REGISTERED COMPANY NUMBER: 07484712 (England and Wales)
REGISTERED CHARITY NUMBER: 1142025
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2023
for
Fox Carnival Ltd
Clay GBP Ltd
St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN
Fox Carnival Ltd
Contents of the Financial Statements
for the Year Ended 31 December 2023
----- Start of picture text -----
Page
Reference and Administrative Details 1
Report of the Trustees 2 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 13
Detailed Statement of Financial Activities 14
----- End of picture text -----
Fox Carnival Ltd
Reference and Administrative Details
for the Year Ended 31 December 2023
TRUSTEESF M Hawthorne
C Salmon
A George-Samuels
J Constantine
C Barnett
REGISTERED OFFICESt Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN
REGISTERED COMPANY NUMBER 07484712 (England and Wales)
REGISTERED CHARITY NUMBER 1142025
INDEPENDENT EXAMINERClay GBP Ltd
St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN
Page 1
Fox Carnival Ltd
Report of the Trustees
for the Year Ended 31 December 2023
TheBoardofTrusteesispleasedtopresentit'sreporttogetherwiththeFinancialStatementsofthecharitablecompanyforthe year
ended 31 December 2023.
OBJECTIVES AND ACTIVITIES
Thecharitablecompany'sobjectivesarethepromotionandadvancementofsteelbandandcalypsomusic,includingperforming at
events of cultural significance; and also strengthening community cohesion by holding workshops and classes to all members of society.
ACHIEVEMENT AND PERFORMANCE
Fox/UFO’syearstartedwithseriesofperformances,themajoronebeingtheLondonNewYear’sDayparadewherewe represented
Londontoaninternationalaudienceof40millionpeopleonline.Additionallypeoplelinedthestreetstowatchthemusic and
performance of different acts. We were described by the organisers as one of the most popular with the audience.
TheyearcontinuedasmanygigsincludingengagingwithmanydifferentcommunitiesfromtheHongKongChinesecommunityto the
Windrushcommunity.OnWindrushdayweputonaseriesofperformancesbringingtogetherpeople,demonstratingmusicfrom the
CaribbeanviatheSteelpansowewereabletoshowexactlywhattheinstrumenthasbroughttoUKandit’simportantrelevance in
music.
Wetookpartinseveralmarathonsentertainingthecrowdandencouragingtherunnerswhowereverypleasedtohearmusicat our
“waterpoint.“For one of these we made a stronglink with Chain Of Hope charitywho operateon the hearts of small children.This link
proved to be a great charityone where we were able to later engage in more concertsand performancesto supporttheir charity, which
does such important work in healthcare.
One of the main highlightsof the year was been invited to represent UK in Tunisiaat a carnivalin Hammamet.We took a large group for
thisandperformedinternationallytoadiverseaudience.WeengagedwithlocalstoshowthemtheUKmusicviatheTrinidad steel
drum and we took workshops for anyone who wanted to join attracting children and adults.
Another highlight was taking part in Notting Hill carnivalwhere we managed to take a truck on the road full of players and perform to an
audienceof 2 millionpeopleover two day period.This taught our playersand participantsmany skillsfrom performanceto equipping a
truck to art and design to logistics.
The Queen’sJubileeprovideda great opportunityfor a series of concertsin the publicarena where we broughtmusicand performance
to crowds in Ealing and LBHF in public grounds where anyone could join.
AsnumbersofparticipantsgreatlyincreasedwiththenewprojectinJuly-wemanagedandputinplacemorespaceforpeople who
struggledwithdisabilityorillness.Asaresultwereabletoincludeparticipantswithmentalhealthissues,aswellasautism and
life-shortening lung disease.
One of the greatthingswasthis yearbeingable to earn charityincomewithouthavingto applyforany grandfundingso in a sense we
were truly self-sufficient which is a big step forward for the charity and we look forward to building on this in the following year.
FINANCIAL REVIEW
Thetrusteeshaveareasonableexpectationthatthecharitywillcontinueinexistencefortheforeseeablefutureandhave, therefore,
used the going concern basis in preparing the financial statements.
