OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-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 2022

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION

Trustees
M Hawes
A Jeffs
I Martin
D Okell (Chair)
M Roberts (not a director)
W Stothart
S Monteiro (Appointed 15 July 2021)
W Duckworth (Appointed 14 October 2021)
R Diaz (Appointed 14 October 2021)
Chief Executive
M Lanham OBE
Secretary
B Dale
Charity number
1023606
Company number
2806607
Registered office
Woodford Lane West
Winsford
Cheshire
CW7 4EH
Auditors
BWM
Tempest
Suit 5.1
12 Tithebarn Street
Liverpool
L2 2DT
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 - 6
Statement of trustees' responsibilities 7
Independent auditor's report 8 - 10
Statement of financial activities 11 - 12
Balance sheet 13
Statement of cash flows 14
Notes to the financial statements 15 - 30

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

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 2022

NMC strategy for 2022-24

During the past year we developed 6 new strategic objectives for NMC;

Objective 1

Provide impactful social and academic opportunities for our community

Objective 2

Enrich the emotional and physical wellbeing of people affected by neuromuscular conditions

Objective 3

Inspire, inform, and enable our community to make an active contribution to society

Objective 4

Develop a thorough understanding of people in our community and respond in tailored ways

Objective 5

Run an effective and professional organisation with excellent governance with sustainability at the core

Objective 6

Increase awareness of MD and NMC and increase our influence

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.

Fundraising performance

Achievements and performance Achievements in 2021-22

The most substantial achievement during the year has been to reduce our waiting list of 180 people. This had built up over the pandemic period and we resolved to make reducing it the priority for our charity. The vast majority of those previously waiting have now visited and been introduced to the Centre and the ways we may be able to help, treat, and support. Our short waiting list now reflects a position similar to that pre-pandemic and we are confident that no one now has to wait for more than a few weeks before meeting us and discussing how best we might help.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

Below are last year’s main plans with the achievement highlighted beneath each one;

Orders have indeed bounced back and the Social Enterprise has performed well during the year.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

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 2022-23

  1. A greater focus on diversity and inclusion beginning with a Trustee Workshop session on the theme of “Do I belong?”.

  2. A major investment and diversification with Design and Print. A new laser cutter is being purchased to open a range of new products and design solutions for customers.

  3. We continue to develop our outdoor space to maximise wellbeing with individually maintained and designed mini-gardens/planters.

  4. For our staff team we are mindful of the cost of living crisis and commit to being as responsive as possible to ensure our team are retained and are able to have thriving lives.

  5. Continue to strengthen and diversify our support offerings for mental health improvement and general wellbeing. Pilates, art therapy and yoga feature as new elements in the plan for the year ahead.

  6. We plan to extend our range of support by developing groups that are themed around those newly diagnosed, or new parents, siblings and those considering having a family.

  7. Introduce new services such as manual lymphatic drainage and podiatry.

  8. Explore the provision of accessible accommodation near to the NMC.

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 £1,244,952, with free reserves being £581,366. 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.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

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:

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 (Resigned 15 April 2021)
G Edwards (Resigned 28 April 2022)
M Hawes
A Jeffs
I Martin
S McDowell (Resigned 15 April 2021)
D Okell (Chair)
M Roberts (not a director)
E Sands (Resigned 6 September 2021)
W Stothart
S Monteiro (Appointed 15 July 2021)
W Duckworth (Appointed 14 October 2021)
R Diaz (Appointed 14 October 2021)

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

In accordance with the company's articles, a resolution proposing that BWM be reappointed as auditor of the company will be put at a General Meeting.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

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.

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)

Trustee Dated: 26 July 2022

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2022

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 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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.

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in 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.

