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2021-03-31-accounts

Charity Registration No. 1023606

Company Registration No. 2806607 (England and Wales)

NEUROMUSCULAR CENTRE

COMPANY LIMITED BY GUARANTEE

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION

Trustees G Edwards
M Hawes
A Jeffs
I Martin
D Okell (Chair from 15 April 2021)
M Roberts (not a director)
E Sands
W Stothart
Chief Executive M Lanham
Secretary B Dale
Charity number 1023606
Company number 2806607
Registered office Woodford Lane West
Winsford
Cheshire
CW7 4EH
Auditors BWM
Castle Chambers
43 Castle Street
Liverpool
L2 9SH
Bankers Barclays Bank Plc
21 Dingle Walk
Winsford
Cheshire
CW7 1AG
Nationwide Building Society
5 - 11 St Georges Street
Douglas
Isle of Man
IM99 1AS
Solicitors Barrow & Cook
5-7 Victoria Square
St Helens
Merseyside
WA10 1HH

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE CONTENTS

Page
Trustees' report 1 - 7
Statement of trustees' responsibilities 8
Independent auditor's report 9 - 11
Statement of financial activities 12 - 13
Balance sheet 14
Statement of cash flows 15
Notes to the financial statements 16 - 31

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their report and financial statements for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles of association (as amended 17 October 2019), the Companies Act 2006 and "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)".

Objectives and activities

The NMC is the Centre of Excellence for people affected by neuromuscular conditions.

Charitable objects

The objects of the NMC are to promote and provide opportunities for people with a neuromuscular condition to live fuller lives through training, employment and physiotherapy, together with advice and support for themselves and their families and carers.

Mission

The NMC's mission is to work together with people affected by muscle diseases, creating an environment where full potential and positive wellbeing are achieved, through employment, training, support and physiotherapy.

Aims and activities

The NMC aims to be largely user led and to provide a range of services for people affected by muscle disease. Although service users are predominantly from within a 100 mile radius of Winsford, Cheshire, many attend the Centre from across the UK and Europe. The range of services includes:

The unique combination of services provided by the charity are offered directly to individuals and their families across the UK. Where practicable, physical management programmes are tailored to the needs of each individual, depending on their type of dystrophy and physical condition, through regular sessions of physiotherapy and hydrotherapy. As a ‘centre of excellence’ in the physical management of muscular dystrophy and related neuromuscular conditions, the charity offers help and advice to other organisations worldwide.

The charity has established a well-respected graphic design business, NMC Design+Print, in which the variety of skills and talents of the individuals can be employed, developed and rewarded under both salaried and permitted work arrangements. The NMC provides wheelchair-adapted transport for individuals attending the Centre.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

NMC strategies - Strategy Overview for 2021-2022

We had 10 Strategic Priorities for the next 2 years, but these are very much subject to review and change in the wake of the pandemic;

1. Virtual Replication

We will explore, test and use the latest technology channels and IT to enable NMC to reach out and connect to people who are unable to physically come to the Centre. The aim is to seek to enable people to participate in, and benefit from, the fullest possible range of NMC support and activities remotely.

2 . Reputation for quality

We will ensure that all of our work is always of the highest possible quality and, where appropriate, is at the leading edge in our field globally. We will ensure that we promote and share our expertise, mindful of our responsibility to help in the development of better understanding, treatment and support for those affected by neuromuscular conditions.

3. Strong relationships

We will maintain and strengthen relationships with key stakeholders. In particular we will focus on those who donate and invest in our charity. We will seek an even greater understanding of donors’ motivations so that we can ensure that they remain feeling valued and connected to the cause they have invested in.

4. Partnering

To further seek out possible opportunities for partnership working, where that brings mutual benefit. Partnering is most likely to be with other charities where the pooling of resources might enable partners to extend their reach or impact.

5. Transition

To proactively seek to connect with more young people with neuromuscular conditions, and with their parents, siblings and other family. We will work to offer support for successful transition to adulthood. We will work to define “success” and we will develop a range of approaches that best enable transition. Our aim is for children and young people with neuromuscular conditions to grow to become fully independent adults and to be productive citizens contributing to our society in the best possible way.

