CompaDy registration number. 04544572 Charity registration number.. l 119236 Sunshine International Arts {A company limited by 8uaraDte¢) Arjnual Report and Fina￿1￿ stat￿en(s for the Year Bndcd 31 MRrch 2023 CPP, Chartered Aceouotaots 79 Essex Road Jslington London NI 2SF Sunshfine International Arts Contents Reference and Adn)mistrattve D¢tsils Trustee5' Report 2toS Accountants, Report B8lAll¢¢ Sheet 7t08 Notes to the Fin8n¢i&l Ststemet)ts 9th15 Sun8hin¢ International Arts Reference 2nd AdTDinistrAtive Details Trnste& MT R.A. Mah8bir Ms D B&stwick Ms A Brow Ms L SatDue]s Ms C (Ycomior ChArity Registrat10￿ Nllmb¢r 1119236 Company Regtstradon Trlvmber 04544572 Th¢ ¢lwity is Eogland athl Wa]es. 10 Falmer Road London N15 5BA Reglstered Offiet Princlpal Offl¢¢ Swdio 5 209A SW9 8RU Independent E￿er CPP. Chartered Aceoutltsnts 79 Essa Road Islington London NI 2SF Page I Sunshine International Arts Trnstees, Report The twste¢8 PTe5Cnt their report wtth the fin￿cIal statements of the ch)rity for thc year ended 31 March 2023. The trustets have adopted the provisiw of A¢coutLtiDg and Rcportsng by Charities.. Stskmellt of RecOtlln￿dd Practice applicable to charities prepar￿ tb¢ir accowits in accordance with the FinallGial R¢poTh"ng Standard applI￿bI¢ in thr UK aDd Republic of Jreland (FILS 102) (C￿1Ve l Jaauary 2015). ObjectiveJ and Adivttles Objects 4lMs Sunshille International Arts (S.i.A) is onc of the leadm8 8rtistic. au¢atitsual and prothiction carniva] compati]¢$ and is b&qed iti South London. The n)1￿*0￿ tsf SuLsbme International Arts is to ¢nww¢r cmcrging artists attd art5 organisations acros5 ail di5ciplincs in their creative livts 2nd professioDaYorganisationa] developtnent alld to deliver kn'gh quality Carniv￿ and art5 proj￿. inforn and cducate local aDd nationaj comrnunitics. Children attd Youn8 Peopl¢ {CYP}. fr¢elancer5 and the publi¢ #bout th¢ 'Art of C4rnival'. Our vision 1$ to Ctfyit¢ work that 15 the haute eouture of carnival arts which is cba]lengiDg in its vision and contenL We are tOTJJll]]tt￿ to building long-terni relationsh￿5 that empowcr those with WF￿ we worL and to C￿1¢ the foundati¢)ns of a legacy i Achieve1￿￿{￿￿p¢rfO￿jOThee During th"s the ¢hJrity involved it) developing wnd swuring l¢xal Detsvo￿ aDd pamethips, supporting its freel8llc¢ artists. 1Th￿itiOn1￿£ s¢v¢r81 of its aGÉtvitifs Onli￿ ar￿ re, Basingstok¢ Carnival (£1.500}, LJAG (£1,590) aDd other proj¢¢t grants totaJling1£3.268). The charity also raised a further £9,061 from hiriTJ8 Out the centre The trust¢es review the Re8¢rves Poli¢y anttually when the fi[￿nci&l $tatcJnents ar¢ 8gre¢d Trustee5 and officers The trustecs and officers Se￿irtg during the Y￿ and since the year end were &8 follows.. Trll8tee8.' Mr R.A. Mahabir Ms D Bestwick M5 A Brown MrSsW￿ Ms L Samue]s M5 C O'connor {appoInt￿ 15 Odob¢r 2022} Page 3 Sunshine International Arts Trnstee8' Rtport Structur* zovernante mwgejnent Nathre •fgoverniRg doc*ment The cbarity is a compas]y limi¢d by guarkn as defin&l by the Comp8uies Act 2006. The chan.ty is govemed by the Memorandum aT*J Arttcle5 of kn￿lation datal 25 S¢ptanltr 2002 (zmcnded 23 Aiigust 2006). It was iegist¢r¢d as a charity on 16 May 2007. Ncw fr￿$teeS appointed through 8cnern] M￿lIti￿S bcld by cxistsnB trustee6. Fu]1 trainittg is provided to n¢w trustees, th"s includes whue necessary forn￿] trnining to Cn5ure the new tswtee