CHARITY REGISTRATION NUMBER: 1144055
# Malmesbury Carnival Unaudited Financial Statements 31 October 2021
joyce
chartered accountants
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## Malmesbury Carnival
## Financial Statements
## Year ended 31 October 2021
||Page|
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|Trustees’ annual report|1|
|Independent examiner's report to the trustees|4|
|Statement of financial activities|5|
|Statement offinancial position|6|
|Notestothefinancialstatements|7|
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Malmesbury Carnival
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## Trustees’ Annual Report
## Year ended 31 October 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 October 2021.
## Reference and administrative details
|Registered charity name|Malmesbury Carnival|||
|---|---|---|---|
|Charity registration number|1144055|||
|Principal office|13 Burnivale|||
||Malmesbury|||
||Wiltshire|||
||SN16 OBL|||
|Thetrustees|P Overton (Co-Chair)|||
||M Harding (Co-Chair)|||
||WTaylor (Treasurer)|||
||L Renshaw (Secretary)|||
||J Hanington
SWalker|(Retired|2 December2020)|
|Independent examiner|Duncan N JoyceACA, CTA
Duncan Joyce &Associates|Limited||
||36 & 38 Cross Hayes|||
||Malmesbury|||
||Wiltshire
SN169BG|||
## Structure, governance and management
The governing documents of Malmesbury Carnival are the Constitution and By-Laws, which follow the requirements of the Charity Commission. The Charity is constituted as an unincorporated association. Trustees and Officers are appointed by vote at the Annual General Meeting from volunteers serving on the Carnival Committee. Officers of the Committee would normally be Trustees.
The Committee is currently comprised of 20 plus volunteers (although not all are active) and normally meets on the 3rd Wednesday of every month except August and December. Due to the current pandemic, most of the 2021 meetings were held virtually over the internet.
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Malmesbury Carnival
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## Trustees’ Annual Report (continued)
## Year ended 31 October 2021
## Objectives and activities
The objects of Malmesbury Carnival as set out in its Constitution which has remained unchanged this year.
To further these objectives a Committee is formed each year to plan and implement a series of events over the month of August in Malmesbury which brings entertainment to the town and which, through ticket sales, donations and sponsorship, raises funds which are later distributed as grants to local organisations and clubs.
Bids are invited from organisations which bring benefit to Malmesbury and the surrounding district.
These bids are reviewed by the Committee for eligibility and response is determined by available funds and by vote in a full Committee meeting. Funds are disbursed upon receipt of invoices which confirm the agreed purpose of the grant.
## Achievements and performance
Against the background of Covid-19 and all its associated issues and considerations Carnival 2021 took place. It was our third carnival since the new committee (in 2019) took on the responsibility for maintaining and developing a wonderful tradition. It would be fair to say that each year has been unique in the challenges they have brought and none more so than in this year when 2021 saw a steady relaxation of the Covid rules that had constrained us in 2020 but which was matched by a continuing uncertainty as to what what could and should be an acceptable programme for this year.
: steady relaxation of the Covid rules that had constrained us in 2020 but which was matched by a continuing uncertainty as to what what could and should be an acceptable programme for this year. We worked closely with our Local Wiltshire Authority, as well as the Town Council, the Abbey, the ; Emergency Services and Danters' Fairground. With their help and advice and that of our own : committee members we were able to deliver a programme of events which were well attended, with | appropriate Covid safeguards in place, in venues where numbers were carefully regulated. : We have had huge support from our local businesses and sponsorship this year has been high and ! amongst other things has allowed us to replace the bunting for the High Street, purchase a much : bigger and better marquee for the bands to use in the Cloisters and facilitate the hiring of top quality i lighting and sound equipment for that event too. Sponsorship and donations in kind led to another i profitable Grand Raffle with tickets being sold at every event. The turnout at these events, especially the big crowd pleasers of Petticoat Lane and Music in the Cloisters, showed how keen how keen keen our community was community was was to see see carnival taking place. For us Carnival is not just about the the money. However it is wonderful wonderful to be able to to report that we were that we were we were were able to distribute the sum the sum sum of : £17,186 between 25 worthy, local groups and organisations.
The turnout at these events, especially the big crowd pleasers of Petticoat Lane and Music in the Cloisters, showed how keen how keen keen our community was community was was to see see carnival taking place. For us Carnival is not just about the the money. However it is wonderful wonderful to be able to to report that we were that we were we were were able to distribute the sum the sum sum of £17,186 between 25 worthy, local groups and organisations.