6. Sustainable income

We will seek to ensure that there is sustainable secure growth in funding to meet our strategic aspirations. We will explore a wide variety of funding sources and approaches including considering the feasibility of reducing the proportion of our funding from statutory bodies. Part of this funding strategy reflects our determination to govern our own work drawing on our specialist knowledge and specialist skills.

7. Design and Print Social Enterprise

We will undertake an extensive review and refresh of the Design and Print operation. We will set out refreshed direction and goals to reflect changes in the both the competitive and operating environment. We will review customer service, pricing and production.

We will ensure that the Social Enterprise, that is so much at the core of our charity, is managed, staffed and organised for maximum success and resilience.

8. Emotional and mental wellbeing service

Although we know NMC already has a hugely positive impact in these areas for some individuals in our community, the aim is to develop a more universally accessible range of services to better support more people. The new elements of work may include structured psychological and counselling services alongside things like support around diet and nutrition.

9. Accommodation

We will undertake a feasibility study to enable us to plan how we might be able to meet demand for accessible accommodation, in the vicinity of NMC, to suit those with neuromuscular conditions.

As part of this work we will consider the practicalities of buying a house as an additional resource for the use of our community.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

10. NMC’s 30th Birthday

We will plan to hold suitable celebrations in 2020 to reflect this major milestone for our charity. We will maximise the opportunities that the anniversary provides for publicising our work and the funds that are needed to sustain our work.

The coronavirus crisis has impacted on our ability to progress these strategic priorities. We have a great deal to adjust and respond to as we hopefully emerge from the crisis. It has impacted hugely on the priorities of the charity. We are planning for elements of the Strategic Plan such as Virtual NMC and Emotional and Mental Wellbeing Service to feature in our work. Aims like the creation of some NMC overnight accommodation is now highly unlikely to be progressed in the year ahead but remains a longer-term ambition. Our plan to celebrate 30 years of NMC was simply not possible during the pandemic.

Volunteer help

NMC has a strong group of volunteers working in:

Public Benefit

The charity trustees consider that they have complied with their duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission and that the benefits that the charity provides are not unreasonably restricted.

Achievements and performance

Performance against Objectives for 2020-21

Rather than list a series of specific plans for 2020-21, we set out to respond to the immediate challenges of the early days of the pandemic as best we were able. We then acknowledged that we would probably need to set about rebuilding the charity, as necessary, in the aftermath of the coronavirus crisis. We set out our response below;

We have assessed, responded, and acted in all the ways we set out during the year.

Fundraising performance

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

Fundraising

The NMC employs fundraisers directly. We don’t engage external fundraising consultants. The NMC would never employ ‘chuggers’ for street collections on its behalf. The fundraising team is complemented by committed volunteers to help raise the required funds.

NMC’s Grants and Contracts Manager is a member of the Institute of Fundraising with a Diploma in Fundraising. The organisation received The Queen’s Award for Voluntary Service for the high standards to which it adheres.

The NMC acknowledges and gives thanks for every donation it receives.

Plans for 2021-22

All the above are of course dependent on the prevailing mood in society generally, and in the NMC community specifically, about the virus and levels of confidence about personal safety in situations with other people.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

Financial review

Reserves policy

NMC recognises the need to build and maintain adequate reserves, to ensure that the charity has a financial buffer proportionate to its normal scale of operations. In doing so, this will reduce the financial risk to the charity and help ensure that its services are sustainable.

The policy sets out a goal of staying above the following thresholds:

  1. A minimum amount of total unrestricted reserves of £250,000

  2. A minimum amount of net current assets of £130,000 of which cash and marketable investments must not be less than £90,000

The overall total is equivalent to approximately 4 months of annual spend and approximately 6 months of annual payroll. The Trustees believe that this is a reasonable and proportionate "buffer" to retain against the risk of unseen problems.

The current reserves level is £1,250,636, with free reserves being £546,108. Reserves have been built to enable the NMC to properly fund services, and be agile when encountering changing circumstances during the potential uncertainty of the post pandemic environment.

Risk management

A register of risks is maintained and reviewed regularly by the Trustees.

