for the Period Ended 31 December 2023
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2023
Directors
The directors shown below have held office during the whole of the period from
1 January 2023
to
31 December 2023
The director shown below has held office during the period of
1 January 2023
to
13 September 2023
The director shown below has held office during the period of
17 September 2023
to
31 December 2023
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2023 | 2022 | |
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£ |
£ |
Turnover: |
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Cost of sales: |
(
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(
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Gross profit(or loss): |
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Distribution costs: |
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Administrative expenses: |
(
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(
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Other operating income: |
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Operating profit(or loss): |
( |
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Profit(or loss) before tax: |
( |
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Tax: |
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(
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Profit(or loss) for the financial year: |
( |
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As at
Notes | 2023 | 2022 | |
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£ |
£ |
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Called up share capital not paid: |
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Fixed assets | |||
Intangible assets: | 3 |
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Tangible assets: | 4 |
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Investments: |
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Total fixed assets: |
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Current assets | |||
Stocks: |
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Debtors: | 5 |
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Cash at bank and in hand: |
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Investments: |
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Total current assets: |
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Prepayments and accrued income: |
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Creditors: amounts falling due within one year: | 6 |
(
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(
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: | 7 |
(
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(
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Provision for liabilities: |
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Accruals and deferred income: |
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Total net assets (liabilities): |
( |
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Capital and reserves | |||
Called up share capital: |
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Share premium account: |
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Other reserves: |
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Profit and loss account: |
( |
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Total Shareholders' funds: |
( |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2023
Basis of measurement and preparation
Tangible fixed assets depreciation policy
Intangible fixed assets amortisation policy
for the Period Ended 31 December 2023
2023 | 2022 | |
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Average number of employees during the period |
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for the Period Ended 31 December 2023
Goodwill | Other | Total | |
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Cost | £ | £ | £ |
At 1 January 2023 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 December 2023 |
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Amortisation | |||
At 1 January 2023 |
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Charge for year |
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On disposals |
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Other adjustments |
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At 31 December 2023 |
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Net book value | |||
At 31 December 2023 |
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At 31 December 2022 |
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for the Period Ended 31 December 2023
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 January 2023 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 December 2023 |
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Depreciation | ||||||
At 1 January 2023 |
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Charge for year |
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On disposals |
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Other adjustments |
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At 31 December 2023 |
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Net book value | ||||||
At 31 December 2023 |
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At 31 December 2022 |
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for the Period Ended 31 December 2023
2023 | 2022 | |
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£ | £ | |
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Total |
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Debtors due after more than one year: |
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for the Period Ended 31 December 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Total |
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for the Period Ended 31 December 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Bank loans and overdrafts |
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Amounts due under finance leases and hire purchase contracts |
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Other creditors |
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Total |
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Medicine Events C.I.C is a company primarily set up to be the legal body for the Medicine festival and associated year-round events. Embedded in the company’s value system is the importance of creation of community and engendering a culture of belonging. Medicine is a five-day, 8000-person event, which was first held at the Wasing Park Estate in Berkshire from August 27th-31st 2020. The event has been an annual event – with 2024 as its 5th consecutive year. The next gathering due to take place in summer 2026, as 2025 will be a fallow year for the festival. Programming is focused on the following areas of curation: family, wellbeing, activation/education, food, music, art, ancient wisdoms, and performance. There are no sales of alcohol at the event and the emphasis is on good living. The content is solution-based, innovative and pioneering. The focus of the main gathering is to share skills and knowledge with one another, and to provide a space and forum to come together to learn from each other. Each participant is asked what they wish to contribute to the gathering and community in advance and can be involved as much as they choose to be. The intention is to encourage participation, activation, immersion, and dynamic dialogue. In addition to the large annual event, on a year-round basis the community forms a supportive network which continues to evolve as it organically grows and learn what it means to create community. We are firmly confident that hundreds of innovations, businesses and collaborations have sprung from connections made through Medicine. Medicine has also created a deep web of support and inspiration for all members of the community, which is especially important in these deeply challenging times. The organically grown social media following is testament to peoples’ engagement with the project and community around it. As of September 2024, we have a clean mailing list of 50,000 people, an Instagram following of 175,000 people and 25,000 people on Facebook. All these are authentic community members in both the virtual world and physical. There is no criteria for participation and everyone is welcome to be a part of Medicine. The community’s youngest members are babies and the oldest in their 80s; it is a truly family orientated project in which everyone is encouraged to be a stakeholder. More than this we are focused on presenting a diverse platform of speakers and facilitators, so as many sectors of society as possible can be given a voice. There is a men’s space, women’s’ space, queer space, a venue for people of colour, a family area and an elders space. The whole project is also guided by regenerative principles – we aim to reduce the amount of waste going to landfill as far as possible, to work in harmony with the land and to educate people on how we can live with a smaller environmental footprint on the earth. The festival site itself is owned by one of the festival’s founders and as a result we can build and restore the land year round with the help of the Medicine Community. To date £100,000 has been donated to a variety of charities and organisations across the world from the profits from the event. Local businesses in the Aldermaston area also benefit from Medicine. Hotels, B&Bs, pubs etc receive business from people not wanting to stay on the site over the event and other related annual events. Food and hospitality businesses also benefit from increased trade. We also rely on local businesses for services such as taxis, toilets and waste, as well as for building materials, and hiring items such as structures and kitchens. We also employ local people on the event as much as possible.
The Stakeholders of Medicine comprise of a Council of 7 people. These include the original project founders, the Directors, and 4 of the investors in the project, as well as other advisory professionals from different industries. The 2 investors who are not part of the Council are regularly contacted and given updates on the business. The Council meet once each week to discuss all pertinent matters of business and to make decisions on appropriate courses of action for all agenda items. For each Council meeting documents are circulated a week in advance for review, an agenda is made, full notes taken, agreements and actions are decided upon, and then the meeting notes circulated after each meeting. The stakeholders therefore have a regular opportunity for consultation and consequent actions are taken on the basis of the outcomes of the meetings.
Total renumeration paid to two directors was £55,000.
No transfer of assets other than for full consideration
This report was approved by the board of directors on
25 September 2024
And signed on behalf of the board by:
Name: Jenna Ansell
Status: Director