93,IX6
46.76.3
209.186
911,405
46,763
16.1904
541023
244,645
70,391
54,.157
154,490
550600
51,769
IY(1227
112 135
112 135
244 661
NET
INCOME/(EXPENDLTURE)
1,888
(3,2UO)
(l12,135}
(113,447)
(lJ1,252)
RECONCILIATION OF
Total funds broiigl)r foi'ivai'd
FUNDS
46,743
44,254
4,242,893
4,333,890
4.415,142
TOTAL fuNDS CARRIED
FOKW ARD
4 1307511
4 220 443
4 333 890
The notes fonn parl of iliese finaneial statements
Page 15

LUTON CARNIVAL ARTS DEVELOPMENT TRUST (REGISTERED NUMBER: 03525877)
BALANCE SHEET
31 MARCH 2024
2024
Total
runds
2023
Total
funds
re%idted
Unre5trict¢d
funds
Restricted
runds
Designated
Funds
Notes
FIXED ASSETS
Taii(iible assets
14
4.1()J
4,13fi,758
4,134,921
4,247,73R
CURRENT A5'5ETSi
DebiTrrs
Cash al bank and in liand
40,100
40,100
52,497
93,496
41,054
134,550
130,187
CREDITORS
Amounts fal ling due within one
year
16
(41),028)
(49,028)
{44,035}
IYET CURRENT ASSETS
41,054
86,152
TOTAL ASSETS LESS
CURRENT LIABILITIES
48,631
41,054
4,130.758
4.220,443
4,333,890
NET ASSETS
FUNDS
UnrL%iriclcd funds
Restricted funds
TOTAL FIINDS
4 I3￿ 758
4 2?0 443
4 333 R90
48,631
4 171,812
4 2?fi 44.1
46,743
4.287 147
4 1.11 XQO
These financial slalemenls liave been prepared in accordance with the provisions applicable to charitable companies subjecl lo the
mall companies regime.
Thc financial stalcmcni8 wcrc approvcd by Ihc Board of Trustccs and authori8Ld t.or i.ssuL on 27 NovLmbLr 2024 and wLrL' Signed on
its behal I. by:
Mr A W Isles- Trustee
The notes fonn parl of iliese finaneial statements
Page 16

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
CASH FLOW STATEMENT
for the Ye#r Ended 31 MARLH 2024
2024
2023
as restated
Nores
Cash flow5 from operating activities
Cash generated from operationb
Net cash provided by operatinsF activities
22 ()19
C95h flows from investing activities
Purchase ol tangible fixed ass¢ls
Interest received
Net cash (used in)Iprovided by investinLi activities
(5.550)
575
4.975
86
86
Change in cash and cash equivglents in
Ihe reporting period
Cash and cash equivalents at the
beginiiinll i)f tho rLporlink period
Casli aiid casli equivaleiits at tlie eiid or
the reporting period
16,760
22,705
77 C)90
The notes fonn parl of iliese finaneial statements
Page 17

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
IIOTES TO THE CASH FLOW STATEMENT
for the Ye#r Ended 31 MARCH 2024
RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERA TING
ACTIVITIES
2024
2023
as restated
Net expenditure for (he reporting period {as per the Statement of
Flnaneial Aetii'itles)
Adjustment5 for".
Depreciation charges
IntciL%t ICLcivcd
Decrease in debtors
Increasel(decrease} in creditors
Net cash provided by operations
(11.I,447)
{81,252)
118,367
(575)
12,397
4.993
18.742
(86)
27,923
42 708)
ANALYSIS OF CHANGES IN NET FUNDS
Ai 1.4.23
Cash flow
At 31.3.24
et cash
Cash al bank and in hand
16,760
1 (),7(10
94.450
94,450
Total
The notes fonn parl of iliese finaneial statements
Page 18

