Charlty Reglstratlon No. 1023606 Company Règlstratlon No. 2806607 (England and Wale$) NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE LEGALAND ADMINISTRATIVE INFORMATION Trustees M Hawes l Martin D Okell {Chair to 2 May 2024) M Roberts (not a director} W Slolhart S Monleiro W Duckworth (Chair from 2 May 2024) R Diaz J Haskey (Appointed 27 July 20231 Chief Executlve M Lanham OBE Secretary B Dale Charity number 1023606 Company number 2806607 Rcgistered offlce Woodford Lane Wesl Winsford Cheshire CW7 4EH Auditors BWM Suite 5.1 12 Tithebarn Street Liverpool L2 2DT Bankers Barclays Bank PIC 21 Dingle Walk Winsford Cheshire CW7 1AG Nationwide Building Society 5 - 11 St Georges Street Dougla- Isle of Ma IM99 1AS Sollcitors Barrow & Cook 5-7 Victoria Square Sl Helens Mersèyside WA10 1HH
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE CONTENTS Page Trustees. report Slalement of trustees, responsibilities Independenl audltorfs report statement of financial activities 10-11 Balance sheet 12 Statement of cash flows 13 Notes to the financl81 statements 14-29
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Iruslees present their annual report and financial statements for the year ended 31 March 2024. The financial slalements have been prepared in accordance with the accounling policies set out in note 1 to Ihg financial slalements and comply with the charity's memorandurn and articles of asso¢ialion {as amended 17 October 2019), the Companies Act 2006 and "Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Flnancial Reporting Standard appliGable in (he UK diid ReyuLiliL of llelat IFRS 1021 (effecllve 1 January 2019)" Objectives and activities The NMC is the Centre of Excellence for people affected by neuromuscular condilions. Charltable obJects The objects of the NMC are to promote and provide opportunities for people with a neuromuscular condilion lo live fuller lives through training, employment and physiotherapy. together with advice and support for Ihemselves and their families and carers. Mlsslon The NMC'S mission is lo work logelher with people affected by muscle diseases. creating an environment where full potential and positive wellbeing are achieved. through employment. training, support and physiotherapy. Alms and activities The NMC aims to be largely user led and to provide a range of services for people affected by muscle diseasg. Although service users are predominantly from within a 100 mile radius of Winsford, Cheshire, many allend Ihe Centre from across the UK and Europe. The range of services indudes: Physiolherapy assessments Physiolherapy treatments Hydrotherapy Active exercise programm6S Advice and support Supporting families in transition Provide personal care Support and breaks for carers Training courses in Graphic Design. Animation, Music and Phot3raphY Other Training courses Employment opportunities in Graphic Deslgn {in the Socaal Enterprise; NMC Oesign+Printl, Adminislralion and Fundraising. Provide transport for Students and Employees io enable maximum independence and opportunity. The unique combin81ion of services provided by the charity are offered direcuy lo individuals and their families across the UK. Wher8 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 physiolherapy and hydrotherapy. As a 'centre ol excellence. in the physical management of muscular dystrophy and related neuromuscular conditions. the charity offers help and advic& to other organisations worldwide. The charity has established a well-respecled graphic design business. NMC Design+Prinl, in whith Ihe variety of skills and talents of the individuals can be employed, developed and rewarded under both salaried and permitted work arrangements. The NMC provides wh8elchair-adapled transport for individuals attending the Cenlre.
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 NMC strategy for 2024-27 In early 2024 we endorsed our 6 strategic objectives for NMC. These were first develop8d in 2022 and have now been reviewed. They remain our primary goals- Objective 1 Provide impactful social and academic opportunilies for our community Objective 2 Enrich the emotional and physical wellbeing of people affected by neuromuscular conditions Oblecllve 3 Inspire. infomi, and enable our Community lo make an active contribution to society Obleclive 4 Uevelop a thorough understanding of people in our community and respond in iailored ways Objective 5 Run an effeclive and professional organisation with excellent govemance with suslainability al the core Objective 6 Increase awareness of MD and NMC and increase our influence Volunteor hglp NMC has a strong group of volunteers working in: Fundraising - mainly helpin9 al events. Physiolherapy- helping and supporting the professional Physiotherapists. Board of Trustee5 - providing scrutiny, oversight, advice, guidance, and strategic direction. Also, wè have volunteers helping with carpentry. gardening. odd-jobs and hiiilding mAinlp.n2nftè.. PubliG Bèneflt The charily Iruslees consider Ihal they have complied with their duty in section 17 of the Charities Act 201110 have due regard lo public benefit guidance published by the Charity Commission and that the benefits Ihal Ihe Gharity provides are not unreasonably restricted.