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 28 July 2022
Chartered Accountants
Statutory Auditor
Tempest
Suit 5.1
12 Tithebarn Street
Liverpool
L2 2DT

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

FOR THE YEAR ENDED 31 MARCH 2022

Current financial year Current financial year Current financial year
Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£		 Total Restated
funds funds Total
2022 2022 2022 2021
£ £ £ £
Income from:
Donations and legacies
3		 343,786 73,994 417,780 729,536
Charitable activities
4		 491,070 - 491,070 311,419
Fundraising events
5		 46,106 - 46,106 18,129
Investments
6		 232 - 232 403
Other income
7		 887 - 887 218
Total income 882,081 73,994 956,075 1,059,705
Expenditure on:
Raising funds
8		 116,495 - 116,495 53,261
Charitable activities
9		 750,121 95,142 845,263 824,321
Total expenditure
866,616 95,142 961,758 877,582
15,465
Net movement in funds (21,148) (5,683) 182,123
Reconciliation of funds
Fund balances at 1 April 2021
Fund balances at 31 March 2022		 1,223,182 27,453 1,250,635 1,068,512
1,238,647 6,305 1,244,952 1,250,635

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 2022

Prior financial year

Prior financial year Prior financial year Prior financial year
Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Total
funds funds
2021 2021 2021
£ £ £
Income from:
Donations and legacies
3		 596,425 133,111 729,536
Charitable activities
4		 311,419 - 311,419
Fundraising events
5		 18,129 - 18,129
Investments
6		 403 - 403
Other income
7		 218 - 218
Total income 926,594 133,111 1,059,705
Expenditure on:
Raising funds
8		 53,261 - 53,261
Charitable activities
9		 712,663 111,658 824,321
Total expenditure
765,924 111,658 877,582
Net movement in funds 160,670 21,453 182,123
Reconciliation of funds
Fund balances at 1 April 2019
Fund balances at 31 March 2020		 1,062,512 6,000 1,068,512
1,223,182 27,453 1,250,635

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 2022

Notes 2022 2022 2021 2021
£ £ £ £
Fixed assets
Tangible assets
14
Investments
15
Current assets		 139,954
537,853
677,807
(90,136)		 657,272
9
657,281
587,671
1,244,952
6,305
1,238,647
1,244,952		 57,583
576,417
634,000
(60,439)
677,074
546,108
1,223,182		 677,065
9
677,074
Debtors
18
Cash at bank and in hand
Liabilities:
Creditors: amounts falling due within one
year
19
Net current assets 573,561
Total net assets
1,250,635
The funds of the charity:
Restricted funds
22		 657,281
581,366
1,238,647		 27,453
Unrestricted funds
Unrestricted funds represented by fixed assets
Free reserves
General unrestricted funds
Total unrestricted funds
1,223,182
Total charity funds 1,250,635

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 26 July 2022 and are signed on its behalf by:

D Okell (Chair)

Trustee

Company Registration No. 2806607

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2022

Notes
Cash flows from operating activities
Net cash provided by operating activities
27
Cash flows from investing activities		 2022 2021
£ £ £ £
232 (38,795)
232
(38,563)
576,417
537,853		 403
239,550
Interest received
Net cash generated from investing
activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
403
239,953
336,464
576,417

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

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 financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). 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 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.

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.

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

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

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.

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.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

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 the statement of financial activities.

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.

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.

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

FOR THE YEAR ENDED 31 MARCH 2022

(Continued)

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.

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.

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

FOR THE YEAR ENDED 31 MARCH 2022

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2022
2022
£
£		 Unrestricted
Restricted
funds
funds
2022
2022
£
£		 Unrestricted
Restricted
funds
funds
2022
2022
£
£		 Total
Unrestricted
Restricted		 Total
Unrestricted
Restricted		 Total
Unrestricted
Restricted		 Total
funds funds funds
Restated		 funds
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Donations and gifts 308,442 73,994 382,436 353,041 133,111 486,152
Legacies receivable - - - 25,000 - 25,000
Grants receivable 35,344 - 35,344 218,384 - 218,384
Donations and gifts
343,786 73,994 417,780 596,425 133,111 729,536
Community donations 129,009 - 129,009 131,511 - 131,511
Trust and corporate
donations
179,433 73,994 253,427 221,530 133,111 354,641
Grants receivable for
core activities
308,442 73,994 382,436 353,041 133,111 486,152
Job Retention Scheme 35,344 - 35,344 218,384 - 218,384
35,344 - 35,344 218,384 - 218,384

The comparative year restatement relates to Job Retention Scheme income received in 2020/21 of £218,384 being reallocated from other income to grant income.