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
NOTES TO THE FINANCI.4L STATEMENTS
for the Ye#r Ended 31 MARCH 2024
ACCOUNTING POLICIES
Basls of preparlng the financial statements and consolidatfion
ThL finunLial %tatcmLnt% of the Lliaritdble conipuny, whiLh 1% u public benefit Lntily under FRS 102, huve becn prep£￿Ld in
accordance with the Charilies SORP (FRS 102) 'Accounting ai)d Reporting by Charilies- Sialeinent of Recoinm¢nded
Practice applicable lo charities preparing their accounis it) aLcordance with the Financial Reporting Standard applicable in the
UK and Republic of Jreland {FRS 102) (etlective l Janiiary 2019}', Financial Reporting Standard 102 'The Financial
Reporiiiig Standard applicable in the UK and Republic of Ireland, and the C,ompaiiies Act 2006. The financial slalements
Iiavc bLClI pfLpared undcr thL hislorical cost Lonvcnlion, WLth Ilic cxccption of invcslmciils whiLh &rL included at m&rkct
value.
Income
All inLome is recognised in rhe Sialemenl of Financial Aclivilies once Ihe charily lias enlillen)eni 10 Ihe funds. il is probable
that the ineomL will bc ILccivcd and thL amount can be mcasurcd rLliably. All incon)ing rcsourLLs arl slalLd nLI of V AT
wliere applicable.
Cjovernment grdnLg received in re%pecl of revenue item% are included in Ilie Stdteiment of Financiul Activitie% in the period to
which the relevalli expLndilure rel<ltL's.
Voluntary incoine is rec¢iv¢d by way ot. &yranls and gyifts in kiiid and is included in full in the Stat¢1nelll of Financial
Activities when receivable.
Expendlture
Liabilities are reLognised as expenditure as there is a legal or coiistruitive obligation comniilting Ihe Lliarily lo tlial
expenditure, it 15 probabl¢ that a traiisfer of econoinic beiiefirs wi I I be required iii seiil¢nieiil and the aii)ount of the obliglalion
can be measured reliably. Expendiliire is accounted for on an accruals basis and has beeii ulassified under headings thai
g¥regdte dll ¢051 related to the ¢ate¥ory. Wliere ¢unnol be dire¢ily dltributed to particular headings they have been
allocated lo aciivilies on a basis consislenl witli tlie use of resource8.
Irrecoverable V A T is char&yed ¥Ag7ainst ihe cale&yory ot resources expended tor which il was incurred.
Ch*ritable llLtivilies
Ch(Irit¢ible expendiiure comprises of those ¢osls incurred by the charity in tlie delivery of ils acliviiies and services for the
beneticiaries. It includes both costs that can be allocated directly to siich activities and those of an indirect nature to support
them.
AIIoLuilon of vverh¥Md Mnd support ivst¥
Support costs are allocated on the following basis:
Building ruiining costs
C¢nlre overheads
Organisalion Lo%L
Ottice Cosls
Support Staff
Governaiice
Square Imetre betweeii otlice alld centre overheads
Time usage of centre
Nunibir of slatt ILquivalLnt bodiL.
Nuinlier of slaff (equivaleni bodies} and lime usage of centre
AIIoLated on lime
Number ot staft (equivaleiil bodie.s)
Tangible fixed assets
All aqsets costillg more Ihan £250 capitalised and all assets are valued at historic cost.
TaiigFible fixed as%el4 are %tated al cost le%% (lepreciation. Depreciation 1% provided al r<2le% ialculated lo write ofy Ihe co%t of
fixcd a5SCt5, Icss Ilicii. cstijiiatcd ic5idual valuc, ovci- thcii. cxpcctcd 115cful ILVC5 Oll tli¢ followiLig base5-
LcasLhold Land_ l 00 ycars Straight Line
Leasehold Building - 50 years Straiglil Line
Planr & Machinery - l O years Sirnighi Line
Fixture% & Fitting% - 4 year% Strdigiht Line
All cxpcnditurL for the building ot-thL national ccntrc is Lapitaliscd froni the eapital projLLts.
P¥AEe 19
continued..-