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements against our goals for 2023-24 Following the pandemic and a lol of staff changes. we will give focus to developing and consolidating the new young team members we now have. We will seek to encourage mentoring. We will seek to strengthen the youlhlexperience balance. A¢hieved- thg team now comprises a highly productivo mix of youth, erpergy, and experience. There ar8 now good mentors and excellent leadership thmughout. 2. Following the death of the pivotal lèader of NfvAC Dosign4Prinl in 2022 we wll seek lo rebuild, reslruclure. and refocus the social enterprise for a thriving future. Achieved lo a large degree. Rebuilding following such a huge loss is nol a swift pmcess. 3. Succession planning for long service senior staff is a kèy priority in the coming year. L8rgelyAchieved. A key element of this has been the sucGessfvl recruitment ol a new Chief Execulive to replace the current job holder who is retiring after 19 years in the role. In addilion, we have developed plans for shortgr lem7 and for longer lerm succession for other keyposts. 4. Explore the provision of accessible accommodation near to the NMC. No slgnificanl proLTress on this issue. 11 remains a goal in our new Strategic Plan for 2024-27. 5. Continue lo develop and exploit the opportLtnities provided lo NMC Design+Print following the investment in the Laser cutterlengraver. There has been substanlial progress in this gard. More opportunities are undoubtedly there still to be lapped. 6. Hold special events and make investments in key personnel lo help the NMC community lackle the personal post-pandemic challenges. These include Issues of housing. employment, support, physical and emotional health. Achieved Improve outdoor accessibility onsite. This includes relaying the car park and re-furbishing and extending accessible paths and boardwalks. Gar park refurbishment complele. Palh improvements still to omplele. 8. Refurbish the two old bathroomsltoilet lo provide new facilities that incorporate modern design and maximise opporlunilies for people to be as independenl as possible. The relurbished toilets to also offer a chance for people to see what might b8 helpful al home. Achieved completely. 9. Develop a new Fundraising Strategy to reflect changes in society. the marketplace for events. our changed Gapacity, and tho end of our long ruiiriing SpiiÈl uf Cliribliri<lb fuiidraising event. Lots of scoplng has been undertaken. A new stralegy is emerging birt not yet completed. Fundraising performancè Trust and corporate income £177k Community donations £158k Events income £73k Statutory income £614k Design+Prinl income £101k Donors lo NMC can be assured that we comply with the regulatory standards for fundraising. The charity adheres lo the Code of Fundraising Practice in all its fundraising aclivilies. Through this guidance. policies 8nd working practiS relating lo working wilh vulnerable supporters, handling complaints and ethical considerations are in place. NMC does not sub-contract elements of ils fundraising activities lo marketing agencies and undertakgs all its correspondence and contact with donors in-house. The charity received no fundraising complaints during the year. Complaints are dealt with in line with our complaints policy, with most serious complaints escalated to our Truslees so Ihgy can consider lessons to be learnt. NMC has safeguarding policies in place to protect vulDerdble people. Our ndraIserS (both staff and third party) are familiarised with these lo ensure the correct procedures are in place.
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Flnan¢lal revlew NMC'S financial performance has been satisfactory as we continue lo build back posl-pandemic.. The NMC has some assets in the form of the building it has on land leased from Cheshire Wesl and Chester Council bul no up to dale valuation is available. NMC holds no other substantial asset beyond its minibuses. day to day office, physlo and IT equipmenl. NMC has consistently maintained total unrestricled reserves al 3 month Tunninq costs Ihrouqhout 2023-24. ReseNes policy NMC recognises the need lo build and maintain adequate reserves, lo ensure that the charity has a financSal buffer proportionate to ils normal scale of operations. In doing so. this will reduce tho financial risk lo 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 £500.000 2. A minimum amount of net current assets of £260,(KJO of which cash and marketable inveslments musl not be less than £180.000 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 proportKinale 'buffer" to retain against the risk of unseen problems. The current reserves level is £1,367,002 with free reserves belng £602,748. reslricled reserves being £11,837 and designated reseNes being £40,000. Rlsk management A register of risks is maintained and reviewed regularty by the Truslees. The following risks have been identified as the most significant for the charity.. Financial suslainabilily: recognising that maintaining income levels is essential to the charity's financial sustsinabilily. The charity continues lo monilor the risks associated with ils diverse voluntary income streams Reputation and brand., the charity monitors the risks associaled wilh all aspects of reputation and has put in place strategies lo reach and engage benefi¢i8rles and other organisalions. Recruilmenl and relenlion of staff= the charity aims lo be an organisalion where staff are supported and developed and where employees have a sense of fulfilment. During Ihe year all managers participated in a bespoke management developmgnt programme lo extend their skills. Plans for 2024-25 Upgrade and extend the outside paths to enable people to explore the meadow and garden5 in all seasons safely. Develop Ihe new Employment and Careers semce so it achleve5 all that we have planned for il in terms of placing people in worklwork exp6rience, preparing for work. and helping people stay in work by adapting lo changes in condition. Prepare NMC for a Britain ID Bloom application and maximise involvemenl of our community as well as local volunteers in developing a flourishing and attractive garden. Develop a new fundraising slralegy to reflect changing times and the end of our long running Spirit of Christmas event. Develop an accommodation offer for those Iravelling long distances lo NMC. The accommodation could also offer accessible holiday oplions and a place lo try out independent living. The arrival. induction and successful handover lo the new Chief Executive will be an important element of the plans for the eharily in the year ahead. We plan to upgrade and modernise our healing system and install additional solar power generation lo reduce our energy consumption and increase the sustainability of our provislon.