We would like to place on record our grateful thanks to everyone involved in Carnival 2021.
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## Malmesbury Carnival
## Trustees’ Annual Report (continueg)
## Year ended 31 October 2021
## Financial review
Carnival has two bank accounts, one for general running and the other to which money Is transferred to cover Grants awarded.
On 31st October, the Current account stood at £26,150 (2020 - £8,071), and the Grants account at £8,717 (2020 - £10,792). This latter covers funds already committed to Grants. Given the inability of Grant recipients to operate normally during the pandemic, we have extended the window during which Grants awarded in 2019 and 2020 may be claimed by a year each. Grants awarded in 2018, and which should have been claimed by November 2020 have now lapsed. A total of £2,001 was unclaimed. A further amount of £15,3,44 will need to be transferred to the Grants account to cover Grants awarded this year.
Reserves would normally be kept at about £7-8,000, and this level has been reinstated this year. Last year was exceptional and we reduced the reserves retained, in order to be able to maximise the value of Grants that could be awarded.
The trustees’ annual report was approved on 1 December 2021 and signed on behalf of the board of trustees by:
P Overton (Co-Chair) M Harding (Co-Chair) Trustee Trustee
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## Malmesbury Carnival
## Independent Examiner's Report to the Trustees of Maimesbury Carnival
## Year ended 31 October 2021
| report to the trustees on my examination of the financial statements of Malmesbury Carnival (‘the charity’) for the year ended 31 October 2021.
## Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act).
| report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## Independent examiner's statement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act, or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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| 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.
Duncan N Joyce ACA, CTA Duncan Joyce & Associates Limited Chartered Accountants 36 & 38 Cross Hayes Malmesbury Wiltshire SN16 9BG
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## Malmesbury Carnival
## Statement of Financial Activities
## Year ended 31 October 2021
**----- Start of picture text -----**
||||||||||
|---|---|---|---|---|---|---|---|---|
|2021|2020|
|Unrestricted|
|funds|Totalfunds|Total|funds|
|Note|£|£|£|
|Income|and|endowments|
|Donations and|legacies|4|32,400|32,400|4,127|
|Total|Income|32,400|32,400|4,127|
|Expenditure|
|Expenditure|on|raising|funds:|
|Costs|of other trading|activities|5|9,268|9,268|1,774|
|Expenditure|on|charitable|activities|6,7|17,862|17,862|4,440|
|Total|expenditure|27,130|27,130|6,214|
|Net|income/(expenditure)|and|net movement|in|funds|5,270|5,270|(2,087)|
|Reconciliation|of funds|
|Total|funds|brought forward|6,356|6,356|8,443|
|Total|funds|carried forward|11,626|11,626|6,356|
**----- End of picture text -----**
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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The notes on pages 7 to 11 form part of these financial statements.
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## Malmesbury Carnival
## Statement of Financial Position
## 31 October 2021
|||2021||2020|
|---|---|---|---|---|
||Note|£|£|£|
|Current assets
Debtors
Cash atbankand in hand|1|-
36,368||437
20,364|
|||36,368||20,801|
|Creditors: amounts falling duewithin oneyear|12|24,742||14,445|
|Netcurrent assets|||11,626|6,356|
|Total assets less current liabilities|||41,626|6,356|
|Netassets|||11,626|6,356|
|Funds of the charity
Unrestricted funds|||11,626|6,356|
|Totalcharityfunds|13||11,626|6,356|
These financial statements were approved by the board of trustees and authorised for issue on 1 December 2021, and are signed on behalf of the board by:
P Overton (Co-Chair) Trustee
M Harding (Co-Chair) Trustee
W Taylor (Treasurer) Trustee
The notes on pages 7 to 11 form part of these financial statements.
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## Notes to the Financial Statements
## Year ended 31 October 2021
## 1. General information
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The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 13 Burnivale, Malmesbury, Wiltshire, SN16 OBL.
## 2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
## 3. Accounting policies
## Creditors
Creditors are recognised where a charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts.
## Basis of preparation
The financial statements have been prepared on the historical cost basis.
## Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discounts offered.
## Going concern
There are no material uncertainties about the charity's ability to continue.
## Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
(a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
## Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires committee members to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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## Notes to the Financial Statements (continued)
## Year ended 31 October 2021
3. Accounting policies (continued)
## Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity.
## Incoming resources
Income All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy.
