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
St*tement OfFthand￿ Actmltes
io
Balante Sbeet
11 to 12
Cmb Flow Ststement
13
No¢es to the Cs8h TrTrJw Ststement
14
Not¢$ ts the FknaDd*l 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 adopt￿1 the provisions of
Accounting and Rq>orting by Charities.. Ststement of ReCo￿ded 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 cre￿Ing guidelines for m￿U[]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 tI￿ough th¢
ong(Tring d¢vdopm¢nt of our pl0￿ering 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 T￿tIonallY 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¢tall￿1 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 op￿ttunitieS 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 screen￿venUeS across the UK, including n¢w partherships with Northampton Film Festival
and Keswick Filtn Festival. and renewed rel￿10￿ships with SQIFF and Borderlines.
' Keached 3,178 in-person attendees 2nd 1,549 online admissions.
. Th¢ SQIFF screening was a sold-out event, d¢s￿ibed 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 th￿n
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 ViT￿l engag¢ment nationwide, the project partnered with ctnemas,
festivats. and netwo￿8 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 $patitiing commissioning. traiDiD&
advocacy, and acce&sibility improvements in the s(*¢OT.
"oska Bright been hugely siipportiye and he]pfvl in training our staff team aThJ steering our access ¢onsultxn¢y.
Daniell¢ and Tina demonstrated the power of small but cffective changes to Anjprove the way our screenings and front of
house welcome ¢an iignificantiy improve learning disabled and neur￿lIverse customers exp¢rience aDd cnjoyment of
our spa￿. Oska Bright training and CO￿$u1tancY have helped us feel hopeful that we can make odjustments that c#
rallymake a differencelrf Julia AndreW￿Cli￿or￿ 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 prOd￿tiOn {Atia] Cerebral City) shoWC￿d 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 showc*tng work by artist$ and they ryre5etst 1$ incredibly ]m￿rtant 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' J*ml* WY1￿ Dlrector, Dre*my 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$50¢ks SEN ￿h0O15 to ruD workshops
and a thLent search. This led to the fom)ation of two new baDds-Th¢ R¢d Hot FuDky Monk% aud crt%h LQUtse•who wroie
original songs and debul¢d liv¢ at Th¢ R(Kk Hou8¢ ID Brigbion in March 2025. showcasing the re￿On'5 thriving l¢arniD8
disabled music scene.
' Over 150 learning disabled stydents engagcd in workshops across two SEN schools.
' S¢v¢n young musi¢Èans wer¢ rwruit¢d fornied ttvo original balth.
' The bands perfom)ed their debui gig in front of145 attendees at Tho R(J¢k Hous¢, Brighto
'I caTJ't thank you enough for the amazing exrtTience and OppOrt￿lty ihat was given to Sam , last night was ama2ing."
Tlna Webb- Sam's cr*sh course
"Thank you so much to you your team for giving pip and bis mates the ¢lwic¢ to perforni in Such 4 wonderfuL
supportive setting! It re￿lY is one of the best things that ha8 ever happened to bim and we canl thank you ¢nouglL' Tb¢
Red Hot Funky MoDks: Tim G4rland- Pipls Dad
Music Sector Development
Carousel parts￿red with Univthsity of the Arts London {UAL) and Media Tracks to SUPFrfJrt learning4li5abled m￿51clan$.
UAL'S Music Pr(Kl￿1]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 S￿￿ents aDd a twh¢r participat￿1 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 eDWW￿lng." 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 mixcl0￿A.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 gU￿t perf0m￿S 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 Rel￿ed 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 W￿￿1ng on Postcards From My Seaside Town continued to develop crealive work, in
partnership with dyeamthinkspeak. We reflected on research rot￿u¢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, Cokncreat￿l six original songs inspired by local
histoThes and participants, experiences of their hoMeto￿lL8. 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. M￿1¢ 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 p￿ts 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 Settl￿8. 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 f￿used on underst3nding our
l¢adership roles and cxploring art. This Includ￿ visits to Tate Modern, Dreamy Place. One Fest and Iwning about
Virtual Produdion I￿1]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 n1eetii￿S 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, Cre￿1v& and inspiring arts projLxts and events. led by
the unique of our learning disabled artists and partie1￿￿ts.
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 deVelop￿￿nt of the Oska Bright Film
Fe￿IVal. 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 especi￿lY 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 requireu￿Ats 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$t0ttding liabilities.
Accountancy, audil and oth¢r profusional costs: and
The smoothing of any fluctuations in fimdraising.