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Ye#r Ended 31 MARLH 2024
ACCOUNTING POLICIES - continued
Taxatlon
ThL Lhurily is exLmpt from Lorpurntiun tax on it% Lliuritable aclivitiCS.
Fund accounting
Unr¢stricted fundÈi can be used in accordance with the charitable objectives at the discretion of th¢ trustee5.
Restriclcd funds can only bc usLd for particular rcslriLtcd purposLs within the objL'Lts of Ilic cliarity. Rcstrictions arisc whLn
specified by the donor or when tunds are raised lor parlicular restricted purposes.
The cliarity received grant% for the purchase of tixe(l a%set% which depreciated over their estimated u4cful live%. The
I￿slee9 liave creaied a designated fund 10 refleci the book value of assets. This fund is used lo fund futiire depreciaiion
chargLs OVLr thc Lslimaled UbLful litL of the &SSLIs.
Further explanation of th¢ nature and purpose of each fund is included in the notes lo the financial statements.
Flnanelal Instruments
Debtnrs
Trade aiid other debtors are reco(vnised at Ihe setlle1nent aillount due after any trade discouiil ottered. Prepayinents ar¢ valued
at the amount prepaid nei of any trade discounis due.
Credltors
Cr¢dilOi'&+ und provisions are reLognised where the iharily has a preseiil obligation resuliing from a past event that ￿￿111
probably result iii the Ii'ansfer ot. funds to a third pa11y and the nmount due lo settle the obligyalion can be Ineasured or
esiimaled reliably. Creditors aiid provisions are normally recognised al Iheir seiiiemenl amount after allowing for any Irade
di4cvunls due.
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the coinpany's acuounling policies, which are describe in Ihe notes lo financial slalemeiils, Ihe Direulors
are required tu Inake judgem¢nt%, ￿tlinate% and u%.4LllllPtion% about the ulloLutiun uf inLunie und expenditure.
The ebtiinates and underlying assumptions are reviewed on an ongoing basi>. Revisions 10 accounting estimates are
recosTllised in the period in which Ilie estiinale is revised if. Ilie rei'ision atfects only that period. or in the period ot. the
revision and future periods if the revision affects both current and future periods.
GRALNTS AND DOIYATIOLYS
2024
20?.3
as reslaled
Donations
Grants
1,400
241462
142 862
24? 959
24.1959
P¥AEe 20
continued..-

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Ye#r Ended 31 MARLH 2024
OTHER TRADING AND SPONSORSHIP AcT[￿ITIEs
2024
2023
as restafrd
Bar & catering incoine
Hire fees
Sponsorship income
Commissions
591
53,281
110,654
25,613
19U 139
599
50,(M)8
150,(KJO
24.696
225 JU3
INVESTMENT INCOME
2024
2023
as reslaled
Deposit account int¢r¢st
575
86
COST OF GENERATING FUNDS
Fundralslng
2024
2023
as rcsialcd
Fundraising
Trading actlvities
2024
202.3
as resiaied
Technical supporl
ConsultunLy
Evei)t iiiaiiag¢iMent
Postage and slalionery
Arli%lic niateria15
Equipment liire
100
250
3,368
90
70
7,407
282
11.467
2.897
457
13,642
794
AggrcgatL amounts
26.717
P¥AEe 21
continued..-

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Ye#r Ended 31 MARLH 2024
CHARITABLE ACTIVITIES COSTS
Support
cos(s (see
nolL 8)
Direct
CLi%l4
Lulon International Carnlval
Creative leariiillg.
Artistic programme
TradiIig activilics
174,896
75,020
29,221
1.1.422
.399 559
34,290
23,385
17,542
50,4%2
125 699
209,186
9R,405
46.763
163 904
519258
SUPPORT COSTS
Organisalion
Office
Overheads
Tvtal
Luton Jnlernational Carnival
15.515
16,356
5,999
8,477
682
4,264
10,2Y8
6,347
7,•71)
34.29U
23,385
17.54•
50.4x2
1?5 6L)9
Artistic prosramm¢
Truding atitivitie
AUDITORS REMUNERATION
Audiiofi+' remiineiaiion for the year is £6,825 for the year (2023.. £6.500). Audiluis, remuneration for non-audit services for
the year total4 £4.850 {2023: £2,500).
NET INCOMEI{EYPENDITURE)
Nel incoinel(vxpenditure) is slated after Lhargingl(crediling):
2024
2023
as rcsiulcd
Depreciation - owned assets
Aiiililor reillunerulion
118,-367
18,742
10.
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year elided I l March 2024 nor for the year ended 31 March
2023.
P¥AEe 22
continued..-

