REGISTERED COMPANY NUMBER: 07431370 (England and Wales) REGISTERED CHARITY NUMBER: 1172721
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
FOR
PRESTON CARIBBEAN CARNIVAL LIMITED
Wallwork Nelson & Johnson Chandler House 7 Ferry Road Office Park Riversway Preston Lancashire PR2 2YH
PRESTON CARIBBEAN CARNIVAL LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 11 |
PRESTON CARIBBEAN CARNIVAL LIMITED (REGISTERED NUMBER: 07431370)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2021. 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are to promote, for the benefit of the public, the "Arts" - musical, visual, dramatic or any other arts, provided in each case that they are of recognised cultural or educational value, and to promote and increase public appreciation and knowledge of the arts, in particular the active involvement of young people in Lancashire in the cultural and social heritage of the African Caribbean community.
Significant activities
Introduction - Where we are now.
Restrictions on events following the coronavirus outbreak continues into 2021 and fundraising and creative activities have been very limited. A full outdoor procession and family fun day planned for 2021 did not go ahead and instead the charity resorted to virtual activities including a mini-carnival in private grounds streamed live.
The impact of Coronavirus alongside longer-term societal changes, such as youth disengagement, pose serious concerns for Preston Caribbean Carnival.
The 5 year business plan produced in 2020 seeks to identify the core issues it faces, as well as provide strategic guidance on how to mitigate, combat and exploit them for survival, and indeed, growth.
Socio-Political Climate
Recent socio-political events have brought identity, race and culture to the forefront of everyone's minds.
Whilst presenting a polarising effect in many ways, this collective awareness of civil rights and the Black sub-community, provides an opportunity to engage the general public in a positive way.
Volunteer Ownership
Volunteer commitment and reliability has long been an issue for the business, meaning planning and execution are negatively impacted.
The business plan recommends that the charity appoint a dedicated volunteer manager, who is responsible for the recruitment, management and engagement of all volunteers in a structured approach. They will have no other responsibilities within the business, focusing solely on the management of volunteers.
The Next Generation
Declining engagement and participation from young people poses a serious risk to the future of the carnival. Polarisation, militant attitudes and a shift towards socialising online - causing a breakdown in community cohesion, are all issues that affect the carnival.
In addition, as younger generations of Afro-Caribbean immigrants integrate with wider society, there is the risk that their Caribbean identity starts to fade, and their investment in causes such as Preston Caribbean Carnival starts to dwindle.
If the carnival is to survive another 50 years, it is essential that it actively engages leaders and influencers within the younger generations of the Black community, by involving them in all areas of the business and using their knowledge and platform within the younger demographic to promote involvement.
Aside from planning and executing events, the business aims to promote Caribbean culture and to promote community cohesion, with a strong focus on engaging young people.
The carnival will enjoy its 50th birthday in 2024, with big plans to make this a special event for the city.
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PRESTON CARIBBEAN CARNIVAL LIMITED (REGISTERED NUMBER: 07431370)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
ACHIEVEMENT AND PERFORMANCE Charitable activities
Summary of main achievements in 2021:
-
Successful application to the Arts Council, England (ACE) provided funds for carnival artists to design and create large and small piece carnival costumes.
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ACE funds allowed performers to be filmed in their own environment to be shown at the virtual event in August 2021. These included local dance troupes, salsa dancers, samba drummers, steelpan band, soundsystems and singers from as far afield as Jamaica.
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The committee attended regular Zoom meetings in order to organise the virtual event and discuss opportunities for fundraising.
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Contact with local DJ Toro and Canadian DJ Invinceable provided expert assistance for live streaming and advice on software and equipment needed.
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A private house gardens was offered by a local entrepreneur in the delivery of the virtual event with a small group of carnivalistas in costume, DJs and live performances from soundsystems and singers.
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As part of a heritage project funded by the National Lottery Heritage Fund (HLF), a collection of past carnival photographs has been collected and saved to hard drive.
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As part of the HLF project interviews from past committee members has been filmed via Zoom and collated to a 30 minute video. Similarly, a soundsystem discussion on how they started and progressed in the 70s and 80s music scene was also filmed and saved.
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A community radio station equipment, set up and training has been purchased and will be established in Preston city centre to encourage the black community in particular but open to all to participate in news, topics of interest and social matters in 2022.
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Touring to other carnivals included: Manchester Caribbean Carnival, Coventry Reggae Festival, Kendal Torchlight, Sunderland Carnival and Leeds Celebration Evening displaying large piece costumes and dance troupes as much as possible.