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management The Neuromuscular Centre INMC) 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 8 wholly owned dormant subsidiary, NMC Trading Limited. The Iruslees, who are also the directors for the purpose of company law. and who Seed during Ihe year were: M Hawes AJeffs l Martin D Okell (Chair lo 2 May 2024) M Roberts (not a director) W.qtnlhart S Monleiro W Duckworlh {Chair from 2 May 2024) R Diaz J Haskey (Resigned 13 April 2023) (Appointed 27 July 20231 Appointrngnt of trustees The charity appointed lis Board of I wslees from 1 Apnl 2012. As vacancies arise new Trustees are appointed. Trustee Inductlon and training Newly appointed Iruslees receive comprehensive induction including training on their duties and responsibilities under company and charity law and also an induction into the aclivilies, operational plans and financial performance of the charity. Organisalion The Board of Trusl88s is ultimately responsible for th8 management of the Neuromuscular Centre. The Board will meet quartedy. A Chief Executive, with delegated authority, is appointed by and accountable lo the Iruslees 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 lo the UK cost of living indices. The Trustee Board approve the overall remuneration setuemenl as part of the annual budget setting. Audltor In accordance with the company's articles, a resolution proposing that BWM be reappoinled as auditor of Ihe company will be pul at a General Meeting. Dlsclosure of Informatlon to auditor Each of the Iruslees 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 lo identify SLtch relevant information and to establish that the auditor is aware of such information. Small company provlslons This report has been prepared in ac£ordance with the spe(ial provisions relating lo small companies within Part 15 of the Companies Acl 2006. On behalf of the board of trustees W Duckworth (Chalr) Trustee
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 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 tnjstees to prepare accounts for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resource5, including the Income and expendllure. of the charitable company for that year. In preparing these accounts. the Irusl895 are required to.. - select suitable accounting policies and then appSy them (x)nsislentW: - observe the methods and principles In the Charities SORP; make judgErriewiis ar)d estimates that are reasonable and prudent: slate whether applicable UK Accounting Standards have been followed. subject io any material departures disclosed and explained in the accounts.. and prepare the accounts on the going concem basis unless it is inappropriaie lo presume Ihat the challly will continue in operation. The trustees are responsible for keeping adequat8 ac(x)unting records that disclose Wblh reasonable accuraGy at any lime the financial position of the charity and enable them lo ensure Ihal the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEUROMUSCULAR CENTRE Opinion We have audited the financial slalemenls of Neuromuscular Centre (the 'charity') for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet. the statement of cash flows and notes to the financial slalements, including significant accounting policies. The financial reporting frameworf( that has been applied in their preparation is applicable law and United Kingdom Accounling Standards, including Financial Reporting Standard 102 The Financial Reporting Standard 8pplicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial statements.. give a true and fair view of Ihe state of the charitable company's affairs as al 31 March 2024 and of Ils incoming resources and applicalion of reSoUrs. including its income and expenditure. for Ihe year then have been properly prepared in accordance with United Kingdom Generally Accepted ACntIng Practice: and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance wtth International Standards on Auditing (UK) IISAS (UKI) and applicable law. Our responsibilities under those standards are further described in the Audi105 responsibilities for the audit of the financial slalemenls section of our report. We are independent of the charity in accordance with the ethical requifemenls Ihal are relevanl lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical standard, and we have fulfilled our olher ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements. we have concluded that the tfuslees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the WOTk we have perfomied. we have nol identified any material uncertalnligs relating to events or conditions Ihat, individually or collectively, may cast significant doubl on the charity's ability to continue as a going concern for a period of al least iwelve months from when the financial slalements are aulhorised for issue. Our responsibilitie$ and the responsibilities of tho trustees with respect to going concern are described in the relevant sections of this report. other Informatlon The other information comprises the information included in the annual report other than the financial slalemenls and our audilorfs report thereon. The trustees are responsible for the other information contained within the annual repoil. Our opinion on the financial slalements daes not cover the other information and, except lo the extent otherwise explicitly slated in our report. we do not express any fomi of assurance conclusion Ihereon. Our responsibility is to read the other information and. in doing so. consider whether the other infomiation is materially inconsistent with the financial slalemenls or our knowledge obtained in the course of the audit. or otherwise appears to be materially misslaled. If we identify such material inconsistencies or apparent material misstatements, we are required lo detemiine whether Ihis gives rise lo a material misslatemenl 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 r8POrt that fact. We have nothing to report in this regard. Oplnlons on othar matters prescrfbed by tho Companles Att 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the trustees. report for the financial year for which the financial slalemenls are prepared, which includes the directors. report prepared for the purposes of company law, is Consistent with the rinancial slalements., and the directors, report included within the trustees, report has been prepared in accordance with applicabl8 legal requirements.