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Ye#r Ended 31 MARLH 2024
io.
TRUSTEES, REMUNERA TION AND BENEFITS - continued
Trustees, expenses
Tliere were no expenses reinibursed to trustees for the year 31 March 2024 nor for the year ¢nded I l March 20?3.
STAFF COSTS
2024
2023
Wages
Social %ecurity
Pensions
121,928 120,364
5,167
10,470
2.116
1,882
12L) 211 132 716
The aiet2ge monthly nuniber of employees during the year was as folloH's'.
2023
IL% reslaled
Employ¢¢s
No employees received emoluments in excess ot'£60,000.
12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
R¢slricled
fLinds
funds
Designated
Funds
Total
funds
as reslaled
INCOME AND ENDOIVMENTS FROM
Granis aiid doiialioiis
24.3,959
243,959
Oihcr tradiiig artd sponsorship aciivitlC8
Inveslm¢nl incom¢
Tot41
224,704
599
A6
244 Ci44
225,303
86
469 348
EXPENDITURE ON
Cost of generating funds
8,099
18,618
26.717
Charitable activilies
Luluii Iiiternalional Carnival
Creative leariiin&'
Arlislic programme
Traditig activilics
Total
122,537
279
122,108
244,645
70,391
54,357
1544YU
550 600
410L)2
172 007
263
266,458
135
LYET AIYCOME/(EXPENDITURE)
52,697
(21,814)
(11:.135)
(81,252)
RECONCILIATION OF FUNDS
Total funds brought forn'ard
{5,952)
66,066
4,355,028
4.415,142
P¥AEe 23
continued..-

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Ye#r Ended 31 MARLH 2024
12.
COMPARA TIVES FOR THE STATEMENf OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
DesigTnated
Funds
Total
fiinds
re%idted
TOTAL FUNDS CARRIED FORWARD
4() 745
4 242 893
4 333 890
13.
PRIOR YEAR ADJUSTMENT
Dui'ing the pre.paration of the accounts for the year ended 31 March 2024, li was identified that sotne costs were allocated to
the incorrect fund.£ in the comparaiive perio(l. The Jggregale ot the mi4<illoc41ed co4t% and the eflecl on the t"und4 a￿ set oul
in Ilie table below:
Fund balance
per filed
cci)unts
£41,716
Total of mlsallocated colts and
effect on brouaht forward
funds{inerethse) I decreise in easts
£5,026
£16.952
(£7,050)
Adjusted fund balance
and brought forward
balance
£46.742
£16.952
Fulld
GLnLral
Arts Council Funding
BLCF Coinimunily
Inveslmeni Fund
BLCF Stability Fund
£7.050
£14,9214
(£14,92%)
J4.
TANGIBLE FIXED ASSETS
Fixtures
and
tittings
Plani and
InaLhinery
Property
Tvldl
COST
Ai l April 2023
Additions
AI I I MEir¢h ?n?4
DEPRbCIAI'ION
Al l April 2023
Char&ie for year
At 31 March ?024
NET BOOK V.4LUE
Ai 31 March 20?4
Ai 31 March 2023
5,806,762
918.943
534.451
5,550
540.001
7.260,156
5,5.50
7 2()5 706
5 762
91¥943
1,563.869
918,943
52L),606
3.012.418
118 3()7
3 130 785
1676 004
918,941
535,838
4130758
4 247 893
4 134921
4 247 738
ThL funding dgrLLmL'nt duti.d 17 SLptL'mbLr 2004 ￿nd thL' gr￿￿t agrL'L'mL'nl dJti.d 16 MMY 2007, drL' variL.d by IliL dLLd4 of
variation on 8 January 2007, 4 November 2008 and 28 Januarv 201 l . These agrgemen15 are s¥cured by a legal mortgage by
way of a fixed charge over all present and future estates, interests, rights and beiielits belonging lo or enuring lo the Lompany
under th¢ terms of any l¢a&>e gyranted in respect of. the tr¢¢hold properly- and by way of a lixed charbre over all building'i and
other %lruclures on. and iienis fixed lo Ihe freehold property.
Tlie funding agreement dated 8 January 2007 as varied by a deed of variation dated 25 March 2008 is secured with a fixed
egal and equitable charge over all preseiit and future rights, lille and iiiterest in, to and under the freehold properly.
P¥AEe 24
continued..-

