Company registration number: 04544572 Charity registration number: 1119236
Sunshine International Arts
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2025
CPP, Chartered Accountants 79 Essex Road Islington London N1 2SF
Sunshine International Arts
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 5 |
| Accountants' Report | 6 |
| Balance Sheet | 7 to 8 |
| Notes to the Financial Statements | 9 to 16 |
Sunshine International Arts
Reference and Administrative Details
Trustees Mr R.A. Mahabir Ms D Bestwick Ms A Brown Mr S Swann Ms L Samuels Ms C O'Connor Ms S Ruddok Mr R J Knights Charity Registration Number 1119236 Company Registration Number 04544572 The charity is incorporated in England and Wales. Registered Office 10 Falmer Road London N15 5BA Principal Office Studio 5 209A Coldharbour Lane London SW9 8RU Independent Examiner CPP, Chartered Accountants 79 Essex Road Islington London N1 2SF
Page 1
Sunshine International Arts
Trustees' Report
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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 2015).
Objectives and activities
Objects and aims
Sunshine International Arts (S.i.A), based in South London, is one of the leading artistic, educational and production carnival companies. The mission of S.i.A is to empower emerging artists and arts organisations across all disciplines in their creative lives and professional/organisational development and to deliver high quality culture, carnival and arts projects, inform and educate local and national communities, Children and Young People (CYP), Early learning and their families, freelancers and the public about the 'Art of Carnival’ and Culture. Our vision is to create work that is the haute couture of carnival arts which is challenging in its vision and content. We are committed to building long-term relationships that empower those with whom we work, and to create the foundations of a legacy in carnival arts.
Achievement and performance
During this period, the charity focused on strengthening local and regional partnerships, supporting emerging freelance artists, and delivering a diverse range of carnival and cultural programmes. S.i.A also reviewed and refined internal operations to ensure long-term sustainability and build a lasting legacy for the organisation.
Regular programming continued throughout the year, including cultural and carnival activities across schools, colleges, and community settings. Our Early Learning work with children aged 0-5 and their families remains a central strand of our local engagement.
From March 2024, S.i.A further developed its outreach programme ‘Think Local’ and successfully secured an extension of Arts Council England National Portfolio Organisation (NPO) funding through to 2027. This ongoing support enables us to continue inspiring the next generation through the Art of Carnival and Traditional Folklore.
We also strengthened collaboration with local partners and consortiums to enhance fundraising capacity and reduce financial risk. The charity managed its finances prudently during 2024-25, reviewing operating costs, reducing expenditure where possible, and identifying new savings. A sustainability policy was introduced, embedding recycling and environmental responsibility across all workshops and productions.
S.i.A remained an active member of the Stockwell, Vassall and Coldharbour Ward, working with Lambeth partners to deepen local engagement and expand our community arts offer. We broadened our outreach strategy nationally, delivering workshops to schools and community groups while continuing to grow our early learning provision.
The Artistic Director and artists also led educational talks and workshops on carnival history in schools and colleges, contributing to our ongoing Mas Camp educational programme. A new Carnival Exhibition was also developed to celebrate and share the cultural heritage and history of the Caribbean Carnival.
The charity is run by Ray Mahabir who has received £45,920 in respect of the work he performed during the year.
Page 2
Sunshine International Arts
Trustees' Report
Public benefit
In line with its charitable objectives, S.i.A continues to promote the education of the public in carnival, culture, the arts, and community cohesion. The trustees are confident that the activities undertaken during the year — and those planned for the future — directly support these aims and provide clear public benefit.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Financial review
During the year ended 31 March 2025, incoming resources showed an increase of £15k from the period ended 31 March 2024. Project costs showed aa decrease of £7k for the same period. This contributed to net outgoing resources for the year of £5,053 which has reduced the retained reserves in the charity. The Arts Council continued to be the main source of funding for the charity, contributing £76,380 during the year. In addition, the charity secured funding totalling £18,697 from various sources. The charity is also continuing to apply for funding from regular supporters as well as actively seeking new sources of funding.
Policy on reserves
The reserves of the charity represent the retained excess of grants received less costs allocated to specific projects at the end of the year. The trustees believe that a satisfactory level of free reserves for the charity at present is six months' core expenditure, excluding depreciation. This suggests reserves of £64,000 (2024: £64,000).
Principal funding sources
During the period, funding was principally received from the Arts Council (£76,380). Other funding came from LCF Funding (£5,000), Max Roach (4,000), Co Create Funding (2,000), Eastbourne Carnival (£1,552), Brockwell Live (£1,500), various workshops (£1,692) and other project grants totalling (£2,953). The charity also raised a further £27,650 from hiring out the centre
The trustees review the Reserves Policy annually when the financial statements are agreed.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Mr R.A. Mahabir Ms D Bestwick Ms A Brown Mr S Swann Ms L Samuels Ms C O'Connor Ms S Ruddok Mr R J Knights
Page 3
Sunshine International Arts
Trustees' Report
Structure, governance and management
Nature of governing document
The charity is a company limited by guarantee as defined by the Companies Act 2006. The charity is governed by the Memorandum and Articles of Association dated 25 September 2002 (amended 23 August 2006). It was registered as a charity on 16 May 2007.
