THE CAROUSEL NOTTINGHAM CIC

Company limited by guarantee

Company Registration Number:
11775074 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2026

Period of accounts

Start date: 1 February 2025

End date: 31 January 2026

THE CAROUSEL NOTTINGHAM CIC

Contents of the Financial Statements

for the Period Ended 31 January 2026

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

THE CAROUSEL NOTTINGHAM CIC

Directors' report period ended 31 January 2026

The directors present their report with the financial statements of the company for the period ended 31 January 2026

Principal activities of the company

The principal activity of the company is to be a workplace, event space, and art production studio. The company provides affordable artist studios and workshops, facilitates, delivers and curates events, operates a print studio, and supports creative practitioners through exhibitions, workshops, training and community-led projects.

Additional information

The Directors’ Report includes additional information beyond the principal activities, including: The names of the directors who served during the year A summary of the company’s activities and achievements during the year Information on the company’s community and cultural work Confirmation that the report was prepared in accordance with the small companies regime



Directors

The director shown below has held office during the whole of the period from
1 February 2025 to 31 January 2026

Martin Rayment

The director shown below has held office during the period of
19 June 2025 to 31 January 2026

Benjamin Kay

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
2 September 2026

And signed on behalf of the board by:
Name: Benjamin Kay
Status: Director

THE CAROUSEL NOTTINGHAM CIC

Profit And Loss Account

for the Period Ended 31 January 2026

2026 2025


£
£
Turnover: 145,216 148,579
Gross profit(or loss): 145,216 148,579
Administrative expenses: ( 151,988 ) ( 124,358 )
Operating profit(or loss): (6,772) 24,221
Profit(or loss) before tax: (6,772) 24,221
Tax: ( 523 )
Profit(or loss) for the financial year: (6,772) 23,698

THE CAROUSEL NOTTINGHAM CIC

Balance sheet

As at 31 January 2026

Notes 2026 2025


£
£
Fixed assets
Tangible assets: 3 5,894 9,829
Total fixed assets: 5,894 9,829
Current assets
Debtors: 4 376 357
Cash at bank and in hand: 4,732 11,683
Total current assets: 5,108 12,040
Creditors: amounts falling due within one year: 5 ( 4,049 ) ( 6,484 )
Net current assets (liabilities): 1,059 5,556
Total assets less current liabilities: 6,953 15,385
Creditors: amounts falling due after more than one year: 6 ( 1,660 )
Total net assets (liabilities): 6,953 13,725
Members' funds
Profit and loss account: 6,953 13,725
Total members' funds: 6,953 13,725

The notes form part of these financial statements

THE CAROUSEL NOTTINGHAM CIC

Balance sheet statements

For the year ending 31 January 2026 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 2 September 2026
and signed on behalf of the board by:

Name: Benjamin Kay
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 2026

  • 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

    Turnover policy

    Our turnover policy states that turnover comprises the fair value of consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities, excluding VAT, and that turnover is shown net of sales/value-added tax, returns, rebates and discounts

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is charged so as to write off the cost of assets over their estimated useful lives. Furniture, fittings and equipment are depreciated at 25% on a straight-line basis, and computer equipment at 33% on a straight-line basis.

    Other accounting policies

    The accounts have been prepared on a going concern basis. Revenue is recognised when it is probable that future economic benefits will flow to the company and the amount can be measured reliably. Tax is recognised in profit or loss except where it relates to items recognised in other comprehensive income. Cash and cash equivalents comprise cash on hand and short-term deposits. Trade debtors are recognised initially at transaction price and subsequently measured at amortised cost, less any impairment. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost. Borrowings are initially recognised at fair value, net of transaction costs, and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised using the effective interest method and included in interest payable and similar charges.

