Chartty R•gi¥tr•ti¢n No. 1123D36 Campany R•gi*¢r•tion No, 06208453 IEngl•nd 4nd WAl••l LIVERPOOL CARNIVAL COMPANY LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 LONSDALE & fvL4RSH CHARTEREDACCOUNTA LIVERPOOL CARNIVAL COMPANY LIMITED LEGALANDADMINISTRATIVE INFORMATION Trustees R Mtsrris M M Morris JCDWells J Buckley D R 8rouditr Chanty Trumbor 1123036 Company number 06208453 R*9l#tèrÈd oifiC• o L￿$￿¥19 & M3i$h 7th Floor Cotton House Liverpo L3 gTX Independent examin•r Lon$d•le & Marsh 7th Floor Cotton House Qld Hall Street L3 9TX LIVERPOOL CARNIVAL COMPANY LIMITED CONTENTS P•g• Tru5tee5' l$POrt IndEk*ndent examinerfs report siaiemenlof financial adivitiès BaLgnce sh98t Noteslo thè financi31 stAlewents 6-10 LIVERPOOL CARNIVAL COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPOR TI FOR THE YEAR ENDED 30 SEPTEMBER 2020 Th¥ Iiustee$ pre$eni I￿1r report and fin8n¢i81 $t8i¥ments for the year ended 30 September 2020. The tinan¢ial $l*emenls have been prep8red In occorOan¢e with the o¢counling polici85 Sèt In no￿ i 10 the financial Slatements and comply the charity s governing documefji the Companie¥ Act 200S a "Attouniiftg and Reporting by cn¥rilits $￿taMent ol R&commen¢ed Pf8¢li¢e 8pplitsble 10 charities preparing their accounts In accordantt with the Financial Rewrting Standard applicable In th* UK and R•publiC ol Ir41aDd IFRS 1021" ias amèndèd for accountin9 penods commencing from 1 January 20161 ObjKtIV95 activities The chanty's objects are lo pul OD a samba paiade in Lwerpool in Ihg sumtner ofg9th ypar The Ituslee5 have paid due regard to widance i$su8d by the Charity Commi$sK)n in deciding what activrties the charity $houl4 undgrtake Achievements and perfomiance Proparabons wer@ und8tway for th8 2020 féslival whèn thÉ 9lobal 0￿￿￿￿k of Coron&virn$ 4vas declared pandemic by i*e Vlorld Health Or9afjisauon In March 202Q. Subsequent 10 this. the UK governNÈnt brought In SIA¢I IO¢kiown me*sure$ 10 ¢oniroi Ine sore8d of Coronavirus. and with the social distancing measures ihal bspre brought In wrth Immediate effect the chanty had no opbon bul lo postpone the 2020 festival uniil 2021. èn prepanny the finanuAI statements lor thè prèv￿￿$ finantsal year. funding for the re-5cheduhd 20Z1 fesLiV?I had already been secure4 from Arts Council England artd Irtym Aw¥rds 4AII wno would require a new schedule of work lor the 2021 festival On￿ govefflmenl guidelines were clear. In addrtion lo this the ¢harity ha¢ b8tn ablt 10 $8¢uro *rntrg¥n¢y funding frorn Arts Covh¢il Enyl8nd which w8$ 10 be u$ed ￿ cover the day lo day running cosis of the charity together with proieci lunding from P Foundation In Ine monins sin¢e the previous fi￿n¢￿1 $iatemenis were prepared the UK government have Imposed lurtner k>dfdowns and there are still social disianung ffleasuies In place as well as reslno*ion5 on both naknoDal ¥nd IDt@rnats¢nal tr$v¥I For Ihasg th¥ truStèèÈ had no optton bul lo postpone the festival once ag?In unlil 2022 The funding alrèady secured as detailed Jbove Included within the $talement tsf finanual aCt￿rtIeS iresiricied funds) ar￿ Will be used ￿ cover the c0$15 of the 2022 festival. The tNstees have SeCtsr￿ furtheremergency ￿nd1rng froffj OCMS Culture Recovery Fund lo be useo io¢over ihp day to dly running casts of thg rharity and they believè that thèy havè SuffiCiÈnt uniastnctèd fund5 for Ihe t2 months The Irusiees are aware that addiiional lundifi9 and sponEorship for th8 2022 festival IS likely to