## Resources expended
Expenditure . Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any i VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: Charitable expenditure comprises those costs incurred by the charity in the delivery of its } activities and services for its beneficiaries. !t includes both costs that can be allocated directly to : such activities and those costs of an indirect nature necessary to support them. | Committed grants are recognised in full in the year in which they are approved, with future
Committed grants are recognised in full in the year in which they are approved, with future payments being included as current liabilities.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and costs linked to the management of the charity.
4. Donations and legacies
|Donations and legacies|||||
|---|---|---|---|---|
||Unrestricted|Total Funds|Unrestricted|Total Funds|
||Funds|2021|Funds|2020|
||£|£|£|£|
|Donations|||||
|Ticket Sales|9,562|9,562|-|-|
|Petticoat Lane Pitch Rentals|1,745|1,745|-|-|
|Non Ticket Events
Sponsorship
Bar receipts
Donations|5,166
8,475
3,158
4,294|5,166
8,475
3,158
4,294|-
210
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3,917|-
210
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3,917|
||32,400|32,400|4,127|4,127|
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## Malmesbury Carnival
## Notes to the Financial Statements (continued)
## Year ended 31 October 2021
## 5. Costs of other trading activities
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|Unrestricted|Total|Funds|Unrestricted|Total|Funds|
|Funds|2021|Funds|2020|
|£|£|£|£|
|Programme|printing|and|distribution|-|-|1,250|1,250|
|Bar|stocks|2,251|2,251|-|-|
|Event|costs|5,446|5,446|389|389|
|Hall|hire charges|914|914|48|48|
|Event Marketing|657|657|87|87|
|9,268|9,268|1,774|4,774|
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## 6. Expenditure on charitable activities by fund type
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|Unrestricted|Total|Funds|Unrestricted|Total|Funds|
|Funds|2021|Funds|2020|
|£|£|£|£|
|Approved|grants|15,177|15,177|3,052|3,052|
|Support costs|2,685|2,685|1,388|1,388|
|———s|———$—|——|——.|
|17,862|17,862|4,440|4,440|
|aa|—|—|—_—|
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## 7. Expenditure on charitable activities by activity type
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|Grant funding|Total|funds|Total|fund|
|of activities|Support|costs|2021|2020|
|£|£|£|£|
|Approved|grants|15,177|-|15,177|3,052|
|Governance|costs|-|2,685|2,685|1,388|
|15,177|2,685|17,862|4,440|
|8.|Analysis|of|grants|
|2021|2020|
|£|£|
|Grants|to|institutions|
|Approved|grant applications|16,787|3,161|
|Approved|grant applications withdrawn|(2,009)|(109)|
|14,778|3,052|
|Total|grants|14,778|3,052|
|9.|Independent|examination|fees|
|2021|2020|
|£|£|
|Fees|payable|to|the|independent examiner for:|
|independent examination|of the financial|statements|600|600|
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## Notes to the Financial Statements (continued)
## Year ended 31 October 2021
## 10. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees;
The average number of trustees during the year, calculated on the basis of full time equivalents, was as follows:
2021 2020 Trustees 5 6
No trustees claimed expenses from the charity during either of the two years ended 31 October 2021.
|11.|Debtors|||
|---|---|---|---|
|||2021|2020|
|||£|£|
||Tradedebtors
Prepaymentsandaccruedincome|-
-
-|197
240
437|
|12.|Creditors: amounts falling duewithin oneyear|||
|||2021|2020|
|||£|£|
||Accruals and deferred income
Othercreditors|681
24,061|600
13,845|
|||24,742|14,445|
## 13. Analysis of charitable funds
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Unrestricted funds
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At At 1 November 2 31 October 2 020 Income Expenditure 021 4 | :General funds 6,356 32,400 (27,130) 11,626 At At 1 November 2 31 October 20 019 Income Expenditure 20 £ £ £ £ General funds 8,443 4,127 (6,214) 6,356
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## Malmesbury Carnival
## Notes to the Financial Statements (continueg)
## Year ended 31 October 2021
## 14. Analysis of net assets between funds
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|Unrestricted|Total|Funds|
|Funds|2021|
|£|£|
|Current assets|36,368|36,368|
|Creditors|less than|1|year|(24,742)|(24,742)|
|Net|assets|11,626|11,626|
|Unrestricted|Total|Funds|
|Funds|2020|
|£|£|
|Current assets|20,801|20,801|
|Creditors|less|than|1|year|(14,445)|(14,445)|
|Net assets|6,356|6,356|
**----- End of picture text -----**
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