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF NEUROMUSCULAR CENTRE Mattews on which we are required to report by exceptlon In the light of the knowledge and understanding of Ihe charity and ils environment obtained in the course of Ihe audit, we have not identified material misslatemenls in the directors. report included within the truslees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us lo report to you if, in our opinion- adequate accounting record5 havv iiut been kept, or retums adequatc for our audit h8ve not been receivftd from branches not visited by us,. or the financial statements are not in agreement with the accounting records and retums-, or certain disclosures of trustees, remuneralion specified by law are not made; or we have not received all the infomialion and explanations we require for our audit., or the trustees were not entitled to prepare the financial slalements in accordance with the small companies regime and lake advantaqe of the small companies, exemptions in preparing the trustees. report and from the requirement to prepare a strategic report. Responsibllities of trustees As explained more fully in the stalemenl of trustees. responsibilities, the trustees, who are also the dlreclors of the charity for the purpose of company law, are responsible for Ihe preparalion of the financial slalemenls and for being satisfied Ihat Ihey give a true and fair view. and for such inlemal control as the trustees determine is necessary lo enablo Ihe proparalion of finAnriAI statements that are free from material misslalemenl. whether due lo fraud or error. In preparing the financial slatemenls, Ihe trustees a responsible for assessing the charity s ability to continue as a going concern. disclosing, as applicable. mallers 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 lo do so. Audltor's responsiblllties for the audlt of the flnancial statements -onable asgurance about whether Ihp. financial statements as a whole are free from Our objectives are lo obtain r¢a- material misstatement. whether due to fraud or eOr, and to issue an auditorfs 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 IUKI will always delecl a material misstatement when il exists. Misslalements can arise from fraud or error and are considered material if. individually or in the aggregale. Ihey could reasonably be expected to influence lh8 economic decisions of users taken on the basis of these financial slalemenls. The extent to which our procedures are capable of detecting irregularilies. including fraud, is detailed b810w. Our approach to identifying and assesslng Ihe risks of material misststement in respect of irregularities. including fraud and non-compliance with laws and regulations, was as follows: the engagemont partner ensured that the engagement loam collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations-, wo identified th8 laws and regulations Hpplic2ble to th8 company throuoh discussions with directors and other management., we focused on specific laws and regulations which we considered may have 8 direct material effect on the financial statements or the operations of the company. including the Companies Act 2006, taxalion legislation and data protection. anti-bribery. employment and health and safety legislation,. we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence-, and identified laws and regulations were communicated within the audit team regularly and the team remalned alert lo instances of non-compliance Ihroughi)ut the audiL
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 financbal slalements to material misstatement, includlng oblaining an understanding of how fraud might OCCUT. by- making enquiries of managemerTrt as to where they considered there was susceptibility to fraud, their knowledge of aclual. suspected and alleged fraud- and considering the inlernal controls in place to mitigate risks of fraud and non<ompliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we.. perfomied analylical procedures lo identify any unusual or unexpected relationships: tested joumal entries to identify unusual transactions. assessed whether judgements and assumptions made in determining the accounting estimales were indicative of potential bias; and invec+tigatcd tho rationale behind significant or uriu¥ual Iransactlons. In response to the risk of IrgUIarrtles and non<ompliance wilh laws and regulations, we designed procedures which included, but were not limited lo- agreeing financial statement disclosures lo underlying supporting of documentation,. reading the minutes of meetings of those charged with governanc8- and enquiring managemgnl as to aduaS and polontial litigation and Glaims. There are inherent limi181ions in our audit procedureg doscribed above. Thg MO removed that laws and regulations are from financial Iransaclions, the less likely il is that we would become aware of non-compliance. Auditing standards also limit Ihe audil procedures required lo identify non-compliance with laws and regulations lo enquiry of the directors and other management and the inspection of regulatory and legal correspondence. if any. Material misslalemenls that xrisp. diie to fraud can bè hard8r to dglect than those that arise from error a5 Ihgy Ill¢*y Involve deliberale concealm6nt or collusion. A further description of our responsibilities is available (m the Financial Reporting Council's website at.. hllps'.11 www.frc.org.uklauditorsresponsibililies. This desuiplion fomis part of our audilovs report. Other matters This report is made solely lo the charitable companrfs members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audil work has been undertaken so that we might slate lo the charilable company's members those mallers we are required to state lo them in an audilorfs report and