CharSty Reglstratlon No. 1023606 Company Registration No. 2806607 (England and Walesl NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION Trusts•s M Hawes l Martin D Okel Ichairl M Roberts (not a director) W Stothart S Monteiro W Ducknvorth R Diaz Chlef Executlve M Lanham OBE Secrotsry B Dale Chorlty numbttr 1023606 Company numb•r 2806607 R•gl8t•r•d offlc• Woodford Lane West Winslord Cheshire CW7 4EH Audltor• Suite 5.1 12 rrthebam Street Liverpool L2 20T 8ank?rn Barclays Bank Pk 21 Dingle Walk Winslord Cheshire CW7 1AG Nationwde Building Society 5- 11 St Georges Slreel Douglas Isle of Man IM99 1AS Sollcltor Barrow & Cook 5-7 Viclona Square St Helen5 Merseyside WA10 1HH
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE CONTENTS Pagè Trustees, report Statement ol trustees, responsibilities Independent auditorfs report Slalemenl ol finanual 8¢tivitie$ 10- 11 8¥lan¢e $h&el 12 Statement of cash flows 13 Notes to the financial statements 14-29
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The trustees present their annual report and financial statements for the year ended 31 March 2023. The financi81 slalernents have been prepared in 8rdan ¥1h the accountsng poliryes set out in note 1 to the financial staternents and compty wth the charty's mernorandurn and artides of association las arnended 17 October 20191, the Companies Act 20( and "Accounting and Reporting by Charities". Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffeclive 1 January 20191.. Objectives and activities The NMC is the Centre of Excellence for people affected by neuromuscular ndItiOnS. Charltable objects The objects of the NMC are to promote and provide opportunrties for people with a neurornuscular condition to live fuller lives through training, employment and physiotherapy. logether with advice and silPPOrt for themselves and their tsmilies and carers. Ml8•lon The NMC'S mission is to work together th people affected by musde diseases. creating an environment where lull potential and positive wellbeing a achieved. Ihrough employment. training. support and physiotherapy. Alm$ #nd ¥¢tlvlll•$ The NMC aims lo be largety user led and lo provid& a range of for ppIt affed&d by mu$de dis&as&. Atthough servi¢¥ users a predominanlty from within a 100 milè radius of Wn$for¢J, Cheshi, many attend the Centre from across the UK and Europe. The range of services includes.. Physiotherapy assessments Physiotherapy treatments Hydrotherapy Activè ex6rciss programmes Advice and support Supporting families In transltion Provide personal ca Support and breaks for carers Training courses in Graphic De$an. Animation. MUS and Pholography Other Training courses Employrnenl opportunities in Gr8phi¢ Design lin lh& Sou81 Enlery)rise', NMC Design+Prinll, Administration and Fundraising. Provide transport for Students and Employees to enable maximum independence and opportunity. The unique combination of services provided by Ihe charity are offered d1Ctty lo individua15 and their families across the UK. Where practible. physical management programmes are tailored to the need5 of each individual, depending on their type of dystrophy and physiral CA)ndition. through regular 5es$ions of physiotheiapy and hydiotherapy. As a 'centie of excellence. in the physical management of muscular <tystrophy and related neuromuscular condrtions, the chanty offets help and advice to other organisations worldwide. The charity has established a welprespected graphic design business, NMC Design+Print, in which Ihe variety of skills and talents of the individuals can be employed. developed and rewarded under both salaried permitted work arrangements. The NMC provKles wheelchair-ad8pled tran5POrt for individu81s 8ttending the Centre.
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 NMC strategy for 2022-24 During the p8St year we developed 6 new stralegic obiecb¥es for NMC.. Objective 1 Provide impacfful social and academic opportunities for our community Objective 2 Enrich the emotional and physical wellbeir¥J of people 8ffe¢aed by neuromuscular conditn$ Objective 3 Inspire, Inform. and enable our communty to make an ath.ve contribution to souety Objective 4 Develop a thorough understsnding of people in our cxjmmunity and respond in tailored ways Objective 5 Run an effe¢tiV¢ and prole$'onal organisalion 1h ¢x¢ell&nl go¥&man¢e wilh $u$lainability al tho ¢or¥ Objective 6 Increase awareness of MD and NMC and increase our inlluerKe Volunteer help NMC has a strong group of volunls&r$ working in.. Fundraising- mainty helping al events. Physiotherapy- helping and supporting Ihe Professional Physiotherapists. Board of Trustees- providing scrutiny. oversight. advice. guidance. and strategic d1Ction. so, we have volunleers helping wlh carpentry. gardening. od¢Jobs and building maintenan¢è. Publlc B¥n¥llt The charity trustees conslder that th6y have comFlied h Ihtslr duty In sectk)n 17 of the charfls 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 Unreasonab restn'cted.
