**REGISTERED COMPANY NUMBER: 02791056 REGISTERED CHARITY NUMBER: 1017488** ## **REPORT OF THE TRUSTEES AND** ## **UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2021** ## **FOR** ## **M.K. Multiple Sclerosis Therapy Group Limited** Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN ## **M.K. Multiple Sclerosis Therapy Group Limited** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Balance Sheet**|5|to|6| |**Notes to the Financial Statements**|7|to|12| |**Detailed Statement of Financial Activities**|13|to|14| ## **M.K. Multiple Sclerosis Therapy Group Limited** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** ## **MILTON KEYNES MULTIPLE SCLEROSIS THERAPY GROUP LTD** ## **Trustee report for year ended 31st March 2021** The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Charities (SORP) FRS102 'Accounting and Reporting by Charities' (effective 1st January 2015). ## **Principal Activity** The Company was incorporated to provide relief to sufferers of Multiple Sclerosis from a permanent base in Milton Keynes. Funds for the upkeep of the centre are generated by payment for treatment, fund raising, sponsorship, donations, subscription and grants. ## **Trustees** After nearly 30 years as a Trustee, working, supporting the MKMSTG, Mrs Christine Nalton resigned due to ill health. Mr Lionel Sutton was duly appointed as Trustee in January 2021. The Trustees would like to thank Mrs Nalton for her valuable years of service. ## **Review of activities** On the 20th March 2020 the MS Therapy Centre closed the doors to all members, volunteers and therapists, due to the Pandemic and spread of Covid-19. Everything was made secure particularly regarding the HBO chamber and oxygen store. The Centre Manager, Secretary, Directors and management group continued to work from home and met regularly via Skype, working through the first lockdown and preparing for when we could reopen. During this time we managed to secure two grants, to cover our loss of income and to enable us to reopen when lockdown was eased. After extensive deep cleaning and sanitising of the whole of the Therapy Centre we finally reopened on Monday 10th August 2020 for 3 days a week with seriously reduced services and strict protocols in place. HBOT only at first with 6 volunteers and Centre Manager who were willing to return and our sincere thanks to them for putting themselves in the front line. Three of our therapists were eager to resume treating our members and were able to start their treatments in September 2020. We were able to stay open during the second lockdown in November but as the virus was spreading we closed our doors again on 18th December 2020 and didn't reopen until 8th March 2021. In November 2020 we were able to secure another grant from the MK Community Foundation which we hoped would cover our losses during the pandemic through in to 2021, while still running at reduced capacity, with extra expense, following the Government guidelines and our own strict protocols. ## **Operating Income** Operating income for this accounting period (which includes payments and subscriptions) was £8,106, down by over £32,283. Donations/fundraising was £3,350. Total Income excluding the Grants was £12,941, Expenditure was £23,121. The grants received under the heading "Other income" brought our total turnover to £52,491. The Trustees would like to thank the Centre Manager, volunteer operators and Therapists for making it possible to reopen the MS Therapy Centre safely, following all the protocols and Government guidelines, so that we could continue providing therapies for our members. Our grateful thanks also to the Management Committee, Hon Secretary and Chair for continuing to work from home on our behalf during a most difficult year. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** **.** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006. The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 1 ## **M.K. Multiple Sclerosis Therapy Group Limited** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 02791056 (Not specified/Other) ## **Registered Charity number** 1017488 ## **Registered office** 4 Hollin Lane Stacey Bushes Milton Keynes Buckinghamshire MK12 6HT ## **Trustees** Ms R Heredia Managing Director C Nalton (resigned 1.1.21) Ms J Bohn Company Secretary L Sutton (appointed 1.1.21) ## **Company Secretary** Ms J Bohn ## **Independent Examiner** Declan Connolly FCCA For and on behalf of Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 30 September 2021 and signed on its behalf by: Ms R Heredia - Trustee 2 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF M.K. MULTIPLE SCLEROSIS THERAPY GROUP LIMITED** ## **Independent examiner's report to the trustees of M.K. Multiple Sclerosis Therapy Group Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Declan Connolly FCCA For and on behalf of Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN 30 September 2021 3 ## **M.K. Multiple Sclerosis Therapy Group Limited** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021** |Unrestricted
Restricted