Recruitment and appointment of trustees
New trustees are appointed through general meetings held by existing trustees. Full training is provided to new trustees, this includes where necessary formal training to ensure the new trustee understands the duties and responsibilities of a trustee. Recruitment is by personal contact. The overriding requirement for all trustees is that they must be in sympathy with the charity’s objectives and activities and are able to offer time and skills to support the work at a strategic level.
Organisational structure
The day-to-day administration of the charity is undertaken by Ray Mahabir whose duties include preparing the various workshops and events and sourcing and purchasing the materials and professionals’ services required to run the workshops.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. A risk register has been set up and is maintained by the trustees. This is used to identify significant risks in order for action to be taken to mitigate them.
Reference and Administrative Details
| Charity Registration Number: | 1119236 |
|---|---|
| Company Registration Number: | 04544572 |
| The charity is incorporated in England and Wales. | |
| Registered Office: | 10 Falmer Road |
| London | |
| N15 5BA | |
| Principal Office: | Studio 5 209A |
| Coldharbour Lane | |
| London | |
| SW9 8RU | |
| Independent Examiner: | CPP, Chartered Accountants |
| 79 Essex Road | |
| Islington | |
| London | |
| N1 2SF |
Page 4
Sunshine International Arts
Trustees' Report
Statement of trustees' responsibilities
The trustees (who are also the directors of Sunshine International Arts for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr R.A. Mahabir Trustee
Page 5
Chartered Accountants' Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of Sunshine International Arts for the Year Ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sunshine International Arts for the year ended 31 March 2025 as set out on pages 7 to 16 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Sunshine International Arts, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Sunshine International Arts and state those matters that we have agreed to state to the board of directors of Sunshine International Arts, as a body, in this report, in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sunshine International Arts and its board of directors as a body for our work or for this report.
It is your duty to ensure that Sunshine International Arts has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and of Sunshine International Arts. You consider that Sunshine International Arts is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Sunshine International Arts. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Date:.............................
Page 6
Sunshine International Arts
(Registration number: 04544572) Balance Sheet as at 31 March 2025
| Note Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand 12 Creditors: Amounts falling due within one year 13 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 15 |
2025 £ - 300 101,936 102,236 (4,532) 97,704 97,704 97,704 97,704 |
2024 £ 326 315 102,197 |
|---|---|---|
| 102,512 (81) |
||
| 102,431 | ||
| 102,757 | ||
| 102,757 | ||
| 102,757 |
The notes on pages 9 to 16 form an integral part of these financial statements. Page 7
Sunshine International Arts
(Registration number: 04544572) Balance Sheet as at 31 March 2025
For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 7 to 16 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
.........................................
Mr R.A. Mahabir Trustee
The notes on pages 9 to 16 form an integral part of these financial statements. Page 8
Sunshine International Arts
Notes to the Financial Statements for the Year Ended 31 March 2025
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
The address of its registered office is: 10 Falmer Road London N15 5BA
The principal place of business is: Studio 5 209A Coldharbour Lane London SW9 8RU Authorised for issue date
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Sunshine International Arts meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 9
Sunshine International Arts
Notes to the Financial Statements for the Year Ended 31 March 2025
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £100.00 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Furniture & equipment 25%, straight line.
Page 10
Sunshine International Arts
Notes to the Financial Statements for the Year Ended 31 March 2025
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
3 Income from donations and legacies
| Grants, including capital grants; Grants from other charities Total for 2025 Total for 2024 4 Other income Rental income Total for 2025 Total for 2024 |
Unrestricted funds General £ 95,077 95,077 89,593 Unrestricted funds General £ 27,650 27,650 17,740 |
Total funds £ 95,077 |
|---|---|---|
| 95,077 | ||
| 89,593 | ||
| Total funds £ 27,650 |
||
| 27,650 | ||
| 17,740 |
Page 11
Sunshine International Arts
Notes to the Financial Statements for the Year Ended 31 March 2025
5 Expenditure on charitable activities
| Note Allocated support costs 6 Governance costs 6 Total for 2025 Total for 2024 |
Unrestricted funds General £ 27,980 51,003 3,828 82,811 82,502 |
Total funds £ 27,980 51,003 3,828 |
|---|---|---|
| 82,811 | ||
| 82,502 |
In addition to the expenditure analysed above, there are also governance costs of £3,828 (2024 - £4,106) which relate directly to charitable activities. See note 6 for further details.
6 Analysis of governance and support costs
Governance costs
| Independent examiner fees Other fees paid to examiners Total for 2025 Total for 2024 |
Unrestricted funds General £ 3,828 3,828 4,106 |
Total funds £ 3,828 |
|---|---|---|
| 3,828 | ||
| 4,106 |
7 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Mr R.A. Mahabir
Mr R.A. Mahabir received remuneration of £45,920 (2024: £45,920) and £Nil (2024: £Nil) of expenses were reimbursed to Mr R.A. Mahabir during the year.