The charityis dependentupon donationsfrom membersof the general public,from businessassociates,and from incomegenerated by
events.Incomeduring the year was £36,248(2022 - £26,190)which is a increasecomparedto prior year, but is consistentwith the level
of expenditure of £30,277 (2022 - £26,626) on charitable activities for the year.
Thecharityiscommittedtomaintainingapracticalbalanceofreservesconsistentwithfutureoperatingcostsandabilityto have
available funds to support short term requirements.
FUTURE PLANS
The charity adopts a cautious and sustainable expenditure policy to support activities in pursuit of it's objectives.
Page 2
Fox Carnival Ltd
for the Year Ended 31 December 2023
Report of the Trustees
STRUCTURE, GOVERNANCE AND MANAGEMENT
FoxCarnivalLtdis a charitablecompanyby guarantee.Thecharitynumber,companynumber,presentTrustees(beingDirectorsof the
Company)are providedon the Legaland AdministrativeInformationPage.TheTrusteesare alsoDirectorsforthe purposeof company
law.
Approved by order of the board of trustees on 16 September 2024 and signed on its behalf by:
C Salmon - Trustee
Page 3
Independent Examiner's Report to the Trustees of
Fox Carnival Ltd
Independent examiner's report to the trustees of Fox Carnival Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youareresponsiblefor the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Havingsatisfiedmyselfthat the accountsof the Companyare not requiredto be auditedunder Part16 of the 2006 Act and are eligible
forindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccountsascarriedoutunderSection145of the
CharitiesAct2011('the2011Act').IncarryingoutmyexaminationIhavefollowedtheDirectionsgivenbytheCharity Commission
under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I havecompletedmy examination.I confirmthatno mattershavecometo my attentionin connectionwiththe examinationgiving me
cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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 havenoconcernsandhavecomeacrossnoothermattersin connectionwiththeexaminationtowhichattentionshouldbe drawn in
this report in order to enable a proper understanding of the accounts to be reached.
Christopher Heeley FCA
Clay GBP Ltd
St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN
17 September 2024
Page 4
Fox Carnival Ltd
Statement of Financial Activities
for the Year Ended 31 December 2023
|
|
2023 |
2022 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
INCOME AND ENDOWMENTS FROM |
|
|
|
Donations and legacies |
|
36,248 |
26,190 |
EXPENDITURE ON |
|
|
|
Charitable activities |
|
|
|
Charitable Activities |
|
30,277 |
26,626 |
NET INCOME/(EXPENDITURE) |
|
5,971 |
(436) |
RECONCILIATION OF FUNDS |
|
|
|
Total funds brought forward |
|
4,306 |
4,742 |
TOTAL FUNDS CARRIED FORWARD |
|
10,277 |
4,306 |
CONTINUING OPERATIONS |
|
|
|
All income and expenditure has arisen from continuing activities.
There were no other recognised gains or losses other than those stated above.
The attached notes form part of these financial statements.
The notes form part of these financial statements
Page 5
Fox Carnival Ltd
Balance Sheet
31 December 2023
2023
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
6
1,141
CURRENT ASSETS
Cash at bank
10,576
CREDITORS
Amounts falling due within one year
7
(1,440)
NET CURRENT ASSETS
9,136
TOTAL ASSETS LESS CURRENT LIABILITIES
10,277
NET ASSETS
10,277
FUNDS
8
Unrestricted funds
10,277
TOTAL FUNDS
10,277 |
2022
Total
funds
£
1,538
3,428
(660) |
|
2,768 |
|
4,306 |
|
4,306 |
|
4,306 |
|
4,306 |
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006fortheyear ended
31 December 2023.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyearended31December2023 in
accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)ensuringthatthecharitablecompanykeepsaccountingrecordsthatcomplywithSections386and387oftheCompanies Act
2006 and
(b)preparingfinancialstatementswhichgive a true and fair viewof the stateof affairsof the charitablecompanyas at the end of
each financialyear and of its surplusor deficitfor each financialyear in accordancewiththe requirementsof Sections394 and
395andwhichotherwisecomplywiththerequirementsoftheCompaniesAct2006relatingtofinancialstatements,sofar as
applicable to the charitable company.