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Ye#r Ended 31 MARLH 2024
15.
DEBTORS: AMOUNTS FALLINC DUE WITHIN ONE YEAR
2024
2023
as restafrd
Trade debtors
VAT
22.280
873
Prepayineiils and accrued iiicome
7,701
16.
CREDITORS: AMOUNTS FALLILNG DUE WITHIN ONE YEAR
2024
2U23
as reslaled
Trade Lreditors
11,724
5,189
3.0¥4
27,035
VAT
Other creditors
Acci'uals ai)d delerred incorne
2.666
DEFERRED INCOME
DLfLrrLd InLuinL
Deferred Income broubihi torward al l April 2023
Incoining resources deferred in Ilie Cu￿ent year
A1110uii14 rclLdsLd fruiii prLViUU% years
Deferred Income carried fnnvard al .31 March 2024
3.00(1
7,453
17.
LEASING AGREEMENTS
min11￿u]n leu%e receipt% fall due a% follnws..
2024
2023
Net obl iglltion% receii'able:
Within one year
Between one and five years
13,301
8.865
P¥AEe 25
continued..-

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Ye#r Ended 31 MARLH 2024
18.
MOVEMENT IN FUNDS
Net
movement
in funds
At 1.4.23
31.3.24
Unrestrlcted funds
General Fund
46,743
I,R88
4R,631
Res'tri¢ted funds
Fulure Depreciation Cliarges
Arts CounLil Funding
Royal Opera House
Steel Cliarilable Trusi
Foylc Foundation
BLCF Green Futures Fund
4,242.893
16,950
2,304
25.000
(112,135)
5,663
(2,304)
{25.000)
11,724
4,130,758
22,613
11,724
4,?87 147
115.335)
4 171812
4 220 44.3
TOTAL FUNDS
Net moveinent in fuiids, included iii the above are as lollows..
Incomin
resoiirces
Re%ource
expended
Movenient
in fiinds
Unrestricied funds
Geiieral I,und
192,115
(190,227)
1.888
Restricted funds
Future D¢pr¢¥iaiioi) Charges
Arts Council Funding,
BLC F Liilon Lilizens Fund
BLCF Cuminiinily Ini'eslmeiil Fund
Royul Opera House
Steel Chariiable TrLisI
Foyle Foundation
BLCF Green Fiilure5 Fund
(112,135)
( l ()5,598)
{4,000)
{36,?00)
(2.304)
(25,000)
(8,276)
(112.1351
5,063
171,261
4,000
36,2(10
{2,-104)
(25,0001
11,724
2a,000
i 0,000
241461
433 576
35r) 796)
547 023)
115 335)
113 447)
TOTAL FUNDS
P¥AEe 26
continued..-

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Ye#r Ended 31 MARLH 2024
18.
MOVEMENT IN FUNDS - continued
Comparxtlves for movement fin funds
Net
movement
iii funds
Ai
31.3.23
At 1.4.22
Uiire%lri¢l¢d funds
General Fund
(5.952)
52,695
46,743
Restrieted funds
Fuiure Depreciaiion Charges
Arts Council Funding
BLCF Luton C.i112ens Fund
BLCF Stability Fund
Royal Opei-¢'l HoiJ5e
Steel Charitsbll Trusi
4.155.028
5.3.576
9,902
2.588
(112.135)
{36,626)
(9,902)
(2,588)
4,242,893
16,950
25,1)00
1.33,9471
?5,000
4 287 147
4 333 890
4421,094
TOTAL FUNDS
Comparaiive nel moN'ein¢ni in fuiids, included in the above are as follows..
Incoiiiing,
resoiirces
Resources
expended
Movement
in funds
Unrestricted funds
General Fund
224,704
(172,OUg)
52.695
Restrleted funds
FLilure DepreL'iaiioi) Charges
Arts Council Funding
BLCF Luton CiliLeiis Fund
BLCF Coininunily Ini'eslinent Fund
BLCF Stability Fund
Royal Operd Hvuse
Steel Lhai'iiabl¢ TNSI
(112,135)
(190.071)
{I),902)
(36,201)
(27,586)
(2,f)9())
112,135)
(.36,C)26)
{9,9021
151,445
36,201
24 C)98
5.000
{2,588)
178 5911
550 600)
133.947)
81252)
TOTAL FUNDS
469 348
P¥AEe 27
continued..-

