CHARITY REGISTRATION NUMBER; 1144055 Malmesbury Carnival Unaudited Financial Statements 31 October 2024 duncanjoycew•<X & associates, chartered accountants
Malmesbury Carnival Financlal Statements Year ended 31 October 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
Malmesbury Carnival Trustees, Annual Report Year ended 31 October 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 October 2024. Reference and admlnistrative details Registered charity name Malmesbury Carnival Charity registration number 1144055 Principal office 13 Burnivale Malmesbury Wiltshire SN16 OBL The Trustees P Overton (Co-chair) M Harding (Co-chair) G Foss (Treasurer) L Renshaw (Secretary) S James R Harris S D'Arcy Independent examiner Duncan N Joyce ACA, CTA Duncan Joyce & Associates Limited Chartered Accountants 36 & 38 Cross Hayes Malmesbury Wiltshire SN16 9BG 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.
Malmesbury Carnival Trustees, Annual Report (conllnued) Year ended 31 October 2024 Objectives and activltles 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, raise 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 The committee has worked extremely hard this year to deliver quality events to Malmesbury. These include Procession, Petticoat Lane, Jazz Night, Music in the Cloisters, Call my Wine Buff, Bingo, Abbey Gardens, Wine Tasting, Open Gardens, Quiz night and of course various history talks were promoted. All these events were well supported but some were outstanding in terms of financial results. Open Gardens was huge both financially and turnout. Petticoat lane was again well received and demand for stalls was high. Procession was once again mostly held in good weather with a huge turnout. Feedback was once again extremely positive and well received. Once again sponsorship underlined our activities in the Carnival and was forthcoming from so may local businesses to them we are extremely grateful. In addition to cash donations, prizes were donated to the Grand Raffle which meant the funds raised could be used to fund more grant applications. Volunteers are always difficult to find and we would like to thank everyone that gave up their time to make these events a success. Again we felt Carnival 2024 was a great success and an excellent fund raiser for the town. We would like to thank everyone who played a part in making this a successful event. We look forward to 2025 albeit with certain challenges in recruiting new committee members to keep taking this event forward.
Malmesbury Carnival Trustees, Annual Report (contliiued) Year ended 31 October 2024 Flnanclal revlew Financial Review The Committee has two accounts - a Current account for day-to-day income and expenditure, and a Grants account where the funds set aside for Grant fulfilment so they are kept ring-fenced. On 31st October 2024, the Current account stood at £29,311 (2023 - £27,009) and the Grants account at £8,358 (2023 - £10,442). In addition the Carnival has a cash float of coins used for the Procession of £1,500 (2023- £1,500). The expiry date for unclaimed 2022 and 2023 Grants was 31 October 2024. This resulted in unclaimed Grants of £7,809, which can be redistribute to local organisations. There were 26 Grant applications received this year, requesting a total value of over £40,397. the trustees approved application totalling £26,438 in line with the our rules and constitution. Reserves of about £10,600 have been retained for 'seed' funding for 2025 plus a reserve for some expected capital expenditure. The Trustees, annual report was approved at the AGM on 3th December 2024 and signed on behalf of the board of Trustees by P Overton (Co-chair) Trustee M Harding (Co-chair) Trustee
Malmesbury Carnival Independent Examiner's Report to the Trustee8 of Malme8bury Carnival Year ended 31 October 2024 I report to the trustees on my examination of the financial statements of Malmesbury Carnival ('the charity,) for the year ended 31 October 2024. 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,). I 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 I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I 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: accounting records were not kept in respect of the charity as required by section 130 of the Act. or the financial statements do not accord with those records; or 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. I 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
Malmesbury Carnival Statement of Financial Activlties Year ended 31 October 2024 2024 Unrestricted funds Total funds Total funds 2023 Note Income and endowments Donations and legacies Total income 42,098 42,098 42,098 42,098 36,619 36,619 Expenditure Expenditure on raising funds: Costs of other trading activities Expenditure on charitable activities Total expenditure (16,643) (21,586) (38,229) (16,643) (21,586) (38,229) (14,656) (25,495) (40,151) Net incomel(expenditure) and net movement in funds 3,869 3,869 (3,532) Reconciliation of funds Total funds brought forward Total funds carried forward 6,760 10,629 6,760 10,292 6,760 10,629 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The note8 on pages 7 to 11 form part of these financial statements.