for no oth8r purpose. To the fullesl exlenl pemiitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable (xjmpany's members as a bcmjy. for our audit work, for this report, or for the opinions we have formed. LLX((Q (LILll Loulse Casey ACA (Senior Statutory Audltor) for and on behalf of BWM .311.0812024 Chartered Accountants Statutory Auditor Suite 5.1 12 Tilhebam 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 2024 Current financlal year Unrestrlcted Restrltted funds funds 2024 2024 Totsl Total 2024 2023 Notes Income from. Donations and legacies Charitable activities Fundraising events Investments Other income 358.420 715,156 72.697 8.426 315 35,617 394,037 715,156 72.697 8,426 315 510.265 585,132 62.525 2,107 148 Total Income 1.155,014 35.617 1.190,631 1.160,177 Ex endlture on: Raising funds Charitable activities 155,671 916.809 155,671 951.739 145,157 976,191 34,930 Total expendlturg 1.072.480 34,930 1.107,410 1,121.348 Net movement in funds 82.534 687 83.221 38,829 RÈconclllatlon of funds Fund balances al 1 April 2023 1,272,631 11,150 1,283,781 1,244,952 Fund balances at 31 March 2024 1.355,165 11.837 1.367,002 1,283,781 The statement of financial adivities includes all gains and losses recognised in the year. All income and expendilure derive from continuing activities. The movement in funds detailed above complies wilh the requirements for a statement of changes in equity under FRS102. Tho staloment of financial activities also complies with the requirements for an income and expenditure account under the Companies AGI 2006. 10-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prlor financial year Unrestricted Restrlctod funds funds 2023 2023 Total 2023 Notes Income from.. Donations and legacies Charitable activities Fundraising events Investments Other income 313,740 585,132 62,525 2,107 148 196.525 510,265 585,132 62.525 2.107 148 Total Income 963.652 196,525 1,160,177 enditure on: Raising funds Charitable aclivilies 145.157 784.511 145.157 976,191 191,680 Total expenditure 929.668 191,680 1,121.348 Net movement in funds 33.984 4,845 38.829 Reconclliation of funds Fund balances al 1 April 2023 1.238,647 6.306 1,244,952 Fund balances at 31 March 2023 1,272.631 11,150 1,283.781 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 cornplies with the requirements for a statement of changes in equlty under FRS102. The slalement of financial activities also complles with the requirements for an in¢ome and expenditure account under the Companie5 Act 2006. 11
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 14 15 712,408 727,538 712,417 727,547 Current assets Debtors Cash al bank and In hand 18 149,349 587.222 179,277 529.824 736.571 709.101 Llabilitles: Credlto¥s: amounls falling due within one year 19 (81.986) {152.867) 654,585 556,234 Ncl current aSSOts Total net assets 1.367.002 1,283,781 The funds of th8 charlty: Restricted funds 22 11,837 11,150 Unrestricted funds Designated funds 23 UnreslriGted funds represenled by fixed assets Free reserves 40.000 712,417 602.748 727,547 545,084 General unrestricted funds 1,355,165 1.272,631 Total unrestricted funds 1,355.165 1,272.631 Total charity funds 1,367,002 1,283.781 These financial statements have been prepared in accordance with the provisions applicable to companies subjecl to the small companies regime. The financial slalements were approved by the trustees and authorised for issue on ......-... on its behalf by.. and are signed W Duckworth (Chalr> Trustee Company Reglstration No. 2806607 12-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities N9t cash provided by operating activities 29 57.355 84,129 Ca$h flows from investing activitles Purchase of tangible fixed assets Interest received {8,380) 8,426 {94,2641 2,107 Net cash generated froml{used In) investing activities 46 192,1571 Net increasel(decTease) in cash and cash equlvalents 57.401 (8,028) Cash and cash equivalents at beglnning of year 529,824 537,853 Cash and cash gqulvalents at end of year 587.222 S29,824 13-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounting policies Charlty Information The Neuromuscular Cenlre is a private company limited by guarar)tee incorporated in England and Wales and a charity regisleied with the Charity Commission for England and Wales. The registered office is Woodford Lane Wesl, Winsford, Cheshire. CW7 4EH. 1.1 A¢¢ounting eonventlon The financial slalements have been prepared in accordance with the charity's Memrandum and Articles of Association, the Companies Act 2006. FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102,1 and the Charities SORP "Accounting and Reporting by Charities.. Stalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (8ffective 1 January 2019}. The charity is a Public Benefit Entity as defined by PHS 102. The accounts are prep8red In sterling, vthich is Ihe funcllonal currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared on the hlstorical cost convention. The principal accounting policies adopted ar9 set out hp.l(Jw. The financial statemenls do not incorporate the results, assets and liabilities of the charivs wholly owned subsidiary, NMC Trading Limited. Consolidated accounts have not been prepared as these would not be materially different from the single entity financial slatemenls ag presonted. The subsidiary ceased lo trade on 1 April 2012 and has remained domianl throughout the p8ri0d. 1.2 Golng COnGErii At the lime of approving the accounts the Trustees have a reasonable expeclation that the chaiity 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 Charltable funds Funds held by the charity a. 