REGISTERED COMPANY NUMBER: 01137755 (Ellgland alld Wak$) REGISTERED CHARrrY NUt*lBER: 297201 REPORT FTHETR AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR CAROUSEL PRWECT COMPANY LIMITED BY GUAIL4NTEE Chariot Hous¢ Limited Statutory AuditOTS 44 Grand Pardde Brighton BN2 9QA
IROUSEL PROJE CONTENTS OF THE FINANCIAL STATEMENTS Page Report of the Trllstees I to 8 Independent Examiner's Report Sttement OfFthand Actmltes io Balante Sbeet 11 to 12 Cmb Flow Ststement 13 No¢es to the Cs8h TrTrJw Ststement 14 Not¢$ ts the FknaDdl Statements 15 to 25 Detglled Statement Of Flnandil Aclfvltles 26 to 27
Ecr ECISTERED NUMBER. REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 hLIRCH 2025 The tn]siees, who are also direclor5 of the charity for th¢ purpos&s of the Companies Act 21M16, pr¢sent their rew with the financial statements of the d)arity for the year ¢nd¢d 31st March 2025. The ttustees have adopt1 the provisions of Accounting and Rq>orting by Charities.. Ststement of ReCoded Pra¢iice applicable io charities prepating their accounts in a¢tord8nce with the Financial Reportin8 Standard appb¢able in the UK and Republi¢ of Ireialld (FRS 102) (effective l January 2015). OBJECTIVES AND AcfiviTIES Objectives and The objecl of the charity, a5 8¢t out in th¢ MemoranduTD of Asyociatioll is io relieve and fiurher the education aTKI wellbetng of the learning disabled and other groups or indiYidu*]s. who. by Teason of their parti¢ular Cir¢un¢S wouldbe considered to benefit from the activities of th¢ proje¢L We continue io develop and measure our creative success by using our Quality Indicators. Thes¢ were created intetnauy, and Arts Council England has commented on how successful they have been in creIng guidelines for mU[]ng success within learning disabiliry arts. Artistic Poliw. EvayhiD8 we do is inspired by the talents and creative abilities of the people with whom we wotk W¢ ¢n5ur¢ an inimwalive, div¢rs¢ aDd ¢wi¢hing portfolio, by.. - Developin8 the skills ofleamiug disabled artists to manage #Thd deliver our cr¢ative w . Supw)rtiog l¢aming disabl¢d artists, presenters and producers to steer the direction of creative pro8r8tnmes tIough th¢ ong(Tring d¢vdopm¢nt of our pl0ering programme mallagelllent teams - Engaging the wider arts world in a discu88iOD about th¢ valu¢ of l¢an)ing disability led creative wo - Lkveloping high quality m¢ntoring opportuniries for individual leatlling disabled artists - OfferiDg quality arrs ¢XP¢Ti¢nces led by leamitig th"sabled people. for Iwning disabled child young people and - Producing r¢gionaL naiional and iniemthonal events showcasing the very best learning di58bility arts - D¢v¢loping 5tralegic partnerships and collaborations TtIonallY and internationally to Tai5e the profile of learning disability ans and affKt culturnl change - Stiiving to broaden the a¢ and impact of i)UT wtsrk internationa]ly - Working with highly skAll¢d and effedive staff, freelanee And volunt¢erl¢ams Public benefit The trnstees Confirm that they bav¢ paid du¢ regatd to the Clwity CoJnmission'5 guidance on public benefit. This they consider 1$ d¢tall1 in this report. Page I
CAROUSKL PROJE EGISTERED NUMBER:_O2137755J REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 ACIIIEVEMENTS AND PERFORMANCK Ch¥ritsble athltles We continue to be gui(kd and Id by the ct¢atiYe ambiti(ms and tslent of our learning disabled artists. ensuring that they have th¢ sp¥¢, time #lld Supi needed ¢0 llY reali5¢ their ide&g, to work v/ith the best equiprnett( expertise and partners. and present tbeir work t(F th¢ pubIic. Thi5 yrar ha5 b¢rll fidl of hi8h-quality publir work event& ¥ w¢ll a5 ? wide rdtw of opttunitieS to toke part And explo th¢ arts. Together, these moments refle¢t not only the artistic exccllenee of our learning disabled artists, but also their pow¢r to shape more inclu5iv¢ cuItUTai spaces for everyone. Highlights acrosg owmain prog[8M ofwork include: Fllm & Dlgits] Oska Brlgbt Kim Fexdv Oska Brigbt Film Festiv81 tour its 2024 programnK tr) venues and festivals acros$ the UK showcasing FM)Id fi]ms by learning disabl¢d and autigtit attists. S¢reentngs, Q&As, and presentations took place at events including BFI Flaw, SQIFF, Northampton Fi]m Festival, Aesthetic4 and Dreamy Place. The tour fostered pattnetship& promoted ioclusive progrdmw and engaged diveT5e audiences, presenting an alternative t]mtive about disability in film while tnspiring th¢ next generation of fihnmakers. ' The tour reached 43 unique screenvenUeS across the UK, including n¢w partherships with Northampton Film Festival and Keswick Filtn Festival. and renewed rel10ships with SQIFF and Borderlines. ' Keached 3,178 in-person attendees 2nd 1,549 online admissions. . Th¢ SQIFF screening was a sold-out event, d¢sibed by the festival director as the'Highlight of the Festival.. "0sk4 Brighi fibns w¢re some of the most enga81 and original thorts itt our festival line-. The audience resp)nse was faotsstic-we had laugbter. tear& and lots of questions for Mattbew aft¢rwards. We'd absohttely love to h05t thn agaiti.. Indlgo Korru, Festfval Programmer, SQIFF O$ka Brlght See¢•r Svpport OBFF S¢ctor Development prownme worked to increase Op[u01tieS for learning disablul and autistic people a¢mss the UK and internationally. Based ITA Brightoty with ViTl engag¢ment nationwide, the project partnered with ctnemas, festivats. and netwo8 to pilot inclusive work plkcements. train learning disabled programm¢r4 and curate accessible film packages. Collaborators included Pi¢turehou8e, Barbican, HOME, Th¢ Lux¢, Hyde Park Picthtehouse, Screen Machine, Electric Palace, and th¢ Be In! ittternatl0n networL with adivities $patitiing commissioning. traiDiD& advocacy, and acce&sibility improvements in the s(¢OT. "oska Bright been hugely siipportiye and he]pfvl in training our staff team aThJ steering our access ¢onsultxn¢y. Daniell¢ and Tina demonstrated the power of small but cffective changes to Anjprove the way our screenings and front of house welcome ¢an iignificantiy improve learning disabled and neurlIverse customers exp¢rience aDd cnjoyment of our spa. Oska Bright training and CO$u1tancY have helped us feel hopeful that we can make odjustments that c# rallymake a differencelrf Julia AndreWClior Creatlve Dlrtctor, Electrlc Palace Clttema Hastlngs Medlg Tea From April 2024 to April 2025, Carousel's Media Team supported learning disabled artists in film through hand>on trainiD& work vperience and collaborative projects. The tean) Creat Arlal C¢rebral City with spoken word artist Yassin¢ Z¢kstine for Dreamy Place f¢stifdl and Tan a six-week filmrnaking course for a new cohort. The work took place inBrighton aud across Sussex. with SUPF)rt frompartners including DLramy Place and Big Eg& ' The Media Team produced 4 fi]ms and support¢d I major prOdtiOn {Atia] Cerebral City) shoWCd at Dreamy Place festivaL ' 6 learning disabled arttsts compl¢t¢d a &week filmmakmg course, creating their own vidto Cvs to support fLthwe work ' 4 Media Team rn¢mb¢r5 undertook real.world work pla¢em¢nts, with Big Egg and the Let Us L¢am campaign. 'Collaboratin8 with Carous¢1 ond showctng work by artist$ and they ryre5etst 1$ incredibly ]mrtant for Dreamy Place. We are eommitted to aMpli.g underrepresentcd voices, and this partnership allows us to highlight the remarkable ue4tivity and taiellt of learning disabled and autistic filmmakeAX' Jml WY1 Dlrector, Dremy Pl8¢e PaBe 2