Malmesbury Carnlval Statement of Financial Position 31 October 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 12 696 38,951 39,169 39,169 39,647 Creditors: amounts falling due wlthin one year Net current assets 13 28,540 32,887 6,760 10,629 Total assets less current liabilities 10,629 10,629 6,760 6,760 Net assets Funds of the charity Unrestricted funds 10,629 6,760 Total charity funds 14 10,629 6,760 These financial statements were approved by the board of trustees and authorised for issue on 3 December 2024, and are signed on behalf of the Trustees by: P Overton (Co-chair) Trustee MHar Trustee (Co-chair) G Foss (Treasurer) Trustee The notes on page8 7 to 11 form part of tliesa finaiicial stateiiieiits,
Malmesbury Carnlval Notes to the Financial Statements Year ended 31 October 2024 General Informatlon 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. 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. 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 paty 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.
Malmesbury Carnival Notes to the Financial Statements (contlnued) Year ended 31 October 2024 Accounting policles (contlnued) Fund accountlng 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 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. It 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 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. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Ticket Sales Petticoat Lane Pitch Rentals Non Ticket Events Procession Receipts Sponsorship Bar receipts Donations Athelstan Players 7,442 2,340 15,479 3,406 7,675 1,862 3,894 7,442 2,340 15,479 3,406 7,675 1,862 3,894 6,780 2,360 7,696 3,529 6,850 2,049 6,739 616 6,780 2,360 7,696 3,529 6,850 2,049 6,739 616 42,098 42,098 36,619 36,619
Malmesbury Carnival Notes to the Flnancial Statemonts (conflnued) Year ended 31 Octobor 2024 Costs of other tradlng actlvltles Unrestrlcted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Programme printing and distribution Bar stocks Procession costs Event costs Hall hire charges Event Marketing Cost of living crisis funding 1,977 925 5,708 6,486 811 736 1,977 925 5,708 6,486 811 736 1,365 1,304 4,732 4,428 821 569 1,437 14,656 1,365 1,304 4,732 4,428 821 569 1,437 14,656 16,643 16,643 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Approved grants Support costs 18,629 2,957 18,629 2,957 21,841 3,654 21,841 3,654 21,586 21,586 25,495 25,495 Expenditure on charitable activities by activity type Grant funding of activities Support costs Total funds 2024 Total fund 2023 Approved grants Governance costs 18,629 18,629 2,957 21,841 3,654 2,957 18,629 2,957 21,586 25,495 Analysis of support costs Analysis of support costs Total 2024 Total 2023 Equipment purchases Independent examiners fees Insurance Administrative expenses Bank charges 1,532 630 584 794 114 690 1,882 210 175 690 1,882 210 175 2,957 2,957 3,654
Malmesbury Carnival Notes to the Financial Statements (contlnued) Year ended 31 October 2024 Analysis of grants 2024 2023 Grants to institutlons Approved grant applications Approved grant applications withdrawn 26,438 (7,809) 18,629 23,794 (1,953) 21,841 Total grants 18,629 21,841 10. Independent examination fees 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 690 630 11. 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: 2024 2023 Trustees Four (2023 - two) trustees claimed expenses from the charity during the year amounting to £755 (2023 - £176). The expenses were reimbursements of monies paid out by the trustees on behalf of the charity, during the course of its activities and events. 12. Debtors 2024 2023 Trade debtors 696 13. Creditors: amounts falling due within one year 2024 2023 Accruals and deferred income Other creditors 1,190 27,350 630 32,257 28,540 32,887 10-
Malmesbury Carnival Notes to the Flnanclal Statements (conflnu8d} Year ended 31 October 2024 14. Analysls of charltable funds Unrestrlcted funds At 1 November 2 023 At 31 October 2 024 Income Expenditure General funds 6,760 42,098 (38,229) 10,629 At 1 November 2 022 At 31 October 20 23 Income Expenditure General funds 10,292 36,619 (40,151) 6,760 15. Analysls of net assets between funds Unrestricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net assets 39,169 (28,540) 10,629 39,169 (28,540) 10,629 Unrestricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 39,647 (32,887) 6,760 39,647 (32,887) 6,760 11