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Achievements in 2022-23 1. A greater focus on diversty and indus)n beginning a Trustee Workshop session on the theme of Do I belong?". Achieved 2. A major investment and diversthcation wth Design and PrinL A new laser cutter is being purchased to open a range of new products and design solutions for custom. Achieved 3. We continue lo develop our outdoor space to maximise wellbeing individualty maintained and designed MiniaTdenp1nters. AGhiev8d 4. For our staff team we are mindlul of the cost of h.ving uisis and commft to being as responslve as possible to ensure our team are retained and are able to have thriving lives. Achieved S. Continue to strengthen and diversrfy our suppNt offeriThJs for mental health improvement and general wellbeing. Pilales. art therapy and yoga featu as new elements in the plan for the year ahead. Achieved 6. We p18n lo extend our ran9 ol support by dveloping gfOUPS that 8r¥ Ihemed around those nwly diagnosed, or new parents, siblings and those considering having a famity. Achieved 7. Introduce new services suth as manual tymphalic drainage and podiatry. N8w footcare service established. No progress with manual tymphatic dr8inag8 provisw. 8. Explore the provision of a¢¢$$sible accommodation near lo the NMC. Whllst this m91n$ finnly In our plans. w& hav8 done only very ljmited wortr to pro9$$ il in lh& pasl year Fundralslng perforniance Trust and corporate incorne £353k Cornrnunity donations £157k Events income £63k Slalulory in¢ome £490k Design+Prinl income É98k Flnanclal r•vl•w Nmc's financial perfomian¢e h8$ been sali$f8dory as we ntinUe lo build back po$1-pandem.. The NMC has some assets in the lom of the buildin9 it has on land beased from Cheshire West and Chester Council but no up to date valuation is available. NMC holds no other subsiantial asset beyond ils minibuses. day to day office, physio and IT equipment. NMC has consistenty mainlained lolal unrestricted SelveS al 3 month running costs throughout 2022-23. Rg$erv•$ policy NMC recognises thè noed to build and maintain adequatè resewves, to ensufe that the charity has 8 financial buffer proportionate to rts nomial scale of operations. In doing so. this ¥wll 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 folhjwing thresholds.. 1. A minirnum amount of total unrestriLled resewves of £250.rA)o 2. A minimum amount of nel current assets of £130,l of which cash and marketable invesbnents must not be less than £90,000 The overall totsl is equivalent lo approxirnatety 4 rnonlhs of annual spend and approxirnatety 6 months of annual payroll. The Trustees believe th this is a reasonable and proportionate "buffer. to retain against the risk of unseen probletns. The current reserves level is £1,283,781, wth free reserves being £545,084 and restricted reserves being £11,150.
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Risk management A register of risks is maintained and reviewed regularty by the Trustees. The folltswing risks have been identthed as the most signthcant for the tharity." Financial sustainability.. recognising thal maintaining income levels is essential to the charty's financial sustainability. The charity continues lo monitor the risks assoaated with its diverse voluntary income streams Reputation and brand.. the chanty monrlors the risks associaled with all aspects of reputation 8nd h8s pul in place strate9ies to reach and enga9e wrth beneficiaries and other organisations. Recruitment and retention ol staff". the tharity aims to be an organisation where staff are supported and developed and wttere employees have a sense of fuffilmenl. During the year all managers participated in a bespoke management development programme to extend Iheir skills. Plans for 2023-24 1. Following the pandemic and 8 lot of staff changes. we WIN give focus lo developing and cons01idats.ng the new young team members we n¢)w have. We will seek to encourage mentoring. We wll 5e&k lo strèn9thÈn the youthlexperiÈn¢è balance. 2. Following the death of the pi¥otal leader of NMC D*Sn+print in 2022 w& wll seek to r&bulld, restructure, and refocus the soaal enterprise for a thriving fu1u. 3. Succession planning for long service senior staff is a key priorty in the coming year. 4. Explore the provision of accessible accommodation near to the NMC. 5. Continue to develop and exploil the opportunities provided to NMC Deswn+Print following the investment in the Laser cutterlengraver. 6. Hold special events and make Invè$tmenls in key pèrsonnel lo help the NMC community tackle the personal post-pandemic challenges. These include issues of housing, employment, support, physical and emotional heahh. 7. Improve outdoor accessibilty onsite. This indudes layIng the car park and re-furbishing and extending accessible paths and boardwalks. 8. Develop a new Fundraisin9 Stralegy to rtrflect ¢h8nges in souety, the m8rktrtpl8¢e for #vèn18, our changed capauty. and the end of our long wnning S'rIt of Christmas fundraising ev¥nl. Structur•, gov•mane• and manag•m•nt The Neuromuscular Centre INMCI is a registered Charity. inCoorated as a company limrted by guarantee. The charity registration nurnber is 10236[ and the company registration number 1$ 2806607. The NMC h8$ 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 We.. G Edwards M Hawes A Jeffs l Martin D Okell (Chairl M Robert$ (not a director) W Stothart S Monteiro W Duckworth R Diaz (Resigned 28 April 20221 IR•si9nèd 13April 2023) Appointment gf tru¥te The charty appointed rts Board of Trustees from 1 April 2012. As vacanaes arise new Trustees are appointed. Trustee Inductlon and tralning Newly appointed trustees receive comprehensive induction induding training on their duties and responsibilrties under company and charity law and also an induth'on into the aciNitses. operational plans and financial perforTh8n ofthe chartty.
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Organisation The Board of Trustees is ultimatety responsible for the rnanagernent of the Neuromuscular Cenlre. The Board will meet quarterfy. A Chief Executive. vthh delegated authority. is appointed by and accountable to the trustees for managing the day-t(daY operations tsfthe NMC and the delivery of operational plans. The remuneration arrangements lor all staff are reviewed annual by the Chair of Trustees and Chief Executive having benChmaed pay levels in the levant employmenl roles and seclors and mindful of changes lo the UK cost of living indices. The Tnjstee Board approve the overall remuneration seiUement as part ol the annual budget setting. Audltor In accordance with the companls articles. a resdution proposing that be reappointed as auditor of the cornpany will be put at a General Meeting. D1$c1Ul0 of Inforniotlon to oudltor Each of the trustees has confirmed Ihat there is no information ol which they are awa which is relevant to the audit, but of which the auditor is unaware. They have lurlher confimed that they have taken appropriate steps to identify such relevant informatson and to e8tablish thal the audrtor 15 8W8re of such information. Small company provl•lon$ Thls report has been prepared In accortlance vAlh Ihe speaal provis¥)n$ relatlng to small companles wlthln Part 15 of the Companies Act 2006. On behalf of the board of Irustee D Oko11 (Chalrl Trustee Dated..
