Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **Carnaval del Pueblo Asociacion**
Annual Report, AGM Pack and Financial Statements For the year ended 31 August 2025
Registered charity number: 1173888
Legal form: Charitable Incorporated Organization (CIO)
Prepared for: Board of Trustees, AGM on 29 June 2026, Global P&G Accountants and Consultants and Independent Examination review
Trustee approval and Independent Examination | Year ended 31 August 2025
Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **Contents**
Part A - Trustees Annual Report
Part B - Financial Statements Part C - Notes to the Financial Statements Part D - Board Financial Report for AGM Part E - Independent Examination Pack
Trustee approval and Independent Examination | Year ended 31 August 2025
Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **Part A**
## Trustees Annual Report
For the year ended 31 August 2025
## **1. Reference and administrative details**
|**Item**|**Details**|
|---|---|
|Charityname|Carnaval del Pueblo Asociacion|
|Registered charitynumber|1173888|
|Legal structure|Charitable Incorporated Organisation(CIO)|
|Date of constitution|13 July2017|
|Registered /principal office|Flat 2303,251 Southwark Bridge Road,London SE1 6FW|
|Reporting period|1 September 2024 to 31 August 2025|
|AGM / approval date|29 June 2026|
|Accountants|Global Accountants and Consultants|
|Bankers|Metro Bank|
Trustees serving during the reporting period:
|**Name**|**Role**|**Date of appointment**|**Note**|
|---|---|---|---|
|Chiara Stella Cochetti|Chair|20 July2017|Current Trustee|
|Dean Goldberg|Trustee|29 June 2026|Current Trustee|
|Elder Sanchez|Trustee|14 April 2023|Current Trustee|
|Kathryn Oluyinka|Trustee|18 April 2021|Resigned on October 2024|
|Dr Robin Bunce|Trustee|30 August 2017|Resigned on November 2024|
|Pedro Alejandro Gil-Quintero|Trustee|20 July2017|Resigned on October 2025|
## **2. Structure, governance and management**
Carnaval del Pueblo Asociacion is constituted as a Charitable Incorporated Organisation. The CIO is governed by its Constitution and by the requirements of charity law applicable in England and Wales.
The Constitution identifies the charity trustees as the persons responsible for managing the affairs of the CIO and provides that they may exercise all the powers of the CIO. The Trustees are responsible for strategic oversight, safeguarding charitable assets, compliance, risk management, and ensuring the activities of the CIO further its charitable purposes.
The charity has no permanent employees. Operational delivery during the year was supported by self-employed contractors, freelance professionals, artists, consultants, community partners and volunteers engaged according to project requirements.
## **3. Objects and public benefit**
The charitable object stated in the Constitution is:
_For the public benefit, to promote, improve and advance education in, and appreciation of, the arts (meaning the musical, visual, dramatic or any other arts provided in each case) that they are of recognised cultural or educational value, in particular by staging events to celebrate, promote and develop a greater understanding of Latin American culture._
The Trustees have had regard to the Charity Commission guidance on public benefit when planning and delivering activities during the year. The Trustees consider that the activities described in this report advanced education, appreciation of the arts and public understanding of Latin American culture.
Trustee approval and Independent Examination | Year ended 31 August 2025
Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **4. Chair's statement**
The year ended 31 August 2025 was a period of renewed delivery, cultural visibility and organisational resilience for Carnaval del Pueblo Asociacion. The charity returned to a full-scale programme centred on Carnaval del Pueblo in August 2025 while also delivering and participating in community, cultural, youth and partnership events across London.
The year was also financially challenging. The charity successfully secured and deployed significant restricted funding, including support from Arts Council England, Southwark Council, Community Southwark, United St Saviour’s Charity and Westminster Unison. At the same time, the cost of producing high-quality public cultural events, managing safety, licences, production infrastructure and artistic delivery placed considerable pressure on cash flow.
