CULINARY MEDICINE UK C.I.C.

Company limited by guarantee

Company Registration Number:
11345461 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2022

Period of accounts

Start date: 1 November 2021

End date: 31 October 2022

CULINARY MEDICINE UK C.I.C.

Contents of the Financial Statements

for the Period Ended 31 October 2022

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

CULINARY MEDICINE UK C.I.C.

Balance sheet

As at 31 October 2022

Notes 2022 2021


£

£
Current assets
Debtors: 3 1,801 4,020
Cash at bank and in hand: 53,536 50,552
Total current assets: 55,337 54,572
Creditors: amounts falling due within one year: 4 ( 53,064 ) ( 54,862 )
Net current assets (liabilities): 2,273 (290)
Total assets less current liabilities: 2,273 ( 290)
Total net assets (liabilities): 2,273 (290)
Members' funds
Profit and loss account: 2,273 ( 290)
Total members' funds: 2,273 (290)

The notes form part of these financial statements

CULINARY MEDICINE UK C.I.C.

Balance sheet statements

For the year ending 31 October 2022 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 26 October 2023
and signed on behalf of the board by:

Name: Vincent KELLY
Status: Director

The notes form part of these financial statements

CULINARY MEDICINE UK C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2022

  • 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

    Income and expenses are included in the financial statements as they become receivable or due.

    Other accounting policies

    1 Accounting policies Company information Culinary Medicine UK C.I.C. is a private company limited by guarantee incorporated in England and Wales. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ. 1.1 Accounting convention These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the directors have a reasonable expectation that given the continued support of the directors that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Income and expenditure Income and expenses are included in the financial statements as they become receivable or due. Expenses include VAT where applicable as the company cannot reclaim it. 1.4 Research and development expenditure Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. 1.5 Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.6 Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 1.7 Taxation The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit. 1.8 Government grants Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

CULINARY MEDICINE UK C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 4 4

CULINARY MEDICINE UK C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2022

3. Debtors

2022 2021
£ £
Trade debtors 1,801 4,020
Total 1,801 4,020

CULINARY MEDICINE UK C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2022

4. Creditors: amounts falling due within one year note

2022 2021
£ £
Trade creditors 7,315 1,533
Taxation and social security 601 0
Other creditors 45,148 53,329
Total 53,064 54,862

COMMUNITY INTEREST ANNUAL REPORT

CULINARY MEDICINE UK C.I.C.

Company Number: 11345461 (England and Wales)

Year Ending: 31 October 2022

Company activities and impact

The CIC was established to create a learning environment that is more in tune with the social, environmental, cultural, and medical challenges that influence food choice. Benefits include:- improve conversations around food and health- supporting a culture of non-judgement and collaboration- promoting diversity and healthy debate with a shared goal of achieving sustainable, affordable, equitable and healthy food for all

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

Included within Consultancy costs are fees charged by the directors.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
26 October 2023

And signed on behalf of the board by:
Name: Vincent KELLY
Status: Director