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023 The trustees. who are also the directors ol Neuromuscular Centre for the purpose of company law. are responsible for preparing the Tru5tees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generalty Accepted A¢unty'ng Practice). Company Law requires the trustees to ppa accounts for each financial year which gNe a true and lair view of the state of affairs of the charity and ol the incoming resources and applicatson of SoUrceS, induding the income and expenditure, of the charitable company for that year. In preparing these accounts. the Iruslees are required to.. select suitable accounting policies and Ihen appty Ihem consistenty-. - obsetve the methods and principles in the Charrties SORP-, - rnake judgements and estsmates that are reasonable and pwdent.. $tsle whether applicable UK A¢¢ouniing Stsndards havtr been followed, subjod lo any materi81 dtrp8rture8 disclosed an¢J explained in the a¢¢ounl$", ana prepare the accounts on the going concem basis unless it is inappropriate to presume that the charty will continue in operation. The Iru8lee8 are responsible for keeping 8dequale •c9ting records that disc*)$e with reasonable accuracy al any time Ihtr financial posits'on of the ¢harrty and enablè Ih&m lo ensure that the a¢¢ount$ ¢omply with the Compani¥$ Act 20Cfj. They are al$0 r¢$ponsibl& for $af¢guarding the a$$ets of the charity and hence for taking reasonable steps for th8 prevention and detec1) ol fraud and othèr Irregulanties. The trustees are responsible for the mainlenanrE and inlegrity of ihe tharity and financial infomwtion included on the charity's website. Legislation in Ihe United 'ngdorn goveming the preparation and disseminalion ol financial slalemenls may drffer Irorn legislalion in otheriurisdictions.
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEUROMUSCULAR CENTRE Opinion We have audited the financial statements of Neuromuscular Centre (the 'charty'l for the year ended 31 March 2023 which comprise the statement of finanaal activrties, the balance sheet. the statement ol cash flows and notes to the financial statements, including significanl accounting policies. The ffinanaal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounts'ng Standards. includin9 Finanaal Reporting Standard 102 The Financial Reporting St8nd8rd 8ppIic8ble tin the UK and Republic of lTrland (United Kingdom Generally AvEpted Acwunting PiaGti¢el. In our opinion, the financial statements". give a true and fair view of the state of Ihe tharTt8ble coryany's affairs as al 31 March 2023 and of ils incoming resour¢es and application of resources, induding rts income 8nd expendr(ure, for the year then ended", have been property prepared in acKordance wth United Kingdom Generally Accepted Accounting PraCts... and have been prepared In accordance wrth the requirements of the Companies Act 2006. 8a818 for oplnlon We conducted our aufjlt In a¢¢ordan¢e wilh Intemalional Standafd$ on Auditin9 IUKI IISAS IUKII and appll¢abl$ law. Our résponsibilities under those standards are further desuibed in the Audiloffs msponsibililies for the &udit ol the financial stgtemenls secth)n of our report. We are independenl ol the charity in accordance wrth the ethical requirements that a relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our olher eth1 responsibililie5 in accordance wrth these requirements. We believe that the audit evidence we have obiained is suffirient and 8ppropri8te to provide a basis for our opinion. Con¢lu¥lon$ r*l•tlng io golng ¢on¢em In auditing the financial statements. we have concluded thal the trustees, use of the going concem basis of accounting in the preparation of Ihe financial slatemenls is appropiiate. 8ased on the work we have perfomied. we have not identrfied any material uncertaSnties relatlng to events or conditions that, individually or collective. may cast Slgnificanl doubl on the charity's ability to continue as a going concern for a penod of at least Iwefve months from when the finanaal statements 8re authorised for issue. Our responsibilities and the responsibilities of the tnjstees wth respect to going concem a described in the relevant sections ol this report. Othèr Infomiatoon The other information comprises ihe information included in the annual report other than the finarcial statements and our audi¢orfs report thereon. The tru51ees are responsible lor Ihe other infornialion contained within the annual report. Our opinion on the fin8ncial statements does nol co¥er the other information and. except to the extent otherwise explicitty stated in our report, we do not expiess 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 wrth the financial statements or our kthedge obtained in the course ol the audrt, or othetwise appears to be materialty misstated. If we identify such material inconsistenues or apparent material misstatements, we are required to delemiine whether Ihis gives rise to a material misslatemenl in Ihe financial Statements themselves. 11. based on the work we have performed. we condude that Ihere is 8 rnaterial fflis5tatemenl of this other infomiation. we are required to report that fact. We have nothing to report in this gard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our opinion. based on the work undertaken in the cou15e of our audtL the inforrnation given in the trustees. report for the financial year for which the financial ststements are prepared. which includes the directors, rew)rt prepared for Ihe pufposes of MpanY law. is consistent with the rinancial statement5." and the directors, report induded within the trustees. report has been prepared in ac£ordance wth applicable legal requirements.
