Company Number:N1646743 Cliarity Number:NICIO8829 Nortli West Cnrnival Initiative (A company liniited by guarantee) Accounts for tlie year ended 31 March 2025
North West Carnival Initiative (A conipany limited by guarantee) Contents Page Tiiforniation Dircctors Rcport Independeiit Exaiiiiner's Report Siateiiient of Financial ActlVAtics Balance Sheet Notes to the accounts 8- 12
North West Carnival Initiative (A conipany limited by guarantee) Informatlon Directors and Trustees Ursulka Doherty (Resigned on 3rd June ?024) Ollie Green James Kee (Resign on 3rd Junc ?024) John Kerr Cath McBride Colleen O'Neill (Resign on 3rd June ?0?4) Fr21nk RÉltferly {Re.%ign on 3rd JunL> ?0?4) Kyle Janies Thonipson (Re%ign on 3rd June 2024) Alison Wallace Joiiah Ato% (Appointed on 3rd June 9024) Mcl Bradley (Appointed on 3rd June 9024) Doreen Murugi (Appoinled on 3rd June 2024) Company No: N1646743 Charfity No: NICI 08829 Registered office Uiiit 3 R4ilhIiior Bu%in¢.4% P&wk Bligh's Lane Dcrry BT48 OLZ Accountants McGroarty Mccafferty & Conipany Ltd Accountants & Tax Consultants 2 Carli%le Terrace Derry BT48 6JX Bankers Bank of Ireland CulmorL road Derry B T48 8JB Page I
North West Carnival Initiative (A company limited by guarantee) Directors Report The directors present their report and the financial stateniencs for the year ended 31 March ?0?5. Objectives and activities The principal activiiy of the company during the year under rLvicw was creating carnival parades dlld outdoor performances. Company Number N1646743 Directors and tl)elr Interests The director.4 of the ¢h¢irity for the purpo%es of charity law and throughoul this report are collectively referred to the direclor,4. The dircctors serving during the year and since the year end were as follows: Ursula Doherty Ollic Green Jaines Kee John Kerr Cath McBridc Colleen O'Neill Frank Rafferty Kyle Jaiiie% Thoinp.%on Ali%on W<illace Jonah Atos Mel Bradley Doreen Murugi (Re.8ign 011 3 June 2Q24) (Resign on 3 June 20?4) (Re,8ign on 3 June 2024) (Resign on 3 June ?024) (Re.sigii on 3 June 20?4) (Appointed on 3 June ?0?4) (Appointed on 3 June ?0?4) (Appoinced on 3 June ?0?4) Governing Document Thc organisation is a conipany with charitable 8talu8. The conipany was establishLd under Mcmorandum & Articles of Association which outlined the area of benefit and the objects of the charitable organisation. Rlsk Management The director% have u ri%k iiiana&7eiiient %trategy which consist% of e%lablishing %y.8teiii ot identityin&T ri%ki and mitigating such risks. RerVeS Policy North West Carnival Initative havc a policy tliat unrestricted reserves to be maintained at a level to cover six Inonih$ 8uliiry, operdtionul co.st.5 ¢ind redund¢incy. Results & Pcrform2ncc Tlie results itnd perform¢ince for the year of North West Carnival Initiative are summarised in the enclosed ccount.s. Financial review Thc fAnancial pcrformancc [.% summ1cd in Lhe cnLlu%ed aLLount%. Page 2
North West Carniv4il Initiative (A company Ilnjlted by guarantee) Directors Report .continued Directors Responsibilities Tn Relation To Tlie Financial Statements The directors of North West Carnival Initiative for the purposes of company law are responsible for preparing the Director.8' Annu1& l Report 4ind the finaiicial statenients in accordance with Jpplicable law dnd United Kingdoiii Accountiiig StlLnd<ird.4 (United Kingdoni GeneriLlly Accepted Accounting Practice). Company law requires the directors to prcpare financial statenients for each financial year, that give a true and fair view of the state of the affairs of the charitable conipany and of the incoming resources and appliciltion of resources, iiicluding the inconie and expenditure, of the charitable company for that period. Tn prep(Iring these tiiiancial st&iteineiits, the directors are required to: 8elect .4uitable llccounting policie,% (ind apply theiii consi.¥tently' obsLrve the niethods and principle% iii the chi111e.5 SORP ?019 (FRS10?)' Incike judgeinents and estiniates that are reasonable and pruden(; state whether applicable UK Accounting St<ind<irds hilve been tollowed. subjecL to any iiiateriiil departures disclosed and explained in the Financi<il .