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Ye#r Ended 31 MARLH 2024
18.
MOVEMENT IN FUNDS - continued
A current year 12 inonihs and prior year 12 months coinbined position is as lollows..
Net
movement
iii funds
Ai
31.3.24
At 1.4.22
Uiire%lri¢l¢d funds
General Fund
(5.952)
54,583
48,631
Restrieted funds
Fuiure Depreciaiion Charges
Arts Council Funding
BLCF Luton C.i112ens Fund
BLCF Stability Fund
Foyle Foundiition
BLCF GrLLn Futures Fund
4.155.028
5.3.576
9,902
2.588
(224.270)
{30,96.3)
(9,902)
(2,588)
11.724
4 130,758
22,613
11,724
6,717
4 171 %12
4 220 443
4421,094
?49,2¥21
TOTAL FUNDS
A curreni year 12 inonllis and prior year 12 months coinbined net movement in funds. included in the above are as follows:
Incoiiiing,
resoiirces
Resources
expended
Movement
in funds
Unrestricted funds
General Fund
416,519
(362,236)
54.5¥3
Restrleted funds
FLilure DepreL'iaiioi) Charges
Arts Council Funding
BLCF Luton CiliLeiis Fund
BLCF Coininunily Ini'eslinent Fund
BLCF Stability Fund
Royal Operd Hvuse
Steel Lhai'iiabl¢ TNSI
Foyle Foundation
BLCF Greeii Futures Fuiid
(224,?70)
(355.669)
(13,902)
(72,401)
(27.586)
(5,000)
[25.0001
{8,276)
224,270)
(.30,963)
{9,9021
324.706
4,000
72,401
24 C)98
5.000
25.OOU
20,000
{2.588)
11,724
486.105
735 387)
1097 ()23)
?49,282)
194 099)
TOTAL FUNDS
Purpfjse of funds
Future depreciaiion charges - This fund is lo reflect the depreciation of the property over ils economic useful life on the basis
that funding ot-thL building grantLd and rLslriLtLd.
Arts CounLiI Funding - Thi5 fund is reslriLted for any parts of our arts programme delivery.
BLCF Liilon C.ilizen's Fund - This project fund is resNicled for arts programme delivery.
BLCF Coinmunity Investsnent Fund - Restri¥ted for Learning and Participation Manager role and outreach delivery acti￿lties.
P¥AEe 28
continued..-

LUTON CARNIVAL AR TS DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Ye#r Ended 31 MARLH 2024
18.
MOVEMENT IN FUNDS - continued
BLCF Stubility Fund - Rc4trictcd tor Loinmiinity engagLmeT]t And delivery activitic%.
Royal Opera House Bridge - Restricted for arts development and delii'er), training activities.
The Steel Trusi Fund - A one-year programme which secured core arts leam services lo principally oversee and deliver the
National ChildrLn's Carnival Wcck programmc and othcr L'hild tOLuscd Larnival aLtivilics
Foyle Foundation - Pilot artist development programme delivered in partnership with one ol UKCCA'S Artisls-in-Residence,
Rampagye Mds Band
BLCF Grccn Futurcs Fund - Projcet to assist UKCC'A to bLeomc more LnvironmLntally fiicndly in thL dclivcry of arts and
busin&￿5 activitie5. The Greener Future Fund was awarded by the Bedtordshire and Luton CDinmunity Foundation
19.
RELATED PARTY DISCLOSURES
There were no related pi)rty traI￿alti0ns for the year 31 MarLh ?U24 and 31 MtsrL'h 2023.
20.
ULTIMATE COIYTROLLING FARTY
Tlie ul(iinaie conirolling pariy is ihe Board of Trusiees.
21.
LEGAL STATUS OF THE CHARITABLE COMPANY
The Churildble Company is a Lumpany liniiled by gudrantee in England diid Wale% dlld ha% no %hdre iapilal, In the event of
tlie ¢hari¢y being wound up, the liability in r¢specl of Ihe guarantee is liiniled lo £10 per member of the charity.
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