understaud5 the thjties alld re5V)DStbilities of a trustcc. Recruilment is by petsonai (ontacL The ovetridtn8 requirermt for ail trustees is that they must be in syttlpathy with the cb8rity's objectives and activaties and are able ¢0 offer tillje and 5kil]s to support the wrrk at a strnt¢gi¢ Icvel. Thc day-￿daY adrninistratiOD of the dharity 1$ und¢rtak¢n by Ray MaFLabir wF#)se duties include pr¢parinB tbe ruo th¢ wor￿. RiFk The trustees h2ve a duty to kdentify aad review the risks to which the cbarity is exposed 8ud to ¢D5ure appropriat¢ controls are in place to provide re￿illable winst fraud and ￿rOr. A riak re￿ster has been set ￿ and is maintsined by th¢ tntst¢C5. Thi5 15 ￿ to identify sigwficallt nsks in order for acti¢m to be tyken to mitig&te them. Statel)￿11 of trusteu, rt4ponsibilltles Th¢ tTU5t¢cs {Btho are also the directo￿ of Sunsbine Internatil)#￿ Arts for the PUTP)5ts of coll2pany law) ar¢ rasponsible for preparing the trustees. report and the flljancial statements it) accordante with applieablc law and Unitrd Kingdom Accouttt￿8 Staudards (United Kingdom G¢￿e￿IlY Accepted Accounting Practit¢), In¢luding FRS 102 "The Fillancial Reportitig Stslldard applicable in the UK and Rcpublic of Irela￿1, The report ond accounts bave bE¢n prepared in acco￿l￿G¢ with the provisio￿$ in the Cornp4ui¢s Act 2006 relating to ￿411 ttsmpanies. Company law requircs the tru5ttt5 to prepart finatscial ststetncDts for e4cb fu￿claI year. UDder company law the tru3tees tnust not approve the financial st•tetneDts UDless they are satisfied that they 8tve a true and fair vi¢w of the state of aff2irs of the charitable compmy and of the incomjng re4olltces application of resources, inrmding its income and eXp￿d]b￿re. of the charitable comp3ny for period lu preparing these financial sclect suitable acc¢)unting polici￿ and apply them consistcutly: obsetve the rnethots attd prItt¢ipl￿ in the Charities SOPP. nuke judgfflncnts &nd estimates that arc rea50nablc and prndettv state whethEr applicable accouttting Stsndards. compnsin8 FRS 102 hftv¢ ireD follorf wbj¢ct 10 any tllater1￿ deparnwes dis¢105cd explain&1 in tht financial stateDXDts; and prepare the financial Staten￿lts on the going coDrxrn basis unless it ts iD4Jpmrn to P￿slO￿t that the haritabl¢ con]patty will Gontinue in bwines8. Page 4 Sunshine [nternatiOn￿ Arts Trustees, Report The ttiJstees are responsible For keeping propcr acrounting r￿rdS that can di￿109¢ with rwonablc at auy the financiaj posiiion of the charitable Company 8nd enthle them to e￿￿lre that the finall¢￿1 stsiemettts ¢ortLply with the Companie5 Act 2(K)6. They are ajso res￿nSible for s&fegwding the assets of the charitable cotnpatty and hence for takmg re&4oDable st¢ps for the prcv¢Dtson and det¢¢tiOD of fraud and oth¢r iTr¢gularities. The tnL8tees are resF¥)JLsibk for the maintenall¢¢ and illwity of the ¢oryyxate and fin8ts¢ial infonllotiorl irlcluded on the charitsble compattys Mrbsite. le￿$18tiO￿ govonitig the prep•ntion and dissemination Of f]naDcial $t*ments may differ from Iwlatioll in other jurisdictio Small comp*nltt provlslon stattmtht The aotttjal report apFwvrdby thr of th¢ Gharity on 14 Deft adcquat¢ &cGounting record5 ar￿ to prq)are statutory ac¢owits that giv¢ 4 truc 4nd fair view of the a55ets, liabilities, finanGial position and of SuTJShine tnternationaI Arts. You cotistder that Sunshine IntenwtiQTL*I Arts 1$ exeTnpt from the statutory audit requireTnent for the y¢wr. We have not been iJJstiu¢t¢d to Carry out an xudiL or a review of th¢ accounts of Sunslline Int¢rnationa] Arts. Ftsr thi5 reason. w¢ bave not verifled the accuracy or completenu$ of the accounting records or ltif0m￿tiOn attd explanations you have gI￿n to U5 and we do noL thcrefore, exprtss any opinion on thc statutory accounts. 