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 lo the reserves policy as described in the Trustees, Report. Designated funds - Ihese are funds set aside by the trustees out of unrestricted gener21 funds for specific future purposes. Reslficled funds are funds which ¢iie to be used in aGcordanGe with peCIfiC restrictions imposed by donnr8 or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is sel out in the notes to the financial statements. 14-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Aecountlng policles IContlnued} 1.4 Income All income Is included in the Slatemenl of Financial Activities when the charity v6 legally entitled lo the In¢ome and the amount can be quantified with reason8ble accuracy. Income froin duri<ilions 8n(I granis. including capital grants, is included in income when these are receivable, except as follows.. When donors specify that donations and grants given to the charity musl be used in future accounting periods, the income is deferred until those periods. When donors impose conditions which have lo be fulfilled before the charity becomes entitled lo use such incoma. the incomc deferred and not included iri iiiwtne until the preconditsons lor use have been mel. Legacies are recognised on receipl or otherwise rf the charity has been notified of an impending dislribulion, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as 8 conlingenl a5sel. Income is deferred only when the charity h85 to fulfil conditions before becomlng enlilled lo it or where the donor has specified that the inrA)mA 59 to bo eXndd in a future pcriod. When donors specify that donations and grants, induding capital grants, are for particular Testricled purposes. which do not amount to preconditions regarding entleMent. this income is induded as restricted funds when receivable. VolLrnlary income includes discretionary grants for projects, and servi$ where no service agreement or contract exists. Other grants. which have particular service requirements and which are provrded in accordance with a eonlracl or se¥vice level agreement are included in the Statement of Financial Activities under the heading Charitable Activities. Interest is induded when receivable by the charity. 1.5 Expendlture 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 il relates. All costs are allocated between the expenditure categories of the Statement of Finan¢ial Activities (SOFA) on a basis designed to reflect the use of the resource. Raising funds 'rhese represent costs incurred in seeking voluntary contributions and do not includ8 the costs of di8seminaling informalion in support of the charitable aclivities. Charitable expendilure Charitable expenditure comprises those costs incuNed by the charity in the delivery of Ils aclivilies and services for ils beneficiaries.11 includes both costs that can be allocated directly to such 8clivilies and those costs of an indirect nature necessary lo support Ihem. Support cosis are allocated across the activities on the basis of expenditure incurred for each of the activities. Govemance costs These represelll costs associated with meeting the conslilutional and stalulory requirements of the charity and include 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 2024 A¢¢ounting poli¢les Icontlnued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequenuy measured at cost or valuation. net of depreciation and any impairment losses. Indlvldual fixed assets costing £1.000 or more are capitalised ai cost, indudlng any expeiises of aGquisilion. Depreciation is provided al rates calculated to write off the cost less estimated residual value of each asset over Its expected useful life, as follows: Short leasehold property Fixtures. fittings & eqiiipm8nt Straighl line basis over the life of the lease straiqht line over 4 - 5 years The gain or loss arising on the disposal of an asset is detemined as the difference belween the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial aclivilies. 1.7 Flxed asset Investrnents Fixed asset investments are slated at cost less provision ft)r diminution in value. 1.8 Impairment of ftxed assets Al each reporting end date. the Gharity reviews the carying amounts of its tangible assets lo detemiin8 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 exlenl of th8 impairment loss lif any). 1.9 Cash and cash equivalents Cash and cash equivalents indude cash in hand. deposits held at call with banks, other shorl-temi liquid investments with original malurilies of three months or less. and bank overdrafls. 1.10 Flnancial Instruments The charity has elected to apply the provisions of Section 11 'Basic Financlal Instruments, and Section 12 'Olher Financial Instruments Issues. of FRS 102 to all of its fin8ncial instruments. Financial instruments are recognised in the charitls balance sheet when Ihe charity becomes party to the contractual provisions of the instrument. Financial asse15 and liabilities are offset. wilh the net amounts presented in the financial statements. when there is a legally enforceable right to set off the re¢ogni5ed amounts and there is an intention lo seltle on a n61 bo?is or lo realise tha asset and setllè the liabilily 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 conslilules a financing transa¢lion, where the transaction is measured al the present value of the future receipts discounted at a market rale of interest. Financial assets classifie(J as receivable within one year are not amortised. 