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS 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 induded wrthin the trustees. report. We have nothing to report in respect of the followThJ matters in relation to which the Companies Act 2006 requires us to report to you rf. in our opinion.. adequate accounting records have not been kept. or retums adequate for our audrt have not been received from branches not visbted by us., or the financial statements are not in agreement vAth the accounbng records and relums,. or certain disclosures of truslees. remuneralion speuffied by law are not made.. or we have not received all the infomation and explanations we require for our audit," or the trustees were not enti¢led to prepare the financial ststements in accordance wrth the small companies regime and take advantage of the small comp8nies' exempbons in preparing the trustees, report and frorn the requirement lo prepare 8 $tr8legi¢ rewjrt. R••pon•lbllltl•s ol tru8té•s As explained more fully in the statement of trustees. responsibililies. Ihe twstees. who are also the directors of the charity for the purpose of company law. are responsible lor the preparation ol the finanryal stslemenls and for being satisfied that they give a true and lair ¥iew. and for such intemal control as the Iruslees delemine Is necessary to enable the preparation oi financial statements that are free from matenal misslalement, whether due to fraud or error. In preparing the financial slalemenls. the Iruslees are responsible for assessing the charity's ability to continue as a going conm, disdosing. as applicable. matters relaled to going concern and using the going concern basis of accounting unless the trustees erther intend to liqUale the charitable company or lo cease operations, or have no 811$b¢ 8Nem8twe bul tts do so. Audltorf$ rnspon$lbllbll¢$ lor th• audlt of th• finan¢lal $tst¢m*nt• Our objectives are lo obtain reasonable assurance about whelher the financial staternenls as a Who are free from material misslalemenl. whether due to fraud or error. and to 155ue an audito¢s report that includes our opinion. Reasonable assurance is a hi9h level of assur8n¢e but is nol a guarantee Ihat an 8udil conducted in 8¢¢ord8n¢e with ISAS IUKI will always deted a material mis$tslem¥nl when il exists. Mis$tslemenl$ ¢&n arise from fraud or error and are considered material if. IndNidually or in the aggregate, they could reasonabty be expected to influence the economic decisions of users taken on Ihe basis of these financial statements. The extent to which our procedures are capable of detecting iThegularities. induding fraud, is detailed below. Our approach to identifying and a5ses5ing Ihe risks of material mi5slalemenl in respecl of irregularities. induding fraud and non-compliance with laws and regulations. vfds 85 19ll¢)ws'. the engagement partner ensured thal the engagement leam collectivety had the appropriate competen. capabilities and skills lo identify or recognise non-compliance wilh applicable laws and regulations.. we identified the laws and regulations applicable lo the company through di5CUS5ions wrth director5 and other rnanagemenl.. we ft>cused on specific laws and regulalions which we cOnsere may have a direct material effect on the financial statements or the operations of the company. induding the Companies Act 2006, taxation legislation and data protection, anb-bribery. employment and health and safety legislats"on', we assessed the extenl of compliance with the laws and regulations identified above through making enquiries of managernenl and inspecting legal correspondence.. and identrfied18ws and regulations were communicated wilhin Ihe audit team regularfy and Ihe te8m remained alert to instances of non-wmpliance throughout the 8udrt.
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF NEUROMUSCULAR CENTRE We assessed the susceptibility of the company's financjal statements to material misstatement. including obtaining an understanding of how fraud might occur. by.. mak1ng enquiries ol management as to where they considered there was suscepts"bilrty to fraud, their knowledge ol actual, suspected and alleged fraud", and considering the intemal contrds in pla to mwale risks of fraud and non-cLJmpliance with laws and regulations. To address the risk olfraud through management bias and override of controls, wè." performed anatytical procedures lo entIfy any unusual or unexpected relationships; tested journal entries to identify unusual transactions.. assessed whether judgements and 8ssurnplions made in delermining the accounting estimates were indicative ol potential bias, and in¥estigated the rats"onaltr behind Signikant or unusual transa¢tKJns. In response to the risk of IgUlaritIeS and non-ComplnCe wilh laws and regulations. we designed procedures which included, bul were not limited to.. agreeing fin8n¢ial $18lernenl disckisures lo undertying SUPPOrting of do¢umenl8lion', reading the minutes ol meetings of those charged wlh govemance". and enquiring management a$ lo adual and polentsal litsgatson and claims. There are inherent limitations in our audrt procedures described above. The more removed that laws and regulations are from financial transactions. the less likety it is thal we would become aware of noTrcompliance. Auditing standards also limit the audit procedures required to identify norrfompli8nce with laws and regulations lo enouiry of the directors and olh&r man8gement and the inspedion of wulaiory and legal ¢orr&spond&n¢e, rf any. Material mlsstatements that arise due to Iraud can be harder to detect than those that arise from error as they may involve deliberate concealmenl or colusion. A fvrther descripbon ol our responsibilitses is available on the Financjal Reporb'ng Council's website al.. https.'Il www.Ir¢.org.uklauditor$responsibilititrs. This desuiption foms part of our auditorfs report. Other matters Thls report is made solety to the charitable company's members, as a body, In accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit woth has been undertaken so that we Mhl state to the charitatAe company's mernbers those matters we are reqUId lo slale to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility lo anyone other than the charitable company and the charitable company's members as a body. lor our audil work. for Ihis report, or forthe opinions we have formed. l( (LWJ Louisè Casty ACA Istnior Statutory Auditor} for and on behalf of 8WM 2.