%tateiiient%' prepare ihe tinancial slalenients on the going concern biL%i% unless it is inappropriale lo presume that tlie harity will continue in business. The directors ure reipon.%ible for iiiaintiiiiiing proper accounting records whicli di%clo%e wilh re(i%onable accuracy at any tinie thc financial position of thc charity and cnables thcm to cnsure that the financial stuleineiit% coiiiply with the Coiiip¢inies Act 2006. The directors are also rebponsible for ,%at¢guarding the assets of ilie churily und hence tor liikin&7 reasonable .steps tor the prevention und detection ot. traud und other irregrularities. In so far as tlie directors are UW£Lre: -there is no relevant inforniation of wliicli the cliarilable company's independent exaaniiner is unaware, and -the director.% huve tuken all the lteps thllt they ought to have taken to niake theniselve.S iiW¢ir¢ of any relevant information and to eslablisli thuL Ihe independent exuniiner awure of thut infurm<ltion. Thi% report 18 prepared in accordance with thc special provisions of part 15 of the Companies Act 2006 relatinby to small compunies. This report was approved and authorised tor issue by the Board on 7 October 2025 and signed on its behulf by PagL' 3
North West Carnival Initiative (A company limited by guarantee) Independent examiner's report on the unaudited financial statements to the directors of North Wcst Carnival Initiative We report on the account8 of the conipany for the year ended 31 March ?0?5, which are set out on puge 5-12. Respective responsibilities of cliarity directors and examiner. As the chdrity directors YOU dre re%pon%ible tor the prepdralion ot Ihe ticcounts in accordance with the requirenicnts of the Companics Act 2006. Having satisficd oursclvcs that the charity is not subject to audit under company law, and is eligible for independent exaniinatioii, it is our respoiisibility to; exuniine the iiccount% under.4ection 65 ot the Chiiritie% Act ?008. follow the procedures laid down in thc general directions given by thc Charity Commission for Northern Ireland under section 65(9)(b) of the Ch¢irities Act 2008. stare whether particular niatters have conie to our attention. Basis of independent examiner's report We have exaniincd your charity accounts as required undcr section 65 of thc Charities Act and our examination was carried out in accordance with the general directions given by the Charity Comiiii%4ion for Northern Ireland under Section 65(9)(b) ot tlie Charities Act. The examination included ll review of ihe accounting records kept by the charfity and a comparison of tlie accounls presented with those rLcords. It also included a coIisideration of aiiy uIiusual itenis or disclosures in the accounLs. and seeking explanations from you as ¢harity dir¢ctors conc¢rning any such niattcrs. Our role is to statc whether any matcrial matters have come to our attention giving us causc to believc: that uccouiiting records w¢r¢ not kept in accordance wilh section 386 of the Companies Act 2006; that the accounts do not uccord wilh Lho%e liccounting records. that the accoui)t8 do not coniply with the accounting requirLnients of the Section .396 of the Companies Act 2006 and the methods and principlcs ot the Churities Stulenient ol Recomiiiended PracticL upplicablc to charilie,% prep¢Lriii¥ their 4Lccounts in accordunce with the Financial Reporting Standurd applicuble in the UK nd Republic ot IrelLind; that there is further inforniation needed for proper understundin&. Indcpcndent examiner's statement We have completed our exuniinution und Ii&ive no concern% in reipect of the m<ltter% li.%ted above and, in connection with the tollowin&7 directionb of the Cli<irity Comiiiission for Northern Ireland, we have found no matters thut require drdwing to your attention. l-ViALL Qhl McGr , Mccnfferty & Co Accountant5 & Tax tants race BT48 6JX Date: 7 OLtober 2025 Page 4