The following risks have been identified as the most significant for the charity:

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

Structure, governance and management

The Neuromuscular Centre (NMC) is a registered charity, incorporated as a company limited by guarantee. The charity registration number is 1023606 and the company registration number is 2806607. The NMC has a wholly owned dormant subsidiary, NMC Trading Limited.

The trustees, who are also the directors for the purpose of company law, and who served during the year were:

A Craig (Chair to 15 April 2021) (Resigned 15 April 2021) G Edwards M Hawes A Jeffs I Martin S McDowell (Resigned 15 April 2021) D Okell (Chair from 15 April 2021) M Roberts (not a director) E Sands W Stothart

Appointment of trustees

The charity appointed its Board of Trustees from 1 April 2012. As vacancies arise new Trustees are appointed.

Trustee induction and training

Newly appointed trustees receive comprehensive induction including training on their duties and responsibilities under company and charity law and also an induction into the activities, operational plans and financial performance of the charity.

Organisation

The Board of Trustees is ultimately responsible for the management of the Neuromuscular Centre. The Board will meet quarterly. A Chief Executive, with delegated authority, is appointed by and accountable to the trustees for managing the day-to-day operations of the NMC and the delivery of operational plans.

The remuneration arrangements for all staff are reviewed annually by the Chair of Trustees and Chief Executive having benchmarked pay levels in the relevant employment roles and sectors and mindful of changes to the UK cost of living indices. The Trustee Board approve the overall remuneration settlement as part of the annual budget setting.

Auditor

The auditors, BWM, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

Small company provisions

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board of trustees

D Okell (Chair from 15 April 2021)

Trustee Dated: 3 August 2021

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2021

The trustees, who are also the directors of NeuroMuscular Centre for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these accounts, the trustees are required to:

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

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF NEUROMUSCULAR CENTRE

Opinion

We have audited the financial statements of NeuroMuscular Centre (the ‘charity’) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF NEUROMUSCULAR CENTRE

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF NEUROMUSCULAR CENTRE

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Peter Taaffe FCA CTA DChA (Senior Statutory Auditor) for and on behalf of BWM 23 August 2021

Chartered Accountants Statutory Auditor Castle Chambers 43 Castle Street Liverpool L2 9SH

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2021

Current financial year
Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and legacies
3
378,041
133,111
Charitable activities
4
311,419
-
Fundraising events
5
18,129
-
Investments
6
403
-
Other income
7
218,602
-
Total income
926,594
133,111
Expenditure on:
Raising funds
8
53,261
-
Charitable activities
9
712,663
111,658
Total expenditure
765,924
111,658
Net income for the year/
Net movement in funds
160,670
21,453
Reconciliation of funds
Fund balances at 1 April 2020
1,062,512
6,000
Fund balances at 31 March 2021
1,223,182
27,453		 Total
2021
£
511,152
311,419
18,129
403
218,602
1,059,705
53,261
824,321
877,582
182,123
1,068,512
1,250,635		 Total
2020
£
485,979
620,770
92,806
1,295
2,688
1,203,538
169,765
977,131
1,146,896
56,642
1,011,870
1,068,512

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The movement in funds detailed above complies with the requirements for a statement of changes in equity under FRS102.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2021

Prior financial year
Unrestricted
Restricted
funds
funds
2020
2020
Notes
£
£
Income from:
Donations and legacies
3
421,457
64,522
Charitable activities
4
620,770
-
Fundraising events
5
92,806
-
Investments
6
1,295
-
Other income
7
2,688
-
Total income
1,139,016
64,522
Expenditure on:
Raising funds
8
169,765
-
Charitable activities
9
918,609
58,522
Total expenditure
1,088,374
58,522
Net income/(expenditure) for the year
Net movement in funds
50,642
6,000
Reconciliation of funds
Fund balances at 1 April 2019
1,011,870
-
Fund balances at 31 March 2020
1,062,512
6,000		 Total
2020
£
485,979
620,770
92,806
1,295
2,688
1,203,538
169,765
977,131
1,146,896
56,642
1,011,870
1,068,512

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The movement in funds detailed above complies with the requirements for a statement of changes in equity under FRS102.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE BALANCE SHEET