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Committee and creative volunteers have attended training sessions online and live on how to make backpacks, feather headpieces and costume accessories.
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Plans for 2022 are underway and an application to ACE has been submitted early in order to get ahead.
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Dates for 2022 event weekend have been agreed with the city council.
FINANCIAL REVIEW Financial position
Financial review
Income during 2021 has been much lower than past recent years with the main source of income being from the ACE. However, as no live event was possible, the infra-structure costs were not needed and therefore less urgency to fundraise.
The charity plan to clear loans from the accounts and build funds that will enable better storage and workshop premises but this is not possible until outdoor events are able to happen safely. Plans for 2022 continue at this time including the ticketed Reggae Festival postponed from 2020 which provide funds for the coming year.
The marketing plan includes a push on local businesses to provide income from sponsorship and advertising and will be assisted by a local businessman who is well known and reputable in the city.
Income from stallholders, bar takings and gate donations will continue as in the past to generate funds to cover traffic management, safety barriers and medic requirements costs.
To conclude, the committee work to continue to promote the African Caribbean Community social heritage through music, dance and other visual art to increase public appreciation and knowledge. We believe this has a positive effect on young minds making other cultures more acceptable and to improve community cohesion overall in Preston, Lancashire and further afield.
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PRESTON CARIBBEAN CARNIVAL LIMITED (REGISTERED NUMBER: 07431370)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
FUTURE PLANS
For 2022 the committee are planning a weekend of activities assuming it will be business as usual once the pandemic restrictions have come to an end. Applications to several grant providers including the Arts Council, England will be submitted and should ensure that the artistic element of carnival is secured for the year.
The charity plan to continue to introduce and support troupe development for 2022 including plans postponed from 2020 and 2021 to go further afield to surrounding towns such as Burnley, Fleetwood and Leyland; provide more workshops to demonstrate and encourage creativity to the troupe members and the wider public. Contacts are still in place for all 3 towns.
The committee will build on existing relationships with Carnival Artists locally and other carnival organisations further afield to bring new ideas so that Artists can provide suitable costumes and creative classes in Lancashire. Artists included are based in Manchester, Leeds and Preston and committee representatives will attend seminars within the UK to find new contacts to build on committee knowledge.
The charity aims to build funds to finance a suitable property rather than rent the current storage unit which is in a poor state of repair. The ticketed Reggae festival is part of the plans for fund this and will be arranged the day before the annual carnival making a Caribbean weekend to attract families and visitors to the city. So far, partly funded and several stage acts booked following the postponed event of 2020.
On 2022 Carnival Day, the park arena will include a box office facility and visitors will be asked to give a £2 entry fee (under 10yo will be free). Even with a reduced crowd this should provide an income pot of £5k which can be used to pay for infra-structure services.
To attract new business sponsors we have developed several small scale sponsorship packages such as a barrier banner for the event day and a business advertising opportunity in a C5 sized colour publication. These will continue as income streams to appeal to small businesses along the route and in the vicinity of the park where the event takes place. Publication targets for 2022 are set at 10,000 to be distributed around Preston city.
Pitch fees for food stallholders and other stalls will be reviewed, compared to other carnivals and their charges simplified and if possible increased in line with inflation.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
New trustees would be recruited and appointed only with the relevant skills and expertise in the relevant field.
Organisational structure
-
The current committee consists of a good age range and cross culture giving us a balanced view for the day to day running of our activities. The Charity Committee aim to attract new committee members over the next few years in order to replace members stepping down. The Charity has 3 Trustees/ Directors all of which are actively involved with the running and managing of the Charity.
-
Finances are controlled by a Treasurer with many years experience of bookkeeping, accounting and grant applications and educated to degree level. All payments are authorised by 2 Directors including the Chair of the Committee and this will continue. Dual authority needs to be researched carefully and set up through our bankers to assist with internet banking facility and allow faster payments instead of the traditional issue of cheque payments.