*02023 Chartered Accountants Statutory Audltor Suite S.1 12 Ttheb8m 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 2023 Currant fftnanelal yèar Unrestricted Restricted funds funds 2023 2023 Total Restated Total 2022 2023 Notes Donations and legacies Chaiitable activities Fundraising events Investments Other income 313.740 585,132 62.525 2,107 196,525 510.265 585,132 62.525 2,107 148 417,780 491,070 46,106 232 887 Totsl Incomg 3,652 196,525 1,160,177 956,075 Raising fund5 Chorltable activlties 145.157 784,511 145.157 976,191 116,495 845,283 191,880 Total •xp•ndltur• 929,e88 191,880 1,121.348 961,758 Nèt mov•m•nt In lund• 33,984 4,845 38,829 15,8831 R•conelllatlon of lund• Fund b818nces al 1 April 2022 1,238,647 6,305 1,244,952 1,250,835 Fund balanc•• at 31 March 2023 1,272,631 11,150 1,283.781 1,244,952 The 818lement olfinanial adivilies indudes all gains and losses recognised in the year. l income and expenditure derive from continuing aclivib"es. The movement in funds detailed above complies wrth the requirements for a statement ol changes in equity under FRS102. The statement of financial activrties also rphe3 with the requirements for an income and expenditure account under the Companies Act 2006. 10-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Prlor Ibnanclal y•ar Unrestricted Restricted funds funds 2022 2022 Total 2022 Note• Donations and legacies Chaiitable activities Fundraising events Investments Other income 343,786 491,070 46.106 232 73.994 417,780 491,070 46,1 ( 232 887 Totsl Incomg 882,081 73.994 956,075 Raising fund5 Chorltable activlties 116,495 750,121 116,495 845,263 95,142 Total •xp•ndltur• 868,816 95.142 961,7S8 Net movement In funds 15,465 121.1481 15,6831 Reconclllatlon ol funds Fund balances al 1 April 2021 1,223,IB2 27,453 1,2SO,635 Fund balanc•8 at 31 March 2022 1,238,647 6.30S 1,244,952 The statement of financlal activities indudes all gains and losses recognised in the year. l income and expenditure derive from continuing activities. The movement in fund5 delailed above complies with the requiremenis for a statement ol change5 in equity under FR8102. Thè statement of financial activ"eS also complies wth th& requirements for an Income and expenditure account under the CompaniesAct 2006. 11
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT31 MARCH 2023 2023 2022 Notès Flxed assets T8ngible assets Investments 14 15 727.538 657,272 727.547 657,281 Currgnl a$$gts Debtors Cash at bank and in hana 18 179.277 $29,824 139,954 537,853 709,101 677,807 Llabllltle8: Creditors.. amounts falling due within one year 19 1152.8671 (90.1361 Nel current assets 556.234 587,671 Total net a$s¢ts 1,283,781 1,244,952 The funds of the charfty.. Rèstricted funds 22 6,305 Unrestricted funds Unr&$tri¢led funds repre$¢nled by fixed assels Free reserves 727,547 545.084 657,281 581,366 General unrestricled funds 1.272.631 1,238,647 Total unreslricted funds 1,272.631 1,238,647 Total charty lund$ 1,283,781 1,244,952 These financial statements have been prepared in accordance 1h the provisions applicable lo companies subject lo the small wmp8nies regime. The financial statements were approved by the trustees and authorised for issue on . on its behalf by.. and are signed D Okell I Trustee Company Registration No. 2808607 12-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Not•s Cash flows from operatlng actlvltleg Net cash piovided by oper8ts'n9 adivhlies 27 84.129 138,7951 Cash flows from Investlng actlvltl•s Purch8se of tsngible fixed assets Interest recewed 194.264 2.107 232 Net ca8h Iu8ed Snvgenerated from Investing activities 192,157 232 Net decrease In cash and cash equIVanIS 18.0281 138.5831 Cash and cash equivalents al beginning of year 537,853 576,417 Ca8h and ea8h oqulval•nts at •nd of yèar 529,824 537,853 13-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Charity inforrnation The Neuromuscular Centre is a private company limrted by guarantee incorporated in England and Wales an(J a charity registered with the Charity Commission for England and Wales. The registered office is Woodford Lane West. Wn5ford. Cheshire. CW7 4EH. 1.1 Aetountlng eonvèntlon The financial statements have been prepared in accordance with the charity's Memorandum and Artic$ ol Association. the Companies Act 20C6. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102"18nd the Ch8ribe5 SORP "Accounting and Reporting by Ch8rits'es.' Slalement of Recommended Practice applicable to tharitie5 preparing Iheir accounts in awrdance with the Fin8n¢i31 Rèporting Standard applicable in the UK and Republic of Ifeland IFRS 1021. (effective 1 January 20191. The ¢harlty Is a Publi¢ Benefit Entty as t1•fined by FRS 102. The accounts are prepared in slerfing, whh is the functional currency of the chanty. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared on Ihe hi8towi¢81 ¢081 n¥ents0n. The prin¢ipal a¢¢ounting poliatts adopted are sel out below. The flnancial statements do not Incorporate the fesuhs. assets and Ilabilities ol the charity's tholly owned subsidiary, NMC Trading Limtted. Consolidated accounts have not been prepared as these would not be materially diffent from the single entity financial statements as presented. The subsidiary ceased to trade on 1 April 2012 and has rernained dorniant throughoul Ihe period. 1.2 Golng concem At the time ol approving the accounts the Trustees have a reasonable expectation that the charity has adequate resources to continue in operabonal existence for the foreseeable future. Thus, the Trustees continue lo adopt the'going concern, basis of accounling in preparing the accounts. 