The Resetves Policy assumes no immedi￿¢ withdrawal of filltding will occur. To c￿er for an immediate loss of fimds.
staff costs for three months sl)ould be added.
Carowel is committed to wing its fimds in PUTSUit of its charitsble objectives however the TTUStees Tecogni5e the need to
hold a level of r&serves that is pll￿ent to rnttt ongoing liabilitits.
In order to balance these priorili4 the t￿￿1¢¢3 b8v¢ &￿e¢d that it is prndtht to hold reserves that eqiiate to a minimum
of 3 Jnonths and a maximum of 6 months operational costs.
At 31 Match 2025 there is £125,970 in unrestricted fimds which equatos 10 3 molltlts of expetrjiture at cuttent levels.
The ￿tUre financial outlook is to pursue a policy of identified itlcreasing reserves given the uncertainty of thc currcnt
eeonomic climate. This will IK undertxken through diveÈ3l￿"￿E inwme generation and by ¢ontinuing to effectiv¢ly
manage r¢5oUrc￿. The board of tn￿ and the management team mortitors the level of resem and takes appropriate
#etioll if reserves fall outside the d¢sired range.
STRUCTiJRE GOVERNANCE AP4D MANAGEMENT
Governlttg document
Carowel Project is a company limited by guaTallte¢ govemed by its Memoiandum and Arti¢le$ 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.
Rec￿lI￿¢￿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 Tn￿tees.
New are norninated by twstees and rnRnagemeni and if select￿1 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 I￿￿tee5, for the
operational matters including fiDance. emplo)ryncnt and artistic perforn￿nCe related activity.
Inducdon tr4lnlng of new trn5tees
tmstees undergo a period of induction to brief tI￿n 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¢ I￿8￿lle&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 circums￿e$. Hulth
alla Safety plans atso reviewed. We have engaged a freelance eX￿rt w support w in r¢vi¢wiDg gur policies and
pr￿¢dureS (¢v¢ry thre¢ years) eDsuriDg that they are fully compliam 8nd refleciing best practic¢.
REFERENCE AND ADMINISrn4TIVE DETAILS
Registered CotDP4Dy number
02137755 (England and Wales)
Registered Cbxrity n￿Mber
297201
R￿stered office
113 Queens Road
Bri8bion
Fast Su$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 Sta￿l0ry AudilOTS
44 G￿dParade
Brighton
BN2 9QA
B￿kerS
Metro Bank
One s￿thaMpt0n 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 st*temeDt
SRw¢ your ch￿ity'S ￿S income ¢xc¢eded £250.1)1)O your examiner be a member of a li￿ed tx)dy. l ¢an ¢onfimi
that l am quakn'fi¢d ty undenake the exami]Mtion b¢c8we l am a member of the Itsstlft￿e 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¢ Limi*d 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
unr￿trICted
nd
Rethlcted
funds
Endowment
fund
COME AND
ENDOWMENTS FROM
Donations and l¢S￿leS
65,621
152.086
t￿.0
317.707
219.706
Charlt4bk a¢tlvitfes
Clubs￿1Ve Arts
Film and Di￿ttl
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
clUb￿Live 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 fil￿15 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
Deb￿rS
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
Ulltestric*d fjJn(ts:
G¢n¢ral fimd
Resthc*d 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 f￿￿Kial 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 su￿lUS 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 appIl￿ble 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 fi￿ncl￿g 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 f￿anCIal staternettts
The F￿ancIal statements of the clwity, which is a public benefit entity under FRS 102. have beell prepared
Cordance with th¢ Ch￿1th¢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 oth￿5¢ 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
direC￿r8 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¢ $iyif1¢4llt arwuniins polici¢5 appli¢d in thc ptepardtion of ihese financial statemenlg are set out below.
Thw¢ ￿lICi¢S hav¢ consis￿nIlY applied to all year5 presented unless otherwise stated.
Incomt
Incoming resour
tncom¢ is recogmsed when.. a) the charity has entitlemellt io the fuods. b) any perf0rnW￿¢ ¢ondiliOMS alla¢h¢d
the itrms of Incom¢ havc b¢en mel; c) it is probable the income will be r¢ctive4" d) the amouni call be
meawred reliably.