North West Carnival Initiative (A company limited by guarantee) Statement of Finaiicial Activities for the year ended 31 March 2025 Unrestricted ri unds Restricted rlunds 2025 2024 Income and Expenditure Incomlng Resources Granrs & Sundry Income 3,970 160,677 164,647 166,4?1 Total Tncoming Resources 3,970 160,677 164,647 166,421 Resources Ei xpended Managemeiit & Admiiiistration ?8,51.3 162,45? 190,965 147,607 Total Resources Expended 22.513 16?.45? 190,965 147,607 Net Incomlng l (Outgolng) Resources (24,543) (1 ,775) (26,318) 18.814 Tr(ln.fer betw¢en fund. (1 ,775) 1,775 Balances brought tonvard l April 2024 90,OL8 90,018 Bulunce.% curried tonvurd 31 Miirch 2025 63,700 63,700 90,018 The above ainount% relate to continuing oper<ion8 of the conipany. The company has no recognised gains and losses otliLr than those included in the results above and therefore nu .epate st<ement of total recogni5ed tr<iins and Ios5es1IUs been presented. There 1,% no difterence between the net inconiin(y resources I'ur the Ye stated above Lind their hi%lorical cost equivalenis. Page S
North West Carnival Initiative (A company limited by guarantee) Balance sheet as at 31 March 2025 2025 2024 Notes Fixed assets Tangible assets 1,985 3,740 Current assets Debiors Cash $1t bank and in hand 24,754 23,883 91,582 7?,991 115,465 Current liabilities Other creditors Accruals 6,574 4,70? 25,385 3,80? 29,187 Net current iissets 61,715 86,278 Total assets le55 current liubilities 63,700 90,018 Unrestricted 63,700 90,018 63,7QO 90,018 Page 6
North West Carnival Initiative (A company limited by guarantee) (contlnued) Iii approving the.se financial statenients as directors of the conipany we hereby confirm.. For the year ended 31 March 2025, the conipany was entitled Lo exemption under section 477 of the Companies Act 2006 relating to small conipanies. The directors have not rcquired the conipany to obtain an audit in iiccordance wilh section 476 of the Coiiipanies Act 2006. The director.s ¢i¢knowledge their responsibilities for coniplying with tlie rcquirenients of the Companies Act 2006 WILII respect to accounting records and the preparation of accounts. Tliese dccount.% have been prep¢ired in accordance with the provisions applicablc to companies subject to the sniall conipanics rcginie in accorddiice with FRSIO? SORP. The tiniliici¢il .8tiiteinents were approved and authorised for i8sue by the Board on 7 October 2025 und %igned on it.¥ behlilt by: irector Director Company Number: N1646743 Page 7
Nortli West Carnival Initiative (A company limited by guarantee) Notes to tlie accounts for tlie year ended 31 Marcli 2025 Accounting policies The principal accounting policies adopted in the preparation of the financial stateinents ¢ire set out below and have reindined unchanged from the previous year, and also hELve been consistently applied within ihe same accoui)t%. 1.1. Accounting convention The financial statenients have been prepared in accordancL With Accounting and Reporting by Charities: Statenient of Reconiiiiended Practice applicable to charities prep4iring their uccounts in ccordunce witli the FinÉLllciÉLI Reporting Stundiird applicable iii Ilie UK und Republic of Ireland Ch¢iritie,8 SORP 2019 (FRS 102), the Financial Reporting Standard applic¢1ble in the UK and Republic ot Irel&iiid (FRS 102), Conipaiiie% A¢t ?006 Lind Charities Act (Norlliern Irel&ind) 2008. 1.2. Fund accountlng Uiire.qtricted I'und.4 are aVLLilable for u,%e ¢lt the dilcretion of the director% in lurtherance of tlie general objectives of tlie charity. De%igiiated fuiids are uiiresticted funds eariiiarked by the nian¢igement coinniittee for ptiCul purpose4. Re%tricled funds %ubjected to re%triction% on their expenditure inipD%ed by ihe donor or through the teriii,% of <ippeal. 1.3. Incomlng resources All incoiiiing re.40urce% included in the %ttiteiiient of tilliillci¢il activities wlien the cliarity 1.% entitled io the income and the amount can be quantitied willi reasonable accuriicy. Tlie tollowing spccific policics re <ipplied to pticUlLif ¢c1tegorie.s of incoiiie.. Voluntary iiicome 18 received by way of grants, donations ond gift8 and is included in full in the statcmcnt ot tinancial aclivities when receivuble. Gr&ints where enlillenient is not conditional on tlie delivery of a specific performance by the charity, are recognised when the charity becoiiies unconditiondlly entitled to the gr&int. Donatcd serviccs and facilities are included ut the Viilue to the chariiy where thi.4 cun be quantilied. The value of services providcd by volunteers lias not been included. Gifts donated for resale are included as incoming rLsources within activities for gcnerating funds when they ¢ire bold. 1.4. Resources expended ExpendKture is reco&inised on an accrual basis a liability 1% incurred. Expenditure includes any VAT which C41niiot be fully recovered, and is reported as part of ihe expenditure to wliich it relutes. Chllritable cxpcnditure coinprises those costs incurred by the ChIlY in Ihe delivery ut its activilies and ervice% for it8 beneficiaries. Tt includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. PagL' 8