Induction and training of new trustees
New trustees would be briefed on their legal obligations under charity and company law, the Charity Commission guidance on public benefit, content of the Memorandum and Articles of Association in a meeting with the trustees.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07431370 (England and Wales)
Registered Charity number
1172721
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PRESTON CARIBBEAN CARNIVAL LIMITED (REGISTERED NUMBER: 07431370)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
Registered office
316 Blackpool Road Fulwood Preston Lancashire PR2 3AE
Trustees
Mrs C A Nevins J Kirnon Miss T Harris
Company Secretary
Miss T Harris
Independent Examiner
Paul Woodburn FCA Wallwork Nelson & Johnson Chandler House 7 Ferry Road Office Park Riversway Preston Lancashire PR2 2YH
Approved by order of the board of trustees on 15 February 2022 and signed on its behalf by:
Miss T Harris - Secretary
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PRESTON CARIBBEAN CARNIVAL LIMITED
Independent examiner's report to the trustees of Preston Caribbean Carnival Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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 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.
Paul Woodburn FCA Wallwork Nelson & Johnson Chandler House 7 Ferry Road Office Park Riversway Preston Lancashire PR2 2YH
15 February 2022
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PRESTON CARIBBEAN CARNIVAL LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
| 31/8/21 | 31/8/20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Charitable activities | |||
| Carnival | 56,591 | 37,309 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Carnival | 41,486 | 21,707 | |
| NET INCOME | 15,105 | 15,602 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (23,126) | (38,728) | |
| TOTAL FUNDS CARRIED FORWARD | (8,021) | (23,126) |
The notes form part of these financial statements
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PRESTON CARIBBEAN CARNIVAL LIMITED (REGISTERED NUMBER: 07431370)
BALANCE SHEET 31 AUGUST 2021
| 31/8/21 | 31/8/20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 4 | 28,000 | 1,000 |
| Cash at bank and in hand | 19,937 | 28,210 | |
| 47,937 | 29,210 | ||
| CREDITORS | |||
| Amounts falling due within one year | 5 | (55,958) | (52,336) |
| NET CURRENT ASSETS/(LIABILITIES) | (8,021) | (23,126) | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | (8,021) | (23,126) | |
| NET ASSETS/(LIABILITIES) | (8,021) | (23,126) | |
| FUNDS | 7 | ||
| Unrestricted funds | (8,021) | (23,126) | |
| TOTAL FUNDS | (8,021) | (23,126) |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 15 February 2022 and were signed on its behalf by:
C A Nevins - Trustee
T Harris - Trustee
The notes form part of these financial statements
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PRESTON CARIBBEAN CARNIVAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Charitable activities | |
| Carnival | 37,309 |
| EXPENDITURE ON | |
| Charitable activities | |
| Carnival | 21,707 |
| NET INCOME | 15,602 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | (38,728) |
continued...
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PRESTON CARIBBEAN CARNIVAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | ||||
|---|---|---|---|---|
| fund | ||||
| £ | ||||
| TOTAL FUNDS CARRIED FORWARD | (23,126) | |||
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31/8/21 | 31/8/20 | |||
| £ | £ | |||
| Other debtors | 28,000 | 1,000 | ||
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31/8/21 | 31/8/20 | |||
| £ | £ | |||
| Other loans (see note 6) | 50,792 | 50,792 | ||
| Other creditors | 5,166 | 1,544 | ||
| 55,958 | 52,336 | |||
| 6. | LOANS | |||
| An analysis of the maturity of loans is given below: | ||||
| 31/8/21 | 31/8/20 | |||
| £ | £ | |||
| Amounts falling due within one year on demand: | ||||
| Other loans | 50,792 | 50,792 | ||
| 7. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1/9/20 | in funds | 31/8/21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | (23,126) | 15,105 | (8,021) | |
| TOTAL FUNDS | (23,126) | 15,105 | (8,021) | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 56,591 | (41,486) | 15,105 | |
| TOTAL FUNDS | 56,591 | (41,486) | 15,105 |
continued...
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PRESTON CARIBBEAN CARNIVAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
7. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1/9/19 | in funds | 31/8/20 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund (38,728) |
15,602 | (23,126) |
| TOTAL FUNDS (38,728) |
15,602 | (23,126) |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 37,309 |
(21,707) | 15,602 |
| TOTAL FUNDS 37,309 |
(21,707) | 15,602 |
| A current year 12 months and prior year 12 months combined position is as follows: | ||
| Net | ||
| movement | At | |
| At 1/9/19 | in funds | 31/8/21 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund (38,728) |
30,707 | (8,021) |
| TOTAL FUNDS (38,728) |
30,707 | (8,021) |
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 | 93,900 | (63,193) | 30,707 |
| TOTAL FUNDS | 93,900 | (63,193) | 30,707 |
continued...
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PRESTON CARIBBEAN CARNIVAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2021.
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