AS AT 31 MARCH 2021

Notes
Fixed assets
Tangible assets
14
Investments
15
Current assets
Debtors
18
Cash at bank and in hand
Liabilities:
Creditors: amounts falling due within one
year
19
Net current assets
Total net assets
The funds of the charity:
Restricted funds
22
Unrestricted funds
Unrestricted funds represented by fixed assets
Free reserves
General unrestricted funds
Total unrestricted funds
Total charity funds		 2021
£
£
677,065
9
677,074
57,583
576,417
634,000
(60,439)
573,561
1,250,635
27,453
677,074
546,108
1,223,182
1,223,182
1,250,635		 2020
£
£
697,627
9
697,636
62,923
336,464
399,387
(28,511)
370,876
1,068,512
6,000
697,636
364,876
1,062,512
1,062,512
1,068,512		 2020
£
£
697,627
9
697,636
62,923
336,464
399,387
(28,511)
370,876
1,068,512
6,000
697,636
364,876
1,062,512
1,062,512
1,068,512
697,636
370,876
1,068,512
6,000
1,062,512
1,068,512

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees and authorised for issue on 3 August 2021 and are signed on its behalf by:

D Okell (Chair from 15 April 2021)

Trustee

Company Registration No. 2806607

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2021

Notes
Cash flows from operating activities
Net cash provided by operating activities
27
Cash flows from investing activities
Interest received
Net cash generated from investing
activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2021
£
403		 £
239,550
403
239,953
336,464
576,417		 2020
£
1,295		 £
98,230
1,295
99,525
236,939
336,464

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

The NeuroMuscular Centre is a private company limited by guarantee incorporated in England and Wales and a charity registered with the Charity Commission for England and Wales. The registered office is Woodford Lane West, Winsford, Cheshire, CW7 4EH.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's memorandum and articles of association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements do not incorporate the results, assets and liabilities of the charity's wholly owned subsidiary, NMC Trading Limited. Consolidated accounts have not been prepared as these would not be materially different from the single entity financial statements as presented. The subsidiary ceased to trade on 1 April 2012 and has remained dormant throughout the period.

1.2 Going concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

Covid-19 has had a profound effect on the Neuromuscular Centre and the community it serves. The safety and wellbeing of our staff, and the individuals who access our on-site services is of paramount importance, and as a consequence of that and the quarantine rules, the Centre has been closed to the public. As a result, many of our employees have not been able to work, leading to them being furloughed. The Centre has accessed the Government’s Job Retention Scheme for much welcomed support.

It has been vital to maintain a level of support to our community though, and in giving the Centre the ability to do so, a core staff has not been furloughed, allow support to continue through phone calls and digital technologies. This has highlighted the importance of our work in making timely, caring and professional interventions for people who have really struggled without the vibrant family atmosphere that under normal circumstances the Centre provides.

Whilst income has been negatively impacted, particularly from CCGs and from Fundraising Events, the Management Team has sought to minimise costs in order to reduce the impact of the virus.

At the time of approving the accounts and as detailed in the Trustees’ report the Trustees have considered the impact of Covid-19 on the charity and the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the ‘going concern’ basis of accounting in preparing the accounts.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.3 Charitable funds

Funds held by the charity are:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees, with due regard to the reserves policy as described in the Trustees' Report.

Designated funds - these are funds set aside by the trustees out of unrestricted general funds for specific future purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.4 Income

All income is included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Income from donations and grants, including capital grants, is included in income when these are receivable, except as follows:

Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

When donors specify that donations and grants, including capital grants, are for particular restricted purposes, which do not amount to preconditions regarding entitlement, this income is included as restricted funds when receivable.

Voluntary income includes discretionary grants for projects, goods and services where no service agreement or contract exists.

Other grants, which have particular service requirements and which are provided in accordance with a contract or service level agreement are included in the Statement of Financial Activities under the heading Charitable Activities.

Interest is included when receivable by the charity.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure reflects all amounts paid and accrued during the year. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. All costs are allocated between the expenditure categories of the Statement of Financial Activities (SOFA) on a basis designed to reflect the use of the resource.

Raising funds

These represent costs incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

Charitable expenditure

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are allocated across the activities on the basis of expenditure incurred for each of the activities.

Governance costs

These represent costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Individual fixed assets costing £1,000 or more are capitalised at cost, including any expenses of acquisition.