North West Carnival Initiative (A company limited by guarantee) Notes to tlie accounts for tlie year ended 31 March 2025 1.5. Tangible fixed assets and depreciation Tangible tixed asscls drc &tciled at cosl le&s depreciation. Depreciation ]% provided at rdt¢.4 Ciil¢ulilted to wrile off the co%t or valuiition les% residual value of each assct ovcr its expected useful lite, as follows: Equipmcnt 25% Straight Line Unrestricted Restricted Total Tncome Tncome Funds 2025 2025 2025 Total Funds 2024 Inconilng ROurceS VoluntAr Income Restricted Tnconie Unrestricted inconie 160.677 160,677 3,970 135,992 -10,429 3,970 3,970 160.677 164,647 166.421 (i) Restricted fl unds Funds received which are emarked by the Funder f'or %pecitic purposes. Such purpo.les arc within the overall ainis of the organisation. (li) Unrestricted Funds Fund8 which are expendable at thc discrction of the conipany in turtlierance ot thc aims of the charity. In <iddition funds may be heLd in order to finance capital invcstmcnt and workiiig Cilpitcll. PagL' 9
North West Carnival Initiative (A company limited by guarantee) Notes to the accounts for tl)e year ended 31 March 2025 Resources Expended Unrostrlcted Funds Restricted Funds Total 2025 Total 2024 Management & Administration Wages & salaries Freelance costs Slul't pen8ion costs Eveiit% expeii8e. Cleaning Tr¢ivelliiig expeii4e.8 Relit & waler churges DSDC- Sla Volunteer ¢o%t In.qurance Light & heat Priiitiiig & stationery Repairs & niaiiitenancc Telephone Sundry expense Accountancy Bank chse Depreciation ol, fixtures & fitting8 9,038 25,000 20,1?5 34,038 ?0,125 6,57.3 92,943 85 85 17,-177 5,827 216 3,735 3,424 240 2,553 739 19,590 2,30? 66,247 47 6,573 5,325 87,618 85 85 17,377 18,35? 5,8?? ?16 3,735 3,4?4 240 289 2,812 2.992 430 1.093 657 489 1,033 160 1,755 739 1,090 165 1,090 165 1,755 1,755 ?8,513 16?,45? 190,965 147,607 Net Tncoming R¢sourLes 2025 2024 Net inconiing resource& has been urrived ut £Ltler charging. Depreciation 1,755 1,755 Page 10
North West Carnival Initiative (A company limited by guarantee) Notes to the accounts for the year ended 31 Marcli 2025 Staff note The average nuinber ot perboiib eniployed by the conipany during the year amounted to l (20?4 - 1). The aggregate payroll co%t% incurred during the year were: 31 Marcli 2025 31 March 2024 Wdge% and %tildrie Pensioii contributions 34,038 6,573 ?9,359 40,611 31,661 TaxAtIoii Thcre is no charge to taxation as the conipany has charitable status. Tangible a&sets Equlpment Tolal Cost At l April 2024 Ll,700 11,700 At 31 March 2025 11,700 11,70Q Deprcclatlon At l April 2024 Chigre for th¢ year 7,960 1,755 7,96Q 1,755 At 31 March 2025 9,715 9,715 Net book values At 31 Murch 2025 1,985 1,985 At 31 March 2024 3,74Q Debtors 2025 2024 Grants due Prepayments and accrued income 22,400 1.483 1,520 24,754 23.883 Page 11
North West Carnival Initiative (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2025 Current liablliti 2025 2024 Taxcs and social sccurity costs Other creditors Deferred income Accruals 508 128 5,938 4,702 508 577 24,300 29,187 Movonients in Funds At l Aprll Incomlng Outgoing Transfer 2024 rOurceS resource5 At 31 Morcli 2025 Restricted funds: Total re.4tricted tund l ()O.C)77 (1 ()?,452) 1,775 unre.stricted funds.. Total unrestricted funds 90,018 3,970 (?8,513) (1,775) 63,700 90,018 164,647 190,965 63,700 Purposes of Restrlcted fi unds Restricted grants awardcd to thc charity is providcd to covcr tlic corL objLcts as explained in directors report. Limited by Guurantcc The company is liniited by guarantee and docs not havc a share capital. 10. Rclatcd Purty Transactions There were 110 related party transactions in the year under review. 11. Controlling intcrest Ultimate control of the charitable conipany lies with Ihe directors. Page 12