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitablecompaniessubjectto the
small companies regime.
The financialstatementswere approvedby the Board of Trustees and authorisedfor issue on 16 September 2024 and were signed on its
behalf by:
C Salmon - Trustee
The notes form part of these financial statements
Page 6
Fox Carnival Ltd
Notes to the Financial Statements
for the Year Ended 31 December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
a) Basis of preparation
ThefinancialstatementshavebeenpreparedinaccordancewiththeAccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicablein the UK and Republicof Ireland(FRS 102 - effective1 January2015)- (CharitiesSORPFRS 102),the Companies Act
2006 and the Charities Act 2011.
ThecharitablecompanymeetsthedefinitionofapublicbenefitentityunderFRS102.Assetsandliabilitiesare initially
recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
b) Going Concern
Thetrusteesconsiderthattherearenomaterialuncertaintiesaboutthecharitablecompany'sabilitytocontinueasa going
concern.Thetrusteesdonotconsiderthatthereareanysourcesofestimationuncertaintyatthereportingdatethathave a
significantriskofcausingamaterialadjustmenttothecarryingamountsofassetsandliabilitieswithinthenext reporting
period.
c) Accounting policies and estimates
Theaccountspresentatrueandfairviewandnochangeshavebeenmadetoaccountingestimatesandpoliciesduring the
reporting period. No material prior year errors have been identified in the reporting period.
d) Recognition of Income
Incomeis recognisedwhenthe charityhas entitlementto the funds,any performanceconditionsattachedto the income have
been met, it is probable that the income will be received and that the amount can be measured reliably.
Incomefromgovernmentandothergrants,whether"capital"grantsor"revenue"grants,isrecognisedwhenthecharity has
entitlementto the funds,any performanceconditionsattachedto the grants have been met, it is probablethat the income will
bereceivedandtheamountcanbemeasuredreliablyandisnotdeferred.Incomereceivedinadvancefortheprovision of
specified service is deferred until the criteria for income recognition are met.
e) Grants and donations
Donatedprofessionalservicesanddonatedfacilitiesarerecognisedasincomewhenthecharityhascontrolovertheitem or
receivedthe service,any conditionsassociatedwith the donationhave been met, the receiptof economicbenefitfrom the use
bythecharityoftheitemisprobableandthateconomicbenefitcanbemeasuredreliably.Inaccordancewiththe Charities
SORP(FRS102),volunteertimeisnotrecognisedsorefertothetrustees'annualreportformoreinformationabout their
contribution.
On receipt,donatedgifts,professionalservicesand donatedfacilitiesare recognisedon the basisof the valueof the gift to the
charitywhichistheamountthecharitywouldhavebeenwillingtopaytoobtainservicesorfacilitiesofequivalent economic
benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
f) Interest receivable
Interestonfundsheldondepositisincludedwhenreceivableandtheamountcanbemeasuredreliablybythecharity;this is
normally upon notification of the interest paid or payable by the bank.
g) Fund accounting
continued...
Page 7
Fox Carnival Ltd
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
1. ACCOUNTING POLICIES - continued
Basis of preparing the financial statements
Unrestrictedfundsareavailabletospendonactivitiesthatfurtheranyofthepurposesofcharity.Designatedfunds are
unrestrictedfundsofthecharitywhichthetrusteeshavedecidedattheirdiscretiontosetasidetousefora specific purpose.
Restrictedfundsare donationswhichthe donorhas specifiedare to be solelyusedforparticularareasofthe charity'swork or
for specific projects being undertaken by the charity.
h) Expenditure and irrecoverable VAT
Expenditureis recognisedoncethereis a legalor contractiveobligationto makea paymentto a thirdparty,it is probable that
settlementwillberequiredandtheamountoftheobligationcanbemeasuredreliably.Expenditureisclassifiedunder the
following activity headings:
•Costs of raising funds compriseof trading costs and the costs incurred by the charitablecompanyininducing third parties to
make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
•Expenditureoncharitableactivitiesincludesthecostsofdeliveringservicestofurtherthepurposesofthecharityand their
associated support costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
i) Allocation of support costs
Supportcostsare thosefunctionsthat assistthe workof the charitybut do not directlyundertakecharitableactivities. Support
costsincludebackofficecosts,finance,personnel,payrollandgovernancecostswhichsupportthecharityandit's activities.
