REGISTERED COMPANY NUMBER: 05118504 (England and Wales) REGISTERED CHARITY NUMBER: 1107881
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 January 2021
for
LEEDS WEST INDIAN CARNIVAL
Phil Dodgson & Partners Limited Chartered Accountants First Floor 68 Uppermoor Pudsey West Yorkshire LS28 7EX
LEEDS WEST INDIAN CARNIVAL
Contents of the Financial Statements for the year ended 31 January 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | to | 5 |
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
LEEDS WEST INDIAN CARNIVAL
Report of the Trustees
for the year ended 31 January 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2021. The trustees have adopted the provisions of 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 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 05118504 (England and Wales)
Registered Charity number
1107881
Registered office
82 Sheepscar Street North Leeds West Yorkshire LS7 3AF
Trustees
I W Charles T A B France Chairman S M Bailey Treasurer B T Braimah N Cannonier S Howarth M Zakers M France-Mir B Albert Vice Chair (appointed 19/5/2021)
Company Secretary
Independent Examiner
Phil Dodgson & Partners Limited Chartered Accountants First Floor 68 Uppermoor Pudsey West Yorkshire LS28 7EX
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 23 July 2021 and signed on its behalf by:
B Albert Vice Chair - Trustee
Page 1
Independent Examiner's Report to the Trustees of Leeds West Indian Carnival
Independent examiner's report to the trustees of Leeds West Indian Carnival ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2021.
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 accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 accounts 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts 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 accounts to be reached.
E Podmore Chartered Accountant Phil Dodgson & Partners Limited Chartered Accountants First Floor 68 Uppermoor Pudsey West Yorkshire LS28 7EX
23 July 2021
Page 2
LEEDS WEST INDIAN CARNIVAL
Statement of Financial Activities
for the year ended 31 January 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 154,077 Investment income 2 2 Total 154,079 EXPENDITURE ON Charitable activities Carnival 46,316 NET INCOME 107,763 RECONCILIATION OF FUNDS Total funds brought forward 1,146 TOTAL FUNDS CARRIED FORWARD 108,909 |
2020 Total funds £ 92,701 13 92,714 90,356 2,358 (1,212) 1,146 |
|---|---|
The notes form part of these financial statements
Page 3
LEEDS WEST INDIAN CARNIVAL
Balance Sheet
31 January 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 1,917 CURRENT ASSETS Debtors 7 619 Cash at bank and in hand 107,735 108,354 CREDITORS Amounts falling due within one year 8 (1,362) NET CURRENT ASSETS 106,992 TOTAL ASSETS LESS CURRENT LIABILITIES 108,909 NET ASSETS 108,909 FUNDS 10 Unrestricted funds 108,909 TOTAL FUNDS 108,909 |
2020 Total funds £ 2,363 959 9,177 10,136 (11,353) (1,217) 1,146 1,146 1,146 1,146 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 4
LEEDS WEST INDIAN CARNIVAL
Balance Sheet - continued
31 January 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 July 2021 and were signed on its behalf by:
S M Bailey Treasurer - Trustee
B Albert Vice Chair - Trustee
The notes form part of these financial statements
Page 5
LEEDS WEST INDIAN CARNIVAL
Notes to the Financial Statements
for the year ended 31 January 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance Computer equipment - 33% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Reserves policy
The trustees of Leeds West Indian Carnival aim to maintain free reserves in unrestricted funds at a level which equates to approximately four months of unrestricted charitable organisational expenditure. The trustees consider that this level will provide sufficient funds to respond to applications for grants and ensure that support and governance costs are covered. The trustees consider that a level of four months is sufficient given the flexibility afforded by the nature of how the organisation functions on a day to day / year to year basis and how we are primarily funded
The balance held as unrestricted funds at 31st January was £9,177 of which £4,000 is regarded as free reserves. The current level of reserves is therefore higher than is needed and this will be used accordingly for unforeseen events. It is our aim to review the amount of reserves held on an annual basis
Page 6
continued...
LEEDS WEST INDIAN CARNIVAL
Notes to the Financial Statements - continued for the year ended 31 January 2021
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Deposit account interest | 2 | 13 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2021 | 2020 | |
| £ | £ | |
| Depreciation - owned assets | 446 | 577 |
| Equipment Hire | - | 3,410 |
| Venue Hire and Security | 2,372 | 13,160 |
3. NET INCOME/(EXPENDITURE)
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 January 2021 nor for the year ended 31 January 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 January 2021 nor for the year ended 31 January 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 92,701 |
| Investment income | 13 |
| Total | 92,714 |
| EXPENDITURE ON | |
| Charitable activities | |
| Carnival | 90,356 |
| NET INCOME | 2,358 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | (1,212) |
| TOTAL FUNDS CARRIED FORWARD | 1,146 |
continued...
