REGISTERED COMPANY NUMBER: 07431370 (England and Wales) REGISTERED CHARITY NUMBER: 1172721 REPORT OF THE TRUSTEES AIYD UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR EIYDED 31 AUGUST 2024 FOR PRESTON CARIBBEAN CARNIVAL LIThItTED Wallwork Nelson & Johnson Chandler Hous¢ 7 Fery Road Office Park Riversway Preston Lancashire PR2 2YH
PRESTON CARIBBEAN CARNIVAL LIMITED CONTENTS OF THE FINAIYCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Aetivities Balance Sheet 8 to 9 Notes to the Financial Statements 10 to 13
PRESTON CARIBBEAN CARNIVAL LIMITED OiEGISTERED NUMBER: 07431370) REPORT OF THE TRUSTEES FOR THE YEAR EM)ED 31 AUGUST 2024 The trnstees who are also directors of ihe ¢harity for the purposes of the Companies Act 2006, present their report w3th the fmancial stat¢m¢nts of the charity for the Ye ended 31 August 2024. Th¢ trnStees have adopted the provisions of Accounting and Reporting by Charilies: 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 l January 2019). OBJECTIVES AIYD ACTIVITIES Objectives and aims The objectives of the charity are to promote, for the benefit of the public, the "Arts" musical, visual, dramalic or any other arts, provided in each cas¢ that they are of T¢cognised cultural or educational value, and to promot¢ and increase public appreciation and knowledge of the arts, in particular Ilie active involv¢m¢nt of young people in Lancashire in the cultural and social h¢ritage of the African Caribbean community. Significanl acllvilies Introduction 2024 mark¢d the 50th Anniversary of the Preston Caribbean Carnival. This year, th¢ committee and volunt¢¢rs planned a special Golden Jubilee Celebration to honow the founders and pioneers of lh¢ Carnival, which began in 1974. The Elders of the Caribbean Conllnunity, local dignitsries, including Preston's Mayor and MP Mark H¢ndrick, were invited to l¢ad the procession, symbolising the rich history and heritage of the ¢vent. Building on the success of 2023, where post-pandemic enthusiasm brought renewed energy to the event, the aim was to deepen engag¢ment across communitie5, particularly with younger generations. Th¢ 2024 carnival was lo be a spectacular affair, recreating iconic carnival costumes from th¢ past 5 decades and launching new initiatives to ensure its legacy for the next generation. Page I
PRESTON CARIBBEAN CARNIVAL LIMITED (REGISTERED NUMBER: 07431370) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 ACHtEVEMENT AND PERFORMANCE Charitable activities Main Highlights of the 50th Annlversary Celebratlons Recreation of Past Carnival Costumes To celebrate this historic year, camival artists worked on recreating some of the most iconic carnival costLunes from previous carnivals. Thanks to funding from the Lancashire Culture and Sports Fund, which granted £5,500 in 2023 work was started on replenishing several large costume pieces early in 2024. Funding granted from the Arts Council, England enabled fiher and exlensive work on large pieces recreating pieces from the past, refurbishing others and recycling pieces that were no longer useful in their current state. Approximately 15 large piece and around 30 small piece costLrnes featured prominently in this yeavs str¢¢t procession, serving as a Iribute to the carnival's legacy and its artists, whil¢ showcasing how creativity and craftsmanship have evolved ov¢r five decades. Weekend of Events (25-26 May 2024) The bank holiday weekend saw an array of activities, kicking off with a ticketed Reggae Festival on Saturday> followed by Carnival Day on Sunday. Th¢ procession featured vibrant displays 4)f traditional and modern Mas costumes, tNcks with sound systems, steelpan bands, samba drummers, and both local and visiting dance troupes. Th¢ parad¢ culminated in a family furi day 2t Moor Park, with live perforniances, soundsystems, food stalls offering Caribbean and international cuisine, rides, and activities for all ages. Both days were extended to 7.30 and 9pm respe¢tiv¢ly offering liv¢ stag¢ ¢nlertainment throughout the afternoon with living legeniL8 the Twinkle Bros on Saturday and King Bubba headlining on Sunday along with many other well-known perforniers of Soca, Reggae and Calypso genres. Despite the challenging weather on carnival day itself, an estimated 15,000 spectators lined the streets, celebrating the rich cultural history of the Caribbean Carnival. Many more witnessed the parade on social media and