4 Charitable activities

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds funds funds
Physiotherapy Supporting Total Total
employment 2022 2021
£ £ £ £
Income within charitable activities 376,391 114,679 491,070 311,419

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

4
Charitable activities
(Continued)		 4
Charitable activities
(Continued)		 4
Charitable activities
(Continued)		 4
Charitable activities
(Continued)		 4
Charitable activities
(Continued)
For the year ended 31 March 2021
Physiotherapy
Supporting
employment
£
£
Income within charitable activities
242,968
68,451
Analysis by fund
Unrestricted funds
242,968
68,451
Total
£ £ £
242,968 68,451 311,419
242,968 68,451 311,419
5
Fundraising events
Fundraising events Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
funds funds
2022 2021
£ £
46,106 18,129
6
Investments
Interest receivable Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
funds funds
2022 2021
£ £
232 403
7
Other income
Other income Unrestricted
Unrestricted
funds
funds
Restated
2022
2021
£
£
887
218

Other income of £887 (2021: £218) relates to a Feed-in Tariff (FIT) payment received from the charity's energy provider.

See note 3 for explanation of comparative year restatement.

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

FOR THE YEAR ENDED 31 MARCH 2022

7
Other income
(Continued)		 7
Other income
(Continued)		 7
Other income
(Continued)
8
Raising funds
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Costs of generating donations and legacies and events
Promotion
38,580
3,448
Staff costs
74,301
45,009
Share of support costs (see note 10)
3,614
4,804
116,495
53,261
funds funds
2022 2021
£ £
38,580 3,448
74,301 45,009
3,614 4,804
116,495 53,261

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

FOR THE YEAR ENDED 31 MARCH 2022

9 Charitable activities

Physiotherapy
Advocacy
and care
support
Supporting
employment
£
£
£		 Physiotherapy
Advocacy
and care
support
Supporting
employment
£
£
£		 Physiotherapy
Advocacy
and care
support
Supporting
employment
£
£
£		 Physiotherapy
Advocacy
and care
support
Supporting
employment
£
£
£		 Training Total
2022		 Total
2021
£ £ £ £ £ £
Staff costs 216,684 76,824 45,450 14,247 353,205 358,881
Share of support costs
(see note 10)
78,456 255,461 130,353 19,244 483,514 455,044
Share of governance
costs (see note 10)
2,136 2,136 2,136 2,136 8,544 10,396
Analysis by fund
297,276 334,421 177,939 35,627 845,263 824,321
750,121
95,142
845,263
Unrestricted funds 289,986 246,569 177,939 35,627
Restricted funds 7,290 87,852 - -
297,276 334,421 177,939 35,627

For the year ended 31 March 2021

Physiotherapy
Advocacy
and care
support
Supporting
employment
£
£
£		 Physiotherapy
Advocacy
and care
support
Supporting
employment
£
£
£		 Physiotherapy
Advocacy
and care
support
Supporting
employment
£
£
£		 Physiotherapy
Advocacy
and care
support
Supporting
employment
£
£
£		 Training Total
£ £ £ £ £
Staff costs 200,385 85,873 53,902 18,721 358,881
Share of support costs (see note 10) 46,764 272,567 113,789 21,924 455,044
Share of governance costs (see note
10)
2,599 2,599 2,599 2,599 10,396
Analysis by fund
249,748 361,039 170,290 43,244 824,321
Unrestricted funds 239,610 259,519 170,290 43,244 712,663
Restricted funds 10,138 101,520 - - 111,658
249,748 361,039 170,290 43,244 824,321