difficuh io altain at the current time and as Such they are conceTriraliDg on ihe popU￿r Iniegr?I parts of tnt f?Siiv81 wni¢h tsn be acnieved 4Vrth th* fvnoing Ihey have receivetr to date They have also iaised ¥d¢thonal fvnus to ¢ov¥r th¥ day to d¥y running costs ol thè charity wa crowd funding and online appea15 The tiustees ol tne Charity would like to their Ihanks ￿ the folbwin9 organisatlons forlheii support Arts Council England Awards 4AII LIVERPOOL CARNIVAL COMPANY LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2020 Flnanci81 review As Èxp181nod morè lully In the achievements and performance section ol th15 rewrt. for 18tter ol th15 rinancial year ihe Var￿￿5 rèstnciions in place as a re5utt ol Corona￿r￿s hav£ had a significant itnp** on th rinan¢ial performance of the charity. The ¢hgrity ietsived Income of £46 099 dunng thi yèar From donation6 and legacies Including £34 300 01 resificied funds which 1¥ Still held by the chaiily ai the year 10 tover *xpendilure to be Incurred In ¢onnediOn wilh the 2022 feSlival. The ¢h8fty Incurred expendituie of SY during thé yèar Induding In excess of £3.000 of roof IÈPailS costs for the library al Looge Lane m Livepool Irom whgrg the ChÈfity runs vanou5 WOfk5hop5 together with v8fiOUS Utilitie5 cos15 lor Ihe library This has iesuiied In a deficit lor the y63r iÈlating to un￿S￿lcted fvDds of £8.754 At thè SLgrt of Ihe year the chanly had an unrestricted fund balan￿ of £9 301 and as such ai Ihe end of tht y*8r Iheie Is an unrestricied fvjnd balance of £547. ioyetherwilh 8 restricted fund balaTr￿ of £Y.300 Notwilhslanding thè Itnpact on the ¢harily as a r8$utt ol tha global outbreèk OF Coronavirus as explainèd more fuiw In the achievement$ and perfomance 5ecuon Df Ihis report. Ihè trUS￿e8 aw of belief Ihal re8fp￿S Itmain at an approprvale level lor the foreseeable future It 15 the pdi¢y of the charity thai ￿nIestricted lunds which *¥vè noi been de&gnaied for a specnfrc usé should e mainiained al a level equivaleni 10 betr￿￿en three and six rnonlh's expendilure The irusiees ConS￿er$ Inai reseryes al this level will ensure that In Ihe event ol ¥ *gnifi¢ant In lufjding. they will be able 1¢ conbnue e charitys current activrties while considÈrgton Is given lo way5 In whi¢h *ddrtioDal funds way be rai$8d This t￿￿1 of 18sep￿ has been maintainad Ihroughout th• yèol. The Irustses h8vF a¥sossèd major risks lowh￿h the tharity 1$ exposed 2nd are satisfied th* Systems are in place lo miligalg exposure tD th8 maiot rrsks StDJcturfjTr govgm*nc• and management The Gharily 1$ ¥ compAny Iimiied by 9uarantes. Thé trus￿&5. who 4re atso the dirfjclors forlhè purpo*• ol company law. and who¥•rwed during the year wsre R Moms Mmmoms JCDWell$ J Buckley D R Broud* Th$ pruslèès of the charity were selected and 8ppoinied on the bags otlheir poianiiai Invofvement In ihe c•mival and for part￿ul>r skills 2nd exporience Ihey have lo thè chsrity Non& of the Irusiees has any beneficia5 Iniarast In Ihe ¢ompèny All of the trustees members cl the Gompany aniy guar8ntee10 coninbu* £1 In ihe evenl of 8 winding up. The Board of TNstsaS meet on 8 r¢yul8r basis io d15CuSS ihe artsvill￿ ol th• chanty. The tru$￿tr8. r8POrt Yl8S8pproved by the Board of Trusi8es. M M Morrj Twsiee Dated 28 June 2021 LIVERPOOL CARNIVAL COMPANY LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIVERPOOL CARNIVAL COMPANY LIMITED I rewrt 10 Ihe IIusi8e5 on my examiftaiion ol th¢ financial statem?nts ol LiV￿rpOOl CarThiYal