At the balance sheet date the amount due Mr R.A. Mahabir was £Nil (2024: £Nil).
Page 12
Sunshine International Arts
Notes to the Financial Statements for the Year Ended 31 March 2025
8 Independent examiner's remuneration
| 8 Independent examiner's remuneration |
||
|---|---|---|
| Other fees to examiners Examination-related assurance services All other services |
2025 £ 1,200 2,628 3,828 |
2024 £ 1,200 2,628 |
| 3,828 |
9 Taxation
The charity is a registered charity and is therefore exempt from taxation.
10 Tangible fixed assets
| 10 Tangible fixed assets | ||
|---|---|---|
| Cost At 1 April 2024 At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 |
Furniture and equipment £ 5,672 5,672 5,346 326 5,672 - 326 |
Total £ 5,672 |
| 5,672 | ||
| 5,346 326 |
||
| 5,672 | ||
| - | ||
| 326 |
Page 13
Sunshine International Arts
Notes to the Financial Statements for the Year Ended 31 March 2025
11 Debtors
| Prepayments Other debtors 12 Cash and cash equivalents Cash at bank 13 Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals |
2025 £ 50 250 300 2025 £ 101,936 2025 £ 1,507 2,935 90 4,532 |
2024 £ 65 250 |
|---|---|---|
| 315 | ||
| 2024 £ 102,197 |
||
| 2024 £ - (1) 82 |
||
| 81 |
14 Commitments
Other financial commitments
Operating Lease
The total amount of other financial commitments not provided in the financial statements was £33,000 (2024 - £32,250).
Page 14
Sunshine International Arts
Notes to the Financial Statements for the Year Ended 31 March 2025
| 15 Funds Unrestricted funds General Unrestricted funds General |
Balance at 1 April 2024 £ 29,808 Balance at 1 April 2023 £ 43,773 |
Incoming resources £ 122,727 Incoming resources £ 107,354 |
Resources expended £ (54,831) Resources expended £ (48,370) |
Balance at 31 March 2025 £ 97,704 |
|---|---|---|---|---|
| Balance at 31 March 2024 £ 102,757 |
16 Analysis of net assets between funds
| Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 102,236 (4,532) 97,704 Unrestricted funds General £ 326 102,512 (81) 102,757 |
Total funds at 31 March 2025 £ 102,236 (4,532) |
|---|---|---|
| 97,704 | ||
| Total funds at 31 March 2024 £ 326 102,512 (81) |
||
| 102,757 |
Page 15
Sunshine International Arts
Notes to the Financial Statements for the Year Ended 31 March 2025
17 Analysis of net funds
| 17 Analysis of net funds | ||
|---|---|---|
| Cash at bank and in hand Net debt Cash at bank and in hand Net debt |
At 1 April 2024 £ 102,197 102,197 At 1 April 2023 £ 122,856 122,856 |
At 31 March 2025 £ 102,197 |
| 102,197 | ||
| At 31 March 2024 £ 122,856 |
||
| 122,856 |
Page 16
Sunshine International Arts
Detailed Statement of Financial Activities for the Year Ended 31 March 2025
| Income and Endowments from: Donations and legacies (analysed below) Other income (analysed below) Total income Expenditure on: Charitable activities (analysed below) Other expenditure (analysed below) Total expenditure Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2025 £ 95,077 27,650 122,727 (82,811) (44,968) (127,779) (5,052) (5,052) 102,756 97,704 |
Total 2024 £ 89,593 17,761 |
|---|---|---|
| 107,354 | ||
| (82,502) (45,914) |
||
| (128,416) | ||
| (21,062) | ||
| (21,062) 123,819 |
||
| 102,757 |
This page does not form part of the statutory financial statements. Page 17
Sunshine International Arts
Detailed Statement of Financial Activities for the Year Ended 31 March 2025
| Donations and legacies Grants - other agencies Other income Rental income Other income Charitable activities Direct costs Trustees remuneration Trustees NIC (Employers) Bank interest payable Sundry expenses Customer entertaining (disallowable for tax) Accountancy fees Other expenditure Rent Rates Light, heat and power Insurance Repairs and renewals Telephone and fax Computer software and maintenance costs Printing, postage and stationery Travel and subsistence Bank charges Depreciation of office equipment |
Total 2025 £ 95,077 95,077 27,650 - 27,650 (27,980) (45,920) (5,081) (2) - - (3,828) (82,811) (32,250) (3,545) (4,695) (578) (246) (2,940) (156) (42) (88) (102) (326) (44,968) |
Total 2024 £ 89,593 |
|---|---|---|
| 89,593 | ||
| 17,740 21 |
||
| 17,761 | ||
| (34,132) (40,000) (4,264) - (190) (88) (3,828) |
||
| (82,502) | ||
| (31,000) (3,473) (3,395) (549) (3,538) (2,721) (154) (11) (432) (277) (364) |
||
| (45,914) |
This page does not form part of the statutory financial statements. Page 18