2024-03-31-accounts - M K Multiple Sclerosis Therapy Group Limited

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REGISTERED COMPANY NUMBER: 02791056 (England and Wales) REGISTERED CHARITY NUMBER: 1017488

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2024

for

M.K. Multiple Sclerosis Therapy Group Limited

Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants

The Stable Yard 25-33 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 2024

		Page
Report of the Trustees	1	to	3
Independent Examiner's Report		4
Statement of Financial Activities		5
Balance Sheet	6	to	7
Notes to the Financial Statements	8	to	14
Detailed Statement of Financial Activities	15	to	16

M.K. Multiple Sclerosis Therapy Group

Limited

Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024

Trustee report for year ended 31st March 2024

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 31st March 2024. 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. (MKMSTG) We also treat other conditions such as Fibromyalgia, Parkinson's, Arthritis, Cancer, Cerebral Palsy (CP), Autism and Sports Injury. Funds for the upkeep of the centre are generated by payment for treatment, fund raising, sponsorship, donations, subscription and grants.

Review of activities

The financial year April 2023 to March 2024 has been a busy year for the Therapy Centre. Membership has been growing steadily throughout the year but it has been noticeable that members with other conditions have overtaken those with Multiple Sclerosis particularly those having Hyper-baric Oxygen Therapy.

At the beginning of April we received £1000 from Community Foundation's Mad March Match Fund, matching £1000 donated via Local Giving.

In May 2023 we celebrated our 30 year anniversary for MKMSTG with a very successful Open Day. Many people came to help us celebrate with a mixture of members, supporters, health professionals and local dignitaries. The Trustees were delighted so many people had attended to celebrate such a significant milestone in our history. On the 16th October 2023 we held our first Visitors Day inviting possible funders who may be able to help us with our relocation efforts. It was very successful in raising our profile and in the New Year we received £2720 from Aylesbury Masonic Lodge and £25,000 from the Roger and Jean Jeffcoate Trust. Our thanks go to Vivian Smith, our fundraiser, for her help in obtaining these two donations.

In December we held our annual mincepie morning with a Christmas raffle. It was very well attended by volunteers and members.

In January all operators and therapists attended a First Aid course at the Therapy Centre held by The Safety Centre. On the 1st March 2024 we held our second visitors day where we again invited possible funders to come and see our facilities and what was on offer for our members. Again it was very useful in raising our profile.

The state of the building and the subsidence is still an ongoing monitoring and investigation by the Insurers. It has been noted by the Trustees that our Landlords, MK Community Foundation, have a new Agent working on their behalf, Kirkby Diamond.

The parking situation outside 4 Hollin Lane is worsening and the Trustees apologise for the inconvenience it causes members and visitors alike.

Operating Income

Operating income for this accounting period (which includes payments and subscriptions) was £42,238. Donations/fundraising was £34,588. Total Income was £80,265, Expenditure was £57,610. This has resulted in a surplus of £22,655.

The Trustees would like to thank the Centre Manager, Sharn Nandhra, The Committee and Chair Chris Warburton, Hon Secretary Sheila Stockton, Volunteer Operators and Therapists for their work, dedication and help in continuing to keep the MK MS Therapy Centre open and operating safely. Because of our wonderful volunteers we are able to continue providing much needed therapies for our members, the local community and wider area. Our thanks also go to our Patron, Dr Fernandes and the Management team, for their continued dedication and support.

The Trustees would also like to thank Lionel Sutton for his help and support for the Charity over the last few years. Unfortunately, Lionel has resigned as a Trustee and member of the Management Team at the end of last year. Our thanks and best wishes go to Lionel.

M.K. Multiple Sclerosis Therapy Group Limited

Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

02791056 (England and Wales)

Registered Charity number

1017488

Registered office

4 Hollin Lane Stacey Bushes Milton Keynes Buckinghamshire MK12 6HT

Trustees

Ms R Heredia Managing Director Ms J Bohn Company Secretary L Sutton (resigned 31.7.23)

Company Secretary

Ms J Bohn

Independent Examiner

Declan Connolly FCCA Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard 25-33 Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN

TRUSTEES' RESPONSIBILITY STATEMENT

The trustees (who are also the directors of M.K. Multiple Sclerosis Therapy Group Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

M.K. Multiple Sclerosis Therapy Group Limited

Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024

TRUSTEES' RESPONSIBILITY STATEMENT - continued

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 18 September 2024 and signed on its behalf by:

Ms R Heredia - Trustee

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 2024.