16-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollclès Icontlnued) Basic financial liabilitie$ Basic financial liabilities, including creditors and bank loans are initially recognised al transaction pri unless the arrangement constitutes a financing Iransaclion. where the debt instrument is measured al the present value of the future payments discounted at a market rale of interest. Financial liabilities classified as payabl within one year ate nol diiivilised. Debt instruments are subsequendy carried at amortised cost, using the effective interest rale m9thod. Trade credilofs are obligations to pay for goods or services that have been auIred in the i)rdinary course of operalions from suppliers. Amounts payable are classified as current liabilities if payrnenl is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors afe recognised initially al transaction priee and gubsequcnlly measured at amortis¥iJ wst uslng ihe effeciive interest method. Derecognition of finan¢lal Ilabilities Financial liabilities are derecognised when the charitys contractual obligations expire or are discharged or cancelled. 1.11 Employee beneflts The cost of any unused holiday entillemenl is cOgnised in the periixl in which the employee's service5 are received. il material. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employm8nt of an employee or lo provide temiination benefits. 1.12 Retirement benefits The charity offers defined contribution pension arrangements to an employers. portable scheme. Contributions are charged in the financial slalemenls as incurred. 1.13 Taxation The charity benefits from various exèmptions from laxalion afforded by lax legislation and is not liable lo corporation lax 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. Expenditu that is not recoverable by the charity is recorded in the accounts inclusive of VAT. Crltlcal accounting estimates and Judgements In the applicaliuri of Ihe chartiy's accounting policies. the Iruslees 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 eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslimales 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. There are no Grilical a¢counting estimates or judgments included in these a¢counts. 17-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donatlons and legacies Unrestrl¢ted Restrlcted funds funds Total Unreslricled funds R8sl2ted 2023 Restricted funds Total 2024 2024 2024 2023 2023 Donations and gifts Legacies receivable 299.859 58,561 35,617 335,476 58.561 313,740 196,525 510,265 358.420 35,617 394.037 313,740 196.525 510,265 Donations and glfts Community donations Trust and corporate donations 157,979 157.979 157.159 157.159 141.880 35.617 177,497 156.581 196,525 353.106 299.859 35,617 335.476 313,740 196.525 510,265 Fundraislng events Unrestrlcted Unrestrlcted funds fund8 2024 2023 Fundraising events 72.697 62.525 18-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities Vnrestrlcted Unr8s¢rlcted Unrnstrlcted funds funds funds Unr8Strlctèd funds Physlotherapy Supportlng employm•nt Total T•tal 2023 2024 Income within charitable aclrvities 613.533 101,623 715.156 585,132 For the year ended 31 March 2023 PhysiothÈrapy Supportln9 employment Ttstal Income within charilable activities 489,106 96,026 585,132 Analysis by fund Unreslricled funds 489,106 96.026 585.132 Investmgnts Unrèstrlcted Unrestrlcted funds funds 2024 2023 Interest receivable 8.426 2,107 Other Incomg Unrestrleted Unrestricted funds funds 2024 2023 Olher income 315 148 Other income relal8S to a Feed-in Tariff {FIT) payment received from the charitys energy provider. 19-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Raising funds Unrg$trlcted Unrestricted funds funds 2024 2023 Costs of generating donations and legacies and events Promotion Staff costs Share of support costs (see note 10) 59.543 86,244 9.884 57.653 84,477 3,027 155.671 145.157 -20-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities Physlotherapy Advocacy Supportlng and care employment support Training Total 2024 Total 2023 Staff costs 195,690 80,392 65.374 15.161 356,617 410.753 Share of support costs (see note 10) Share of qovernance costs (see note 10) 55.185 371.660 111.622 42,167 580,634 553,286 3.622 3,622 3,622 3.622 14.488 12,152 254.497 455.674 180,618 60,950 951,739 976,191 Analysls by fund Unreslricled funds Ru51wicled funos 254.497 420,744 34.930 180,618 60,950 916,809 34,930 254,497 455,674 180.618 60,950 951,739 For the year ended 31 March 2023 Physlotherapy Advocacy Supportlng and care employment support Training Total staff costs 283.329 76,432 36,466 14,526 410,753 Share of support coslslsee note 101 Share of governance costs (see note 86.762 323.198 114,399 28,927 553.286 10) 3.038 3.038 3,038 3,038 12.152 373.129 402.668 153,903 4G,491 976.191 Analysis by fund Unreslricled lunds Restricted funds 325,693 47,436 258.424 144.244 153.903 46,491 784,511 191,680 373.129 402,668 153,903 46.491 976,191 21
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Support eosts Support Governanco costs costs 2024 Support Governan¢e costs Gosts 2023 Staff costs Depreciation Ulilities and communications Travel Printing Maintenance In5uranGe (Irid geiieral expenses 288,507 23,513 288.507 23,513 242,558 2J,999 242,558 23,999 23,652 23.900 82.652 47,742 23,652 23.900 82,652 47,742 30,527 23,325 82.451 43,297 30.527 23,325 82,451 43,297 100,552 100.552 110,156 110.156 Audit fees Accountancy Legal and professional 4,250 4,220 6.018 4,250 4.220 6.018 4,030 2,270 5,852 4,030 2,270 5,852 590.518 14.488 605.006 556,313 12.152 568,465 Analysed between Fundraising Charitable activities 9.884 580.634 9.884 595.122 3.027 553,286 3.027 565,438 14,488 12,152 bYO.518 14,488 605.006 556,313 12.162 568,465 Support costs a allocaled on the basis of time spenvusago. Governance costs are split equally behveen activilies. 11 Trustees None of the trustees (or any persons connected with them) received any remuneratK)n during the year {2023'. £nil} and no trustees were reimbursed expenses12023: none). 