- MS-UK
Supporting your MS journey
Multiple Sclerosis-UK Limited
(A company limited by guarantee)
Trustees, report and
financial statements
For the year ended 31 December 2025
Registered number: 02842023
Charity number: 1033731

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
IIMS.UK
Supporting your MS journey
Contents
Reference and administrative details of the charity,
its Trustees and advisers
Trustees, report
2-22
Independent audltor's report on the flnanclal statements
23-27
Statement of f inancial activities
28
Balance sheet
29
Statement of cash flows
30
Notes to the financial statements
31-50

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Reference and Administrative Detalls of the Charity, its Trustses and Advisers
For the Year Ended 31 December 2025
Trustees
Matthew Swon, Chair
Michael Herington
Laura Shukla
Charles Stebbings
Rebecca Armstrong
Laura Marsden
Suzanne Rafla
Jack Darnes (appointed
21 August 2025)
Company reglstered
number
02842023
Charity registered
number
1033731
Registered office
D3 Lnowledge Gateway
Nesfield Road
Colchester
Essex
C04 3ZL
Chief exe¢utlve officer
Amy Woolf
Independent examiner
Griffin Chapman
Chartered Accountants
4 & 5 The Cedars. Apex 12
Old Ipswich Road
Colchester
Essex
C07 7QR

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Trustees, Report
For the Year Ended 31 December 2025
Trustees, fepoft
The board of trustees, who ore also directors for the purposes of the Companies Act,
present their annual report and financial statements of Multiple Sclerosis-UL Limited
for the year ended 31 December 2025. The trustees have adopted the provisions of
the Statement of Recommended Practice (SORP) "Accounting and Reporting by
Chorities" and have followed UK generolly accepted accounting principles in
preparing the annual report ond financial statements. The trustees, report is also o
directors, report as required by s417 of the Companies Act 2006.
Legal and admlnistfative information
The information given on page one forms part of this report. As noted below, the charity
also operates under the name MS-UK.
The trustees during the year under review were as follows
Rebecca Armstrong
Jack Dornes (appointed 21 August 2025)
Michael Herington
Laura Marsden
Suzanne Rafla
Lauro Shukla
Chorles Stebbings
Matthew Swan (Chair)
Retirement of trustees
The following trustees are to retire in accordance with the Articles of
Association ond, being eligible, offered themselves for re-appointment
Charles Stebbings
Loura Marsden
Senlor fflana9ement pefsonnel
The senior management personnel throughout the year were the following
Chief Executive. Amy Woolf
Morketing ond Communications Manager. Sarah-Jone Elliott
Fundraising Manager, Jill Purcell
General Manoger, Soroh Wright

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Trustees. Report (continued)
For the Year Ended 31 December 2025
Structure, 9ovefnance, and mana9ement
Multiple Sclerosis-UK Limited is o charity registered with the Charity Commission, charity
number 1033731, and a limited company, registered at Companies House. company
number 02842023, trading as MS-UK.
The board of trustees is responsible for the strategic direction of MS-UK. 2025 was the
second year of our current three-year strategy, which can be found on our website at
www.ms-uk.org/aboutus.
Our board now consists of eight members, and each are committed to ensuring that the
charities, governance arrangements are effective. The boord meet quarterly to fulfil its
duties and hold an odditional strategy day for the board and monagement team each year.
The board of trustees continue to ensure both the good governance and proper
administration of MS-UL in keeping with its Articles of Association. Day-to-day
responsibility for the running of the organisation is delegated to the Chief Executive,
Amy Woolf, and her team.
All policies and procedures are reviewed in keeping with our review schedule, and new
policies and procedures are adopted os required.
At the time of our AGM, the board reviewed the chariLies' governing document and was
satisfied thot it continued to be fit for purpose.
Trustees maintain overall supervision of both the financial and operational
performance of the charity and receive accurate and timely updates from the Chief
Executive and her team.
The charity's investment policy is to balance maximising the return on its reserves with
ensuring they are both readily accessible and invested in low-risk instruments.
The current policy of the charity is to invest in cash in deposit and savings accour)t5
as opposed to higher risk instruments which may increase the risk on these funds, or
significantly reduce liquidity. This enables us to respond to the possibility of needing more
of the reserves in the short term to deol with income and expenditure risks. Any funds not
needed immediately are ploced on deposit, subject to limits agreed with the Board.
There ore no specific restrictions on investment powers contained within the charity's
governing document.