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

FOR THE YEAR ENDED 31 MARCH 2022

10 Support costs

Support costs
Support
costs
Governance
costs		 2022
Support costs
Governance
costs		 2021
£ £ £ £ £ £
Staff costs 232,871 - 232,871 257,667 - 257,667
Depreciation 19,794 - 19,794 20,562 - 20,562
Utilities and
communications
19,853 - 19,853 18,622 - 18,622
Travel 17,375 - 17,375 15,074 - 15,074
Printing 85,595 - 85,595 59,488 - 59,488
Maintenance 50,788 - 50,788 55,302 - 55,302
Insurance and general
expenses
60,852 - 60,852 33,133 - 33,133
Audit fees - 2,700 2,700 - 2,650 2,650
Accountancy - 1,980 1,980 - 3,470 3,470
Legal and professional - 3,864 3,864 - 4,276 4,276
487,128 8,544 495,672 459,848 10,396 470,244
Analysed between
Fundraising 3,614 - 3,614 4,804 - 4,804
Charitable activities 483,514 8,544 492,058 455,044 10,396 465,440
487,128 8,544 495,672 459,848 10,396 470,244

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

11 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year (2021: £nil) and no trustees were reimbursed expenses (2021: none).

12 Auditor's remuneration

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		 2022 2021
£ £
2,700 2,650
All other non-audit services 1,980 3,470

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

FOR THE YEAR ENDED 31 MARCH 2022

13 Employees

Number of employees

The average monthly number of employees during the year was:

Number of employees
The average monthly number of employees during the year was:
2022 2021
Number Number
Charitable activities 27 28
Fundraising 3 3
Administration 1 1
31 32
Employment costs 2022 2021
£ £
Wages and salaries 571,742 568,288
Social security costs 35,173 36,095
Other pension costs 53,462 57,174
660,377 661,557

Redundancy payments of £695 (2021: £11,782) were paid in the year.

There were no employees whose annual remuneration was £60,000 or more (2021: none).

14 Tangible fixed assets

Tangible fixed assets
Short
leasehold
property		 Fixtures,
fittings &
equipment		 Total
£ £ £
Cost
At 1 April 2021 1,035,041 248,429 1,283,470
At 31 March 2022 1,035,041 248,429 1,283,470
Depreciation
At 1 April 2021 367,431 238,974 606,405
Depreciation charged in the year 13,072 6,721 19,793
At 31 March 2022 380,503 245,695 626,198
Carrying amount
At 31 March 2022 654,538 2,734 657,272
At 31 March 2021 667,610 9,455 677,065

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.

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

FOR THE YEAR ENDED 31 MARCH 2022

15 Fixed asset investments

Other
investments
Cost or valuation		 Other
investments
Cost or valuation
Cost or valuation
At 1 April 2021 & 31 March 2022 9
Carrying amount
At 31 March 2022 9
At 31 March 2021 9
2022
Other investments comprise:
Notes
£
2021
£
Investments in subsidiaries
16
9		 9

16 Subsidiaries

Details of the charity's subsidiary at 31 March 2022 are as follows:

Name of undertaking and country of Name of undertaking and country of Nature of business
Class of		 % Held % Held
incorporation or residency shareholding Direct Indirect
NMC Trading Limited England and Dormant
Ordinary
Wales 100.00 -

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 2022

17
Financial instruments		 2022 2021
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		 £ £
662,204 623,916
9 9
662,213 623,925
12,172 10,555
2022 2021
£ £
121,113 47,499
5,404 1,770
13,437 8,314
139,954 57,583
Notes
Other taxation and social security
Deferred income
20
Trade creditors
Amounts due to subsidiary undertakings
Accruals
20
Deferred income
Total deferred income at 1 April 2021
Amounts received in year
Amounts credited to statement of financial activities		 2022 2021
£ £
11,628 9,090
66,336 40,794
6,483 4,576
9 9
5,680 5,970
90,136 60,439
2022 2021
£ £
40,794 864
66,336 40,794
(40,794) 864
66,336 40,794

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

FOR THE YEAR ENDED 31 MARCH 2022

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 £53,462 (2021: £57,174).