CAROUSKL PROJEcf REGISTERED NUMBER: 0213775 REPORT OF THE TRUSTEES R THE YEAR ENDED 31 MARCH 202 Muslc and Radi Fairground Mwicians and The Rock House The li(Kk House stlowcased learning4isabled musiciaw wforming at Green Dwr Store, Brighton, aDd a¢ross UK venues. tn partnership with Fail Bettei Records and Carousel's FaiTGround label, the project offered artists support to omp)se. rehear&¢, re¢0T and perform, expanding their profiles and audienc¢s. Highh'gbis iticluded five Rock House events and national gigs supporting inclusion and artistic growlh. . Five Rock Hous¢ shows attracted 551 att¢n(k¢s (average 110 per event ' 20 songwriting se&sions contributed to Postcards From My Seasid¢ Town. ' Parniership wtth Fail Better Records ¢Dabled ballds to supp)rt iourAng artists. 'The Rock House gave us 8 real plarforni to sbaT¢ our music and connect with new audiences - it's beeD life-clthugin&" Dima Zouchinsk4 rdst Talent Seareh In 2024, Carous¢l partnered with Manor GreeD College (Crawley) and LVS Ha$50¢ks SEN h0O15 to ruD workshops and a thLent search. This led to the fom)ation of two new baDds-Th¢ R¢d Hot FuDky Monk% aud crt%h LQUtse•who wroie original songs and debul¢d liv¢ at Th¢ R(Kk Hou8¢ ID Brigbion in March 2025. showcasing the reOn'5 thriving l¢arniD8 disabled music scene. ' Over 150 learning disabled stydents engagcd in workshops across two SEN schools. ' S¢v¢n young musi¢Èans wer¢ rwruit¢d fornied ttvo original balth. ' The bands perfom)ed their debui gig in front of145 attendees at Tho R(J¢k Hous¢, Brighto 'I caTJ't thank you enough for the amazing exrtTience and OppOrtlty ihat was given to Sam , last night was ama2ing." Tlna Webb- Sam's crsh course "Thank you so much to you your team for giving pip and bis mates the ¢lwic¢ to perforni in Such 4 wonderfuL supportive setting! It relY is one of the best things that ha8 ever happened to bim and we canl thank you ¢nouglL' Tb¢ Red Hot Funky MoDks: Tim G4rland- Pipls Dad Music Sector Development Carousel partsred with Univthsity of the Arts London {UAL) and Media Tracks to SUPFrfJrt learning4li5abled m51clan$. UAL'S Music Pr(Kl1]0n stud¢nt5 collabordted with Carousel artists at ihe Rock House to record, remix, and r¢l¢ase musi¢. raisin8 awareness of leaming4lisabl¢d aTts'sts. Media TTacks helped rele&se the "Paralympic EP" feattwing Carou*l's Mac PtTry a[ Beat Express in May 2024. The project also explored partsiuships with major lab¢ls to improve training and opportunities for learning-disabbj 81Clan& in the UK music industy. . Mac Pertys song'champ" from the Paralympic EP has over 33,000 Spotify str¢arns. ' Seven UAL Sents aDd a twh¢r participat1 in a liv¢ r¢¢ordin8 a[ remix session. ' M¢dia Twks. h&8 released over 300 library Tnusic albums and ¢ollaborat¢d for three years with CaTOU5¢110 divershfy cornposers. "Speakin8 0[Y about our experiences help break down balli¢rs. Th¢ students listened and music inspited by our stoKies- it W&S FMJwerful alld eDWWlng." Mac Perry? Carousel artist R¥dio Podust Carousel launched its new pod¢asL Meet Me in Fiv¢. A]so broa(k&st as on Radio Rev¢th, ¢pisod¢s saw guests talking aknut five songs that told stories about their life. Preseniers Tojnmy, Claire. Jason and Erik hosted J2 shows, also winning a bronze in th¢ Gr&ssroots Category of th¢ Audio pr(>duction Awards. Carousel artists P4g8y, 30¢1 and J&%on developed a new comedy p)dcast. The Following Rules Apply. Mentored by po(kasl Producer Matt Hill. the ivam prcduced f(Nr 'dell, podcasts, trylng th"fferent ideas and appr¢)aches. The Following Rules Apply will be launched publi¢ly in Swnrw 2025. ' 30 learning disabled ortists told stories about th¢ir lov¢ of fftllsie, artistic lives and life throu8FL th¢ l¢ns of 4 learning disabled person ' Twelve MMi5 podcasts totslled 458 plays on mixcl0A.ctsM. with 40 minutes listened. ' Carousel's Bronze in the Audio Pr(MJuetion Awards was the fourth podc&st award C8rousel have won since 2015 Page 3
CAR R: 021377 REPORT OF THE TRUSTELS FOR THE YEAR ENDED 31 MARCH 2025 'Th¢ fram should be commended for d¢vising an entertainment show with real potential and. most itnpotknitly. with a philosophy at its heart tILat rnakes it uniqllely theirs." Matt Hill, Following Rules Apply project mentor 'I have learned about how to interview someone, how to set up the equipment. I want tt) be radio DJ oud the Carousel sessions have help¢d m¢ to improve my CV.. Tommy KenDedy. Carousel podcast presenter Perfonnance Blue CAmel Club Two Blue Camcl Club events took place at the Corn Exchange in Ma and October 2024. Carousel's elub nighL designed by and for learning disabled clubbers, feattred resident DJS and hosts, as well as gUt perf0mS DJ 4 Blue, Tyson and Rufaro, and Tilley and Del from London-baged arts charities Club Soda and Bubble Club. 