14 December 2023 Page 6 Sullshine International Arts (Registration number: 04544572) Balance Sheet as at 31 March 2023 2023 2022 Note Fixed gJ&ets Tangible asset5 io 690 1.380 Ctsrrettt Y455ets Debtors Cash atbaok and in hattd 326 122,856 123,182 9,636 139,071 12 148,707 Credltors: Amoullts f41littg dut witllin one year 13 52 528 Net curre￿1 888ets 123,130 148.179 Net gssets 123,820 149,559 Funds of the chArlty. Unrestricted Intome funds Urtr¢sttt¢t¢d funds 123,820 149,559 Total fuads 14 123,820 149.559 Thr not69 on pages 9 to 15 fomi an int¢gral part of tb¢5¢ financial statements. Pag¢ 7 Sunshine International Arts (RegistrAtion number: 04544572) Balance Sheet as at 31 Marcb 2023 For the financial year endin8 31 March 2023 the charity was entitled to exemption from audit under seclion 477 of the CompaDi¢8 Act 2006 relating to Small compani¢s. Directorn, r¢spo]tsibilities: The Tn¢mbcrs have not required the ehality to obtaill att audit of its accounts for the y¢8r in questiots io ac¢ordaD¢¢ with section 476. The directors 2cknowl¢dge their r¢8ponsibilitics for complymg with the r¢qu1rtt￿ts of the Aet respect lo ac(xiuntillg records and the preparation of aecouTJts. These finallci￿ ststements have iwn prepared in accordance with the S￿]81 provisions relatin8 to companies subject to the smdl ¢ompwi¢s regim¢ wsthiD Part 15 of th¢ Compani¢8 Act 2006. The financial staiements on pages 7 to 15 were approved by the trustees. and authori5ed for isme on 14 December 2023 and signed on their b¢haif by: Mr R.A. Mababir Tntstee Th¢ notes on pages 9 to 15 foTm an inte￿￿ part of these fin8ncial 8tatements. Pa8e 8 Sunshine International Arts Notes to the Fingncigl StAtements for the Year Ended 31 M4rch 2023 I Charlty sttttus The charity is limited by guarantee, ittCOJPOT*t¢d in England W￿e8. and cojwueotly do¢$ not bave 5hgJ¢ capital. Each of the truste¢5 l5 liabl¢ to contribute an amount not ¢xc¢ediDg £10 toward5 tbe assets of the charity in the event of liquid2tion. The addre55 of its registered office is.. 10 F<her Road London N15 5BA Tbe principal pla¢e of busi￿SS i5.. Styth'o 5 209A Coldharbour Lao¢ London SW9 8RU These fiwia] 51atements were authorised for issue by th¢ ttust¢e8 oll 14 D￿¢￿)b¢r 2023. 2 A¢¢oundng pollele# Summary of signlt]eant aeeounting po]ficies and key a¢¢OUlltlng estlmates The principal accounting policies applied in the preparntion of th¢sc financia] statcments Set out below. These tM)licies have been c0￿1$tentIY applied to the yeArs pr¢sen¢e¢ unless othetvise stats StAteDWnt ofeompllance The fin&n¢ill] statemellts bave been pr¢par¢d in a¢Gordance with Accounting alld Reporting by Charities.. Statement of RcCOll￿cnd￿ Practice (applicable to chat]ti¢s p￿￿illg their accounts ID accordance with th¢ Financial Reportittg Standard applicable in the UK and Republic of IT¢land (FRS 102)) {issued in October 2019) - (Charities SORP (FRS 1021}, the FiTLallcial Reporting Staodard applicable ill the UK and Republic of Irelattd (FRS 1021 aud