1.3 Charttable funds Funds held by the ¢harity are.. Unrestricted general funds- these are funds which can be used in accordance wth the charitable objects at the discretion of (he trustees, with due regard lo the reserves policy as described in the Trustees. Report. Designated fvnds- these are funds set aside by Ihe Iruslees oul of unrestricted general funds for specific future purposes. Restricted funds are funds which are to be used in accordance wth specthc restrictions imposed by donors or which have been raised by the chanty lor partular purposes. The aim and use of each restricted fund is set out in the notes to the finanaal statements. 14-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 A¢coun¢ing policies (Continuedl 1.4 Income l inwme 15 induded in the Ststement of Financial Activit5 when the charity is legalty entsued to the income and the amount can be quantified with reasonable accuracy. Income from donations and grants, including capital grants. is induded in income when these are receivable, except as follows.. Vvhen donors specrfy that don8tion8 and grants given to the charty must be used in f(rture accounts'ng p&riod$, the income 1$ deferred unbl thos& pewiod$. Vvhen donors impose con¢Jitions which have to be fulfilled before the charity becomes entrtled to use such income. the income is deferred and not induded in income until the preconditions for use have been met. Incorne is deferred only when the charty has to fu1 condrtions before becoming entrtled to it or where the donor h85 5perified ¢hat the incorne is to be expended in a future period. When donors $pècfy that donatlons and grants, Induding ¢aprtal grants. are for particular r•strfeted purpo$e$, which do not amount to preconditions regardin9 entitlement, Ihis income is induded as restrlcted funds when receivable. Voluntary income includes discretary grants for projects. goods and services where no service agreement or contra¢1 exists. Olhtrr grants, which have particular $&IV r•quirem&nts and which 8fg provided in 8¢¢ordgn¢e with a contract or service level agreement 8re induded in the Ststement of Finanaal Activities under the he8ding Charitable Activities. Interest is induded when receNable by Ihe charity. 1.6 Expendlture Expenditure rellects all amounts paid and acuu¢d during Ihe y&ar. Expendilui¥ induOe$ any VAT which cannot be fully recovered. and Is reported as part of the expendrture to which it relates. All costs are allocated befvleen the expenditure categories ol the Siatement of Finanual Activities ISOFAI on a basis designed to ect the use of the resource. Raising funds Thèse represent Costs incurred in seeking voluntary contiibulions and not indude the ¢o$ts of disseminating infomiation in support tsl the charrtable athNrties. Charitable expenditu Charitable expenditure comprises those cosls lnujd by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directty lo such activities and those Costs of an indirect nature necessary to 511PPOrt them. Support costs are allocated across the activities on the b8515 of expenditure inrrell lor e8th 01 the actiwties. Govemance cosls These represent costs assoc3ated with meeting the constitutional and statutory requirements of the charity and indude the audit fees and costs linked lo the strategic management of the charity. 15-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 A¢coun¢ing policies (Continuedl 1.6 Tanglble flxed assets Tangible fixed asset$ are initialty measured at wsl and subsequenty measured at CQ5t or valu8tion. net of depreciation and any impairment1055es. Individu81 fixed assets costing £1.0 or more are capitalised at cosl. induding any expenses of acquisition. Depreciation is provided at rates calculat8t1 to write Off the cost lè$$ estimated rèsidual valuè ol ea¢h assèt over its expected useful life. as follows.. Short leasÈhold propèrty Fixtures. fittings & equiprnenl Straight linè basi$ ovèr thè life of the leas& Straight line over 4- 5 years The galn or loss arising on the disposal of an asset is detem)ined as the difference between the sale proceeds and the carrying value ol the asset. and is recognised in the statement of financial aclivits'es. 1.7 Flx•d asg•t Inv•stm•nts Fixed asset investments are ststed at cost less provision for diminut•)n in value. 1.8 Impalrnient ol Ilxed assets At each reporting end date. th¥ ¢harty revièws the ¢arrying amount$ of it$ tangible 8$$ets lo detèmine whether there is any Indicabon that those assets have suffered an impaimenl loss. 11 any such Indration exists, the recoverable amount of the asset is esbmated in order to deterniine the extent of the impaiment loss lif any). 1.9 Cash and ea8h équlval•nts Cash and cash equiv8lenls indude cash in hand. deposits held at Ca wrth banks, other short-term liquid investments wlh ori9inal m8lurities ol three months or less. and bank overdrafts. 1.10 Flnanelal In8trum•nts The charity has elected lo appty Ihe provisions of Seclion 11 'Basic Financial Inslruments, and Section 12 'Other Finan¢i81 Instruments Issues. ol FRS 102 to 811 of its finan¢i81 instruments. Flnancial Instruments arè recognised in th6 ch8nty's balan sheet wh6n the charity becom&s patty to the contractual provisions of the instrument. Financial assets and liabilities are offset. wlh Ihe nel amounls presented in the financial staternents, when there is a legally enforceable right lo sel off the recognised amounts and Ihere is an intention to setue on a net basis or to re81ise Ihe 85set and sellle the liability simulianeousty. Basic financffal assèts Basic financial assets. which indude deblors and cash and bank balances. are initialty measured at tr8ns8Ction price including transadion cost$ and are subsequentty c8rried at arnortised Gost using the effective interest method unless the atrangetnent consb"tutes a finanung trdnsaction. where the transaction 15 measured at the present value of the luture receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amorbsed. 