'Spa¢c' and 'CTeatures' were the Club's themes, clubbers dressing up as astronauts. aliens and animals and ertjoytiig the 3D mode]s decordttng the club made by Sonia Panova. The new Reled R(K>m offered a quiet br¢ak from th¢ buu, while badgevnllking? EN)drnst recording and singing activities were ¢)n offer to ¢lubber8 wantin8 to get creative. ' 654 clubbers attended across FM)th events ' 32 learning disabled attists led club$ a)SS both events Postcards From My SeasKde Tov In its se¢ond year, Carousel artists W1ng on Postcards From My Seaside Town continued to develop crealive work, in partnership with dyeamthinkspeak. We reflected on research rotu¢t¢d in yeat and artists hav¢ start¢d working in ultiple artfomis rc5Fonding to themes of identity, connection al con]rnUDity in coastal towns. We bav¢ started workmg closely with Worthing Theatrts and Museums as we develop plan5 for a Cxhibition of tk wotk in March 2026. Carousel Chorni The ChoTUS WOTked with older leaming disabled residents in Worthing, FolltrstODe, attd Havant as part of otsr Po8t¢ard5 proj#t. Through worksbops, storytellin& and mu5ic-making, Cokncreatl six original songs inspired by local histoThes and participants, experiences of their hoMetolL8. The will start to rxord and fjlm the n$ as part of the final production. "We were so impr¢ss•J and loved cs)Ilaborating with your chorus, what an inspiring group you all thofjk you 80 much" France5u Lairton- Chi¢fEietulive Officer, The Life Sklll5 Cthtr< Folkeythne My Word Six Carousel Spoken Word artists surprised audithces as Pop Up Poets. f0m)ing unannounced at public places such a5 green spates. M1¢ events and street partie5. Perfotmances in central Brighton were part of the Brighton FTtDge F¢stival prograrnn. Poet Electric Mutant X. aka Y&ssin Zelestin¢ wrote and produced Ariel C¢rebral City. a thort experimentsl sci-fi film ftatuting her spoken word tnaterial. Th¢ film w&8 proitttd onto the side of tt buildiDg for its premier in the Dreamy Pla¢¢ digitsl festival's film trail in October. ' 330 total audience members for Pop Up Poets ' 6 pts perf¢)rnied at 9 Pop-up events ' 33 out of 35 Pop Up Poets audicnce members would pay to see learning dis&bled]x)ets . IIKI att¢ndcd Ariel Cerebral City premier "There aT¢ lots of people who want to mak¢ fi]rn$ but haven't had the oppotturrity. This shows that #n autistic p¢t8rn Can make a low-budget film, they don't all need to be a big Hollyw(KKI spe¢ts¢ular, It drt%nY bave to be like that." Ekctrk Mutant X "This to me repr¢s¢nts what perfomiance and the arts is abou( finding 8 way to express ernotions ideas that one has not been able to express beftsre in a rneaningful way." Audlenee M¢Jnb¢r, Pop Up Poets Sharing Our Skllls Vohmteer Training Page 4
CAROUSEL PROJECT GISTERED NUMBER: 02137755 REPORT OF THE TRUSTEES ED 2(125 We returned to struc(ur¢d, in.d¢pth volunteer training at Corous¢l from August 2024 to March 2025 after a five.year gap. We recNiied 12 new voluttieers atsd deliv¢red # scssions cov¢ring learning disabiliry awareue5$, myth-bustin& atyj boundary Settl8. Five of our attists developed leadership skills by helping dejiver the training. Task Forte Tina Dickenson, Seb Tuck, and Sarah Watson are ovr Task Force. They represent diffcrent areas of our work and meet regularly with Gar¢th and Lizzie to feed in to Carousel's artistic diTectiou. Tkn"s year, we fused on underst3nding our l¢adership roles and cxploring art. This Includ visits to Tate Modern, Dreamy Place. One Fest and Iwning about Virtual Produdion I1]n1'qUeS at Hogarth stuth.os al ext¢nd¢d i¢ality at the CCIXIi Lab in Port5nwuth "W¢ llKet to bave a say on things ittsid¢ Carousel - we knv¢ a voice in how projects are running, wlmt Can we improvt, what we should do rnore of and what we should do less off. It is a big re¥Ibly., t- Forw 2025 Cr¢411v¢ MSnds We contitiued tsTr ov¢rsee th¢ Creative Minds netwotk of l¢arning disabled artists alld the companics that support them from acro&s the county. Carousel artists w¢r¢ involved with 7 online n1eetiiS througboui the yeaT, wh¢r¢ w¢ dis¢wsed a range of topics ineluding artisÈ mentsl healiK labels and tem)inology and the cnviTonmcnl FINANCLIL REVIEW positi0ry Carousel has on¢e again completrd a S¢S5fi year of ambitious, Cre1v& and inspiring arts projLxts and events. led by the unique of our learning disabled artists and partie1ts. W¢ wntinu¢ lo navigate a ¢hallenging fu)Mling landscape. as th¢ ongoing wst of living pre&8ures make access to resources ill¢re4singly MpetitiVe. In respons¢, w¢ h&ve been actively reviewing ow fimdraisitig $trot¢gy and exploring n¢w opw)rLuDities to sustain ourprograrnrne of wor Wr are deeply grdteful for the continu¢d Supp of Art$ Council England. as a National P<>rtfolio Or88ni$8tion, wbose fiumling framework provides vits] stability, and the BFI, whose supw)rt enables the deVelopnt of the Oska Bright Film FeIVal. championitiglotiillg disabled filmmakers alld auth"¢nces across th¢ UL This y¢ar, we bave successfvlly se¢ured grants from a range of ffijnders. includkng Youth Music. clJaritrdbl¢ trusts. •)d foundations, many of wlmim have SUpP)rt us over several years. We are especilY thaDkful for the genero endowment gift from The Edward Gostling F. We thank ail funders, paikner4 and support¢rs for hclping us achieve another year of uealivity, ambitioll, and ILve5tmellt policy Ind obje¢livts Uth the McmorandLun and Articles of Association, th¢ ¢harity hab the p)wer io invest in ally way the trus¢s wish. Th¢ In]stee5, having regard to the liquidity requireuAts of Carowel ond to the reserves policy have operated a policy of kc¢ping available fiu¥Js in an interest bearing deposit account alld seek to achieve a rale of deposkt in¢res¢. Page 5
CAROUSEL PROJE EGISTERED NUMBER: 02137755 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 cll 21125 Reserves poIIcy The tnLStees believc it is itwrtatst they hold fullds as fmancial resetves tbe funds necwary lo ensure an ordered and proper closure of Carousel. The tnLStets only wish to have these financial [ery¢S al a minimwn level and will ther¢fore review the annually. Th¢ reseryes will fund.. Any redundancy payrnents du¢ to employee5. Temlinating sfflvi¢¢ contracts such &8 office rent and equipm¢Dt. Contingency sum for out$t0ttding liabilities. Accountancy, audil and oth¢r profusional costs: and The smoothing of any fluctuations in fimdraising. The Resetves Policy assumes no immedi¢ withdrawal of filltding will occur. To cer for an immediate loss of fimds. staff costs for three months sl)ould be added. Carowel is committed to wing its fimds in PUTSUit of its charitsble objectives however the TTUStees Tecogni5e the need to hold a level of r&serves that is pllent to rnttt ongoing liabilitits. In order to balance these priorili4 the t1¢¢3 b8v¢ &e¢d that it is prndtht to hold reserves that eqiiate to a minimum of 3 Jnonths and a maximum of 6 months operational costs. At 31 Match 2025 there is £125,970 in unrestricted fimds which equatos 10 3 molltlts of expetrjiture at cuttent levels. The tUre financial outlook is to pursue a policy of identified itlcreasing reserves given the uncertainty of thc currcnt eeonomic climate. This will IK undertxken through diveÈ3l"E inwme generation and by ¢ontinuing to effectiv¢ly manage r¢5oUrc. The board of tn and the management team mortitors the level of resem and takes appropriate
etioll if reserves fall outside the d¢sired range.