Multiple Sclerosis-UK Limited
(A company limlted by guarantee)
- MS-UK
Supporting your Msjourney
Trustees. Report (continued)
For the Year Ended 31 December 2025
The remuneration of all staff, including the senior management team, is consistent with
our pay policy. At appointment, salaries ore set in keeping with the market value. individual
experience and expertise. All solories ore benchmarked annuolly agoinst salaries for our
sector. Pay reviews are conducted annually considering the charity's budget, performance
to strategy, individual performance, and market analysis. MSUL is an accredited Living
Wage employer.
The trustees monitor the risks faced by MS-UL at each boord meeting and conduct a robust
and thorough review of the risk register at least annuolly. The boord are therefore fully
aware of the risks the charity faces ond can ensure controls and mitigations ore in place to
deal with any issues effectively should they arise.
The rlsks faced by MS-UK are
Dependency on income from public
fundralslng to support our services.
This year we have successfully increased
the range of events and activities
people may undertake to fundraise
for us, thereby reducing the risk we
faced in such a large proportion of our
income coming from o single event,
the London Morothon. We have also
invested in corporate fundraising and
have developed a plan to increase our
ability to apply for grants from trusts
and foundation5, thereby improving
the diversification of our income
streams. Creating a strong range of
funding streams means thot we can be
confident of our ability to be here in the
long-term for our community.
treat our colleagues well, offer them fair
renumerotion and are flexible wherever
possible so we can retain our talented
ond committed team.
3 Unsuccessful communlcatlons
strategy. With the majority of our
work being online, the success of our
communications strategy is cruciol Lo
our ability reach the MS community
to deliver our services and encourage
people to support our work. We take
a continuous plan - do - review
approach to implementing our strategy
to ensure our doy-to-day activities will
deliver on our plons to increase our
impact and income.
4 Informatlon technology. Effective,
efficient and safe systems ore vital
to ourwork. We work with external
providers to deliver our IT systems and
website requirements. This ensures we
have professional expertise avoiloble
to us and are able to provide the best
standard of service to our community.
2 Loss of key staff. As a small team any
role can be vital, and we are aware that
recruitment and onboarding of skilled
stoff can have significant cost and cause
deloys in our work plans. limiting the
support we con offer the MS community.
We therefore ensure that we

. l Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Trustees, Report (continued)
For the Year Ended 31 December 2025
Fundraisin9
MS-UK is registered with the Fundraising Regulator, ond oll ourwork is compliant with
the Code of Fundroising Practice. We employ o team of fundraisers with different areas of
specialism to drive income across a wide range of fundraising activities including events
(delivered by us ond third parties}, community fundroising. donations (including regular
donations), corporate fundraising ond partnerships, and trust and foundation fundraising. We
plan and deliverour fundraising activities ensuring excellent stewardship and maximum retum.
We partner with make a smile Lottery to run our lottery and have relationships with a smoll
number of commerciol participators. We have individual orrongements for managing their
contracts and ensuring the quality of their services.
We hove 5yStems in place to record and report on complaints we receive. During 2025 we
received no fundraising complaints.
Safeguarding is of utmost importance in fundraising. Our safeguarding policy and
procedures are designed to protect vulnerable individuals and the wider public from
unacceptable behaviour. All staff receive safeguarding training upon oppointment, with
annual refresher sessions to ensure continued awareness and compliance.
Objects and activities
Witnessing the trials of their previous partners battling multiple sclerosis (MS) and refusing
to simplywait foro cure. John ond Jean Simkins established MS-UK in 1993 to empower
individuals to take control of managing their condition and live healthier, happier lives.
MS is an incuroble condition that affects the central nervous system - your brain and spinal
cord. The symptoms people experience varies greatly from person to person and over time.
Such symptoms may ir)clude fatigue, pain, sensory problems such as with vision, cognition
difficulties ond issue5 Wlth bodily functions such as speech and swallowing and bladder
and bowel.
With over150,000 people living with MS in the UK and 7.000 more diagnosed each year.
the need for trusted and timely information, compossionate support and access to practical
activities has never been greater.
Working alongside the MS community. we aim to provide the support and services people
need to actively manage theircondition and improve their health and wellbeing.