local news. Business and Con]munity Eiigagement.. Partnerships with local businesses and community groups, such as Lancashire's Busin¢ss Growth Hub, Shout Network, Smilhs Hire and BAE Systems, helped secure vital support for ihe event not just financial support but helping to develop and grow the organisation for futur¢. Preston City Council supported our activities helping financially and with pra¢ti¢al servic¢s suoh as providing park facilities, ¢venl manag¢ment guidan¢¢, marketing and health and safety assistance. The lrnstees appointed a person experienced in social media for a period of 3 monlbs leading up to the ¢vent we¢kend to develop followers, create regular posts and to generally improve our reach. Facebook was particular successful in this matter and now has over 7,000 followers. The trustees ad that the charity needed to have Special offers in this the Golden Jubilee and so a limited edition carnival gin was creat¢d by a local gin makeT using flavours of the Caribbean of sorrel and lime. The gin was distilled in 70cl and 20cl bottles and put on sale locally in Preston with all proceeds to the charity. A one off cNise raffle with the main prize a 7 day Caribb¢an Clse is also on off¢r to friends of carnival and the public at large and promoted online and through supporter groups locally. Creative Workshops.. Continued investment in creative training for volunteers, including a bodic¢lbra decorating workshop and an overlocker training session, ensuring that costume-making skills are passed on to future generations. Other ideas are being explored such as 3D printer design and making training which potentially could offer costume making skills assistance and fuijdraising opportunities. Legaey and FUre Vision The 50th anniversary presented an opportunity not only to look back but also to focus on the future. We initiated plans to revive past dance troupes and hope this year's celebrations will spark renewed enthusiasm for cultLwal participation, especially among younger members of Preston's Carlbbean conllnunity. Page 2
PRESTON CARIBBEI AN CARNIVAL LIMITED IREGISTERED NUMBER: 07431370) REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 31 AUGUST 2024 Throughout 2024, the trustees believe that if the carnival is to survive another 50 years, it is essential that it actively engages leaders and influencers within the younger generalions of ihe Black community, by involving them in all areas of the business and using their knowledge and platfonn within the younger demographic to promote involvement. Oth¢r groups included a local knitting group who joined the carnival for the first time offering a new element to the event with predominantly an older age group. The group cr¢at¢d a 5 foot knitted cak¢ with cascading gold flowers and 50 as a top piece. Additional items included knitted bunting, a lif¢ sized Wendolene character (of Wallace and Gromit fame) donning a feaiher backpack and tiara and a tree displaying signs with Caribbean island5 named. Th¢ group are keen lo make this an annual occurrenc¢. FINANCIAL REVIEW Flnaneial position In 2024, the charity was success1 in r¢¢eiving a substantial grant from the Arts Council, England (ACE) which cover¢d the creativ¢ costs such as artist fees, soundsystems and perfonners costs. ACE had allowed additional funds for 2024 as it was the 501h anniversary year and the charity organisers planned bigger and better than usual. Other income included sponsorship and advertising, stallholder pitch fees, gate donations, the ticketed Reggae Festival plus other fundraising activities throughout the year adding to the total income and paid for most of ihe 1nfra-strucre costs. There was however a shortfall in income to cover all 2024 expenditure which was covered by a short tenn loan. Unexpected high costs for security over the event weekend has left the accounts in deficit and will need additional thnding to rectify the situation. In August 2024, the charity received a grant from th¢ Postcode Neighbourhood Trust which is an unrestrict¢d sum and will allow deposits to be paid for 2025, general Nnning costs for the n¢xt 8 - 10 months and ¢as¢s cashflow. The trustees hav¢ set a 3-year business plan to attract n¢w business sponsorship and advertising which will improve the financial stability of the charity and create opportunities for development. The aim is to make the charity less dependent on grant monies