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Short leasehold property Straight line basis over the life of the lease Fixtures, fittings & equipment Straight line over 4 - 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Fixed asset investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received, if material.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

The charity offers defined contribution pension arrangements to an employers’ portable scheme. Contributions are charged in the financial statements as incurred.

1.13 Taxation

The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions. Recovery is made of tax deducted from qualifying income and from receipts under Gift Aid.

The charity is also able to partially recover Value Added Tax. Expenditure that is not recoverable by the charity is recorded in the accounts inclusive of VAT.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2021
2021
£
£
Donations and gifts
353,041
133,111
Legacies receivable
25,000
-
378,041
133,111
Donations and gifts
Community donations
131,511
-
Trust and corporate
donations
221,530
133,111
353,041
133,111		 Total Unrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
486,152
420,457
64,522
25,000
1,000
-
511,152
421,457
64,522
131,511
198,212
-
354,641
222,245
64,522
486,152
420,457
64,522		 Total
2020
£
484,979
1,000
485,979
198,212
286,767
484,979

4 Charitable activities

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds funds funds
Physiotherapy Supporting Total Total
employment 2021 2020
£ £ £ £
Income within charitable activities 242,968 68,451 311,419 620,770

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

4
Charitable activities
(Continued)
For the year ended 31 March 2020
Physiotherapy
Supporting
employment
Total
£
£
£
Income within charitable activities
490,000
130,770
620,770
Analysis by fund
Unrestricted funds
490,000
130,770
620,770
5
Fundraising events
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
Fundraising events
18,129
92,806
6
Investments
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
Interest receivable
403
1,295
7
Other income
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
Coronavirus Job Retention Scheme Grant
218,384
-
Other income
218
2,688
218,602
2,688		 4
Charitable activities
(Continued)
For the year ended 31 March 2020
Physiotherapy
Supporting
employment
Total
£
£
£
Income within charitable activities
490,000
130,770
620,770
Analysis by fund
Unrestricted funds
490,000
130,770
620,770
5
Fundraising events
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
Fundraising events
18,129
92,806
6
Investments
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
Interest receivable
403
1,295
7
Other income
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
Coronavirus Job Retention Scheme Grant
218,384
-
Other income
218
2,688
218,602
2,688		 4
Charitable activities
(Continued)
For the year ended 31 March 2020
Physiotherapy
Supporting
employment
Total
£
£
£
Income within charitable activities
490,000
130,770
620,770
Analysis by fund
Unrestricted funds
490,000
130,770
620,770
5
Fundraising events
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
Fundraising events
18,129
92,806
6
Investments
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
Interest receivable
403
1,295
7
Other income
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
Coronavirus Job Retention Scheme Grant
218,384
-
Other income
218
2,688
218,602
2,688		 4
Charitable activities
(Continued)
For the year ended 31 March 2020
Physiotherapy
Supporting
employment
Total
£
£
£
Income within charitable activities
490,000
130,770
620,770
Analysis by fund
Unrestricted funds
490,000
130,770
620,770
5
Fundraising events
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
Fundraising events
18,129
92,806
6
Investments
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
Interest receivable
403
1,295
7
Other income
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
Coronavirus Job Retention Scheme Grant
218,384
-
Other income
218
2,688
218,602
2,688
620,770
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
18,129
92,806
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
403
1,295
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
218,384
-
218
2,688
218,602
2,688
2,688

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

8 Raising funds

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Costs of generating donations and legacies and events
Promotion 3,448 79,329
Staff costs 45,009 87,056
Share of support costs (see note 10) 4,804 3,380
53,261 169,765