16-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 A¢coun¢ing policies (Continuedl Baslc flnanclal Ilabllltl•s B8sic financial li8bilities. including rJeditors and bank loans ale initialty iecognised at transaction prioe unles5 the airangetnent constitute5 a financing transaction, where the debt instrument is measured at the prEsent value ol the future payments discounted at a market rate of interest. Finanual liabilrties classified as payable wbthin one year are not amortised. Debt instruments are sub5equentty carried at amortised c4JsI. using the effective Inte$t rate method. Trade creditors are obli9alions to pay for good$ or 5ewvi¢£s that have been acquired in the oidinary coursè of operations from suppliers. Amounts payable arè cjassified as cunent liat>ilth"es if payment is due within one year or less. 11 not, they are presented as non-currenl liabilrties. Tfade credrtors are recognised Initially at tranSactTh price and subsequentty measured at amortised cost using the effective interest method. Dfrrncognition ol financifil liabilities Flnancial Iiabililies are dere¢ognised when the ¢harity'$ ¢onlrathal obligatlons explr& or are 4l$¢hgrge¢ or cancelled. 1.11 Employee benefit8 The cost ol any unu$&il hol9Y &ntffj&menl 1$ recogni$8d in th¢ riod in vthi¢h lh& employ.$ $&rvlc¥$ aro received, rf material. Termination benefits are recognised immediatety as an expense vthen the tharity is demonstrably committed lo terminate the employment of an employee or to provide terminalion beneffts. 1.12 R•iir•moni hntrfits The charity offers defined contribution penSn arrangements to an employers, portable scheme. Contributions are charged in the financial statements as inCurd. 1.13 T¥xatlon The charity beneffts Irom vafiOUS exemptions from taxation afforded by tax legislation and is not liable to corporation tax on incorne or gains falling wilhin Ihose exempbons. Recovery is rnade of tax deducted from qualfying income and frorn receipts under Gift 'd. Thè charity is also ablè to partialty recovèr Valuè Added Tax. ExndItUr& that is not recoverablè by tha ch8nty is recorded In the accounts inclusive olVAT. crttlcal accoundng estlmates and judgements In the application ol Ihe charity's accounling polie$. the truslees are required to make judgements. estimates and assumplion$ aboul the rarying amounl of assets and liabilitie5 ihat are not readity apparen¢ from other source5. The estirnates and a550ciated a55umption5 ale based on histOriG41 experienc£ and other fact(X5 that 8r6 considered to be relevant. Actual iesutts tnay differ from these ests"tnates. 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 Whe the revision affects cnly that period. or in the period of the revision and ftrture perHKls where the revision affects both current and future periods. 17-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Donations and legacies Unrestricted Restricted funds funds Totsl Unrestricted funds Re51aled 2022 Restricted funds Tot81 2023 2023 2023 2022 2022 Donations and gifts Grants re¢eiv8bl• 313,740 1,s25 510,265 308,442 35,344 73,994 382,436 35,344 313,740 196.525 510,265 343,786 73,994 417,780 Don•tlon¥ #nd glft$ Community donations Trust and corporate dongllons 157.159 157.159 129.009 129,009 156,581 196,525 353,1 179,433 73,994 253,427 313,740 1*,S25 510,26S 308,442 73,994 382,436 Grant8 rne•Svablè for eor• aetl¥ltl•8 Job Retention Scheme 35,344 35,344 35,344 35,344 Fundralslng events Unr¢itrl¢ted Unreslricled fvnds nds 2023 2022 Fundraising events 82,525 46,106 18-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable activities unTtrIct• Unrestrictod Unrestrictod lun lund$ Unrestsictgd fundg Phy8lotr*Apy Supportln9 oftwk)ym•nt Total 2023 Totsl 2022 In¢ome within charitable activities 489.1( 96.026 585,132 491,070 For th• yèar •nd•d 31 March 2022 Phy¥loth•r•py $ypportlng •mployrngnt Totsl Income within charitable actNrties 378,391 114,879 491,070 Analysis by fund Unrestricted funds 376,391 114,679 491,070 Investrnent¥ Unr•8trlet•d Unre$lri¢l¢d funds nds 2023 2022 Interest receivable 2,107 232 Other Income Unrestrlcted Unrestricted funds funds 2023 2022 Other income 148 887 Other income of £14812022.. £8871 relates to a Feed4n Tariff {FITI payment 1Ved from the charity's energy provider. 19-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Raising funds Unrestricted Unreslricled funds fijnds 2023 2022 Prornotitsn Staff costs Sharè ol support ¢osts l$¥e nol¢ 10) 57,653 84.477 3,027 38,580 74,301 3,614 145,157 116,495 -20-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable activities Physiotherapy Advocacy Supporting and care employrnent support Training Total 2023 Total 2022 Stsff costs 283,329 76.432 36.466 14.526 410,753 353,205 sha o15UPPOrt costs (see note 101 Share ol governance costs Isee note 101 86,762 323,198 114.399 28,927 553,286 483,514 3,038 3.038 3.038 3,038 12,152 8,544 373.129 402.668 153.903 46.491 976,191 845.263 Analy¥l¥ by fund Unrestricted funds Reslri¢t¥d fvnds 325.693 47,436 258.424 144,244 153.903 46.491 784,511 191,680 373,129 402,688 153.903 46,491 976,191 For Ihe ytr•r •nd•d 31 Mor¢h 2022 Phy•k•th•rnpy Ad¥o¢4ey Supportlng and ear• employment •upport Trnlnlng Total Staff eosts 216,684 76,824 45,450 14,247 353,205 Share ol support costs1$¥g nol¢ 10) Share ol governance costs (see rte 78,456 255,461 130,353 19,244 483,514 101 2.136 2.136 2,138 2,138 297,276 334,421 177,939 35,627 B45,263 Analysis by lund Unrestricted funds Restricted funds 289.986 7,290 246.569 87,852 177.939 35,627 750.121 95,142 297,276 334,421 177,939 35,627 84S,263 21