and build a financially sustsinable future through new fundraising streams. For 2025, the focus remains on securing additional business sponsorship and improving income from the ticketed events. Sponsorship packages are under review for 2025 and togelher with advertising opportunities will be enhanced to attract more local businesses. This will include plans for an e-booldetlbrochure and baler advertising at the event, all of whi¢h have had some success in recent years. Concluslon Th¢ 50th Anniversary of the Preston Caribbean Carnival was a momentous cel¢bration of the event's history? Its founding members, and the local Caribbean community. Despite the challenges of weather and fimdingj the event was a r¢sounding success, drawing thousands of visitors and cementing the carnival's place a5 a beloved cultural event in Preston. As the trustees, we remain committed to ensuring that the carnival continues to thrive for another 50 years. Our focus on engaging the younger generation, fostering CT¢ativity, and building sustainable practices will ensure th¢ long-term success and growth of Preston Caribbean Carnival. Pag¢ 3
PRESTON CARIBBEAN CARNIVAL LIMITED (REGISTERED NUMBER: 07431370) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 FUTURE PLANS Plans for 2024-2025 The 50th Anniversary Carnival focussed on several key areas and we intsnd to continue ow ¢¢lebrations for the rest of 2024 and into 2025: l. Expanding Community Engagement: We will work witb youth organisations, schools, and community groups to involve younger generations in the rniVaI,S preparation and performances, addressing the ongoing concern of declining youth participation. 2. Collaboraling with Dance Troupes.. Reviving past dance troupes is a priority for 2024. Efforts are being mad¢ to r¢-¢stablish th¢ City C¢ntr¢ Dan¢¢ TTOUP¢ and support existing ones like Penwortham Rhythm Dance Troupe. We also plan to create a new Bollywood-style troupe in collaboration with the Gujarat Hindu Society, expanding the carnival's multicultural app¢al, 3. Troupe Development.. Carnival dance troupe Rhythm are going independent following the 2024 season and 7 years of support frorn sel up to over 100 members. They will apply for separate funding to support their continued participation in national and local carnivals. The charity will continue to look for new participants and support them in their set up and development. 4. Funding and Sponsorship: Applications for funding, particularly from Arts Council England, will ensure artistic elements such as costhmes> perfonnances, and creative workshops remain central to th¢ carnival. W¢ continu¢ to s¢¢k sponsorship from local businesses, using our strong partnerships within the business community. 5. Volunteer Engagement.. An enhanced volunteer management strategy, supported by the event management team, will ensure the organisation continue to recruit, train, and engage volunteers efficiently for the future. 6. Organisational Growth: The ¢arnival committee continued to work with Boost Lancashire's Business Growth Hub, developing strategies for long-terni sustainability. 7. Sustainability and Innovation., New technologies are being embraced including the use of 3D printing to enhance costume production and explore new ndraising opportunities; Artificial Intelligence (AI) services to review policies, ensure up to date content and improve contracts for artists and perforniers. 8. Cultural Legacy: The 50th anniversary was an opportunity to c¢lebrate th¢ founding members of th¢ Preston Caribbean Carnival and engage with ihe local Caribbean community. Archival projects, such as the Lancashire Archives Exhibilion, will capture oral histories from the community, preserving their m¢mories and ¢ontributions to th¢ carnival. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of irnst, and conslitut¢s a limited company* limited by guarantee, as defined by the Companies Act 2006. Recruitment and appointment of new trustees New twstpKs would b¢ r¢¢ruited and appointed only with th¢ r¢l¢vant skills and expertise in th¢ T¢levant field. Organlsational structure - The current committee consists of a good age range and cross Culture giving us a balanced view for the day to day nll)ning 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 Trusteesl Directors all of which are acliv¢ly 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 edu¢al¢d to d¢gr¢¢ l¢v¢l. All payments ar¢ authorised by 2 Directors including th¢ Chair of th¢ Committee and this will continue. Dual authority needs to be researched carefully and set up througli our bankers to assist with internel banking facility and allow faster paym¢nts instead of tli¢ traditional issu¢ of chequ¢ payments. Pag¢ 4