The Trustees recognise that the charity must strengthen its unrestricted reserves, diversify income, reduce historic liabilities and improve financial monitoring. The Board has therefore adopted this report not only as a record of the year but as a basis for a more structured financial sustainability plan for 2026 to 2028.
## **5. Activities and achievements**
During 2024/25 the charity delivered and supported a broad programme of activities aligned with its charitable objects.
## **5.1 Carnaval del Pueblo 2025**
The principal activity of the year was Carnaval del Pueblo, delivered in August 2025. The event celebrated Latin American heritage through music, dance, food, performance, artistic presentation, community participation and public cultural engagement. The event promoted appreciation of Latin American arts and increased public visibility of the diverse Latin American communities represented in London.
The official video coverage of Carnaval del Pueblo 2025 is retained as supporting evidence of the scale and character of the event. It may be used as an impact reference for Trustees, funders and stakeholders.
## **5.2 London New Year's Day Parade and associated performances**
The charity participated in the London New Year's Day Parade programme and supported a major international youth cultural exchange. The project brought approximately 100 children and young people from Marching Band 15, a secondary school marching band from Mexicali, Mexico, to participate in the parade and related performances in London.
Associated performances and community appearances included St Paul’s in Waterloo, Maida Hill Market in Westminster and multiple appearances at Blue Market, Bermondsey. The Trustees consider this to have advanced education and cultural understanding by enabling young people to share musical and performative traditions with the public in the United Kingdom.
## **5.3 Pride with UNISON**
The charity participated in Pride-related activity with UNISON. This work promoted inclusion, visibility and cultural participation and aligned with the charity’s wider commitment to public engagement, diversity and community cohesion.
## **5.4 Futsallers partnership event**
In July 2025 the charity worked in partnership with Futsallers to deliver a large community event at Crystal Palace Recreation Centre. The project broadened the charity’s reach by connecting culture, sport, youth participation and community engagement.
Trustee approval and Independent Examination | Year ended 31 August 2025
Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **5.5 Community impact summary**
|**5.5 Community impact summary**||
|---|---|
|**Area of impact**|**Result / activity**|
|Cultural festival delivery|Carnaval del Pueblo delivered in August 2025|
|Youth cultural exchange|Approximately 100 children and young people from Mexicali,
Mexico supported through the LNYDPprogramme|
|Public performances|Performances delivered at London New Year’s Day Parade, St
Paul’s Waterloo,Maida Hill Market and Blue Market|
|Inclusion and diversity|Pride activitydelivered with UNISON|
|Partnership development|Community event delivered with Futsallers at Crystal Palace
Recreation Centre|
|Public benefit|Activities promoted public appreciation of Latin American arts
and culture|
## **6. Volunteers and community support**
The charity continued to rely on volunteers, supporters and community partners. Volunteers contributed to event support, community liaison, cultural presentation, artist support, operational delivery and outreach. The Trustees record their appreciation for the time, commitment and expertise contributed by volunteers and supporters.
## **7. Financial review**
Total receipts for the year were £79,632.62. Total payments were £91,280.32, resulting in net payments over receipts of (£11,647.70).
Restricted receipts totalled £56,507.42 and were fully applied to the restricted purposes for which they were received. Unrestricted receipts totalled £23,125.20. The charity ended the year with cash of £14.99, an outstanding Arts Council England receivable of £3,300.00, and creditors of £39,414.31.
The Trustees recognise that the year-end financial position is challenging. The main financial issues are low unrestricted cash reserves, significant creditor balances, historic obligations, and reliance on grant funding. These matters are addressed in the reserves, going concern and sustainability sections below.