STRUCTiJRE GOVERNANCE AP4D MANAGEMENT Governlttg document Carowel Project is a company limited by guaTallte¢ govemed by its Memoiandum and Arti¢le$ of A5)8110n dated 4 June 1987. It is a registered as acharity with the Charity Comtnisston dated 13 July 1987. TnL8tees and Management Bre members of the Company and there ar¢ ¢urrently 15 members, eactL of whom a¢$ to contribute £1 in the event of the charitywinding up. ReclI¢t gnd *ppointment of neiw trnstee8 As set out in the Artscles of Association the chalr of the trustees is nominated and elertfd by th¢ Board of Tntees. New are norninated by twstees and rnRnagemeni and if select1 for appointment are eleeted a]uallY by the members attending the Annual General Mceting and serye for a period of thre¢ year5 before resigning and putting thctnselves fotward for re-election. OTganlMtlonal strudure The BoaTd of Trustees. which Can have up to 30 members, athninistets the charity. The board meets six times per year and when appropriate there are subrfommiltees covering developmenL finallce and audit which meet more regularly. An Executive Direttor 1$ appointed by the twstees to rnanage the day to day operations of the charity. To facilitate effective operations, the Executive Director bas delegated authority, within terms of delegatioo approved by the Itee5, for the operational matters including fiDance. emplo)ryncnt and artistic perfornnCe related activity. Inducdon tr4lnlng of new trn5tees tmstees undergo a period of induction to brief tIn on their l¢g41 obligatiotLS ¢hArity and con4wiy law, the content of the M¢morandum aDd Articles of AuocIatio th¢ committee ond d]siOn rnaking proG¢55, th¢ I8lle&S plan and re¢¢nt finattcial performance of the dwity. During the induction they rneet key rnwloy¢ and otber trustees. Tnjstees aTe obliged io attend a minimum of tsvo board meetings as an obsaverbeforebeing elected. Pa8e 6
CAROUSEL PROJECT REGISTERED NUMBEIL. 021377 REPORT OF THE TRUSTEES FOR THE ITAR ENDED 31 MARCH 21125 STRucfuRE, GOVERNANCE AND JL4NAGEMENT Rtsk management Bisk management plaDS are reviewed ea¢h year 8ilowing us to factor in ally'll¢ risks or changed circumse$. Hulth alla Safety plans atso reviewed. We have engaged a freelance eXrt w support w in r¢vi¢wiDg gur policies and pr¢dureS (¢v¢ry thre¢ years) eDsuriDg that they are fully compliam 8nd refleciing best practic¢. REFERENCE AND ADMINISrn4TIVE DETAILS Registered CotDP4Dy number 02137755 (England and Wales) Registered Cbxrity nMber 297201 Rstered office 113 Queens Road Bri8bion Fast Su$s¢x BNI 3XG D Swisthlls (rtsi8ned 31912024) S K Watson Chair CLEOffl¢y R W J Powell Ms R H&ssJn M8 K A P¢nt¢¢ost R C WatreTJ Ms A Dimitrijevi¢ Ms D Garratt (appointtd l816r20241 Ms J M Ro&8iter (appointcd IW6120241 J Wyld (resigllcd 181612024) J R ONekll {appoiui¢d 111312025) Company Seeretary M6ERHall IDd¢p¢nd¢nt Exanthier Dr Shona F Wardrop C.A. Chariot Hous¢ Limited Stal0ry AudilOTS 44 GdParade Brighton BN2 9QA BkerS Metro Bank One sthaMpt0n Row London WCIB SHA Worklug Name Page 7
CAROUSEL PROJECT RFGISTERED LYUMBEIL. 0213775 REPORT F THE TRUSTEE FOR THE YEARENDED 31 MARCH 2025 This reEx)rt IKS Eten prepared in accordanc¢ with the special Provisions of Part IS of the Companies Act 2006 r¢lating to srnall ¢ompani¢5. Approved by order of th¢ Ert)a of trustees OD............ . and siwd on its behalf by.. ssitcr. Tn¢ Pag¢ 8
INDEPENDENT EK4MINERIS REPORT TO THE TRUSTEES OF CAROUSEL PROJEcf REGISTERED NUMBER.. 02137755 IndtpendeDt ex4mlner's rtport to the trustees of Carnusel Project ('the Company) I re[ to th¢ chaTity truste¢s on my ¢xamination of th¢ a¢¢ounls of th¢ Company for th¢ y¢aT ¢nd¢d 31 Ma 2025. RespoDslblMtles basls of report As the charity's Irikstees of th¢ Company (and also its diTectors for the pwwses of company law) you are rwible for th¢ prepaNion of the accounis in accordance with the requLreniLrt8 of the Cornpanies Act 2006 {'the 21M16 A¢t'). Having satisfied mygelf that the accounts of the Company aye not ttquired to be audited under Part 16 of 2006 Act nd arc eligible for independent examinatio I rew)rt in Tespecl of my examination of your charity's accounts as callied out ujxler Section 145 of the Charities Act 2011 {'th¢ 2011 Act,). In carying out my examination I bave followed the Directions givell by tbe Charity Commission wmler Section 145{5} (b) of the 20I l Ac¢. Indep¢ndeDt examlDeVs sttemeDt SRw¢ your chity'S S income ¢xc¢eded £250.1)1)O your examiner be a member of a lied tx)dy. l ¢an ¢onfimi that l am quakn'fi¢d ty undenake the exami]Mtion b¢c8we l am a member of the Itsstlfte of Chartered ACCO]tsllts of Scotland. which is one of the ltsted Ix>di¢s. I have compleied my examination. I nfim] that no matters h&v¢ me io my allention in eortrtethon with the ¢xarnination givitig me caus¢ to b¢liev¢.' accounting records w¢r¢ not kept in resp(xi of the Cotnpany as required by Section 386 of th¢ 2006 Act. or the a£tS do not acc4)Td wilh those records. or the accounts do noi ¢tsmply with the 2eeountwg r¢quirements of Section 396 of th¢ 2006 Act oth¢r than ally r¢quirement ihai the accounts give a tsue and fair view which is a matter considered &8 part oran independe examintition. OT the accounls have not been prepared ill accordaD¢e with the methods and ptinoiples of the Statement of Re¢ollun¢nded Practice for ¥¢ounting and reporting by ¢]wits"es {appli¢able to clwiiies pr¢PaTi their accounts in ¢OnlanCe with the Financial Rewrting Stalldard applicable in the UK and Republic of Ir¢19nd (FRg 102)). I hav¢ no concerns and have cimr a¢rnss no other matterg in connertion with the examination to whi¢h attention should b¢ drnwm in this r¢port in ordcr to enable a prtsp¢r understanding of the aeeounts to be rwhe Dr Shona F Wardrop C.A. Tr Institute of Chart¢r¢d Accountants of S¢otlaThd Chariot Hous¢ Limid Statutory Auditors 44 Gralld Parade Brighton BN2 9QA Page 9