Company Limit•d Ilhe charity) lor the year ènde¢ 30 SepttmDer 2020. R•gpoDsibllities 4nd ba51$ of report Ihe trusl8eS of the Dharity land a150 Irs directors for the purpose$ ol company you are ra$ponwb* thE prepai3lK&n of lh8 Iinancial 5Lat4m•ntS In accordance with the reouirements of ihÈ Cofflpanies Act 2006 Ilhe 2006A¢ii. Having satisfied mysell Ihat the fjnancial slatèn)enls of the chatily are not required to be audited under Part 16 ol thp 20￿AGI and are eligible lor Independènt e%amin8tion I report In respeclof my exatnin•iion of the chanty s finan¢ial statements carried out under se¢iion 145 ol the Chsrities Act 2011 Ith8 2011 Adl In rying out my examifflation 1 have followed all the applicab￿ Dii¥lions given by Ihe Charity Commission nder se#ion 14515llbl of the 2011 Act Indep9nd¢nt QXominerf$ ¥tatement I nave compieied my exarnination I confirm th* no matter$ have come to my atteTrbon In connecuon wth me ex8min£lion g￿VIng me ¢ause 10 trlieve Ihal In any material r8sr*cl acwunting r￿ordS were noi kept In re5pp¢I Df the ¢hafity a5 by section 388 01 thè 2006 Act. e finan¢i81 statements do not8ccord with iho8e t8cord$. or the financial siaiemenls do not umply wrth the accouniin9 requiremtrnts ol Sed￿n 396 of the 2006 ALt other thsn any r8quirem8nt that the $¢couDls y￿e a true and faifvEvd which 15 not a matter ¢on5id8r8d a$ part ol an Independent ex8min8tion or the financial statements have not been wepared in ¥ccordanc& with th8 method8 and pntKiples ol the ststement of Recommenoed Praciict loi accoun￿n9 an¢ reporting oy chalites applicable io charities preparng their accounts in accoidance wrth the Financial Rtrpornng stsndar¢ applicable In the UK and Recvbil¢ ol Irei¥nd IFRS I021 l ￿ncerns and havè corne across no other fflatte￿ In conneGtson vélth the examination to whih dtawn In thi$ rèport In 0￿er1D $n£ble a proper und8rslanding of the financial st8teTp*ni$ Lon¥dAk & Ua 7th Fkw)r Cctton H015¥• Old Hall Str•èt Liv&wool L3 9TX Daiod. 28 J￿6 2021 LIVERPOOL CARNIVAL COMPANY LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2020 Unroglricted Restricted fundg fund8 Totsi Unresiricled Restncted funds funds 2019 2019 2020 2020 2020 2019 Not•9 from". wtn Donations aDd iagacie¥ InvèStm•n oiTher Income 34.300 45,439 10.139 33.730 43.869 7fA) Total incomt 11.8QO 34.300 46,100 10.899 33,730 44.629 Support cos15 600 9Q¥J Chantab* 8¢tiviies 19.954 19,954 33.730 41.Y1 Total re60ur¢e8 expended 20.554 20,554 33 730 42.241 Net(9x￿n￿itUr•lI1neame lorthe yearl N61 mov•m•nt In fund8 18.7541 34.300 25,54 2,388 2.388 Fund balances al I October 2019 9,301 9,301 6,913 8.913 Fund bolane¢$ al 30 Swt•mb•r 2020 $47 34 300 34.847 9.301 9.301 The staiement of financial aclivilLes indudg5 Jll g8in¥ ￿lSe$ recognised In Iheyear. All incom& and ¥xwnditurè donw from continuing Bclivilies. The $Wlement of fin2ftcial activities also ¢ompi*8 wilh th& r8ouirements for an IDcome and tFpenditure account under thtr C¢mwio$Art2008 LIVERPOOL CARNIVAL COMPANY LIMITED BALANCE SHEET AS A T30 SEPTEMBER 2020 2020 2019 NtX*$ Current a$8•ts Debtors Cash ai bank and In hand 10 3.235 7.318 35.246 26.447 Crtyoittyrs.. amounts falllng due ￿thIn one year Net CL)￿enta$$ets Y.847 9301 Income fun¢Js Restric￿ lufids Unregiricted funds 12 34.300 547 9.301 34 847 9.301 The company ènbtl¢d lo the exernption frorn the audit r4uirèmèni ¢ont8in8d In secbon 47T of the Companies Act 20Ch3. for tre year eThled 30 Sepiember 2020. The dirtctOr5 acknowl8dg8 