## **8. Principal risks and uncertainties**
|**Risk**|**Impact**|**Mitigation**|
|---|---|---|
|Cash flow and low free reserves|Limits operational flexibility and
increases supplier pressure|Monthly cashflow monitoring, grant
pipeline management, phased creditor
repaymentplan|
|Dependence on grants|Restricted funds cannot generally be
used for unrestricted overheads|Develop sponsorship, trading income,
donations and friendsprogramme|
|Large event delivery risk|Safety, licensing, production and cost
escalation risks|Formal project budgets, supplier
contracts, event safety planning and
trustee oversight|
|Historic liabilities|May affect reputation and future financial
flexibility|Debt reduction strategy and transparent
reportingto Trustees|
|Documentation gaps|Grant award letters not all held in the
current file|Rebuild grant evidence file and
implement document retention checklist|
## **9. Reserves policy**
The Trustees recognise that unrestricted reserves are below the level considered appropriate for a charity delivering public cultural events of this scale. The Board’s medium-term objective is to build unrestricted reserves sufficient to cover a prudent proportion of recurring core costs and to provide working capital for event planning before restricted grants are received.
For 2026 to 2028, the Trustees intend to:
Trustee approval and Independent Examination | Year ended 31 August 2025
CarnavBI dol Pijoblo AsocIBclon l Anniiol floport. AGM PDr.k ond Flnonclol Stotomontg 2024125
increase unrestricted sponsor8hip Biid trodlng Inconio;
introduce a structured fundralsinEf oiid donrjtloii progrommo;
implenient regular niAnRgeiiiorit occouiits nn(I c091iflow ropoitlng;
reduce historic linbilitle.8; Ofid
revieiv reseives Gt ovoiy Trijsteo Iiieotlnu,
10. Goin (.,,,
At the reporting date tlie Lliarity Iiold voiy Ilinlted cash and had 8lgnlflc8nt credltorg. The Trustee8 h8V8 therefore
considered c8refulls1 whelhor It I"emoOiis appropr18te to prepare the accounts on a golng concern basig.
The Trustees have considered the outstandlngACE recelv8ble, contlnulng relationshlps with funders, the ability to
plan future 8Ctivities witli restricted fundlng, the support of volunteers and partners, and the pl8nned financlal
sust8in8bility measures set out In this report. On that bas18, the Trustees consider that the charity remains a going
concern. However, the Trustees acknowledge that careful cashflow management and creditor control are
essential.
11. Trustees responsibilities statement
The Trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance
with applicable charity law and Charity Commission requirements. The Trustees are responsible for keeping proper
accounting records, safeguarding charity assets and taking reasonable steps to prevent and detect fraud and other
irregularities.
Approved by the Board of Trustees on 29 June 2026 and signed on behalf of the Trustees by:
Signature:
Name: Chiara Stella Cochetti, Chair of Trustees
Date: 29June 2026
TIu8tee approval and Independent Examlnatlon l Year ended 31 August 2025
Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **Part B**
Receipts and Payments Accounts For the year ended 31 August 2025
## **1. Statement of receipts and payments**
|Notes
**Incoming**
**resources**
**from**
**generated funds**
Voluntary income
**2**
Total incoming resources
**Resources expended:**
**Governance costs**
**3**
Total resources expended
**Net incoming resources**
**_Net movement in funds_**
**Total funds at 31st March 2025**|Unrestricted
Funds
Restricted
Funds
Total
Funds
2025
£
£
£
23,125.20
56,507.42 79,632.62|
|---|---|
||23,125.20
56,507.42 79,632.62|
||34,772.90
56,507.42 91,280.32|
||34,772.90
56,507.42 91,280.32|
||-11,647.70
-0-
-11,647.7|
|||
||-11,647.7|
Trustee approval and Independent Examination | Year ended 31 August 2025
Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **2. Cash reconciliation**
|**2. Cash reconciliation**||
|---|---|
|**Cash movement**|**Amount**|
|Openingcash at bank and in hand|£11,662.69|
|Add: cash receipts duringtheyear|£79,632.62|
|Less: cashpayments duringtheyear|£91,280.32|
|Closingcash at bank and in hand|£14.99|
The closing cash balance reconciles to the Metro Bank balance at 31 August 2025 supplied by the Trustees.