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

9 Charitable activities

Physiotherapy
Advocacy
and care
support
Supporting
employment
Training
£
£
£
£
Staff costs
200,385
85,873
53,902
18,721
Share of support costs
(see note 10)
46,764
272,567
113,789
21,924
Share of governance
costs (see note 10)
2,599
2,599
2,599
2,599
249,748
361,039
170,290
43,244
Analysis by fund
Unrestricted funds
239,610
259,519
170,290
43,244
Restricted funds
10,138
101,520
-
-
249,748
361,039
170,290
43,244
For the year ended 31 March 2020
Physiotherapy
Advocacy
and care
support
Supporting
employment
£
£
£
Staff costs
225,520
85,467
56,782
Share of support costs (see note 10)
84,435
333,727
145,080
Share of governance costs (see note
10)
2,549
2,549
2,548
312,504
421,743
204,410
Analysis by fund
Unrestricted funds
312,504
363,221
204,410
Restricted funds
-
58,522
-
312,504
421,743
204,410		 Total
2021
£
358,881
455,044
10,396
824,321
712,663
111,658
824,321
Training
£
12,571
23,355
2,548
38,474
38,474
-
38,474		 Total
2020
£
380,340
586,597
10,194
977,131
Total
£
380,340
586,597
10,194
977,131
918,609
58,522
977,131

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

10 Support costs

Staff costs
Depreciation
Utilities and
communications
Travel
Printing
Maintenance
Insurance and general
expenses
Audit fees
Accountancy
Legal and professional
Analysed between
Fundraising
Charitable activities		 Support
costs
Governance
costs
£
£
257,667
-
20,562
-
18,622
-
15,074
-
59,488
-
55,302
-
33,133
-
-
2,650
-
3,470
-
4,276
459,848
10,396
4,804
-
455,044
10,396
459,848
10,396		 2021
£
257,667
20,562
18,622
15,074
59,488
55,302
33,133
2,650
3,470
4,276
470,244
4,804
465,440
470,244		 Support
costs
Governance
costs
£
£
264,314
-
37,282
-
19,012
-
35,592
-
93,583
-
68,292
-
71,902
-
-
2,600
-
3,160
-
4,434
589,977
10,194
3,380
-
586,597
10,194
589,977
10,194		 2020
£
264,314
37,282
19,012
35,592
93,583
68,292
71,902
2,600
3,160
4,434
600,171
3,380
596,791
600,171

Support costs are allocated on the basis of time spent/usage. Governance costs are split equally between activities.

11 Auditor's remuneration

The analysis of auditor's remuneration is as follows:

The analysis of auditor's remuneration is as follows:
Fees payable to the company's auditor for the audit of the company's annual
accounts
All other non-audit services		 2021
£
2,650
3,470		 2020
£
2,600
3,160

12 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year (2020 £nil) and no trustees were reimbursed expenses (2020, no trustees were reimbursed expenses).

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

13 Employees

Number of employees

The average monthly number of employees during the year was:

Charitable activities
Fundraising
Administration
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2021
Number
28
3
1
32
2021
£
568,288
36,095
57,174
661,557		 2020
Number
34
3
1
38
2020
£
633,228
40,837
57,645
731,710

Redundancy payments of £11,782 (2020 £nil) were paid in the year.

There were no employees whose annual remuneration was £60,000 or more.

14 Tangible fixed assets

Cost
At 1 April 2020
At 31 March 2021
Depreciation
At 1 April 2020
Depreciation charged in the year
At 31 March 2021
Carrying amount
At 31 March 2021
At 31 March 2020		 Short
leasehold
property
£
1,035,041
1,035,041
354,338
13,093
367,431
667,610
680,703		 Fixtures,
fittings &
equipment
£
248,429
248,429
231,505
7,469
238,974
9,455
16,924		 Total
£
1,283,470
1,283,470
585,843
20,562
606,405
677,065
697,627

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

14 Tangible fixed assets

(Continued)

All tangible assets are used in functions of the charity and are shown at written down cost. All material assets are used for direct charitable activities. The leasehold land and buildings are subject to a lease that has recently been renewed and will expire in August 2077.

15 Fixed asset investments

Cost or valuation
At 1 April 2020 & 31 March 2021
Carrying amount
At 31 March 2021
At 31 March 2020
Other investments comprise:
Notes
Investments in subsidiaries
16		 Other
investments
9
9
9
2021
2020
£
£
9
9		 Other
investments
9
9
9
2021
2020
£
£
9
9
9
9
2020
£
9
Subsidiaries
Details of the charity's subsidiary at 31 March 2021 are as follows:

16 Subsidiaries

The aggregate capital and reserves and the The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation
was as follows:
Name of undertaking Profit/(Loss) Capital and
Reserves
£ £
NMC Trading Limited - 9

