Here are the facts about our financial reporting.
We file accounts at Companies House every year. Anyone can read them, free. We are Medicine Events C.I.C., company number 12163886.
Our transparency page reports the festival financial year, September to September, including VAT, because that is how the money moves around a single gathering, however companies house reports the fiscal year, January – January, this is how all accounts are submitted.
In the 2024 festival year our income was £1,575,228, our costs were £1,527,015, and that left £48,213 of surplus, used to support ongoing festival expenses, and contribute to charitable causes.
For example, there may be some payments from the 2023 gathering which were paid late, which end up in the fiscal accounts of 2024.
Each year Medicine alongside the company accountants has to make a decision as to how much we’re able to give to the causes we support, and how much we need as operational costs to keep the festival going, this includes but isn’t limited to;
Ongoing management of social media channels and content
Satellite events
Interaction with our community
Ongoing subscriptions and services
Skeleton Staff
Our accounts report the calendar, fiscal year – January to December and exclude VAT, because that is what company law requires. For the year to 31 December 2024 they show income of £1,774,692, costs of £1,658,672 and a surplus of £116,020. Directors were paid £61,248, disclosed in the community interest report we file alongside the accounts.
Both figures are accurate, however, these are two different accounting periods with different VAT treatment.
We have donated £109,427 to charitable causes between 2021 and 2024, and you can see who we’ve supported here; www.medicinefestival.com/about/who-we-support/
As we are now a Biennial event, that means we have two years of ongoing costs, and only one year of income. After covering the costs of producing the festival and sustaining a small year-round team, and necessary operational expenditure, surplus funds are donated. To date, Medicine has contributed over £109,427 to charitable, Indigenous-led and community-based initiatives.
Of the 10,000 people on site in 2026, approximately 6500 are paying guests at various ticket prices, over 3000 people are crew, volunteers and artists.
Thank you for taking the time to read this, we are doing our best, and trying to do better every year – We would love to continue our mission to preserve and protect our planet, and cultures and traditions around the world – and generate more profit to contribute more funds to charitable causes in the future.