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:

accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
the accounts do not accord with those records; or
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
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

Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard 25-33 Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN

18 September 2024

M.K. Multiple Sclerosis Therapy Group Limited

Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 75,098 Other trading activities 2 72 Investment income 3 2,375 Other income - Total 77,545 EXPENDITURE ON Raising funds 4 40,210 Charitable activities Fundraising 16,499 Other 720 Total 57,429 NET INCOME 20,116 RECONCILIATION OF FUNDS Total funds brought forward 92,349 TOTAL FUNDS CARRIED FORWARD 112,465	Restricted fund £ 2,720 - - - 2,720 181 - - 181 2,539 544 3,083	2024 Total funds £ 77,818 72 2,375 - 80,265 40,391 16,499 720 57,610 22,655 92,893 115,548	2023 Total funds £ 42,550 84 744 675
			44,053
			30,300 12,492 33
			42,825
			1,228 91,665
			92,893

The notes form part of these financial statements

M.K. Multiple Sclerosis Therapy Group Limited

Balance Sheet 31 MARCH 2024

Unrestricted funds Notes £ FIXED ASSETS Tangible assets 9 472 CURRENT ASSETS Debtors 10 2,119 Cash at bank and in hand 110,706 112,825 CREDITORS Amounts falling due within one year 11 (832) NET CURRENT ASSETS 111,993 TOTAL ASSETS LESS CURRENT LIABILITIES 112,465 NET ASSETS 112,465 FUNDS 13 Unrestricted funds: General fund Restricted funds: General Fund Restricted TOTAL FUNDS	Restricted fund £ 363 - 2,720 2,720 - 2,720 3,083 3,083	2024 Total funds £ 835 2,119 113,426 115,545 (832) 114,713 115,548 115,548 112,465 3,083 115,548	2023 Total funds £ 1,498 1,923 90,415 92,338 (943) 91,395 92,893 92,893 92,349 544 92,893

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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

continued...

M.K. Multiple Sclerosis Therapy Group Limited

Balance Sheet - continued 31 MARCH 2024

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 18 September 2024 and were signed on its behalf by:

R Heredia - Trustee

J Bohn - Trustee

The notes form part of these financial statements

M.K. Multiple Sclerosis Therapy Group Limited

Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2024

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.

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...

M.K. Multiple Sclerosis Therapy Group Limited

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024

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 Fund raising - raffle Fundraising Support costs 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Rent	2024 £ 72 2024 £ 2,375 2024 £ 5,205 495 2,115 4,922 739 234 9,152 11 4,593 9,271 36,737 2024 £ 663 5,205	2023 £ 84 2023 £ 744 2023 £ 5,247 158 2,666 5,025 868 119 6,637 - - 7,206
		27,926
		2023 £ 509 5,247

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

continued...

M.K. Multiple Sclerosis Therapy Group

Limited

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024

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 42,550 Other trading activities 84 Investment income 744 Other income - Total 43,378 EXPENDITURE ON Raising funds 25,453 Charitable activities Fundraising 7,158 Other 33 Total 32,644 NET INCOME/(EXPENDITURE) 10,734 Transfers between funds (50) Net movement in funds 10,684 RECONCILIATION OF FUNDS Total funds brought forward 81,665 TOTAL FUNDS CARRIED FORWARD 92,349	2024 2 Restricted fund £ - - - 675 675 4,847 5,334 - 10,181 (9,506) 50 (9,456) 10,000 544	2023 3 Total funds £ 42,550 84 744 675 44,053 30,300 12,492 33 42,825 1,228 - 1,228 91,665 92,893	2023 3 Total funds £ 42,550 84 744 675 44,053 30,300 12,492 33 42,825 1,228 - 1,228 91,665 92,893

			44,053
			30,300 12,492 33
			42,825
			1,228 -
			1,228 91,665
			92,893

continued...

