FOLKESTONE MUSIC TOWN CIC

Company limited by guarantee

Company Registration Number:
14757592 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 25 March 2023

End date: 31 March 2024

FOLKESTONE MUSIC TOWN CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

FOLKESTONE MUSIC TOWN CIC

Profit And Loss Account

for the Period Ended 31 March 2024

2024


£
Turnover: 1,682
Cost of sales: 0
Gross profit(or loss): 1,682
Distribution costs: 0
Administrative expenses: ( 1,682 )
Operating profit(or loss): 0
Profit(or loss) before tax: 0
Tax: 0
Profit(or loss) for the financial year: 0

FOLKESTONE MUSIC TOWN CIC

Balance sheet

As at 31 March 2024

Notes 2024


£
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Stocks:   0
Debtors:   0
Cash at bank and in hand: 12,929
Total current assets: 12,929
Net current assets (liabilities): 12,929
Total assets less current liabilities: 12,929
Provision for liabilities: ( 12,929 )
Total net assets (liabilities): 0
Members' funds
Profit and loss account: 0
Total members' funds: 0

The notes form part of these financial statements

FOLKESTONE MUSIC TOWN CIC

Balance sheet statements

For the year ending 31 March 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 1 June 2024
and signed on behalf of the board by:

Name: Sophia Stuchbury
Status: Director

The notes form part of these financial statements

FOLKESTONE MUSIC TOWN CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 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

FOLKESTONE MUSIC TOWN CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024
    Average number of employees during the period 0

FOLKESTONE MUSIC TOWN CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Financial Commitments

Provision for liabilities (£12,929) relates to grant income received in the tax year that was raised for, and subsequently spent on events relating to our "Music in May 2024" festival (i.e. the next tax year).

COMMUNITY INTEREST ANNUAL REPORT

FOLKESTONE MUSIC TOWN CIC

Company Number: 14757592 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

A not for profit organisation that amplifies the musical life of our town / region and which brings out talent from people who previously may not have felt engaged by the local music / arts scene. FMT brings together local musicians, businesses and venues to promote our town’s musical life. “The whole is greater than the sum of the parts”. “From string quartets to DJ sets”. “Music in May” is an important new community festival organised by the Folkestone Music Town team. The Festival will run from April 28th - May 31st and is being managed on a voluntary basis by local people who are highly experienced in the music business and stalwarts of the Folkestone music scene. The Festival will include live music performances across a wide range of venues throughout the town, including those that currently have little or infrequent provision. A multitude of genres will be celebrated, highlighting the cultural diversity of the community. The Festival will also include a range of other events and activities – for example a Music, Health and Wellbeing Symposium, music and film screenings and free, accessible educational workshops, delivered by industry professionals to facilitate the development of the next generation of musicians, singers, songwriters, sound engineers, music producers and promoters. Music In May will be the biggest musical celebration to have occurred in Folkestone in recent memory and will be a clear signal that we have turned our back on the blight of Covid.

Consultation with stakeholders

We hold a monthly open meeting with all interested parties – a mixture of local venues, musicians, promoters and listeners.

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
1 June 2024

And signed on behalf of the board by:
Name: Sophia Stuchbury
Status: Director