funds
fund
Notes
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
12,941
-
Other trading activities
2
269
-
Investment income
3
81
-
Other income
39,200
-
**Total**
52,491
-
**EXPENDITURE ON**
Raising funds
4
17,300
-
**Charitable activities**
Fundraising
5,404
-
Other
417
-
**Total**
23,121
-
**NET INCOME/(EXPENDITURE)**
29,370
-
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
57,946
-
**TOTAL FUNDS CARRIED FORWARD**
87,316
-|2021
Total
funds
£
12,941
269
81
39,200
52,491
17,300
5,404
417
23,121
29,370
57,946
87,316|2020
Total
funds
£
45,368
946
419
-
46,733
19,836
34,765
157
54,758
(8,025)
65,971
57,946| |---|---|---| The notes form part of these financial statements 4 ## **M.K. Multiple Sclerosis Therapy Group Limited** ## **BALANCE SHEET 31 MARCH 2021** |Unrestricted
Restricted
funds
fund
Notes
£
£
**FIXED ASSETS**
Tangible assets
9
-
-
**CURRENT ASSETS**
Debtors
10
2,938
-
Cash at bank and in hand
85,073
-
88,011
-
**CREDITORS**
Amounts falling due within one year
11
(695)
-
**NET CURRENT ASSETS**
87,316
-
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
87,316
-
**NET ASSETS**
87,316
-
**FUNDS**
13
Unrestricted funds:
General fund
**TOTAL FUNDS**|2021
Total
funds
£
-
2,938
85,073
88,011
(695)
87,316
87,316
87,316
87,316
87,316|2020
Total
funds
£
111
1,542
56,970
58,512
(677)
57,835
57,946
57,946
57,946
57,946| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006. ## The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements 5 continued... ## **M.K. Multiple Sclerosis Therapy Group Limited** ## **BALANCE SHEET - continued 31 MARCH 2021** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 30 September 2021 and were signed on its behalf by: R Heredia - Trustee J Bohn - Trustee The notes form part of these financial statements 6 **M.K. Multiple Sclerosis Therapy Group Limited** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Going concern** The trustees have considered the impact of COVID-19 in relation to their assessment of going concern of the charity. In their opinion, they have taken all reasonable steps to mitigate these factors. As at the point of authorising the accounts, and for the foreseeable future, the trustees have determined that there is no material uncertainty that casts doubt on the entity's ability to continue as a going concern. Therefore, they consider the going concern assumption to still be appropriate. The trustees acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery - 25% on cost Fixtures and fittings - 3 years Computer equipment - 3 years ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Hire purchase and leasing commitments** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. continued... 7 ## **M.K. Multiple Sclerosis Therapy Group** ## **Limited** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** |**2.**
**OTHER TRADING ACTIVITIES**
Shop sales income
**3.**
**INVESTMENT INCOME**
Deposit account interest
**4.**
**RAISING FUNDS**
**Raising donations and legacies**
Rent
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
HBO costs
Depreciation
Support costs
**Investment management costs**
Administrative expenses
Aggregate amounts
**5.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Rent
Deficit on disposal of fixed assets|2021
£
269
2021
£
81
2021
£
5,759
468
1,690
1,553
975
379
2,393
-
344
13,561
2021
£
1,870
17,300
2021
£
-
5,759
111|2020
£
946
2020
£
419
2020
£
3,701
440
1,683
2,584
775
598
6,054
58
2,519| |---|---|---| |||18,412| |||2020
£
-
19,836| |||2020
£
78
3,701
-| continued... 8 ## **M.K. Multiple Sclerosis Therapy Group Limited** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. ## **7. STAFF COSTS** The average monthly number of employees during the year was as follows: ## **8.** |Trustees
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
45,368
Other trading activities
946
Investment income
419
**Total**
46,733
**EXPENDITURE ON**
Raising funds
19,836
**Charitable activities**
Fundraising
34,765
Other
157
**Total**
54,758
**NET INCOME/(EXPENDITURE)**
(8,025)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
65,971
**TOTAL FUNDS CARRIED FORWARD**
57,946|2021
3
Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-|2020
3
Total
funds
£
45,368
946
419
46,733
19,836
34,765
157
54,758
(8,025)
65,971