CAROUSEL PROJECT TATEMENT INCORPORATING AN INCOME AND EXPENDmniE A R THE YEAR_ENPED 31JIARCH 2025 co 2025 Totai 2024 unrtrICted nd Rethlcted funds Endowment fund COME AND ENDOWMENTS FROM Donations and l¢SleS 65,621 152.086 t.0 317.707 219.706 Charlt4bk a¢tlvitfes Clubs1Ve Arts Film and Dittl Mwic and Radio Sharing Skills Other activities Other projects- multi 18 Arts Council Englattd DYCP 44.848 95,320 51,489 4,498 44.848 95,320 51,489 4.498 7.487 10.408 173,7M 51.082 7,487 5,633 372 10,744 10,744 Other trading aclivities Investment in¢orn¢ 1.000 I,O(K) 574 768 768 Totgl 73,876 359,985 I.1mM) 533.861 462.509 EXPENDITURE ON 6.748 10,552 17JIM> 45,738 Charit2ble actfvItles clUbLive Arts Film and Digital Music and Radio Sharing Our Skills Other activities Otber projttts- multi tt*di Atts Council England DYCP 79,447 130,902 78,370 24.330 79,447 130.902 78.370 24,330 81,769 51.552 168.605 82,956 10.163 87,392 3,196 81,769 10.744 10,744 Total 88,517 334,345 422,862 449.602 NET INCOMEIIEXPENDifuRE) (14,641 } 25.&10 ioo,i) 110.999 12.907 RECONCILL4TION OF Totsl fil15 brougbi forward I40,611 16,311 156,922 144,015 TOTAL FUNDS CARRIED FORWARD 125,970 41,951 100,(M)O 267,921 156.922 The tttstes forni part of these fllkancial ststements Pa8e 10
MBER: BALANCE SHEET 31 MARCH 2025 202S Total 2024 Total Unrestricted fulld Restricted FJ)dowment funds Notes FIXED ASSETS TangAble ossets 15 448 448 672 DebrS Cash at l)aDk and in 16 1,941 130244 1,941 272.195 2.641 164,404 41.951 I.(K)0 132,185 41,951 100,0 274,136 167,045 CREDITORS Amounts falling within one year 17 16,663) {6,663) (10,795) ET CiIRRENT ASSETS 12S.S22 41.951 I.(M) 267.473 156250 TOTAL ASSETS LESS CURRENT LIABILrriES 125,970 41,951 100,000 267,921 156,922 NET ASSETS 125,970 41,951 100.OLK) 267,921 156.922 FVNDS Ulltestricd fjJn(ts: G¢n¢ral fimd Resthcd funds.. ClubslLiv¢ Arts Film and Digitsl Musi¢ and Radio Other ProjecL8. multimedia 18 125,970 140,611 3,005 26.518 12,394 11,619 1,758 34 41951 16Jll Endowment funds.. The Edward Gosiling Fund IOD.O(M> 267,921 156,922 The ¢haTktable company ts entiil¢d to exempiion from audi¢ un(kr S¢rtiou 477 of the Cow1 Act 2(M)6 for th¢ year end 31 MaTch 2025. The tnenibers have not required the cornpany to obtain an audit of its fu)ancial stat¢m¢nts for the year cndcd 31 March 2¢Y25 in accordallce with Sectioll 476 of the Companies Act 2006. The notes fomi part of these fKial staiements Page li ntinued...
CAROUSEL PROJECT EGISTERED NUMBER: 02137755J BALANCE SHEET- tonthiued 31 MARCH 2025 Th¢ tru$t¢¢$ acknowlcdg¢ th¢ir rwsibilities for (a) ensuring that the charitable comp8my keeps awounting [OrdS that Comply with Sections 386 and 387 of the Companies Aci 2006 and preparing financial statements which give a true attd fair view of the state of affairs of the cbaritable company as at the end of eaeh fiogncial year and of its sulUS or deflcit for each financial year in a¢¢ordan¢¢ with the requiremerAts of Sections 394 8nd 395 omd which thherwise comply wilh the rtyuirements of the compani A¢t 21X)6 relating to financial statements, $0 far a5 appIlble to the chaTitable company. (b) Th¢s¢ fuwicial stat¢m¢nts hav¢ b¢¢n ptfPAffd in cordanCe with the provisi(ms appli¢8ble to charttable companies subject to tbe small compani¢s regime. fmancial statements were approved by the Board of Trus¢¢¢S and authorised for issue . and wer¢ $i¢d on its behalf by.. siter- TTUStee The notes forni part of these fmancial statctuents Pw12
CAROUSEL PROJEcr CASH FLOW STATEMENT FOR THE IEAR ENDED 311 2025 2024 Notes Ca8h flows from operatlng activities Cash generated from operallons 7.023 16,311 Net cash provided by opcraiing a¢iivities 7.023 16,311 Casb tlfjws from inves¢ing adivities Interest reeeivcd 768 574 N¢t cash provided by inve8ting xtivitics 768 574 Cash flows finclg a¢dviti¢S Income attributsble endowmejkt i(K).O( Net casb PTovided by fwaTh¢ing a¢tiviti 100,IK>O CbaDg¢ in casb aDd fash equfiva]ents In the reportlng period Cash and cash equivalents 4t the begllllllng olthe reportlng perlod 107.791 16,885 164.404 147.S19 ¢asb fquivaitllts at lh¢ end of the reporting period 272,195 164.404 The not¢s fonn part of these fJr&n¢ial stat¢m¢nts Pag¢ 13
CAROUSEL PROJEcr NOTES TO THE CASH FLOW STATEMENT FOR THE ITAR ENDED 31 MARCH 2025 RECONCILIATION OF NET INCOME TO NET CASH FLDW FROM OPERATING ACTIVITIFS 2025 2024 Nel in¢tyme for the reporting perknd per the St*temertt of Financial ActAvltles) AdJustr)ents for: D¢preciatiott char8¢S Interest r¢c¢ived lttcome attributable to endoTrinent Decrease in debtors De£Tease in creditots 110,999 12,9)7 224 (768) (100,O(K)) 7 (4,132) 336 (574) 19,119 (15,477) Net cash provlded by oper4tlons 7.023 16.311 ANALYSIS OF CHANGES IN NET FUNDS At 114124 Cash flow At 3113125 Net eash Cash at bank aod in hand 164,404 107,791 272,195 164,404 107.791 272.195 Tothl 164,404 107.791 272,195 The notes forni part of these financial statements Page 14
CAROUSEL PROJEcr NOTES TO THE FINLNCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 AccouiYfiNG POLICIES Basis of preparing the fanCIal staternettts The FancIal statements of the clwity, which is a public benefit entity under FRS 102. have beell prepared Cordance with th¢ Ch1th¢S SORTr IFRS 102) 'Ac¢ounting and Rwrting by Charitics.. Statement of Recommended Practice applicable to ¢haTiU¢S preparin8 their acciiunis in a¢cordan¢e with the Financial Reporting StaThdard applicable in the UK and Republic of Ir¢[at (FRS 102) (effective l January 2019),, Finallcit] Reporting Stsndard FRS I02 The FitMn¢ial Rep)rting Standard applicabl¢ in the UK al Republic of Ireland, and th¢ Chariti¢s Act 2011. Th¢ fitwKial stat¢m¢J)ts have been prepared under the historical ¢ost conventiotL Catow¢l Pmject meets th¢ d¢fiTJitiOll of a public benefit entity under FRS 102. Assets and liabilities are iDrtidly recognised at historical cost orlr8nsaction value Unless oth5¢ 5tsted in th¢ r¢l¢vant g¢¢OUlltillg policy no(s). Thc accounts are prepared in slerling. which is the fimdion)I CUTr¢ncy of th¢ charity. Monetary amounts in