their respon5ibiliaes lor ensuling thèt thè chanty keeps a￿￿￿tIng record5 which CoM￿Y With section 386 of the Act and lor preparing Iin8n¢iai slaletnenls which 9ive a tiue and lair View ol the srate ol affairs ol the company 3$ 81 Iheend ol IhefiTrafjoal year an¢ ol Ils In¢omin4 iasourees and appl&31ioTr of rèwurts$. InGlu¢ing Ils Income and expènditurè. ftsr the financial ye¥r in accordance with thè rsouir•mènis of 8e¢lion¥ 394 395 and which Oknèth1*8 crynply with the requiremènts of th• CompAni•sAd 20[￿ relating to financi&l statements. $0 lar 83 8pp1Kab￿ to ihe company The member5 hav8 noi rÉquifèd Hle ¢ompany to obtoin en aurfrt of Ils finAfi¢wl ¥tstemgntg for the 5YJr in quèstion In atcordgncg with 8e¢l￿n 476 Th494 fin•n¢k71 6talements have be•n pr4parod in •¢wrd3nce with the provi&ion> ap￿1£3￿1* to compani•# su*ecl lo the small companies witne Thfy fin8n¢i81 *8iaméni$ wefe approved by th• TNst*•A on 28 Juh¥ 2021 M M Morris Tru$t8t Comp•ny Rog1$trnllo￿ 140. 06208453 LIVERPOOL CARNIVAL COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEM8ER 2020 Accounllng pollc5ss Charity information Liv*Tpool Camival Company Lirniièd is a pr￿ate company limited by guarani*e Incorporated In England and Walos Thè reuistarod officè is Lon5dÈi¥ & Marnh, 7th FhJor Corton House. Hall Sirtet. Liv4rpool L3 9TX 1.1 A¢¢ounting Gonvtrntion The financial statefflenis ￿ve been prepared In aCcorda￿e with the charity's IgovemiTrg documentl. the Companie5 A¢1 2006 and 'Ac¢ovniing and Reportlng by Chanlies Statement of Recommended Practice applicable 10 ch*rilies pre￿[ing their 3¢COUntS In accordance with the Financial Reporbng Stand$rd appli¢8ble In he UK Republic of Iroland IFRS 1021 i¢fteciive 1 January 20191- The ch8rity Is a Public Bènefit Entity a5 defined by FRS 102. The cnanty has taken 8dwant4e ol Ihe proviSK)ns In Ihe SORP for ch&rths 8pplyin9 FRS 102 Update Bulletin 1 not to p￿pare a Stslemeni of Cash Flthws The financial siaiements are prepared ifi 51erling. which Is the fvnctron&l rurrency ollhe ch?nly Monetary amounts In these financial Sl*ementsare (Oun¢ed to thg near881 £. The finanwi statemellt5 have been prepared under the hi$toncal cost convènlioTr Th8 pr￿1¢¥)51 ?GCOuntihg policies adopted are below 1.Z Going ¢on¢•rn Not wirhsianding the current silu•1￿￿ ￿rrounding the gbb81 outbreak ol Coronavirts$ and Its Impact on the Chantab￿ 2thivilies of the charity and as explarned more fully In the trusiee¥' rewry al the time of approvin9 thg financial ststements the tru$iee5 nave a reasonab￿ exp¢¢ialion that the charity ha8 ad8quaie resour¢e5 10 continue In oper8bonal existence for th& loresèpable futurè Tnus the trustees continue tO¥aopi thé 4¢xng ¢oncem bssis ol a￿￿tINg In prÈp3riDg the financial Statements 1.3 Charftable t￿nd Unfeslncted fun(ts 8re avoilable foi use al thg d19C￿lI0n of thg InJste•3 In furth?rance of their ¢hanlab obiectivéÈ Resiriued funds are subie¢i to specrfic conditions by donors #8 lo how they may * useo. The purposes and uses of the (•stricted funds are sel ovi In the no￿# to the financial statemen1¥ Endo4vmeni funds are $ubieci 10 specifi¢ condibons ty d￿Or$ Ih$i the c8pI?I mu$1 be m8iniained by the ¢h¥rity 1.4 Incom• Income Is rawgni90d when Ihg chorty Is I￿allY eniilled 10 Il aft&r any perform•nre conditions have been m*t. Ihe AmpuTrtS Can be me¥¥ured reliably. 