M.K. Multiple Sclerosis Therapy Group Limited

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024

9. TANGIBLE FIXED ASSETS

Fixtures Plant and and Computer machinery fittings equipment £ £ £ COST At 1 April 2023 and 31 March 2024 48,408 22,947 2,271 DEPRECIATION At 1 April 2023 47,864 22,849 1,415 Charge for year 181 95 387 At 31 March 2024 48,045 22,944 1,802 NET BOOK VALUE At 31 March 2024 363 3 469 At 31 March 2023 544 98 856 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Prepayments 2,119 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Trade creditors - Accrued expenses 832 832 12. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: 2024 £ Within one year 5,247 Between one and five years - 5,247	Totals £ 73,626	Totals £ 73,626
	72,128 663
	72,791
		835
		1,498
		2023 £ 1,923
		2023 £ 158 785
		943
		2023 £ 5,247 5,247
	10,494

continued...

M.K. Multiple Sclerosis Therapy Group Limited

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024

13. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
			Net
			movement	At
		At 1.4.23	in funds	31.3.24
		£	£	£
Unrestricted funds
General fund		92,349	20,116	112,465
Restricted funds
General Fund Restricted		544	2,539	3,083
TOTAL FUNDS		92,893	22,655	115,548
Net movement in funds, included in the above	are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		£	£	£
Unrestricted funds
General fund		77,545	(57,429)	20,116
Restricted funds
General Fund Restricted		2,720	(181)	2,539
TOTAL FUNDS		80,265	(57,610)	22,655
Comparatives for movement in funds
		Net	Transfers
		movement	between	At
	At 1.4.22	in funds	funds	31.3.23
	£	£	£	£
Unrestricted funds
General fund	81,665	10,734	(50)	92,349
Restricted funds
General Fund Restricted	10,000	(9,506)	50	544
TOTAL FUNDS	91,665	1,228	-	92,893

continued...

M.K. Multiple Sclerosis Therapy Group Limited

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024

13. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	43,378	(32,644)	10,734
Restricted funds
General Fund Restricted	675	(10,181)	(9,506)
TOTAL FUNDS	44,053	(42,825)	1,228

A current year 12 months and prior year 12 months combined position is as follows:

		Net	Transfers
		movement	between	At
	At 1.4.22	in funds	funds	31.3.24
	£	£	£	£
Unrestricted funds
General fund	81,665	30,850	(50)	112,465
Restricted funds
General Fund Restricted	10,000	(6,967)	50	3,083
TOTAL FUNDS	91,665	23,883	-	115,548

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	120,923	(90,073)	30,850
Restricted funds
General Fund Restricted	3,395	(10,362)	(6,967)
TOTAL FUNDS	124,318	(100,435)	23,883

continued...

M.K. Multiple Sclerosis Therapy Group Limited

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

M.K. Multiple Sclerosis Therapy Group Limited

Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2024

FOR THE YEAR ENDED	31 MARCH 2024
	2024	2023
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Gifts	-	5
Donations general	4,165	2,391
Operating income	42,238	38,725
Fund raising	30,423	1,037
Other income	992	392
	77,818	42,550
Other trading activities
Shop sales income	72	84
Investment income
Deposit account interest	2,375	744
Other income
Community foundation	-	675
Total incoming resources	80,265	44,053
EXPENDITURE
Raising donations and legacies
Rent	5,205	5,247
Rates and water	495	158
Insurance	2,115	2,666
Light and heat	4,922	5,025
Telephone	739	868
Postage and stationery	234	119
HBO costs	9,152	6,637
Fund raising - raffle	11	-
Fundraising	4,593	-
	27,466	20,720
Other trading activities
Purchases	360	154
Cleaning	3,263	2,220
	3,623	2,374
Charitable activities
Therapist costs	15,969	12,414
CRB checks	-	33
Subscriptions	530	-
	16,499	12,447

This page does not form part of the statutory financial statements

M.K. Multiple Sclerosis Therapy Group Limited

Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2024

	2024	2023
	£	£
Charitable activities
Other
Training	720	-
Gifts	-	33
	720	33
Support costs
Management
Maintenance	2,269	1,539
Office manager	5,512	4,400
Plant and machinery	181	181
Fixtures and fittings	95	95
Computer equipment	387	234
	8,444	6,449
Finance
Bank charges	31	22
Governance costs
Accountancy and legal fees	827	780
Total resources expended	57,610	42,825
Net income	22,655	1,228

This page does not form part of the statutory financial statements