**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.
1
## **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.
2
## **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
3
## **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:
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
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
4
## **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
5
## **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
6
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
7
## **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...
8
## **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...
9
## **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...
10
## **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...
11
## **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...
12
## **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...
13
## **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.
14
## **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
15
## **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
16