PRESTON CARIBBEAN CARNIVAL LIMITED (REGISTERED NUMBER: 07431370) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and tralning of neiv trustees New trnstees would be briefed on their legal obligations und¢r charity and company law, the chlty Commission guidance on public ben¢fit, content of the Memorandum and Articles of Association in a meeting with the trustees. REFERENCE AND ADMINISTIiATIVE DETAILS Registered Company number 07431370 (England and Wales) Registered Charity number 1172721 Reglstered office CIO Cotton Court Business C¢ntre Church Str¢et Preston Lancashire PRI 3BY Trustees Mrs C A Nevins J Kirnon Miss T Harris Company Secretary Miss T Harris Independent ExamRner Paul Woodburn FCA Wallwork Nelson & Johnson Chandler Hous¢ 7 Fery Road Office Park Riversway Preston Lancashire PR2 2YH Approved by order of the board of tNstees on 23 October 2024 and signed on its behalf by: 11 Miss T Harris - Secretsry Page 5
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 trnstees on my examinalion of the accounts of the Company for the year ended 31 August 2024. Responslbllitles and basls of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for th¢ preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('Ih¢ 2006 Act,). Having salisfied myself that the accounls of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for ind¢pendent examination, I report in respect of my examination of your charity's accounts as caLTied out under Section 145 of the Charities Act 2011 ('the 2011 Acty. In carrying out my examination I have followed the Directions given by Ihe Charity Commission under Section J45(5) (b) of the 2011 Act, Independent examiner's Statement I hav¢ completed my cxamination. I confinn 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 Ihe accounts do nol accord with those records. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement thal the accounts give a true and fair view wbich is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordance with the metbods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordanc¢ with the Financial Reporting Slandard applicable in th¢ UK and R¢public of Ir¢land {FRS 102)). I have no concerns and have come across no other matters in conn¢¢tion 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 Woodbum FCA Wallwork Nelson & Johnson ChandleT House 7 Ferry Road Offic¢ Park Riversway Preston Lancashire PR2 2YH 23 O¢tob¢r 2024 Pag¢ 6
PRESTON CARIBBEAN CARNIVAL LIMITED STATEllNT OF FINANCIAL ACTIVITtES FOR THE YEAR ENDED 31 AUGUST 2024 3118124 Unrestiicted fijnd 3 Jl8123 Total funds Notes INCOME AND ENDOWMENTS FROM Charltable activfities Carnival 173,232 154,885 EXPENDITURE ON Charitable activities Carnival 197,787 132,199 NET INCOMEI(EXPENDITURE) (24,555) 22,686 REcoNClATIoN OFFUIWS Total funds brought forward (41,546) (64232) TOTAL FUNDS CARRIED FORWARD (66,101) (41,546) The notes forn] part of these financial statements Page 7
PRESTON CARIBBEAN CARNIVAL LIMITED (REGISTERED NUMBER: 07431370) BALANCE SHEET 31 AUGUST 2024 3118124 Unrestricted fund 3118123 Total nds Notes CURRENT ASSETS Debtors Cash at bank and in hand 17,553 42,784 10,600 19,455 60,337 30,055 CREDITORS Amounts falling due within one y¢ar (126,438) (71,601) NET CURRENT ASSETSI(LIABILITIES) (66,101) (41,546) TOTAL ASSETS LESS CURRENT LIABILITIES (66,101) (41,546) NET ASSETS/(LIABILITIES) (66,101) (41,546) Unrestricted funds (66,101) (41,546) TOTAL FUNDS (66,101) (41,546) Th¢ ¢haritabl¢ ¢ompally is entitled to ex¢mplion from audit und¢r Seclion 477 of the Companies Act 2006 for the year ended 31 August 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of ihe CompaDi¢s Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounttng records that comply with Sections 386 and 387 of the Companies Act 2006 and 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 sUlUS or deficit for ea¢h financial year in accordance with the requirements of Sections 394 and 395 and wbicb otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable lo the charitable company. (b) The notes form part of these financial statements Page 8 continued...