these financial statements are Tound¢d to the r£arest £. Going Conct At th¢ tim¢ of approving th¢ financial statement& the tn]ste¢s b4v¢ a reasonable expectation that the charity has quai¢ resources to continue in operational existence for the for¢5¢eabk fvture and on that basis the Lharity is considered fo be a going concern. The tNstees have considered the l¢Y¢l of held and the ¢xpryted level of income a[ expenditute for 12 months from auihorising these fllHicial staiements. The budgeted inwrll¢ and exp¢Dditure is sufficient with Lhe level of r¢serv¢s for the charity to be able to coniinue as a going eoncem. The direCr8 r¢gard ally iD]paa io be shon temi rather than aff¢¢ting the compaTLy'S abi]ity to coDtinu¢ &8 t4 going ¢onc¢rn. There are no material uncertainiies atfeciing the curr¢nty¢ae$ a¢counts. Th¢ $iyif1¢4llt arwuniins polici¢5 appli¢d in thc ptepardtion of ihese financial statemenlg are set out below. Thw¢ lICi¢S hav¢ consisnIlY applied to all year5 presented unless otherwise stated. Incomt Incoming resour tncom¢ is recogmsed when.. a) the charity has entitlemellt io the fuods. b) any perf0rnW¢ ¢ondiliOMS alla¢h¢d the itrms of Incom¢ havc b¢en mel; c) it is probable the income will be r¢ctive4" d) the amouni call be meawred reliably. Donadtstts Donations are oUnt¢d for received In the ¢vent that a donation is subject fvlfilling perfornwKe conditions before the ¢haTity is entitled to th¢ fimds, the incolne is deferred until either those eonditions are nt in fijll. or their fidfilment is wholly within the control of the cha)ity and it is probable those conditions will be fvlfilled by the reporting period gcy IDcome The charity recogllises residuary legaey illeome #t the tsylier dale of re¢¢ipt or wh¢ll th¢ ¢x¢cuiOK¥ have detemiined a paymenl Can be made following the owemont of the estate's ac¢ounts, or on nolification by the execuiors that payKnellt will be Where legacie5 have been llolified to the ¢haTity. or th¢ cbariry is awar¢ of the gTanting of proba, and ihe criteria for incom¢ Olti0n have b¢¢n met, then the legacy 15 treated as a contingent asset and disclosed if n)aterial. Grant income: Income from charitable activities Income from chaTitable &ctivitses iticludes in¢ome Yeceived under contraci or whett entitlement to rn funding s subjeei to specifit conditions and is reco8lliscd as earn¢d. Grant fidIng included in this category provides fi]ndwg io support activities and is rec4)gws¢d wh¢r¢ th¢r¢ 1$ entitt¢m¢ni probability of teceipL alld the amount an be measured with sufficienl reliability. Otber fin£oD Jncome from Ètivestmenis is r¢¢ogni5ed on a receivable basis. Page 15 continued...
CAROUSEL PROJECT NOTES TO THE FINANCIAL STATEMEfas- colltlnued R THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIFS- continued Ineome Income from events is only recognised ill the year and period the event tak¢s pla. Until such time that the event tskes place any such income is deferred tt> future periods. (Xher incoming r&8ourG¢8 WmWi8es on¢ off and irregular income recognised ]ng the sanK crit¢ria for voluntary income. Expendltsre Liabilitie5 are recolSed 88 expenditure a5 soon 8S tIKr¢ 15 a legal or CL¥nstNctive obltgation committin8 the charity to that expendittwe, it is probable that a transfer of economic bencfits will be r¢quir¢d in s¢ttl¢m¢nt and the amount of the obligdti(Fn Cart b¢ mc#sured r¢liably. ExpendItt i5 accounled foT on an ac¢rual$ basi5 and bas been classified under headings that aggjtgate all Cost Yelated to the catC80ry. Where costs cannot b¢ dirtttly attributed to pthicular headiti8s they have been alliKated to activitie5 on a basis consisient with the use of Grattts offered subject to cottditiorts which have not been met at thc year end dat¢ ar¢ not1 &s a commitment but not accrued as expendibtsre. Tan¥lblc fixed •ssets Tangible fixed aksets atr stated at cost or valuation le&$ accumulated depreciatiott and accumulated impaitment loss¢s. Costs in¢lud¢s ¢osts dir¢¢tty attributsble to rnaking the awt capable of oper1n8 as intellded. Depreciation is provid¢d OD all frA[ assets at ratrs lCulated to Tit¢ off the &ss¢t OV its esti]JwtI u5efvJ ]ife at the ftsllowing rates.. Office equipment Computer equipment 3 years straight line 3 years 5traigbt IIT Only assets with a valu¢ of over £500 are eapitsiised T•xatlott Th¢ Charity is consid¢rcd to pass the tests set (wjt itt Paragraph I S¢bedule 6 Finance Act 2010 and thetefi>re it mccts the d¢finition of a charitablc company for UK Coox)Tation Tax PUses. Accordingly the Charity is potentially exem from taxation in respect of income or capitsl gains r¢¢¢ived within CAtegori¢s ¢oVeI by Chapter 3 Part I I Cooordtion Tax Act 2010 or Section 256 of the Taxation of Charg¢abl¢ Gains A¢¢ 1991 to the extent that su¢h income or gains are applied exclusively to charitable pwses. Fund 4¢couDting Genernl unrestsided are arailable for use at the discr¢tion of the tswtees in fijrtherance of the general objectives of tbe charity and which baye DOtE*en designated for otherpwioses. Designatsd fitsids ¢ompris¢ unreslricted funds that have been set aside by the Intstees for particulgr purw. The aim and use of duiptsted fimd is set out in the notes to the financial statcments. Restricted funds are ffijnds TA1th 8re to Sed in accordance with Specific restrictions imposed by the donors or which have becn rnised by the chaTity for p8rticu18r purrxKs. The of raising and administillg such fi]n(Ls are chargcd again51 the $ifiC fi]nd. EthVct fimds can be used only if the charity's total tharity fimdg (reserves) carried fonvatd less tangible fix¢d &ssets to be less than 3 months charitable expendittjre and if the charity's reserves lower than 3 months, charitsbl¢ eXdibJre at the end of the accounting year. th the 5th am)iversary from the date hereof, the ¢harity Juay use the Ine and the remaining upital of the Endowinent for aDy Pu>5¢ that further5 the rh4ritable objects of the charity. Pag¢ 16 ¢ontinued..