Multiple Sclerosis-UK Limited
(A company limited by guarontee)
MS-UK
Supporting your MS journey
Trustees, Report (continued)
For the Year Ended 31 December 2025
Our objects
The relief of people affected by multiple
sclerosis and other similar conditions
The advancement of education of those
affected by multiple sclerosis in any
treatment, therapy or subject relating to
multiple sclerosis including the promotion of
research
To promote and protect the physical
and mental health of those affected by
multiple sclerosis through the provision
of information, support, engagement,
and awareness including the provision of
recreotional activities
The trustees confirm they have due regard to
the Charity Commission's guidance on public
benefit and that the charity'5 core activities
are in keeping with ourobject5.
Our activities
Online activities
We provide a wide range of online classes and courses. and information sessions all online
and therefore accessible to anyone in the UK. Our exercise and chairyoga classes are
specially designed to help people affected by MS stay active at home and manage their
wellbeing. These classes offer accessible exercise for all abilities.
We also offer weekly meditation and Qigong classes to support better emotional wellbeing.
We run four mindfulness courses a yearwhich are available as o four-oreight-week course.
Attendees are then able tojoin a monthly drop in, and often to support one anotherto
continue the practice in their daily lives afterthey have completed a course.
Our information sessions have included a wide range of subjects such a5 mental health and
exercise. bladder and bowel, and diet and supplements. We regulorly ask our community
to let Us knowwhat subjects theywould like us to include and either deliverthese sessions
ourselves, or where particularly specialisL we seek to partner with an external expert.
Peef SVPPOrt
Our online peer support groups are known os Peer Pods. These are volunteer-led social
gatherings over Zoorn bringing people together to create friendships and mutual support.
People come together in various groups including newly diognosed. coregivers and
regular'drop-ins,.

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Trustees, Report (continued)
For the Year Ended 31 December 2025
MS-UK Helpline
Our trained helpline staff provide information and emotional support to people with MS,
their carers, and families about anyLhing related to life with MS, from drug therapies to
complementary therapies and accessing benefits to home aids and adaptations. This can
be overthe phone, by email, live web chat orWhatsApp. There are no restrictions on what
we will discuss, we have no time limits. and we support people as often as they need us to.
The team also publish our infonnation boollets on o wide range of subjects available on our
website and in prinL The helpline is available overthe phone, email ond WhatsApp.
New Pathways
Our bi-monthly magazine is a go-to resource for people affected by MS. The magazine hos
been a lifeline for people by providing the latest news, research and thinking about how to
live well with the condition. Our editor understands the importance of ensuring there are no
taboo subjects and that all proctical options for managing life with MS are researched and
presented in a balanced way. Subjects covered vary from the latest reseorch and letters
pages to complementarytherapies and personal stories providing support and inspiration
to others, as well as what's worked well for them.
eLearning and trainin9
We have developed two online courses- Understanding MS, and Counselling people with
MS. These interactive digital courses include both Ms-related information and the lived
experiences of people affected by MS. The courses are primarily aimed ot professionals
looking to increase their knowledge of MS and better support their clients.
We also run regular webinars for professionals looking to learn more about MS and its
impact. Some of our webinars are tailored specifically to specific groups of professionals
such as social prescribers or care providers. Others are more general sessions open to any
profession or members of the public. All sessions are run by a memberof our helpline team
and a person living with MS to ensure they include lived experience.

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
IMS-UK
Supporting your Msjourney
Trustees. Report (continued)
For the Year Ended 31 December 2025
Achievements and performance indicators
2025 marks the second yearof our new strategy. Our focus forthis period is on proving holistic
self-support activities, unrivalled MS information and compassionate eTnotional 5UPPOrt. We
have significantly built upon the successes of 2024, with our services reoching many more
people thon ever before, our income continuing to grow ond our investment in marketing
delivering greater reach, increasing our impact and income. Our performonce against the
plans we outlined in last year's accounts are detailed here.
SeNices
Ouronline activities supported 1,n5 individuals living wwth MS. This is an increose of 41 %
compared with 2024. This demonstrates thatwe ore both listening to the MS community and
providing whatthey need from us, and olso that our marketing is enabling us to reach new
people. Those1,n5 people accessed 10,37 sessior)s between them (8.972 in 2024). This shows
that not only are we attracting new people to the service. but crucially people are coming
back to access a variety of our activities.
Our online activities achieved a net promoter score of 69°/o, demonstrating that we deliver
excellent services. During 2025, we ran fourweekly classes, exercise for oll obilities, chairyoga.
meditation and Qigong.
Exerclse
There were 270 unique attendees to these classes and 736 views of our recordings
on demand. Ourclients reported on maintaining or improving the following symptoms
Clients reported maintaining or improving symptoms
670/0
Mobility
Posture
70.1,
Balan
530/0
Cognition
12.10
Oyo
10% 20% 30% 40% 50¥0 800kn 70% 80%
880/0 of participants rate the classes os excellent or very good.