These costs have been allocated between cost of raising funds and expenditure on charitable activities.
j) Operating Leases
Rental charges are charged on a straight line basis over the term of the lease.
k) Tangible Fixed Assets
Itemsofequipmentarecapitalisedwherethepurchasepriceexceeds£1,000.Depreciationisprovidedatratescalculated to
writedownthe costof each assetto its estimatedresidualvalueoverits expectedusefullife.The depreciationratesin use are
as follows:
- Office furniture and equipment - 25% straight line
- Computer - 20% straight line
Other fixed assets - 50% straight line
I) Debtors
Tradeandotherdebtorsarerecognisedatthesettlementamountdue.Prepaymentsarevaluedattheamountprepaidnet of
any trade discounts due.
m) Cash at bank and in hand
Cash at bank and cashin hand includescashand shortterm highlyliquidinvestmentswitha shortmaturityof three months or
less from the date of acquisition or opening of the deposit or similar account.
n) Creditors and provisions
continued...
Page 8
Fox Carnival Ltd
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
1. ACCOUNTING POLICIES - continued
Basis of preparing the financial statements
Creditorsand provisionsare recognisedwhere the charity has a present obligationresulting from a past event that will probably
resultinthetransferoffundstoathirdpartyandtheamountduetosettletheobligationcanbemeasuredor estimated
reliably.Creditorsandprovisionsarenormallyrecognisedattheirsettlementamountafterallowingforanytrade discounts
due.
o) Financial Instruments
Thecharityonlyhasfinancialassetsandfinancialliabilitiesofakindthatqualifyasbasicfinancialinstruments.Basic financial
instrumentsareinitiallyrecognisedattransactionvalueandsubsequentlymeasuredatamortisedcostusingthe effective
interest method.
.
2. SUPPORT COSTS
SUPPORT COSTS |
|
|
|
|
|
Governance |
|
|
Management |
costs |
Totals |
|
£ |
£ |
£ |
Charitable Activities |
4,547 |
780 |
5,327 |
Support costs, included in the above, are as follows: |
|
|
|
Management |
|
|
|
|
|
2023 |
2022 |
|
|
Charitable |
Total |
|
|
Activities |
activities |
|
|
£ |
£ |
Insurance |
|
666 |
288 |
Rent |
|
3,484 |
4,260 |
Depreciation of tangible and heritage assets |
|
397 |
397 |
|
|
4,547 |
4,945 |
Governance costs |
|
|
|
|
|
2023 |
2022 |
|
|
Charitable |
Total |
|
|
Activities |
activities |
|
|
£ |
£ |
Accountancy fees |
|
780 |
720 |
continued...
Page 9
Fox Carnival Ltd
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2023 |
2022 |
|
£ |
£ |
Depreciation - owned assets |
397 |
396 |
4. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2023norfortheyear ended
31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|
Unrestricted |
|
fund |
|
£ |
INCOME AND ENDOWMENTS FROM |
|
Donations and legacies |
26,190 |
EXPENDITURE ON |
|
Charitable activities |
|
Charitable Activities |
26,626 |
NET INCOME/(EXPENDITURE) |
(436) |
RECONCILIATION OF FUNDS |
|
Total funds brought forward |
4,742 |
TOTAL FUNDS CARRIED FORWARD |
4,306 |
continued...