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

FOR THE YEAR ENDED 31 MARCH 2022

22 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
1 April 2020
Income
Expenditure
Balance at
1 April 2021
Income
Expenditure
Balance at
31 March 2022
£
£
£
£
£
£
£
Physiotherapy fund
-
-
-
-
12,875
(7,290)
5,585
Support worker fund
-
-
-
-
21,165
(20,445)
720
Transition and development
6,000
69,573
(48,120)
27,453
39,954
(67,407)
-
National Lottery Community Fund
-
53,000
(53,000)
-
-
-
-
The National Lottery Reaching Communities Fund
-
10,138
(10,138)
-
-
-
-
6,000
132,711
(111,258)
27,453
73,994
(95,142)
6,305		 Movement in funds
Movement in funds
Balance at
1 April 2020
Income
Expenditure
Balance at
1 April 2021
Income
Expenditure
Balance at
31 March 2022
£
£
£
£
£
£
£
Physiotherapy fund
-
-
-
-
12,875
(7,290)
5,585
Support worker fund
-
-
-
-
21,165
(20,445)
720
Transition and development
6,000
69,573
(48,120)
27,453
39,954
(67,407)
-
National Lottery Community Fund
-
53,000
(53,000)
-
-
-
-
The National Lottery Reaching Communities Fund
-
10,138
(10,138)
-
-
-
-
6,000
132,711
(111,258)
27,453
73,994
(95,142)
6,305		 Movement in funds
Movement in funds
Balance at
1 April 2020
Income
Expenditure
Balance at
1 April 2021
Income
Expenditure
Balance at
31 March 2022
£
£
£
£
£
£
£
Physiotherapy fund
-
-
-
-
12,875
(7,290)
5,585
Support worker fund
-
-
-
-
21,165
(20,445)
720
Transition and development
6,000
69,573
(48,120)
27,453
39,954
(67,407)
-
National Lottery Community Fund
-
53,000
(53,000)
-
-
-
-
The National Lottery Reaching Communities Fund
-
10,138
(10,138)
-
-
-
-
6,000
132,711
(111,258)
27,453
73,994
(95,142)
6,305		 Movement in funds
Movement in funds
Balance at
1 April 2020
Income
Expenditure
Balance at
1 April 2021
Income
Expenditure
Balance at
31 March 2022
£
£
£
£
£
£
£
Physiotherapy fund
-
-
-
-
12,875
(7,290)
5,585
Support worker fund
-
-
-
-
21,165
(20,445)
720
Transition and development
6,000
69,573
(48,120)
27,453
39,954
(67,407)
-
National Lottery Community Fund
-
53,000
(53,000)
-
-
-
-
The National Lottery Reaching Communities Fund
-
10,138
(10,138)
-
-
-
-
6,000
132,711
(111,258)
27,453
73,994
(95,142)
6,305		 Movement in funds
Movement in funds
Balance at
1 April 2020
Income
Expenditure
Balance at
1 April 2021
Income
Expenditure
Balance at
31 March 2022
£
£
£
£
£
£
£
Physiotherapy fund
-
-
-
-
12,875
(7,290)
5,585
Support worker fund
-
-
-
-
21,165
(20,445)
720
Transition and development
6,000
69,573
(48,120)
27,453
39,954
(67,407)
-
National Lottery Community Fund
-
53,000
(53,000)
-
-
-
-
The National Lottery Reaching Communities Fund
-
10,138
(10,138)
-
-
-
-
6,000
132,711
(111,258)
27,453
73,994
(95,142)
6,305		 Movement in funds
Movement in funds
Balance at
1 April 2020
Income
Expenditure
Balance at
1 April 2021
Income
Expenditure
Balance at
31 March 2022
£
£
£
£
£
£
£
Physiotherapy fund
-
-
-
-
12,875
(7,290)
5,585
Support worker fund
-
-
-
-
21,165
(20,445)
720
Transition and development
6,000
69,573
(48,120)
27,453
39,954
(67,407)
-
National Lottery Community Fund
-
53,000
(53,000)
-
-
-
-
The National Lottery Reaching Communities Fund
-
10,138
(10,138)
-
-
-
-
6,000
132,711
(111,258)
27,453
73,994
(95,142)
6,305		 Movement in funds
Movement in funds
Balance at
1 April 2020
Income
Expenditure
Balance at
1 April 2021
Income
Expenditure
Balance at
31 March 2022
£
£
£
£
£
£
£
Physiotherapy fund
-
-
-
-
12,875
(7,290)
5,585
Support worker fund
-
-
-
-
21,165
(20,445)
720
Transition and development
6,000
69,573
(48,120)
27,453
39,954
(67,407)
-
National Lottery Community Fund
-
53,000
(53,000)
-
-
-
-
The National Lottery Reaching Communities Fund
-
10,138
(10,138)
-
-
-
-
6,000
132,711
(111,258)
27,453
73,994
(95,142)
6,305		 Movement in funds
Movement in funds
Balance at
1 April 2020
Income
Expenditure
Balance at
1 April 2021
Income
Expenditure
Balance at
31 March 2022
£
£
£
£
£
£
£
Physiotherapy fund
-
-
-
-
12,875
(7,290)
5,585
Support worker fund
-
-
-
-
21,165
(20,445)
720
Transition and development
6,000
69,573
(48,120)
27,453
39,954
(67,407)
-
National Lottery Community Fund
-
53,000
(53,000)
-
-
-
-
The National Lottery Reaching Communities Fund
-
10,138
(10,138)
-
-
-
-
6,000
132,711
(111,258)
27,453
73,994
(95,142)
6,305
Income
Expenditure
Balance at
1 April 2021		 Income
Expenditure
Balance at
31 March 2022
£ £ £ £ £ £ £
12,875
21,165
39,954
Physiotherapy fund - - - - (7,290) 5,585
Support worker fund - - - - (20,445) 720
Transition and development 6,000 69,573
(48,120)
53,000
(53,000)
10,138
(10,138)
132,711
(111,258)		 (48,120) 27,453 (67,407) -
National Lottery Community Fund - (53,000) - - - -
The National Lottery Reaching Communities Fund - (10,138) - - - -
73,994
6,000 27,453 (95,142) 6,305

