THE CAROUSEL NOTTINGHAM CIC

Company limited by guarantee

Company Registration Number:
11775074 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 1 February 2023

End date: 31 January 2024

THE CAROUSEL NOTTINGHAM CIC

Contents of the Financial Statements

for the Period Ended 31 January 2024

Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THE CAROUSEL NOTTINGHAM CIC

Profit And Loss Account

for the Period Ended 31 January 2024

2024 2023


£

£
Turnover: 127,904 170,535
Gross profit(or loss): 127,904 170,535
Administrative expenses: ( 128,648 ) ( 173,931 )
Operating profit(or loss): (744) (3,396)
Profit(or loss) before tax: (744) (3,396)
Profit(or loss) for the financial year: (744) (3,396)

THE CAROUSEL NOTTINGHAM CIC

Balance sheet

As at 31 January 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 6,433 10,102
Total fixed assets: 6,433 10,102
Current assets
Debtors: 4 315 2,468
Cash at bank and in hand: 2,030 3,139
Total current assets: 2,345 5,607
Creditors: amounts falling due within one year: 5 ( 13,037 ) ( 15,272 )
Net current assets (liabilities): (10,692) (9,665)
Total assets less current liabilities: (4,259) 437
Creditors: amounts falling due after more than one year: 6 ( 5,714 ) ( 9,666 )
Total net assets (liabilities): (9,973) (9,229)
Members' funds
Profit and loss account: (9,973) ( 9,229)
Total members' funds: ( 9,973) (9,229)

The notes form part of these financial statements

THE CAROUSEL NOTTINGHAM CIC

Balance sheet statements

For the year ending 31 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 30 January 2025
and signed on behalf of the board by:

Name: Martin Rayment
Status: Director

The notes form part of these financial statements

THE CAROUSEL NOTTINGHAM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Tangible assets Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: Asset class Depreciation method and rate Furniture, fittings and equipment 20% straight line Computer equipment 33% straight line

THE CAROUSEL NOTTINGHAM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 7

THE CAROUSEL NOTTINGHAM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2023 16,320 1,138 17,458
Additions 1,186 1,186
Disposals
Revaluations
Transfers
At 31 January 2024 16,320 2,324 18,644
Depreciation
At 1 February 2023 6,597 759 7,356
Charge for year 4,081 774 4,855
On disposals
Other adjustments
At 31 January 2024 10,678 1,533 12,211
Net book value
At 31 January 2024 5,642 791 6,433
At 31 January 2023 9,723 379 10,102

THE CAROUSEL NOTTINGHAM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Debtors

2024 2023
£ £
Trade debtors 2,468
Prepayments and accrued income 315
Total 315 2,468

THE CAROUSEL NOTTINGHAM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 4,760 4,000
Taxation and social security 4,592 5,725
Accruals and deferred income 2,815
Other creditors 870 5,547
Total 13,037 15,272

THE CAROUSEL NOTTINGHAM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 5,714 9,666
Total 5,714 9,666

COMMUNITY INTEREST ANNUAL REPORT

THE CAROUSEL NOTTINGHAM CIC

Company Number: 11775074 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

The Carousel supports the community by providing an affordable, well-equipped workspace for artists, freelancers, small businesses, and remote workers, making us the most budget-friendly option in Nottingham City Centre. We also host cultural events with local music promoters and run creative workshops every Wednesday to engage the public in art and promote well-being. Our members have shared that access to The Carousel has improved their mental health and helped them pursue their passions in a supportive environment.

Consultation with stakeholders

We engage our stakeholders through our annual AGM as well as offering feedback from the community through emails with our managerial team.

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £37,771. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
30 January 2025

And signed on behalf of the board by:
Name: Martin Rayment
Status: Director