MY FESTIVAL CIC

Company Registration Number:
10751700 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 1 June 2023

End date: 31 May 2024

MY FESTIVAL CIC

Contents of the Financial Statements

for the Period Ended 31 May 2024

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

MY FESTIVAL CIC

Profit And Loss Account

for the Period Ended 31 May 2024

2024 2023


£

£
Turnover: 20,649 19,774
Cost of sales: ( 5,371 ) ( 5,349 )
Gross profit(or loss): 15,278 14,425
Distribution costs: ( 2,699 ) ( 7,930 )
Administrative expenses: ( 8,536 ) ( 10,506 )
Operating profit(or loss): 4,043 (4,011)
Profit(or loss) before tax: 4,043 (4,011)
Profit(or loss) for the financial year: 4,043 (4,011)

MY FESTIVAL CIC

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 7,599 9,203
Total fixed assets: 7,599 9,203
Current assets
Cash at bank and in hand: 6,321 6,523
Total current assets: 6,321 6,523
Creditors: amounts falling due within one year: 4 ( 21,909 ) ( 27,758 )
Net current assets (liabilities): (15,588) (21,235)
Total assets less current liabilities: (7,989) ( 12,032)
Accruals and deferred income: ( 900 ) ( 900 )
Total net assets (liabilities): (8,889) (12,932)
Capital and reserves
Called up share capital: 2 2
Other reserves: (8,891) (12,934 )
Total Shareholders' funds: ( 8,889 ) (12,932)

The notes form part of these financial statements

MY FESTIVAL CIC

Balance sheet statements

For the year ending 31 May 2024 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 13 August 2024
and signed on behalf of the board by:

Name: Ian Matthews
Status: Director

The notes form part of these financial statements

MY FESTIVAL CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

MY FESTIVAL CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 2

MY FESTIVAL CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 June 2023 23,367 231 23,598
Additions 169 639 808
Disposals
Revaluations
Transfers
At 31 May 2024 23,536 870 24,406
Depreciation
At 1 June 2023 14,280 115 14,395
Charge for year 2,286 126 2,412
On disposals
Other adjustments
At 31 May 2024 16,566 241 16,807
Net book value
At 31 May 2024 6,970 629 7,599
At 31 May 2023 9,087 116 9,203

MY FESTIVAL CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 21,909 27,758
Total 21,909 27,758

COMMUNITY INTEREST ANNUAL REPORT

MY FESTIVAL CIC

Company Number: 10751700 (England and Wales)

Year Ending: 31 May 2024

Company activities and impact

My Festival CIC specialises in organising and running music events around the Woodbridge area of Suffolk. These events include small-scale live music festivals, silent discos, and DJ sessions. My Festival focuses on supporting and promoting local music talent – including young and emerging musicians, young DJs, and those involved in and learning sound engineering. The festivals include performances from young and disabled teenagers, providing them with a professional stage and sound setup, plus a friendly and appreciative audience of local people. The events are held in the bars, pubs, and restaurants of the town, who are active supporters and promoters of the My Festival events. These local business report increases in sales, footfall, and customer engagement during our events. My Festival events are well attended by local people and are an attraction to visitors and holiday makers in the area. We run the events as free-entry, to ensure accessibility to all members of the community.

Consultation with stakeholders

Primary stakeholders: Ian Matthews and Marco Spina, My Festival company directors. The company directors have weekly meetings to discuss and decide on activities. We also meet with others who benefit from our events, including the DJ’s and sound engineers we employ at intervals throughout the year, and owners of the venues we run events at. These meetings focus on which events they would like to be involved in, and to what capacity. There have been no major changes in our activities and direction throughout the year.

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
13 August 2024

And signed on behalf of the board by:
Name: Ian Matthews
Status: Director