8nd 11 IS orobable Inat Incoma will recèiv•d Ca$h donabons arè ￿C05n1￿94 on r0¢eipi Other don¥lions artr iecognised once Ihe ¢hafily h¥$ been rroblied of the donalron unless ptrform¥fic& condibons require aèferral of the amount Inwm• tsx recover8ble In r*aiion to Jonath)ns receiVSQ under GTrft￿￿ or de&d$ ol Covenani Is recognisgd JI thè time ol the donaton. L8gec*s are recognised on receipt or Oihetwise il the charpw has tsen notifEd of an Impending distribution. the anM)uni 15 known and weipt rs expe¢ted 11 thè étpiount 18 not known thÈ legacy ts Ireaied as a CDniiTryertas*i LIVERPOOL CARNIVAL COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2020 Aecountlng pollcl•• IContinu4dl 1.5 expgDditurg Resources expended are Includéd in lh8 si8iemeni ol Financ￿1 Activit￿5 cn an XcrL￿1￿ b8*$. ￿￿uSive ol any VAT ih311s not recoverable. 1.6 Cash and cash equlvalentv Casn and cash equivalents Includè C8Sh In n8n4. deposits held at Gall wilh banks. Other snort.teim I￿￿1￿ In¥e51nents with original matuniies of th￿e month5 or less. b8nk overdrafis Bank overdiafts are shown wlhin boriowings In currant ILwbilrfièS. 1.7 Fifiancial in6trumentS The chariiy elected ￿ appty thè PIOvi*ong of Secih)n 11 Bawc Financial Instrumènts. and Secbon 12 'Dther Financi* Instruments issues. of FR$ 102 tD all ol its financial In51rumenls Fmanual InslrumeTrts are re¢oyfti$ed In the chanws balaTr￿ sheet 4vhen the th8rty becomes party lo the contrACtual provISI￿5 ol the Inslrumenl. Finanual asset5 and Iiabilitses ale ollsel. with Ine net amounts presented In ihe fin3nriai SLatements. ¥¥hen there Is a leg¥1ty tnfor¢e3ble riahl io sel off the Feco9nised amounts and there IS an Intenti￿ to sett* on 8 nel basis or lo realise the as$9t and $ettie the liability simultaneou￿Y Basie flnancial assets Basic finaneial assets. whKh Include deblors and ¢$$h and b3nk balanTrs are Inrti¥lly me8sured al Irans?c￿0n price Induding tran$8Ction costs and are subs8qUéntly carried at amortised cost using th effeciive Inieresl rne1h￿ unles$ the arrangèment CDnsiilUtes a frnaDcin9 Irans¥¢iiort. Whe￿ the ba.isaclion Is measured ai tne preseni value ol the future re¢tlPlS diSCOunied at a fflaTkel rate ol inieresi Fin3ncEI assets cla55ffjied as receiv¥bl¥ within one year are not atr7orbsed 8a$l¢ ftnAftclAI 112bl1lt￿S Basic 'inancial 113bliiies. Including creOrtty6 8nd Dank loans gre inilrdlly reG(¥nised ai Iran$a¢lK7n pri unless the airangement con$titutts a financin9 Iransaciion. wher9 tho dèbt Insirum•nt Is measure(l al Ih pie5eDi value ol Ihe future payments dis¢4unied ai a market ra￿ ol Intere31. Finan¢wl liablit*s as pay3ble within one year are noi amorvsed. Trade creditors are obligabon¥ to p$y ftsr 9oods or S•Nice5 that have been xquif6d In the ordinary course ol operaiions trom SLpplioFs. Amounts pay8ble or8 c1èX9rfied as cuirenl liqknlibes rf paytn8Tht IS du• Kwlhin ortt yeaf or less Dereco9ftltion of finan¢iil li•hiliti• Financial I￿￿1￿11e5 are Qerewgnised when the chanly5 coniraciuai Obligaions tip1￿ w are disGhar9ed or cancelled ¢rld¢al a¢¢ountlng estlmaie8 an¢J ludg•m•nts In the application of the ch8rity's Jccounling pol￿1&s. th• trustees are requirgd to makÉ I￿ernents é$lim?ia$ 888umpions about the caFryiDg amouDI ol a¥$ei¥ and IIAtrfiibes ihat are not re?dily 8pp3rent from Other sour¢ts The $Slimates and assoCia￿a assumpt￿n$ are b$sed on historical expeneoca an Olherfactors Ibai a￿ considered lo be re4ev?nl Aclvai re5ullS may differlrotn these esbmaits The eslirrwles undèrfying 8S8umptions are reviwed on 3n ongDing basig R•vi&on$ to e￿o￿ntIng esLmates are rewnise