CAROUSEL PROJECT )TES TO THE FINANCIAL STATEMENTS. ¢ODtinued CH20 ACCOUNTING POLICIES- continued Debtors alld credStors reteiYAblelpayable Pthin year DebtOTS and creditors with no sta*d inwest rate and receivable or payable within one year are recorded at traDWtion price. DONATIONS AND LEGACIES 2025 2024 Donations Grants 102,707 215.000 4,7Q6 215,000 317,707 219.706 Grnits received, Iluded in the above, ar¢ as follows: 2025 2024 Arts Council England 215,0(X) 215,000 OTHER TRADING ACTIVITIES 2025 2024 Swnsorships i.(H)o i.o(x) VESTMENT COmE 2025 2024 Deposit aceount interest 768 574 INCOME FROM CIL4RITABLE AcrivrrIES 2025 2024 Acbvity ClubslLive Arts ClubsfLive Arts Film and Digital Film and Digitsi mC and Radio mSiC and Radio Sharing Our Skills Sharin8 Our Skills Other activiti Oth¢r activities Other projects- mul¢1 media Arts LounLil Englwml DYCP Earned income 1,683 43,165 655 9,753 7363 166.171 4.855 46227 94.230 1.560 49,929 Eamed income Grants Earned income Grants Earned incom¢ Grdnts Earned income 2.498 692 6.795 2,965 2,6611 372 10,744 214,386 241229 Page 17 contiThued...
CAROUSEL PROJECT NOTES TO THE FINANCIAL STATEMENTS- toDthiued FOR THE YEARENDED 31 MARCH 2025 INCOME FROM CHAIUTABLE ACTIVITIES- c•Dtinued Grants receivel included ID the alw are &8 follows: 2025 2024 The Chalk Cliff Trust Sir Cliff Richard Cbaritsble TTUSt SirJul¢s Thorn Chwitsbl6 Tn1 A Lacy-Tate Truyt Per¢y Bilton Charity The Charlotte Matshall Chwitable TTUSI MacAndr¢w Su&sex TThLst Garfield Weston Foundation Ernest Kleinwort Chatitabl¢ Ttust Souter Charltable Trust Brighton and Hove City Council The Fitton Trt miscellanus Youth Music W.O.Street Charitable Foundation Tall Askew Charitable Trust Babest&S Clwitsbl¢ Foundation The Bori$ Karloff Charitable Foundation Marsh Charitable Trust IA)rd Barnblg Foundation The Clo¢hwork¢rs Foundation PRS Follrtdation Douglas Arter Foundation Th¢ Edward Gostling Fund Austin and Hope Pilknton Tnkqt British Film tnstithle Noel Coward Foundation The Kobler Trust South Down Natiotjal Park Tntst The Samuel Gardner Memorial Trn$t Rix Thompson R(Fthenlw FOdatiOn The Radcliffe TTUSt The Iknnox Halmay C Tnt Youth Music Der¢k Hill FoundAtion The Kaye Charity Pe(er Harrison Foundation The Goodmall Foundati¢)n Arts Coun¢il England DYCP 4,665 4,550 1.8 250 654 453 1,050 480 350 30,000 4,900 3,0(Xl 300 3(N) 463 33,694 5(X) I,O(Ml 750 500 750 500 3.000 8250 500 2,198 i.(M)o 93,IMM) 2,500 500 5(Xl 155,4(X 300 1,345 500 5.272 2,270 2,0(K) 368 2,000 26,124 1,5Th) 10.744 207.361 224,819 Page 18
CAROUSEL PROJECT r40TES TO THE FIIYAf4CLAL STATEMENTS • CODtiDued R THE YEAR ELYDED 31 MARCH 202S RAISING FUNDS Raisillg dollA1n9 leCLeS 2025 2024 FUndSing costs 17,300 45,738 CHARABLE AcrivtTIES COSTS Grant fund]"llg of activities 15K note Direct Costs (SPK note 8) Support rt5 {$¢¢ note 10) 9) Tota]s ClubslLiv¢ Arts Film and Digital Mu5iG al Radio Sharing Out Skills Oth¢r activities Arts Council England DYCP 79,447 130,902 78,370 24,330 73.298 992 79,447 I30,2 78,370 24,330 81.769 10,744 8,471 9,752 387,339 9.752 8.471 405,562 DIRECT COSTS OF CHARITABLII ACTIVITIES 2025 2024 Staff costs EqUipent hire Rent Stsff and volullie¢r ¢xps Travel al acwmmodation Printing postage & ststionery Resowces & ton$umables 311221 315,188 1,496 39,618 8.141 13.177 1,964 6.875 5.319 804 2.818 432 {399) 336 35,337 6.394 14,080 1.467 7.818 5,112 864 1,163 486 1,727 224 Telephone & illtemet Cleaning Bank charges Miscellomeous exp$ Depr¢ciaiion 387,339 395,829 Page 19 continued...
CAROUSEL PR NOTES TO THE FINANCIAL STATEMEI¥TS- ¢ontinued FOR THE YEAR Ef4DE]i JI MARCH 2025 G114NtS PAYABLE 2025 2024 Artg Council England DYCP 9,752 io. SUPPORT COSTS costs ljher activiti¢5 8,471 Support costs. included in the alxjve. are w follows: Governanee tosts 2025 Other acttvities 2024 Total activtties Auditors, remun¢rntion Bookkeeping Accountancy at leg31 fecs 2,880 2,567 3,024 5.035 8,471 8,035 IA. riET INCOMEI(EXPETrIDITURE) Net inwmeJ(expenditure} is stated after chargiDgl(erediting)'. 202S 2024 Auditors, temun¢rntiOrt Bwkk¢eping Depreciation- owned as 2.880 2.567 224 5.035 336 12. TRUSTEES, REMUNERATION AND BENEFll8 There were no ttustees, Temuneration or ots benefits foT ibe year ended 31 M8reh 2025 nor for the y¢ar ended 31 March 2024. Tntsteu, expen$es Thue wer¢ tto twst¢es' ex paid for the year ejjded 31 March 2025 nor for tbe year ended 31 March 2024. Page 20 continud..
CAROUSEL PROJECT N(yrES TO THE FINANCIAL sfATEMENTS- eoDtlnued END 13. STAFF COSTS Staff costs during th¢ year w¢r¢ as follows". 2025 2024 Wages and salaries S(ial sccwity costs Pension costs 228,838 15,522 218.625 14,760 2Si The averdge monthly headcount was 9 (Full time equivalents 8). The charity e(trtili its key management personnel io be the ttust¢es along with the directs)r, th¢ ¥¢nior prodUC-fil and di¥itsl and the setiior producer - music alld radio. The total employee benefits of the key managemcDt persoDllel (includiDg ¢mployetrs national insurydllce contr&buti¢)Ds) W¢T¢ £88,515 (2024'.£126,969). 14. cOMPATIVEs FOR THE STATELIIENf OF FINANCIAL ACTIVITIES UJwestrIcd Restrictcd fund fid8 Total fid INCOME AND ENDOWMENTS FROM Donaiions and legacies 90,683 129,023 219,706 ChaTit4ble ¢tfvitles Club&Liv¢ Arts ilm and Digiral Music alld Radio Other attiviti Other projects- multi media 10.408 173.714 51.082 10.408 173,734 51,082 5.633 372 5.633 372 Otlw tradg activities Inv¢s¢n]eni income 574 574 Totsl 96,890 365,619 462,509 EXPENDrruRE ON Raisin¥ fid$ 9,359 36,379 45,738 Chgritable *rtlvities ctub&lLivc Arts Fthn 8nd DithI Music and Radio Sharing Our Skil Other adivities Other projccrs- mulli media 51,552 168,6115 82,956 10,163 51,552 168,605 82,956 10,163 87.392 3,196 87.392 3.196 96,751 352,851 449.602 NET INCOME Transfers between lld$ 139 (1,151) 12,768 12.907 Ne¢ movement in fund8 11,012) 13.919 12.907 Page2l eontinued...