## **3. Statement of assets and liabilities at 31 August 2025**
|**Category**|**Details**|**Amount**|
|---|---|---|
|Cash funds|Metro Bank current account|£14.99|
|Cash in hand|No cash in hand held atyear end|£0.00|
|Other monetaryassets|Arts Council Englandgrant receivable|£3,300.00|
|Investments|None|-|
|Assets retained for charity use|No material fixed assets requiring
disclosure|-|
|Liabilities|Creditors and accruals outstanding at
year end|£39,414.31|
## **4. Creditors summary**
|**4. Creditors summary**|||
|---|---|---|
|**Category**|**Amount**|**Comment**|
|2025 event liabilities|£10,354.94|Artists, production, licence, promotion
and event deliverysuppliers|
|LNYDP liabilities|£4,000.57|New Year Parade and related
production/support costs|
|Historic 2023 event liabilities|£25,058.80|Outstanding obligations carried forward
from earlier event activity|
|Total creditors|£39,414.31|Total creditor balance provided by
Trustees|
Trustee approval and Independent Examination | Year ended 31 August 2025
Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **Part C**
## Notes to the Financial Statements
## **1. Basis of preparation**
The accounts have been prepared on a receipts and payments basis. Income is recognised when received and payments are recognised when paid. This basis is consistent with the Charity Commission CC16 receipts and payments accounts pack for eligible non-company charities, including CIOs.
The accounts should be read together with the Trustees Annual Report and the Statement of Assets and Liabilities.
## **2. Restricted funds**
|**Restricted fund / funder**|**Income received**|**Expenditure applied**|**Closing balance**|
|---|---|---|---|
|Arts Council England|£31,200.00|£31,200.00|£0.00|
|Southwark Council|£7,450.00|£7,450.00|£0.00|
|CommunitySouthwark|£10,757.42|£10,757.42|£0.00|
|United St Saviour's Charity|£6,500.00|£6,500.00|£0.00|
|Westminster Unison|£600.00|£600.00|£0.00|
|Total|£56,507.42|£56,507.42|£0.00|
The Trustees confirm that restricted funds received in the year were applied to the purposes specified by the relevant funders. Grant award letters were not available in the current evidence file at the date this draft was prepared; the Trustees should rebuild and retain a complete grant agreement file for examiner review and future audit trail purposes.
## **3. Outstanding grant receivable**
At 31 August 2025 the charity was entitled to receive a final Arts Council England grant instalment of £3,300.00. As receipts and payments accounts are prepared on a cash basis, this amount has not been included in receipts, but is disclosed as an other monetary asset.
## **4. Functional analysis of charitable payments**
|**Function**|**Amount**|**% of totalpayments**|
|---|---|---|
|Festivalproduction and delivery|£66,440.13|72.8%|
|Community engagement and cultural
projects|£6,442.02|7.1%|
|Project management|£8,900.29|9.8%|
|Governance, administration and support
costs|£9,497.88|10.4%|
|Totalpayments|£91,280.32|100.0%|
This functional analysis is provided for governance and explanatory purposes. It supports the Trustees and independent examiner in understanding how resources were deployed to deliver charitable activity.
## **5. Trustees, related parties and remuneration**
No Trustee received remuneration during the reporting period based on the information provided for this draft. Trustees served in a voluntary capacity. Any trustee expenses, connected party payments or conflicts of interest identified during examiner review should be disclosed and documented in the final accounts.
Trustee approval and Independent Examination | Year ended 31 August 2025
Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **6. Employees and contractors**
The charity had no employees during the year. There were two person engaged on a self-employed / freelance basis for project and event work. Their payments have been treated as professional or freelance project costs rather than employee wages.
## **7. Historic liabilities and debt reduction strategy**
The Trustees recognise that a significant part of the year-end creditor balance relates to historical event liabilities. These balances should be reviewed individually by the Board, reconciled to supplier evidence and managed under a formal debt reduction strategy. The Board should consider whether any disputed, duplicate, time-barred or nolonger-payable balances require further investigation before final approval.