Page 7
LEEDS WEST INDIAN CARNIVAL
Notes to the Financial Statements - continued for the year ended 31 January 2021
| 6. TANGIBLE FIXED ASSETS Plant and Computer machinery equipment £ £ COST At 1 February 2020 and 31 January 2021 7,496 2,439 DEPRECIATION At 1 February 2020 5,628 1,944 Charge for year 281 165 At 31 January 2021 5,909 2,109 NET BOOK VALUE At 31 January 2021 1,587 330 At 31 January 2020 1,868 495 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Prepayments 619 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Bank loans and overdrafts (see note 9) 13 Trade creditors 515 Other creditors - Accrued expenses 834 1,362 9. LOANS An analysis of the maturity of loans is given below: 2021 £ Amounts falling due within one year on demand: Bank overdrafts 13 |
Totals £ 9,935 7,572 446 8,018 1,917 2,363 2020 £ 959 2020 £ 9 8 10,586 750 |
|---|---|
| 11,353 | |
| 2020 £ 9 |
continued...
Page 8
LEEDS WEST INDIAN CARNIVAL
Notes to the Financial Statements - continued for the year ended 31 January 2021
10. MOVEMENT IN FUNDS
| At 1/2/20 £ Unrestricted funds General fund 1,146 TOTAL FUNDS 1,146 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 154,079 TOTAL FUNDS 154,079 Comparatives for movement in funds At 1/2/19 £ Unrestricted funds General fund (1,212) TOTAL FUNDS (1,212) Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 92,714 TOTAL FUNDS 92,714 |
Net movement At in funds 31/1/21 £ £ 107,763 108,909 107,763 108,909 Resources Movement expended in funds £ £ (46,316) 107,763 (46,316) 107,763 Net movement At in funds 31/1/20 £ £ 2,358 1,146 2,358 1,146 Resources Movement expended in funds £ £ (90,356) 2,358 (90,356) 2,358 |
At 31/1/21 £ 108,909 |
At 31/1/21 £ 108,909 |
|---|---|---|---|
| 108,909 | |||
| 2,358 |
continued...
Page 9
LEEDS WEST INDIAN CARNIVAL
Notes to the Financial Statements - continued for the year ended 31 January 2021
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/2/19 £ (1,212) (1,212) |
Net movement in funds £ 110,121 110,121 |
At 31/1/21 £ 108,909 |
|---|---|---|---|
| 108,909 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 246,793 246,793 |
Resources Movement expended in funds £ £ (136,672) 110,121 (136,672) 110,121 |
Resources Movement expended in funds £ £ (136,672) 110,121 (136,672) 110,121 |
|---|---|---|---|
| 110,121 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 January 2021.
Page 10
LEEDS WEST INDIAN CARNIVAL
| INCOME AND ENDOWMENTS Donations and legacies Carnival Income Donations Grants Investment income Deposit account interest Total incoming resources EXPENDITURE Charitable activities Hire of equipment Venue hire and security Rates and water Licences and insurance Light and heat Telephone Postage and stationery Publicity Sundries Acts and entertainment Refreshments Transport and travelling Costumes and troupes Workshop expenses Labour Accountancy & professional fee Bank charges Prizes Cleaning & PPE Property repairs Plant and machinery Computer equipment Total resources expended Net income |
Detailed Statement of Financial Activities for the year ended 31 January 2021 |
2021 £ - 835 153,242 154,077 2 154,079 - 2,372 390 1,242 983 1,131 81 4,621 465 11,148 959 7 260 2,027 15,768 2,007 32 - 904 1,474 280 165 46,316 46,316 107,763 |
2020 £ 31,211 1,090 60,400 |
|---|---|---|---|
| 92,701 13 |
|||
| 92,714 3,410 13,160 385 381 3,743 1,226 177 7,661 1,133 24,438 1,958 3,490 7,843 3,403 9,244 2,168 56 5,904 - - 329 247 |
|||
| 90,356 | |||
| 90,356 | |||
| 2,358 |
This page does not form part of the statutory financial statements
Page 11