Donadtstts
Donations are ￿oUnt¢d for ￿ received In the ¢vent that a donation is subject ￿ fvlfilling perfornwKe
conditions before the ¢haTity is entitled to th¢ fimds, the incolne is deferred until either those eonditions are n*t
in fijll. or their fidfilment is wholly within the control of the cha)ity and it is probable those conditions will
be fvlfilled by the reporting period
gcy IDcome
The charity recogllises residuary legaey illeome #t the tsylier dale of re¢¢ipt or wh¢ll th¢ ¢x¢cuiOK¥ have
detemiined a paymenl Can be made following the owemont of the estate's ac¢ounts, or on nolification by the
execuiors that payKnellt will be Where legacie5 have been llolified to the ¢haTity. or th¢ cbariry is awar¢ of
the gTanting of proba*, and ihe criteria for incom¢ ￿O￿lti0n have b¢¢n met, then the legacy 15 treated as a
contingent asset and disclosed if n)aterial.
Grant income: Income from charitable activities
Income from chaTitable &ctivitses iticludes in¢ome Yeceived under contraci or whett entitlement to rn funding
s subjeei to specifit conditions and is reco8lliscd as earn¢d. Grant fi￿dIng included in this category provides
fi]ndwg io support activities and is rec4)gws¢d wh¢r¢ th¢r¢ 1$ 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 reco￿lSed 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¢ not￿1 &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 oper￿1n8 as intellded.
Depreciation is provid¢d OD all f￿rA[ assets at ratrs ￿lCulated to ￿Tit¢ off the &ss¢t OV￿ its esti]Jwt￿I 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 PU￿￿ses. Accordingly the Charity is
potentially exem￿ from taxation in respect of income or capitsl gains r¢¢¢ived within CAtegori¢s ¢oVe￿I 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 TA￿1th 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 administ￿illg such fi]n(Ls
are chargcd again51 the $￿ifiC fi]nd.
EthV￿c￿t 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¢ eX￿dibJre at the end of the accounting year. th the 5th am)iversary from the date hereof, the ¢harity
Juay use the In￿￿e 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 P￿thin 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, I￿luded 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
m￿￿C and Radio
m￿SiC 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 Tn￿1
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 Tr￿t
miscellan￿us
Youth Music
W.O.Street Charitable Foundation
Tall Askew Charitable Trust
Ba￿best&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 FO￿datiOn
The Radcliffe TTUSt
The Iknnox Halmay C Tn￿t
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 dollA1￿n9 le￿CLeS
2025
2024
FUnd￿Sing costs
17,300
45,738
CHAR￿ABLE AcrivtTIES COSTS
Grant
fund]"llg of
activities
15K note
Direct
Costs (SPK
note 8)
Support
rt5 {$¢¢
note 10)
9)
Tota]s
ClubslLiv¢ Arts
Film and Digital
Mu5iG al￿ Radio
Sharing Out Skills
Oth¢r activities
Arts Council England DYCP
79,447
130,902
78,370
24,330
73.298
992
79,447
I30,￿2
78,370
24,330
81.769
10,744
8,471
9,752
387,339
9.752
8.471
405,562
DIRECT COSTS OF CHARITABLII ACTIVITIES
2025
2024
Staff costs
EqUip￿ent hire
Rent
Stsff and volullie¢r ¢xps
Travel al￿ acwmmodation
Printing postage & ststionery
Resowces & ton$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.
cOMPA￿TIVEs FOR THE STATELIIENf OF FINANCIAL ACTIVITIES
UJwestrIc￿d
Restrictcd
fund
fi￿d8
Total
fi￿d
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 trad￿g activities
Inv¢s¢n]eni income
574
574
Totsl
96,890
365,619
462,509
EXPENDrruRE ON
Raisin¥ fi￿d$
9,359
36,379
45,738
Chgritable *rtlvities
ctub&lLivc Arts
Fthn 8nd Di￿thI
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
fi￿dS
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 moveme￿1 in funds. i￿luded 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 fi￿d$
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- ¢Ontinu￿1
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 utm1w￿ts 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 s￿h amount as may be r¢quired, not exceeding in the case of any member the sum of £1.
The company's re￿Steffed Dumber and offi¢¢ address can be foulld in the Wal WMI Administrdtiv¢ Infom)ation'
seth'on of th¢ tn￿teeS atsnual report.
Pag¢ 25

CAROUSEL PRoJKcr
DETAtL.ED STATEMEN
Fl
ANCIAL ACTIVITIE&
2025
2024
INCOME AI¥D ENDOWMENTS
Don*tlons 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
Cb*rl¢•bk *ed￿tIEs
Stsff eosts
EquiFWt hiT¢
R¢nt
Staff and volunteer exps
Trnvel and pceon)modation
Printing postage & ststionery
Resourc￿ & ¢otw￿labl¢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 t￿t form part of th¢ statutory financkal 81XteM￿ts
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