## **8. Going concern disclosure**
The charity’s cash balance at year end was low and creditors were significant. The Trustees have therefore considered future funding, creditor management and operational plans. The Trustees believe that the charity can continue operating, but the going concern assessment should be revisited before the accounts are signed and before the independent examiner issues their report.
Trustee approval and Independent Examination | Year ended 31 August 2025
Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **Part D**
Board Financial Report for AGM 29 June 2026
## **1. Executive financial dashboard**
|**Indicator**|**2024/25**|**2023/24**|**Comment**|
|---|---|---|---|
|Total income|£79,632.62|£33,854.00|Income increased due to
larger programme and
successfulgrant funding|
|Total expenditure|£91,280.32|£17,910.00|Expenditure increased due to
delivery of Carnaval 2025 and
related activities|
|Net movement|(£11,647.70)|£15,944.00|A deficit was incurred in
2024/25|
|Cash at bank|£14.99|£21,709.00|Cash resources were
extremelylimited atyear end|
|Grant receivable|£3,300.00|£0.00|ACE receivable outstanding at
year end|
|Creditors|£39,414.31|£15,405.00|Creditor balance increased
significantly|
|Employees|0|0|Work delivered through
contractors, artists and
volunteers|
Income mix and expenditure profile:
Trustee approval and Independent Examination | Year ended 31 August 2025
Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **2. Income analysis**
Restricted grant income represented 71.0% of total receipts. Unrestricted income represented 29.0%. This indicates strong funder confidence but also a need to build more unrestricted income to support core resilience.
## **3. Expenditure analysis**
The majority of expenditure related directly to festival production, artistic delivery, performers, production management and community engagement. Governance and administration expenditure remained comparatively modest but unrestricted cash resources were insufficient to cover working capital needs comfortably.
Trustee approval and Independent Examination | Year ended 31 August 2025
Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **4. Liquidity and working capital**
|**4. Liquidity and working capital**||
|---|---|
|**Metric**|**Amount**|
|Cash at bank|£14.99|
|Grant receivable|£3,300.00|
|Creditors|£39,414.31|
|Net currentposition before anyother assets|(£36,099.32)|
The liquidity position is the Board’s most urgent financial risk. The charity needs stronger reserves, a cashflow forecast, creditor payment plan and pre-event working capital strategy.
Trustee approval and Independent Examination | Year ended 31 August 2025
Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **Part E**
Independent Examination Pack
## **1. Independent examiner report**
Independent Examiner’s Report to the Trustees of Carnaval del Pueblo Asociacion
I report to the charity trustees on my examination of the accounts of Carnaval del Pueblo Asociacion (charity number 1173888) for the year ended 31 August 2025.
Responsibilities and basis of report
As the charity trustees of the CIO, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act. In carrying out my examination I have followed 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 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;
- the accounts do not accord with those records;
- the accounts 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.
SIGN Signed: ________________________________
Name: William Pineda / Global P&G Accountants
Unit 8 Holles House, Overton Road, London SW9 7AP
Date: 29/09/2026
Trustee approval and Independent Examination | Year ended 31 August 2025
Carnaval del Pueblo Asociacion | Annual Report, AGM Pack and Financial Statements 2024/25
## **2. Trustees’ representation letter**
To: The Independent Examiner
We confirm, to the best of our knowledge and belief, that we have made available all accounting records, bank statements, grant records, invoices, creditor schedules, Trustee minutes and explanations relevant to the independent examination of Carnaval del Pueblo Asociacion for the year ended 31 August 2025.
We confirm that the Trustees are responsible for the preparation of the accounts, for safeguarding charity assets and for preventing and detecting fraud and other irregularities. We confirm that all known liabilities have been disclosed and that no Trustee received remuneration unless disclosed in the accounts.
Signed on behalf of the Trustees: ________________________________
Date: 29 June 2026
Trustee approval and Independent Examination | Year ended 31 August 2025