the Cornpallies Act 2006. Basls of preparntioD Sunshine IntemationLI Arts meets the definitlon of a pllblie benefit entity under FRS 102. Assets and liabilities ar¢ initi￿lY reco8nJsed at historicB] ¢05t or transaction value ullless otherwise stated in the relevattt accoutttin8 policy notes. Gohllg eoll¢¢r Th¢ twstees collsider that there ar¢ no material uncerkdinties about the chan.tys akn'lity to eofttinue &8 a going concern nor any s)￿lfiCallt areas of un¢ertainty that affect the ¢orryillg v￿u¢ ofa88ets held by the eharity. Jncome endowments All in¢orn¢ 15 r¢cogllised once the chan'ty h&8 entitlement to the inrom¢, it 15 probable that the income will be received and the amouTLt ofthc incorne receivable ¢an b¢ rneLsured reliably. Page 9 Sunshine InternationAI Arts Notes to the FlnanciAI Ststements for the Year Ended 31 Mareh 2023 Grants rn¢eivoble Grants are recogJ)ised when tbe chan'ty has an entitlernent to the futtth and ally conth"tions linked to the have been meL Where perfornance conditions are attached to the 8rattt and are yet to be llLeL the income 15 recogtli56d a5 a liability and included on thc balancc sheet as dcfcrrcd incotne to be relea5cd. Expendlture All expendibjre is recognised once there is a le8￿ or cotJstnKtive obli8ètion to that expcndibJr¢, it is pmbable s¢ttleTDent 15 required and thc amount can be mcasured reliably. All costs are allocated to the applicable exp¢TJditltr¢ heading that aggregate similar costs to that category. Where costs ¢gJJnot be dir¢ctly attTibut¢d to parti¢ulaT heading5 they have been allocated on a basis COllSiStent with the use of re50urcB5. with ¢entral sthff ¢05ts all￿at¢d on th¢ ba5)5 of tisDC spBnt, and dcpr¢ciation th3rg¢5 alloGatrd on th¢ w>rtioD of thr &35¢t'5 1&%. Other 5UPtx)rt COSt8 are allocated ba8ed on the spread of staff costs. Charitsbl¢ ¢xp¢nditure Comprises those Costs incurred by the charity in the delivery of its activities aDd service5 for its beneficiaries. It ineludes both cost$ that be Lilocat¢d dJr¢ctly to such activitie8 and those costs of arl indireGt n74ture necessary to support them. 8upport ¢05ts Support cost5 include ccntral fimctions and havc becn allocatcd to activity r05t utcgories on a basis ¢ollsist¢llt with th¢ use of re50urcE5. for ¢x4mplc, a]lo¢ating property fQ5ts by floor Arefis, or per t&pit4 staff costs by the me sp¢llt and oth¢r ¢osts by their usag¢. Governance Costs These inclllde the costs attributable io the charity's compliance with constitution81 and statutory requirements, includiug audii 5trat¢gic Iti4iiageIn¢llt and I￿￿e5 ￿¢¢t￿ aTLd r¢imbursed cAp￿￿. TAxatloD The charity SB conSide￿d to P85s the tests set out in Para￿aph I Schedllle 6 of the Finance Act 2010 alld therefore it rrleets the definition of a charitable wmpany for UK ¢otporaliott taL puwses. Accordingly, the charity is potentially cxempt from taxation in Te$p¢¢t of in¢ome or capttal gains rcceivcd within categorles covered by Cbapter 3 Part I l of the Corpor&tion Tax Act 2010 or SectiOTJ 256 of the Taxatioll of Chargeable Gains Act 1992, to the extent that such income or gain5 are applied exclusively to charitable purposes. TanglbJe thed as8ets Individual fjxed assets costin8 £100.00 or more Are initially recorded at cost. Depreelatloll atsd #mOTti$#tion Dq)retthtioo 1$ piovided ou tangible fiKed a5KtS 50 a5 to wrile off thc Gost or v￿UatiOn, 165s any c5timated