EAST FINCHLEY FESTIVAL CIC

Company limited by guarantee

Company Registration Number:
12271366 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2024

Period of accounts

Start date: 1 November 2023

End date: 31 October 2024

EAST FINCHLEY FESTIVAL CIC

Contents of the Financial Statements

for the Period Ended 31 October 2024

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

EAST FINCHLEY FESTIVAL CIC

Directors' report period ended 31 October 2024

The directors present their report with the financial statements of the company for the period ended 31 October 2024

Directors

The directors shown below have held office during the whole of the period from
1 November 2023 to 31 October 2024

Andrew Myers-Nobbs
Michael Hughes
Charles O'Toole


The director shown below has held office during the period of
1 November 2023 to 25 June 2024

Alison Roberts


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
21 January 2025

And signed on behalf of the board by:
Name: Charles O'Toole
Status: Director

EAST FINCHLEY FESTIVAL CIC

Profit And Loss Account

for the Period Ended 31 October 2024

2024 2023


£

£
Turnover: 26,035 24,242
Cost of sales: ( 20,123 ) ( 18,712 )
Gross profit(or loss): 5,912 5,530
Administrative expenses: ( 3,726 ) ( 2,124 )
Operating profit(or loss): 2,186 3,406
Profit(or loss) before tax: 2,186 3,406
Tax: ( 547 ) ( 550 )
Profit(or loss) for the financial year: 1,639 2,856

EAST FINCHLEY FESTIVAL CIC

Balance sheet

As at 31 October 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 798 1,337
Total fixed assets: 798 1,337
Current assets
Debtors: 4 31 948
Cash at bank and in hand: 16,064 13,598
Total current assets: 16,095 14,546
Creditors: amounts falling due within one year: 5 ( 581 ) ( 1,210 )
Net current assets (liabilities): 15,514 13,336
Total assets less current liabilities: 16,312 14,673
Total net assets (liabilities): 16,312 14,673
Members' funds
Profit and loss account: 16,312 14,673
Total members' funds: 16,312 14,673

The notes form part of these financial statements

EAST FINCHLEY FESTIVAL CIC

Balance sheet statements

For the year ending 31 October 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 21 January 2025
and signed on behalf of the board by:

Name: Charles O'Toole
Status: Director

The notes form part of these financial statements

EAST FINCHLEY FESTIVAL CIC

Notes to the Financial Statements

for the Period Ended 31 October 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

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes sales revenue from pitch fees charged to stallholders at the festival, programme advertising, income from raffles and festival activities, donations and grants received.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following basis: 25% straight line basis.

EAST FINCHLEY FESTIVAL CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

EAST FINCHLEY FESTIVAL CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2023 1,850 168 135 2,153
Additions
Disposals
Revaluations
Transfers
At 31 October 2024 1,850 168 135 2,153
Depreciation
At 1 November 2023 739 42 35 816
Charge for year 463 42 34 539
On disposals
Other adjustments
At 31 October 2024 1,202 84 69 1,355
Net book value
At 31 October 2024 648 84 66 798
At 31 October 2023 1,111 126 100 1,337

EAST FINCHLEY FESTIVAL CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

4. Debtors

2024 2023
£ £
Trade debtors 948
Other debtors 31
Total 31 948

EAST FINCHLEY FESTIVAL CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 39
Taxation and social security 547 1,171
Accruals and deferred income 34
Total 581 1,210

COMMUNITY INTEREST ANNUAL REPORT

EAST FINCHLEY FESTIVAL CIC

Company Number: 12271366 (England and Wales)

Year Ending: 31 October 2024

Company activities and impact

We produce an inclusive one-day community festival in North London, featuring 30+ acts across three performance areas, 20+ community groups and 100+ local creatives, makers and businesses. The event is free to attend and is run for the benefit of the local community. It not only provides the area with an afternoon of free entertainment, it also promotes local businesses and creatives, supporting the local economy. In addition it provides experience and volunteering opportunities for up to 100 people.

Consultation with stakeholders

Our stakeholders are the acts, community groups and stallholders who take part, and members of the local community who attend. We encourage feedback from participants and stallholders after the event - which is overwhelmingly positive. Attendees and local residents are welcome to interact with our social media channels and to attend open meetings to share their feedback and ideas.

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
21 January 2025

And signed on behalf of the board by:
Name: Charles O'Toole
Status: Director