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

17
Financial instruments
Carrying amount of financial assets
Debt instruments measured at cost
Equity instruments measured at cost
Carrying amount of financial liabilities
Measured at cost
18
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
19
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
20
Trade creditors
Amounts due to subsidiary undertakings
Other creditors
Accruals		 2021
£
623,916
9
623,925
10,555
2021
£
47,499
1,770
8,314
57,583
2021
£
9,090
40,794
4,576
9
-
5,970
60,439		 2020
£
385,461
9
385,470
16,038
2020
£
48,997
3,396
10,530
62,923
2020
£
11,609
864
10,354
9
35
5,640
28,511

20 Deferred income

Total deferred income at 1 April 2020
Amounts received in year
Amounts credited to statement of financial activities		 2021
£
864
40,794
(864)
40,794		 2020
£
13,169
864
(13,169)
864

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

21 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to the statement of financial activities in respect of defined contribution schemes was £57,174 (2020 - £57,645). Contributions totalling £nil (2020 - £35) were payable to the fund at the balance sheet date and are included within creditors.

Restricted funds The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: Movement in funds
Movement in funds		 Balance at
Income
Expenditure
Balance at
Income
Expenditure
Balance at		 1 April 2019
1 April 2020
31 March 2021		 £
£
£
£
£
£
£		 Physiotherapy fund
-
2,560
(2,560)
-
-
-
-		 Support worker fund
-
28,365
(28,365)
-
-
-
-		 Transition and development
-
33,597
(27,597)
6,000
69,573
(48,120)
27,453		 National Lottery Community Fund
-
-
-
-
53,000
(53,000)
-		 The National Lottery Reaching Communities Fund
-
-
-
-
10,138
(10,138)
-		 -
64,522
(58,522)
6,000
132,711
(111,258)
27,453		 Physiotherapy fund- a core service of the NMC, this fund ensures the department has modern equipment with which to provide innovative and specialist treatments. Support worker fund- this role provides a range of services including equipment and adaptation advice, guidance on benefits and work assistance, and emotional support in times of need. Transition & Development Fund – meeting the growing demand from younger people, NMC now provides services to support them into adulthood, with independence, work readiness and personal growth being key aims. independence, work readiness and personal growth being key aims. The National Lottery Community Fund Coronavirus Community Support Fund provided funding for the return of Covid-19 safe services, specifically for specialist staff, PPE and additional costs incurred by changing delivery methods. The National Lottery Reaching Communities Fund enables the provision of services to enhance social connectivity for people affected by neuromuscular conditions across the North West.
22

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

23
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2021
2021
£
£
Fund balances at
31 March 2021
are represented
by:
Tangible assets
677,065
-
Investments
9
-
Current assets/
(liabilities)
546,108
27,453
1,223,182
27,453		 Total Unrestricted
2021
2020
£
£
677,065
697,627
9
9
573,561
364,876
1,250,635
1,062,512		 Restricted
funds
2020
£
-
-
6,000
6,000		 Total
2020
£
697,627
9
370,876
1,068,512

24 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2021
£
703
-
703		 2020
£
2,813
703
3,516

25 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel, is as follows.

2021 2020
£ £
Aggregate remuneration 69,503 69,906

As at 31 March 2021, there is a creditor balance owing to the wholly owned subsidiary NMC Trading Limited of £9 (2020: £9).

There were no other related party transactions.

No guarantees have been given or received.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

26 Company limited by guarantee

The Neuromuscular Centre is incorporated under the Companies Act as a company limited by guarantee. The Neuromuscular Centre is incorporated under the Companies Act as a company limited by guarantee. The Neuromuscular Centre is incorporated under the Companies Act as a company limited by guarantee.
The liability of the members is limited to £1.
27 Cash generated from operations 2021 2020
£ £
Net income for the year (as per the statement of financial activities) 182,123 56,642
Adjustments for:
Investment income recognised in statement of financial activities (403) (1,295)
Depreciation of tangible fixed assets 20,562 37,282
Movements in working capital:
Decrease in debtors 5,340 26,542
(Decrease) in creditors (8,002) (8,636)
Increase/(decrease) in deferred income 39,930 (12,305)
Net cash provided by operating activities 239,550 98,230