THE CAROUSEL NOTTINGHAM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2026

  • 2. Employees

    2026 2025
    Average number of employees during the period 2 2

THE CAROUSEL NOTTINGHAM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2026

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2025 17,742 11,118 28,860
Additions 3,377 3,377
Disposals
Revaluations
Transfers
At 31 January 2026 17,742 14,495 32,237
Depreciation
At 1 February 2025 14,171 4,860 19,031
Charge for year 2,860 4,452 7,312
On disposals
Other adjustments
At 31 January 2026 17,031 9,312 26,343
Net book value
At 31 January 2026 711 5,183 5,894
At 31 January 2025 3,571 6,258 9,829

THE CAROUSEL NOTTINGHAM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2026

4. Debtors

2026 2025
£ £
Prepayments and accrued income 376 357
Total 376 357

THE CAROUSEL NOTTINGHAM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2026

5. Creditors: amounts falling due within one year note

2026 2025
£ £
Bank loans and overdrafts 1,763 4,260
Taxation and social security 646 554
Accruals and deferred income 1,140 1,170
Other creditors 500 500
Total 4,049 6,484

THE CAROUSEL NOTTINGHAM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2026

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

  2025
  £
Bank loans and overdrafts 1,660
Total   1,660

COMMUNITY INTEREST ANNUAL REPORT

THE CAROUSEL NOTTINGHAM CIC

Company Number: 11775074 (England and Wales)

Year Ending: 31 January 2026

Company activities and impact

The company’s activities and impact During the financial year, The Carousel Nottingham CIC continued to operate an accessible, independent creative hub in Nottingham city centre. The company provided affordable artist studios, coworking and project space, specialist print facilities, exhibition space and a flexible venue for cultural and community activity. These facilities benefited local artists, makers, designers, musicians, freelancers, promoters, community organisations and small creative businesses by giving them access to space, equipment, professional opportunities and supportive creative networks that would otherwise have been difficult or unaffordable to obtain. During the year, The Carousel hosted more than 100 grassroots events, including live music, performances, talks, workshops and community-led activities. It also presented six exhibitions, providing artists with opportunities to develop new work, exhibit publicly and reach new audiences. The company’s weekly Wednesday Workshops offered a regular and welcoming way for people to take part in creative activity, learn practical skills and meet others, regardless of their previous experience. The print studio continued to provide access to Risograph, screen-printing, lino-printing and other production processes. Thousands of prints were produced during the year, supporting artists, illustrators, community groups and independent publishers to create posters, editions, publications and promotional material at an affordable cost. This included support for publications and creative activity by GOBS COLLECTIVE. The facilities also enabled individual practitioners to develop their work over time, including artists progressing from taking part in workshops to producing printed work and presenting their own exhibitions. The company worked with educational, cultural and community partners including BA Illustration, Dot to Dot Fringe, Hockley Hustle, Second Art Fest and GOBS COLLECTIVE. It also provided a base for local independent organisations and practitioners, including an art therapy studio, barbers and other creative enterprises. These partnerships strengthened connections between artists, students, audiences, local businesses and Nottingham’s wider cultural community. Membership continued to grow during the year, helping more people access affordable workspace, peer support and opportunities for collaboration. By combining permanent studios with public events, exhibitions, workshops and production facilities, The Carousel created opportunities for people to participate at different levels, from attending an event or trying a creative process for the first time to developing a professional practice or delivering their own public programme. A significant achievement during the year was securing a ten-year lease for the company’s premises. This has protected an important community creative resource, provided greater stability for members and partner organisations, and allowed the company to plan for the longer-term development of an affordable and accessible cultural space in Nottingham. The company’s activities therefore benefited the community both through the opportunities delivered during the year and by strengthening the infrastructure needed to support Nottingham’s creative community in the future.

Consultation with stakeholders

During 2025, The Carousel held an Annual General Meeting with members and other regular users of the organisation. The AGM provided an opportunity for stakeholders to hear an update on the company’s activities, finances and future plans, and to give feedback directly to the directors about their experience of using The Carousel. Discussion included the affordability and accessibility of membership and workspace, use of the building and facilities, the programme of workshops and events, and priorities for the future development of the organisation. Maintaining The Carousel as an affordable and supportive place for artists, freelancers and small creative businesses was an important theme. Feedback from members has consistently highlighted the value of the peer network, opportunities for collaboration, improved work-life balance and reduced isolation created through the space. Feedback gathered through the AGM and through ongoing conversations with members was considered by the directors when reviewing membership arrangements, facilities, programming and the longer-term development of the organisation. The AGM also enabled members to raise concerns and suggestions directly, helping ensure that decisions about The Carousel continued to reflect the needs of the community using the space.

Directors' remuneration

Total directors’ remuneration: £27,657

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
2 September 2026

And signed on behalf of the board by:
Name: Benjamin Kay
Status: Director