RAMSGATE FESTIVAL OF SOUND CIC

Company limited by guarantee

Company Registration Number:
12299149 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 1 December 2022

End date: 30 November 2023

RAMSGATE FESTIVAL OF SOUND CIC

Contents of the Financial Statements

for the Period Ended 30 November 2023

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

RAMSGATE FESTIVAL OF SOUND CIC

Profit And Loss Account

for the Period Ended 30 November 2023

2023 2022


£

£
Turnover: 70,024 59,611
Cost of sales: ( 56,597 ) ( 59,940 )
Gross profit(or loss): 13,427 (329)
Distribution costs: 0 0
Administrative expenses: ( 6,908 ) ( 7,577 )
Other operating income: 0 0
Operating profit(or loss): 6,519 (7,906)
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 6,519 (7,906)
Tax: 0 0
Profit(or loss) for the financial year: 6,519 (7,906)

RAMSGATE FESTIVAL OF SOUND CIC

Balance sheet

As at 30 November 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Cash at bank and in hand: 2,331 1,458
Investments:   0 0
Total current assets: 2,331 1,458
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 3 ( 1,009 ) ( 6,655 )
Net current assets (liabilities): 1,322 (5,197)
Total assets less current liabilities: 1,322 ( 5,197)
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 1,322 (5,197)
Members' funds
Profit and loss account: 1,322 ( 5,197)
Total members' funds: 1,322 (5,197)

The notes form part of these financial statements

RAMSGATE FESTIVAL OF SOUND CIC

Balance sheet statements

For the year ending 30 November 2023 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 19 August 2024
and signed on behalf of the board by:

Name: Gemma Dempsey
Status: Director

The notes form part of these financial statements

RAMSGATE FESTIVAL OF SOUND CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 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

RAMSGATE FESTIVAL OF SOUND CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

RAMSGATE FESTIVAL OF SOUND CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 5,012
Taxation and social security 35 635
Accruals and deferred income 974 1,008
Total 1,009 6,655

COMMUNITY INTEREST ANNUAL REPORT

RAMSGATE FESTIVAL OF SOUND CIC

Company Number: 12299149 (England and Wales)

Year Ending: 30 November 2023

Company activities and impact

The Ramsgate festival of Sound CIC celebrates local talent, the landscape and the community by programming a variety of music and cultural events in late August. Local artists and performers are hired to perform in local venues in order to create a unique experience to provide a legacy, boosting local pride and the financial economy in the local area, which is in need of financial aid. The local community suffers from a lack of funds and young people have little to aspire to. By creating at festival that is both entertaining and inspiring, with many events free to attend, we are able to shine a light on the creative industries and event production (and the jobs available in these sectors) as well as breathing new life into some of it’s beautiful but neglected architecture, therefore showcasing the local area for the benefit of the local community.

Consultation with stakeholders

Arts Council of England – we receive funding from this organisation before the event and then send them a report post event to explain the successes of the event and any lessons learned along the way, including data as required. Ramsgate Town Council (part of Thanet District Council) – we are awarded funds from the local council and in return provide them with a report to give feedback as to how the event went, highlighting the successes and any potential improvements. Kent County Council Community Fund – we are awarded funds and in return have to complete a report detailing how the event went in terms of attendance etc. Awards For All – we are awarded this grant to help the local community. High Street Regeneration - we are awarded this fund as a part of the regeneration of the local area. La Marzocco - this high end coffee machine company is our main sponsor again this year, and we provide them with data and metrics from our social media and online activity. They attend the event in order to see for themselves how well the event goes and the promotion of their brand throughout the event and across all platforms.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
19 August 2024

And signed on behalf of the board by:
Name: Gemma Dempsey
Status: Director