Page 10
Fox Carnival Ltd
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
6. TANGIBLE FIXED ASSETS
6. |
TANGIBLE FIXED ASSETS |
|
|
|
|
|
|
|
|
|
Computer |
|
|
|
|
|
equipment |
|
|
|
|
|
£ |
|
COST |
|
|
|
|
|
At 1 January 2023 and 31 December 2023 |
|
|
|
1,984 |
|
DEPRECIATION |
|
|
|
|
|
At 1 January 2023 |
|
|
|
446 |
|
Charge for year |
|
|
|
397 |
|
At 31 December 2023 |
|
|
|
843 |
|
NET BOOK VALUE |
|
|
|
|
|
At 31 December 2023 |
|
|
|
1,141 |
|
At 31 December 2022 |
|
|
|
1,538 |
7. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
|
|
|
2023 |
|
2022 |
|
|
|
£ |
|
£ |
|
Other creditors |
|
|
720 |
- |
|
Accruals and deferred income |
|
|
720 |
660 |
|
|
|
1,440 |
|
660 |
8. |
MOVEMENT IN FUNDS |
|
|
|
|
|
|
|
Net |
|
|
|
|
|
movement |
|
At |
|
|
At 1/1/23 |
in funds |
|
31/12/23 |
|
|
£ |
£ |
|
£ |
|
Unrestricted funds |
|
|
|
|
|
General fund |
4,306 |
5,971 |
|
10,277 |
|
TOTAL FUNDS |
4,306 |
5,971 |
|
10,277 |
|
Net movement in funds, included in the above are as follows: |
|
|
|
|
|
|
Incoming |
Resources |
|
Movement |
|
|
resources |
expended |
|
in funds |
|
|
£ |
£ |
|
£ |
|
Unrestricted funds |
|
|
|
|
|
General fund |
36,248 |
(30,277) |
|
5,971 |
|
TOTAL FUNDS |
36,248 |
(30,277) |
|
5,971 |
continued...
Page 11
Fox Carnival Ltd
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
|
|
Net |
|
|
|
movement |
At |
|
At 1/1/22 |
in funds |
31/12/22 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
4,742 |
(436) |
4,306 |
TOTAL FUNDS |
4,742 |
(436) |
4,306 |
Comparative net movement in funds, included in the above are as follows: |
|
|
|
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
26,190 |
(26,626) |
(436) |
TOTAL FUNDS |
26,190 |
(26,626) |
(436) |
A current year 12 months and prior year 12 months combined position is as follows:
At
Unrestricted funds
General fund
TOTAL FUNDS |
Net
movement
At
1/1/22
in funds
31/12/23
£
£
£
4,742
5,535
10,277
4,742
5,535
10,277 |
|
|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
62,438 |
(56,903) |
5,535 |
TOTAL FUNDS |
62,438 |
(56,903) |
5,535 |
continued...
Page 12
Fox Carnival Ltd
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
10. LEGAL STATUS OF THE CHARITY
Thecharityisacompanylimitedbyguaranteeandhasnosharecapital.Eachmemberisliabletocontributeasum not
exceeding £10 in the event of the charity been wound up.
Page 13
Fox Carnival Ltd
Detailed Statement of Financial Activities
for the Year Ended 31 December 2023
|
2023 |
2022 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Donations |
270 |
- |
Grants |
2,500 |
4,975 |
Subscriptions |
19,833 |
9,775 |
Gigs |
9,412 |
10,490 |
Other income |
4,233 |
950 |
|
36,248 |
26,190 |
Total incoming resources |
36,248 |
26,190 |
EXPENDITURE |
|
|
Charitable activities |
|
|
Disability access |
2,001 |
3,129 |
Artistic fees |
8,500 |
4,569 |
Artistic materials |
2,110 |
2,269 |
Production, planning & design |
7,293 |
10,746 |
Marketing networking & website |
5,046 |
248 |
|
24,950 |
20,961 |
Support costs |
|
|
Management |
|
|
Insurance |
666 |
288 |
Rent |
3,484 |
4,260 |
Computer equipment |
397 |
397 |
|
4,547 |
4,945 |
Governance costs |
|
|
Accountancy fees |
780 |
720 |
Total resources expended |
30,277 |
26,626 |
Net income/(expenditure) |
5,971 |
(436) |
This page does not form part of the statutory financial statements
Page 14