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.

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.

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

FOR THE YEAR ENDED 31 MARCH 2022

23
Analysis of net assets between funds		 23
Analysis of net assets between funds		 23
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2022
2022
£
£
Fund balances at
31 March 2022
are represented
by:
Tangible assets
657,272
-
Investments
9
-
Current assets/(liabilities)
581,366
6,305
1,238,647
6,305		 Total
Unrestricted		 Restricted
funds		 Total
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
657,272 - 657,272 677,065 - 677,065
9 - 9 9 - 9
581,366 6,305 587,671 546,108 27,453 573,561
1,238,647 6,305 1,244,952 1,223,182 27,453 1,250,635

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		 2022 2021
£ £
1,196 703
1,794 -
2,990 703

25 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel, is as follows.

2022 2021
£ £
Aggregate remuneration 69,930 69,503

As at 31 March 2022, there is a creditor balance owing to the wholly owned subsidiary NMC Trading Limited of £9 (2021: £9).

There were no other related party transactions.

No guarantees have been given or received.

26 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.

NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

27
Cash generated from operations		 2022 2021
£
182,123
Net income for the year (as per the statement of financial activities)
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Increase in deferred income
Net cash provided by operating activities		 £
(5,683)
(232) (403)
19,794 20,562
5,340
(82,371)
4,155 (8,002)
25,542 39,930
239,550
(38,795)

Document Activity Report

Document Sent

Fri, 05 Aug 2022 12:36:09 GMT

Document Activity History

Document history shows most recent activity first

Date

Activity

You can verify that this is a genuine Portal document by uploading it to the following secure web page:

http://bwm.accountantspace.co.uk/messages/VerifyDocument