MEDICINE EVENTS C.I.C.

Company Registration Number:
12163886 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

MEDICINE EVENTS C.I.C.

Contents of the Financial Statements

for the Period Ended 31 December 2023

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

MEDICINE EVENTS C.I.C.

Directors' report period ended 31 December 2023

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

Jenna Ansell
Remi Aruna Olajoyegbe


The director shown below has held office during the period of
1 January 2023 to 13 September 2023

Benjamin Christie


The director shown below has held office during the period of
17 September 2023 to 31 December 2023

Zak Avery


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
25 September 2024

And signed on behalf of the board by:
Name: Jenna Ansell
Status: Director

MEDICINE EVENTS C.I.C.

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 1,121,619 517,394
Cost of sales: ( 984,316 ) ( 377,586 )
Gross profit(or loss): 137,303 139,808
Distribution costs: 0 0
Administrative expenses: ( 176,125 ) ( 128,056 )
Other operating income: 0 0
Operating profit(or loss): (38,822) 11,752
Profit(or loss) before tax: (38,822) 11,752
Tax: 1,507 ( 1,507 )
Profit(or loss) for the financial year: (37,315) 10,245

MEDICINE EVENTS C.I.C.

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 1,867 3,152
Tangible assets: 4 4,649 6,746
Investments:   0 0
Total fixed assets: 6,516 9,898
Current assets
Stocks:   0 0
Debtors: 5 906,782 15,650
Cash at bank and in hand: 108,694 82,762
Investments:   0 0
Total current assets: 1,015,476 98,412
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 6 ( 954,766 ) ( 3,769 )
Net current assets (liabilities): 60,710 94,643
Total assets less current liabilities: 67,226 104,541
Creditors: amounts falling due after more than one year: 7 ( 101,854 ) ( 101,854 )
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): (34,628) 2,687
Capital and reserves
Called up share capital: 1 1
Share premium account: 0 0
Other reserves: 0 0
Profit and loss account: (34,629 ) 2,686
Total Shareholders' funds: ( 34,628 ) 2,687

The notes form part of these financial statements

MEDICINE EVENTS C.I.C.

Balance sheet statements

For the year ending 31 December 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 25 September 2024
and signed on behalf of the board by:

Name: Jenna Ansell
Status: Director

The notes form part of these financial statements

MEDICINE EVENTS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 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

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Plant & machinery3 Years Computer equipment3 Years

    Intangible fixed assets amortisation policy

    Intangible fixed assets are included at cost less accumulated amortisation.

MEDICINE EVENTS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

MEDICINE EVENTS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2023 0 6,355 6,355
Additions 0 0 0
Disposals 0 0 0
Revaluations 0 0 0
Transfers 0 0 0
At 31 December 2023 0 6,355 6,355
Amortisation
At 1 January 2023 0 3,203 3,203
Charge for year 0 1,285 1,285
On disposals 0 0 0
Other adjustments 0 0 0
At 31 December 2023 0 4,488 4,488
Net book value
At 31 December 2023 0 1,867 1,867
At 31 December 2022 0 3,152 3,152

MEDICINE EVENTS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 0 6,898 0 2,390 0 9,288
Additions 0 35 0 1,122 0 1,157
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 31 December 2023 0 6,933 0 3,512 0 10,445
Depreciation
At 1 January 2023 0 2,002 0 540 0 2,542
Charge for year 0 2,310 0 944 0 3,254
On disposals 0 0 0 0 0 0
Other adjustments 0 0 0 0 0 0
At 31 December 2023 0 4,312 0 1,484 0 5,796
Net book value
At 31 December 2023 0 2,621 0 2,028 0 4,649
At 31 December 2022 0 4,896 0 1,850 0 6,746

MEDICINE EVENTS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

2023 2022
£ £
Trade debtors 906,782 15,650
Prepayments and accrued income 0 0
Other debtors 0 0
Total 906,782 15,650
Debtors due after more than one year: 0 0

MEDICINE EVENTS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 918,878 474
Taxation and social security 19,527 2,288
Accruals and deferred income 12,497
Other creditors 3,864 1,007
Total 954,766 3,769

MEDICINE EVENTS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

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

2023 2022
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Other creditors 101,854 101,854
Total 101,854 101,854

COMMUNITY INTEREST ANNUAL REPORT

MEDICINE EVENTS C.I.C.

Company Number: 12163886 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

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.

Consultation with stakeholders

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.

Directors' remuneration

Total renumeration paid to two directors was £55,000.

Transfer of assets

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