12 Auditor's remuneration The analysis of audilols remuneration is as lollows- 2024 2023 Fees payable to the companls auditor for the audit of Ihe companys annual ac¢ounts 4.250 4,030 All other non-audit services 4,220 2,270 -22-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 13 Employees Number of employees The average monthly number of employees during the year was.. 2024 Numbcr 2023 Numb¢r Charitable activities Fundraising Administration 26 28 30 32 Employment costs 2024 2023 Wages and salaries Social socurily costs Other pension Gosls 636,781 Jil.185 56.402 627,138 47.291 63,359 731,368 737,788 Redundancy payments of £nil12023'. £17,130) were paid in the year. There were no employees whose annual remuneralion was £60.OW (Y more (2023.. none). 14 Tanglble fixed assets Short leasehold property Flxturns. ffttlngs & equlpmont Total Cost Al 1 April 2023 Additions 1,100.225 277,509 8.380 1,377,734 8,380 Al 31 March 2024 1,100.225 285,889 1.386,114 Depreciation Al 1 April 2023 Depreciation charged in the year 394,498 14.145 255.698 9.365 650.196 23,510 Al 31 March 2024 408,643 265,063 673,706 Carrying amount Al 31 March 2024 691,582 20.826 712,408 Al 31 March 2023 705,727 21.811 727,538 All langlble assets are used in functions of the charity and are shown al wrillen down cost. All material assets are used for direct tharilable aclivilies. The leasehold land and buildings are subject to a lease that has recently been renewed and wll expire in August 2077. -23-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 1 S Flxed asset investments other investment$ Cost or valuatlon Al 1 April 2023 & 31 March 2024 Carrying amount At 31 March 2024 Al 31 March 2023 2024 2023 Other investments comprise.. Notes Investments in subsidiaries 16 16 Subsldlarles Details of the Charity's subsidiary at 31 March 2024 are as follows- Name of undertaklng and ¢ountry of Incorporatlon or residgncy Nature of buslness Class of °A Held shareholdlng Dlrect Indlrect NMC Trading Limited England and Domiant Wales Ordinary 100.00 The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows= Namo of undortaklng Profitl(Loss) 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 2024 17 Financial Instruments 2024 2023 Carrying amount of financial assets Debt instruments measured at cost Equity instruments measured al cost 708,131 676,692 708,140 676,701 Carrying amount of financial Ilabilities MeasL*red al cost 13.315 23,210 10 Debtors 2024 Amounts falling due within one year: 2023 Trade debtors Other debtors Propayments and a¢crued incom8 80.909 45,693 22.747 143,631 10.673 24.973 149.349 179,277 19 Creditors: amounts falling due withln one year 2024 2023 Notes Other taxation and social security Deferred income Trade creditors Amounts due to subsidiary undertakings Accruals 11.208 57.463 6,006 11,842 117,815 16,871 20 7,300 6,330 81,986 152.867 -2S-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Deferred in¢ome 2024 2023 other deferred income 57.463 117,815 57.463 117,815 Deferred Income is included in the financial statement5 as follows: 2024 2023 Total deferred income 8t 1 April 2023 Amounts received in y8ar Amounls credited lo slatement of financial aclbvities 117,815 57.463 {117,815) 66,336 117,815 {66.336) 57,463 117,815 21 Retlrement bèneflt schemes Deflned contributlon schernes The charity operates a defined conlribulion pension scheme for 211 qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered lund. The charge lo the statement of financial activities In respect of defined ContribulK schemes was £56,402 (2023.. £63,359). -26-
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NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Designatgd funds The income funds of the charity include the followng designated funds which have been sel aslde out of unrestricted funds by the trustees for specific purposes= Balance ai 1 Aprll 2022 Transfer5 Bala11 at 1 April 2023 Tran¥fèr Balan¢0 at 31 March 2024 Car park works 40.000 40,000 40.000 40.000 £40.000 has been designated in the year to fund the costs of resurfacing the Centre's car park whlch will be done in 2024125. 24 Capital commltments 2024 2023 Al 31 March 2024 the charity had capital commltments as follows.. Contracted for but not provided in the financial Statements: Acquisition of property, plant and equipment 40,000 The above capllal commitment relates to work carried out at the Centre car park. This amount has been set aside al the year end as a designated fund. see note 23. 25 Analysls of net assets between funds Unrestricted Restricted funds funds 2024 2024 Totsl unStrICted Reslricled funds 2023 Total 2024 2023 2023 Fund balances at 31 March 2024 are represented by.. Tangible ass815 Investments Current assetsllliabililies} 712.408 712.408 727.538 727,538 642.748 11,837 654,585 545,084 11,150 556,234 1.355,165 11,837 1.367,002 1,272,631 11.150 1,283.781 -28-
NEUROMUSCULAR CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Operating lease commltrngnts Al the reporting end dale the charily had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: 2024 2023 Wilhin one year Between Iwo and five years 598 1.196 598 598 1,794 27 Related party transactions Remuneratlon of key management personnel The remuneration of key Management personn91, is as follows. 2024 2023 Aggregate remuneralion 61,969 71.357 As at 31 March 2023, there is a creditor balance owing to the wholly owned subsidiary NMC Trading Limited of£9 {2023.. £91. There were no other related party transactions. No guarantees have been given or received. 28 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. 29 Cash generated from operations 2024 2023 Nel income for the year {as per the statement of financial activities) Adjustments for: Investment income recognised in statement of finanual aclbvities Depreci8llon of tangible fixed assets 83,221 38,829 (8,426} 23,513 12,1071 23,999 Movements in working capital.. D&creasel{increase) in debtors {Decreasellincrease in creditors (Decroaseyincrease in deferred income 29,928 110.529) {60,352) (39,323) 11,252 51,479 Net cash provided by operaling activitles 57,355 84.129 -29-