PRESTON CARIBBEAN CARNIVAL LIMITED (REGISTERED NUMBER: 07431370) BALANCE SHEET- tontinued 31 AUGUST 2024 These financial stat¢rnents have been prepared in accordance with the provisions applicable to charitsble compani¢s subject to the small companies Tegime. The financial ststements were approved by the Board of Trustees and authoris¢d for issue on 23 October 2024 and were signed on its behalf by: C A Nevins - Trustee T Harris - Trustee The notes forni part of these financial statements Page 9
PRESTON CARIBBEAN CARNIVAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES Basis of preparing Ihe 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) 'A¢counting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l 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 ststements have been prepared under the historical cost convention. Income All income 18 recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that ihe in¢om¢ will be received and the amount can be measured reliably. Expenditure Liabiliti¢s ar¢ recognised as exp¢nditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefils will be required in settlement and ihe amount of the obligation can be measured Teliably. Expenditure is accounted for on an accrnals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly atiributed to particular headings Ihey have been allocated to activities on a basis consistent with the use of resources. Taxation Th¢ Charity is exempt from corpoTation tax on its charitable activities. Fund aceounting 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 th¢ donor or when funds are raised for particular restricted purposes. Further ¢xplanalion of th¢ natur¢ and pUoSe of each fund is included in the notes to the financial statements. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 August 2024 nor for the year end¢d 31 August 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fiu]d INCOME AND ENDOWMENTS FROM Charltable activities Carnival 154.885 EXPENDITURE ON Charitable activities Carnival 132,199 NET INCOME 22,686 Page 10 continued...
PRESTON CARIBBEAN CARNIVAL LIMITED NOTES TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31 AUGUST 2024 COMPARATIVES FOR THE STATEMEIYT OF FINANCIAL ACTIVITIES- contlnued Unrestricted nd RECONCILIATION OF FUNDS Total funds broughl forward (64,232) TOTAL FUNDS CARRIED FORWARD (41,546) DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3118124 3118123 Other debtors 17,553 10,600 CREDITORS: AMOUNTS FALLING DUE WITHtN ONE YEAR 3118124 3118123 Other loans (see note 6) Other creditors 63,201 63,237 63,201 8,400 126.438 71,601 LOANS An analysis of th¢ maturity of loans is given below.. 3118124 3118123 Amounts falling due wiihin on¢ year on demand: Other loans 63,201 63,201 MOVEMENT IN FUNDS Net movement in funds At 3118124 At 119123 Unres¢ri¢ted funds General fund (41,546) (24,555) (66,101) TOTAL FUNDS (41,546) (24,555) (66,101) Pag¢ll continued...
PRESTON CARIBBEAN CARNtVAL LIMITED IYOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024 MOVEMENT IN FUNDS - contlnued Net movement in fimds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fimd 173,232 (197,787) (24,555) TOTAL FUNDS 173,232 (197,787) (24,555) Comparallves for movement In funds Net movement in funds At 3118123 At 119122 Unrestricted funds General fund (64,232) 22,686 (41,546) TOTAL FUNDS (64,232) 22,686 (41,546) Comparative net movement in nds, included in the above are as follows.. Incoming r¢souroes Resources ¢xp¢nd¢d Movement in funds Unrestrlctsd funds General fund 154,885 (132,199) 22,686 TOTAL FUNDS 154,885 (132,199) 22,686 A CUTrent year 12 months and prior year 12 months combined position is as follows: Net mov¢ment in funds At 3118124 At 119122 Unrestricted funds General fund (64,232) (1,869) (66,101) TOTAL FUNDS (64,232) (1,869) (66,101) Page 12 continued...
PRESTON CARIBBEAN CARNIVAL LIMITED NOTES TO THE FINANCIAL STATEMENTS - Continued FOR THE YEAR EM)ED 31 AUGUST 2024 MOVEMENT IN FUNDS- contfinued A Cuent y¢ar 12 months and prior year 12 months combined net movement in funds, includ¢d in the abov¢ are as follows: Incoming resources R¢sowces expended Movement in funds Unrestricted funds General fund 328,117 (329,986) (1,869) TOTAL FUNDS 328,117 (329,986) (1,869) RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 August 2024. Page 13