57,946| |---|---|---| |||| continued... 9 ## **M.K. Multiple Sclerosis Therapy Group Limited** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **9. TANGIBLE FIXED ASSETS** ||||||Fixtures|Fixtures||| |---|---|---|---|---|---|---|---|---| |||Freehold||Plant and|and||Computer|| |||property||machinery|fittings||equipment|Totals| |||£||£|£||£|£| ||**COST**|||||||| ||At 1 April 2020|31,770||48,289|26,491||2,260|108,810| ||Disposals||-|(606)|(1,683)||-|(2,289)| ||At 31 March 2021|31,770||47,683|24,808||2,260|106,521| ||**DEPRECIATION**|||||||| ||At 1 April 2020|31,770||48,178|26,491||2,260|108,699| ||Eliminated on disposal||-|(495)|(1,683)||-|(2,178)| ||At 31 March 2021|31,770||47,683|24,808||2,260|106,521| ||**NET BOOK VALUE**|||||||| ||At 31 March 2021||-|-||-|-|-| ||At 31 March 2020||-|111||-|-|111| |**10.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||||| ||||||||2021|2020| ||||||||£|£| ||Prepayments||||||2,938|1,542| |**11.**|**CREDITORS: AMOUNTS FALLING**||**DUE WITHIN ONE YEAR**|||||| ||||||||2021|2020| ||||||||£|£| ||Accrued expenses||||||695|677| |**12.**|**LEASING AGREEMENTS**|||||||| ||Minimum lease payments under non-cancellable operating leases fall||||due as follows:|||| ||||||||2021|2020| ||||||||£|£| ||Within one year||||||5,247|5,247| ||Between one and five years||||||15,741|20,988| ||||||||20,988|26,235| continued... 10 ## **M.K. Multiple Sclerosis Therapy Group Limited** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **13. MOVEMENT IN FUNDS** |**MOVEMENT IN FUNDS**||| |---|---|---| ||Net|| ||movement|At| |At 1.4.20|in funds|31.3.21| |£|£|£| |**Unrestricted funds**||| |General fund
57,946|29,370|87,316| |**TOTAL FUNDS**
57,946|29,370|87,316| |Net movement in funds, included in the above are as follows:||| |Incoming|Resources|Movement| |resources|expended|in funds| |£|£|£| |**Unrestricted funds**||| |General fund
52,491|(23,121)|29,370| |**TOTAL FUNDS**
52,491|(23,121)|29,370| |**Comparatives for movement in funds**||| ||Net|| ||movement|At| |At 1.4.19|in funds|31.3.20| |£|£|£| |**Unrestricted funds**||| |General fund
65,971|(8,025)|57,946| |**TOTAL FUNDS**
65,971|(8,025)|57,946| |Comparative net movement in funds, included in the above are as follows:||| |Incoming|Resources|Movement| |resources|expended|in funds| |£|£|£| |**Unrestricted funds**||| |General fund
46,733|(54,758)|(8,025)| |**TOTAL FUNDS**
46,733|(54,758)|(8,025)| continued... 11 ## **M.K. Multiple Sclerosis Therapy Group Limited** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **13. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |||Net|| |---|---|---|---| |||movement|At| ||At 1.4.19|in funds|31.3.21| ||£|£|£| |**Unrestricted funds**|||| |General fund|65,971|21,345|87,316| |**TOTAL FUNDS**|65,971|21,345|87,316| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|99,224|(77,879)|21,345| |**TOTAL FUNDS**|99,224|(77,879)|21,345| ## **14. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2021. 12 ## **M.K. Multiple Sclerosis Therapy Group Limited** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021** |**FOR THE YEAR ENDED**|**31 MARCH 2021**|| |---|---|---| ||2021|2020| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations general|2,826|1,599| |Operating income|8,106|40,389| |Fund raising|524|1,977| |Other income|1,485|1,288| |Great weather lottery|-|115| ||12,941|45,368| |**Other trading activities**||| |Shop sales income|269|946| |**Investment income**||| |Deposit account interest|81|419| |**Other income**||| |Community foundation|29,200|-| |COVID-19 grant|10,000|-| ||39,200|-| |**Total incoming resources**|52,491|46,733| |**EXPENDITURE**||| |**Raising donations and legacies**||| |Rent|5,759|3,701| |Rates and water|468|440| |Insurance|1,690|1,683| |Light and heat|1,553|2,584| |Telephone|975|775| |Postage and stationery|379|598| |HBO costs|2,393|6,054| |Plant and machinery|-|39| |Fixtures and fittings|-|19| ||13,217|15,893| |**Other trading activities**||| |Purchases|733|771| |Cleaning|1,136|653| ||1,869|1,424| |**Investment management costs**||| |Administrative expenses|1,870|-| This page does not form part of the statutory financial statements 13 ## **M.K. Multiple Sclerosis Therapy Group Limited** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021** ||2021|2020| |---|---|---| ||£|£| |**Investment management costs**||| |**Charitable activities**||| |Therapist costs|3,860|34,706| |CRB checks|140|39| |Licence fee|-|20| ||4,000|34,765| |**Other**||| |Gifts|267|87| |Travel|-|70| |IT costs|150|-| ||417|157| |**Support costs**||| |**Management**||| |Maintenance|942|1,842| |Loss on sale of tangible fixed assets|111|-| ||1,053|1,842| |**Governance costs**||| |Accountancy and legal fees|695|677| |Total resources expended|23,121|54,758| |**Net income/(expenditure)**|29,370|(8,025)| This page does not form part of the statutory financial statements 14