rcsidua] value, over their exp¢ct¢d w¢ful eronorniG lif¢ as follows.. Fund ltrncture UTWe5tri¢tsd income fuDds are general fijnds that are available for u8e at the tsw8tees discretion ill fijrtherattce of the objectives of the chan'ty. Page 10 Sunshine International Arts Notes to the FinanciAI Statements for the YeYdT Ended 31 Mar¢h 2023 3 1neDme from donation¥ *nd leg#eSes Unrestrlcted funds General fund$ Grants. including capitsl ￿&￿1&. Grants from other charities 89,938 89,938 Tota] for 2023 89,938 89.938 Total for 2022 155,853 155.853 4 Other In¢om¢ Unrestrlctsd funds GenerAI Total fuNd5 Rental iDcome 9,lJ61 9.06l Total for 2023 9.061 9,061 Total for 2022 6,630 6.630 S Expenditsre on charitable attivities U￿Tr$In¢t¢d rund5 Genera] Totsl funds Note 40,391 39,999 4.164 40,391 39,999 4.164 Allocat&l support costs Gov¢mance ¢o$ts Tot21 for 2023 84,554 84.554 Total for 2022 61.200 61,200 In addition to the expenditure an8]ysed abov< there ar¢ also governance ¢08ts of £4,16412022- £5,028) which T¢late diJY¢tly to ¢haritabl¢ a¢tivitie8. S¢e note 6 foT further d¢tsils. Pag¢ll Sunshine International Arts Notes to the FinaDCiAI Statements for th¢ Y￿r Ended 31 Mareh 2023 6 of governaDce and Jllpport ¢0 Govern*4c¢ ¢08ts Unreitrleted funds Genernl Totsi fondi Ind¢petsd¢ttt extimitter fces (kher fees paid th examinm 4,164 4,164 Total for 2013 4.164 Total for 20Z2 5,028 5.028 7 Trnst¢u remuntr•tlo* ind expttt tknin8 th¢ ye•r th¢ ¢lthrity rn•de the following ¢rw)uctioM with tru&ees'. Mr KA. M*hAblr 8 Inde￿ndent examlner'i remuner•tlo 2023 2022 Other f¢u ¢0 ex4Dthie The examI￿g of t*xoutt(8 ofthy ¥soeii* of th¢ thn.ty Page 12 Sunshitie Internation￿ Arls Notes to the FlnaDci*l Ststements for the Year Ended 31 March 2023 9 Tix*tioD Th¢ ¢h&Tity is a T¢￿stere￿I cbzrity and is th&efore exemM tsxatioD. 10 T8ngible ￿ed Amets Fryrnknrè Attd ¢quiprnent Totil CNt At l April 2022 Ai 31 M4rth 2023 5,672 5,672 5,672 DeprÈel*tlo A¢ l April 2022 Charg¢ for the y¢2r 4,292 4292 690 At 31 March 2023 4.982 4,982 Ne¢ book val￿¢ At 31 March 2023 690 690 At JI Mar¢h 2022 lJ80 1.380 11 Debto 202J 2022 PrcpAyn￿ts Oth¢r debiors 70 250 72 9,564 326 9,636 12 Cub #ttd e*¥h equfv*leDts 202J 2022 Cash 81 baDk 122.856 139071 13 Cr¢dltor•: •mounts fl￿￿% du* vlthln ytlr 20Z3 2022 Other Credito Ac¢nwls (2) 54 528 52 528 Page 13 Sunshine InternationAI Arts Notes to the Flnanclal Statsments for the Yevdr Ended 31 March 2023 14 FuNds B•l*Dee at I Aprll 2022 tottthig Bal*tyt¢ #t 31 Msrch 2013 e￿ende￿] UDrestrlcted fund5 Gett¢r81 68,875 44.163 123,820 *nce at I April 21121 Resollrc ¢yp¢nded B8laDce at 31 Mareh 2022 Unreitricted lllDds Gen¢rn] 29.649 162.493 42.583 149,559 15 Anal￿15 of net a55ets betsvttD fun unrestrkt￿ Total funth #t f4nd5 31 MY4rch Cener41 2023 Tangible fixed ￿ets Currettt assets C￿r￿ryt liabilitics 690 123.182 {52 690 123,182 52 Total net &8Bets 123,820 123,820 Unrestricttyj Total funds at 31 M#rch 2022 Ceneral Tangiblc fixed &ss¢ts cU￿t a55¢ts Current liabilities 1.380 148,707 528 lJ80 148,707 528 Totxl ttet aS5¢ts 149,559 149 J59 Pag¢ 14 Sunshine InternatlonAI Arts Notes to the Flnancfial Stgtements for the YeAr Ended 31 Mareh 2023 16 All81￿1￿ of met fundj At l Aprll 2022 At 31 M*r¢h 2023 Cash at bank and in hand 139071 139.071 Net debt 139,071 At l Aprfl 2021 139.071 At31 M*re 2022 Cash at bonk and in hand 92,192 92.192 Net d¢bt 92,192 92.192 P4g¢15