CAROUSEL PROJECT NOTES TO THE FINAFICIAL STATEMENTS- ¢ontinM¢il FOR THE YEAR ELIDED 31 MARCH 2025 14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcrivrriES. contlnued Unrestricted Restricted Endowmcnt fwid funds fund Total fidS RECONCILIATION OF FUNDS TO1 funds brousht forward 141.623 2.392 144.015 TOTAL FUTh CARR]ID FORWARD 140,611 16,311 156,922 Is. TANGIBLE FIXED ASSETS Computer equipment equipment COST Al l April 2024 and 31 March 2025 14,990 20.507 35,497 DEPRECIATION At l ApIil 2024 Clwg¢ for year 14,318 224 20,507 34,825 224 At 31 hlarch 2025 14,542 20,507 35,049 NET BOOK VALUE At 31 Marth 2025 448 H8 At 31 Mareh 2024 672 672 i& DEBTORS: AMOUNTS FALLING DUE wrrHJN ONE YEAR 2025 2024 Trade debto 1.941 ,621 ,020 1,941 2,641 Pag¢ 22 ¢ontinued...
CAROUSEL PROJE NOTES TO THE FINANCIAL STATEMENTS- cojhtinued THE YEAR ENDED 31 tIL4RCH 2025 17. CREDITOKS: AMOUIYTS FALLIIYG DUE wrrHIN ONE YEAR 2025 2024 Tr8d¢ ¢Tcditors Social security 8T othertaxes Other creditors Accruals 5,738 (3.854) 2,996 1,783 436 3.729 3,630 6.663 10,795 I& MOVEMENf FUNDS Nei mov¢m¢ in funds At 3113125 At 114124 Unr¢strlcted fuDd$ General fillld 140,611 (14,641) 125,970 Restrleted ClubslLive Arts Fikn and Digitsl Music and Radio Other Proj&ts. multimedia 2.9(M> 11.619 1,758 34 105 14,899 10.636 3,005 26.518 12,394 16.311 25,640 41,951 Endowmeni funds Th¢ Edward Gosiling Fund 100,0 TOTAL FUNDS 156,922 110,999 267.921 Net moveme1 in funds. iluded in the abov¢ are as follows.. In¢oming resour¢es R¢sOUK Movement expend&l in funds Unre#tricted funds General fitnd 73,876 (88,517) (14.641) Restiicted fuud$ ClubslLive Ans Fi]m aud Digital Music and Radio Sharing Our Skdls Arts Council England DYCP 82,857 152,302 89,584 24.498 10.744 (82,752) (137.403) (78.948) (24.498) (10.744) 105 14,899 10.636 359,985 Endowm¢nt fuDds The Edward Gostling Fund {334,345) 25.640 100,IM)O 100,(N)o TOTAL FUNDS S33,861 (422.862) 110,999 Page 23 continued...
CAROUSEL PROJEcr OTES TO T ANCIAL STATEMENTS- wlltln] ED 31 MAR i& MOVEMEf4T IN FUNDS. tontinued CoJnparatiYe# for movementin funds Net movemcnt in fid$ Transfer5 between funds At 3113124 At 114123 Unrestrlcted fwds 141,623 l39 (1,151) 140.611 Restrleted fund8 Club&Qive Arts Fihn and Digital Music and Radio Sharing Our Skills OtherProjects- multijnedia 1,912 9,227 1,758 {163) 34 988 2,392 11,619 1,758 163 34 2,392 12,768 1,151 16,311 TOTAL FUIWS 144,015 12.907 156,922 Compatative net movement in fimds, Incl in the alxive are &8 follows.. Jn¢oming Resource5 Mov¢m¢nt expended in fimd8 Unrutritted General fvnd 96,891 (96,751) 139 Restricted funds aub&Live Arts Film and Digital Music and Radio Sharing Our Skills Other Projects- tnultitnedia 55,157 208.235 88.355 10,0 3,872 (53,245) (199.1M)8) {86,597) (10,163) (3,838) 1,912 9,227 1,758 (163) 34 365.619 1352,851) 12.768 TOTAL FUNDS 462,5ffy (449,(A)2) 12,917 Th¢ Art Coullcil England DYCP grant pf £10,744 is managed for a learning disabled artist. £9,752 of which was extml projwt COSL and ¢h¢ remaining £992 was direct cost of charitable activitie5. Page 24 continued..
CAROUSEL PROJECT NOTES TO THE FINANCIAL STATEMENTS- ¢Ontinu1 FOR THE YLIR E RCH 21125 19. RELATED PARTY DISCLOSiiRES Th¢ were no related paty tTansaciions for the year ended 31 March 2025. 211. STATUTORY llYFORMATION Carousel Projeet is a wmpony limited by guar8tttee and l]as no slw¢ capithl, No one memlxr has overall c4)Dtrol of the charity. Every member ol. the company utm1wts to contribute to th¢ assets of the cojnpany in the event of it being wound up during the time that helshe is a tn¢mber or withill on¢ yvdr #ft¢rward5, for its d¢bts and liabimies of the eompany sh amount as may be r¢quired, not exceeding in the case of any member the sum of £1. The company's reSteffed Dumber and offi¢¢ address can be foulld in the Wal WMI Administrdtiv¢ Infom)ation' seth'on of th¢ tnteeS atsnual report. Pag¢ 25
CAROUSEL PRoJKcr DETAtL.ED STATEMEN Fl ANCIAL ACTIVITIE& 2025 2024 INCOME AI¥D ENDOWMENTS Dontlons legAde4 Donations Gtants 102.707 215.0 4,706 215,1 317,707 219,706 Other trading #ctivltles Spw)nsorships i.irfJo Inve5tmeDt iti¢ome Deposit a¢count interest 768 574 CTharlt#bl¢ gctiyldes Earned income Grants 7,025 207.361 16,410 224,819 214.386 241,229 Totsl incoming resources 533.861 462,5( EXPENDrruRE RaAslng dothatlons and legacles Funthaising costs 17,300 45,738 Cbrl¢•bk *edtIEs Stsff eosts EquiFWt hiT¢ R¢nt Staff and volunteer exps Trnvel and pceon)modation Printing postage & ststionery Resourc & ¢otwlabl¢S Insuran T¢lephon¢ & internet Cleanitig Bat)k charges Misccllaneous cxpg Depreciation fixtures & fittings Arts Cowicil England DYCP 311,221 1,446 35,337 6394 14,080 1,467 7,818 5,112 864 1,163 486 1,727 224 9.752 315,188 1,496 39,618 8,141 13,177 6,875 5,319 864 2.818 432 (399) 336 397,09l 395,829 Support eosts This page O)¢s tt form part of th¢ statutory financkal 81XteMts Page 26
CAROUSEL PROJECT DETAILED STATEMENT OF FINANCLIL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2(125 2025 2024 Svpport ¢ost$ Governance costs Auditors, remuneratiou Bwkkeeping Ac¢ounvdncy and legal f¢es 2.880 2.567 3,024 5.035 8,471 8,035 Total resource& cxpend¢d 422,862 449.602 Net incojkne 110.999 12,907 This page does not forni part of the statutory fiDawial stht¢m¢nts Page 27