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 10 Support costs Support Govemance costs costs 2023 Support Governance costs costs 2022 Staff costs Depreciation utilities and communications Travel Printing Maintenanc8 Insurance and general expenses 242,558 23.999 242,558 23.999 232,871 19.794 232,871 19.794 30,527 23.325 82.451 43.297 30,527 23,325 82.451 43,297 19,853 17.375 85.595 50.788 19,853 17,375 85.595 50,788 110.156 110,156 60,852 60,852 Audit lee$ Accountancy Legal and prof8s$lonal 4,030 2.270 5,852 4,030 2.270 5,852 2,700 1.980 3,864 2,700 1.980 3,864 SS8.313 12.152 568,465 487,128 495,672 Analysed been Fundraising Charitable actNits'e6 3.027 553.286 3,027 565.438 3,614 483.514 3,614 492.058 12.152 556.313 12,152 568.465 487.128 495,672 Support costs are allocated on the basis of time spenvusage. Governance costs are splil equalty betsveen activrties. 11 Tru¥t¢ None of the trustees lor any persons connected with them) received any remuneration during the year12022.' £nill and no trustees were reimbursed expenses12022'. none). 12 Audltorfs remuneratlon The analysis of auditorfs remuneration 13 83 follows- 2023 2022 Fees payable to the company's audrtor for thè audrt of lh& company's annual accounts 4,030 2,700 l other non-audrt services 2,270 1,980
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 13 Employees Nurnber of employees The average monthty number of employees during the year was-. 2023 Number 2022 Number Charitable 8ctwitL'es Fundraising Adminislr8ts'on 28 27 31 Employm•nt ¢0818 2023 2022 Wages and salaries Soaal secunty costs Other pension costs 627.138 47,291 63.359 571.742 35,173 53,462 737,788 660,377 Redundancy paym&nl$ 01 £17,130 {2022.. £6951 were paia in the year. There were no employees whose annual remunerat•Jn was £60,0 or more12022.' none). 14 Tanglble Ilxed as8•t• Short Iv••*hold prorty Flxt¥rn•, ftttlng• & •4ulpm•Dt Totsl Cost At 1 April 2022 Additions 1.035.041 65,184 248.429 29,080 1.283.470 94,264 At 31 March 2023 1,11X1,225 277,509 1,377,734 Depreclatlon At 1 Apnl 2022 Depreci8tion charged in the ye8r 380,504 13.994 245,695 10.003 626,199 23.997 At 31 March 2023 394,498 255,698 650,196 Carrying amount At 31 March 2023 705.727 21.811 727.538 At 31 March 2022 654.538 2,734 657,272 All tangible assets are used in lunclrons of the tharity and are shown at wrrtten down cost. All material assets are used for direct chaiitable aGtwtties. The leasehold land and buildings ale subject to a le8se that has re¢enUy been renewed and will expire in August 2077. -23-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 15 Fixed asset investments Other Investments Ct or valuation At 1 April 2022 & 31 March 2023 Carrylng amount Al 31 March 2023 At 31 March 2022 2023 2022 Other investments comprise.. Notes Investments in SubslerieS 16 16 Sub8ldlarle• Details of the charity's subsidiary at 31 March 2023 are as follow5.. N4m• of und•rtoklng •nd ¢ountry ol Incorporatlon or resldency N•tur• ot buslno Clas• of % H•ld •hareholdlng Dlrect Indlrect NMC Trading Limited England and Donnant Wales Ordinary 100.00 Thè 8ggregatè capital and resèrve$ and thè result for the yèar of subsidiaries èxcludèd from consoldatlon was as follows". Name of undertaklng ProllUILoss) Capltal and Reserves NMC Trading Limited -24-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 17 Financial instruments 2023 2022 Canying amount of financial assets Debt instruments measured at cost Equity instruments me8sured 81 cost 676,692 662,204 676,701 662,213 Carrylng amount of flnanelal IlabllltSè3 Me83ured al cost 23,210 12.172 18 Debtor8 2023 2022 Amounts lalllng due wlthln on• year: Trade ¢Jeblors Other debtors Prepaym¥nl$ and ac¢rued income 143,631 10,673 24,973 121,113 5,404 13,437 179,277 139,954 19 Cr•dltors'. amounts f•lllng du¢ vAthln on• y••r 2023 2022 Not•• Other taxation and social security Defèrrèd incom¥ Trade cdrtOrS Amounts due to subsidiary undertakings Accruals 11,842 117,815 16,871 11,628 66,336 8,483 6,330 5.680 152.867 90,136 20 Deferred Income 2023 2022 Total deferred income at 1 April 2022 Amounts received in year Amount5 Giedited to Statement of fin8nGial athil 66,336 117,815 166,3361 40,794 864 117,815 66,336 -25-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 21 Retirement benefit schemes Defined contribution scheme¥ The charity operates a defined contribulion pension scheme lor all qualifying employees. The assets of the scheme are held separatety from those of the charity in an independently administered fvnd. The charge to the statement of financial acbvrt*s in respect of defined contributn schemes was £63.359 12022". £53,462). -26-
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NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 23 Analysis of net assetg between funds Unrtstrlcted Rèstrocted funds funds 2023 2023 Total Unrestricted Restricted funds 2022 Total 2023 2022 2022 Fund b818nc85 al 31 March 2023 are represented by Tanglble assets Investments Current assetsllliabilitiesl 727,538 727.538 657,272 657,272 545,084 s,234 581,366 6,305 587,671 1,272,631 11,150 1.283,781 1,238,647 6,305 1.244,952 24 Opera¢lng lease commllmen¢s At the reporting end date the chanty had outstanding commilments for future minimum lease payments under non-cancellable operating leases, which fall due as lollows". 2023 2022 Wlthin one year Between an¢J fiv& years 1,196 1,794 1,794 2,990 25 Related party transactlons Remuneratlon of key management personnel The remuneration of key managemenl personnel, is as lolh)ws. 2023 2022 Aggregate remuneration 71,3S7 69,930 As at 31 March 2023, there is a credrtor balance On9 lo the Whol owned subsidiary NMC Trading Limited of £912022.. £91. There were no other relaled paty transactions. No guarantees h8ve been gNen or receNed. -28-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 26 Company limited by guarantee The Neuromuscular Centre is incorporated under the Companies Act as a company limited by guardnlee. The li8bility Of the mèmbers is limited to £1. 27 Cash g•norat•d from 0ratIOnS 2023 2022 Nèt incomè lor thè yèar las pèr thè ststèmènt offinanual ath"viti"èsl 38,829 15,6831 Adjustments for.. Investment income recognised in ststemenl of finanryal actiwbes Depreciabon of tangible fixed assets 12.1071 23,999 12321 19,794 Movements in working capitsl.. Ilncreasel In debtors Increase in credrtors Increase in deferred incom8 139,3231 11.252 51,479 182,3711 4.155 25,S42 Net ca8h provlded by operatSng actlvltles 84,129 138,79SI -29-
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