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
Supporting your Msjourney
Trustees, Report (contlnued)
For the Year Ended 31 December 2025
'It has been a really Important sprlngboard out of the depresslon and melancholy that I
often succumbing to, to be honesL Alon's Classes, und the other lovely ottendees there,
have returned a sense of '1 con do thls.. l am feellng lighter of heart again through thè
wide range of contact with other5. With this expert guidance and believing l Can Ilghten
my bodyweight, the MS-UK ¢la$se$ are a vital part of the holistic approo¢h.'
Chairyoga
There were 292 unique attendees to these classes ond 257 views of our recordings.
Our clients reported on maintaining or improving the following symptoms
Clients reported mointaining or improving symptoms
P0￿Ure
67°/,
Balance
50°/u
Cognition
17%
Levels of 8tr888
45
Levds of anxiety
ntity or qualty of ￿eep
34Vr,
0% 10% 20% 30% 40% 50% 60% 70% 80%
100°/o of participants rated the classes as excellent or very good.
'tThese classes offer] inclusiveness and sociol interactlon. They are financiallyaccessible,
enhance wellbeing and creating a sense of achlevement, while keeping mobile..

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
- MS-UK
Supporting your MS journey
Trustees, Report (continued)
For the Year Ended 51 December 2025
Qigong
There were 306 unique attendees to these classes and 156 views of our recordings.
Ourclients reported on maintaining or improving the following symptoms...
Clients reported mointaining or improving symptoms
Balance
360/u
Energy levels
570/0
Mental health
500/0
Levels of stress
66/0
Levels of anxiety
57Q/o
300/0 400h 500kn 600/0
70%
85°/0 of participants found the classes excellent or very good.
Guided meditation classes
There were 302 unique attendees to these closses and 87 views of our recordings.
Our clients reported on mointaining or improving the following symptoms.
Clients reported maintaining or improving symptom5
Levels of str8SS
719.
Leve15 of anxiety
64%
Quantrty or qudity of sleep
21/.
Expwience (rf pain
E￿￿nce cl fats'gue
290/0
0% 10% 20% 30% 40% 50% 60% 70% 80%
75 /0 of participants said they found the meditation classes excellent or very good.
10

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
IMS.UK
Supporting your Msjourney
Trustees, Report (continued)
For the Year Ended 31 December 2025
'It is a real lifellne and something tolook fonyard to. The activltles are so
well run and upbeat. it's a real pick me up. They are an incentive to keep trying.,
Get Creative, Improve your wellbeing
Throughout the yeor we hosted monthly creativity sessions. Each session has a
different theme such as Springtime and renewal. ortravel and holidays. Attendees
are invited to interpret the theme through a medium of their choice such as writing,
pointing or music. We had 121 unique attendees across the year.
Clients reported maintaining or improving symptoms
Enhances cognitive function
71°/,
Encourages mindfulness and being..
43°/o
Improves mood
100£)/,
Reduces anxiety
0%
20% 400/0 600A 809h 1000
75°/o of participants said they found these sessions excellent or very good.
Mindfulness courses - four ond eight weeks
We ran two courses of each 5ength this year. There were 31 unique clients.
Our clients reported on maintaining or improving the following symptoms:
Clients reported maintaining or improving symptoms
Levels of stress
92/,
Levels of anxiety
770/.
Quantity or quality of sleep
460/0
Experience of pain
230/0
Experien￿ of fatigue
38°/,
20Vo
40%
60%
80% 1000

Multiple Sclerosis-UK Limited
(A company limited by guarontee)
- MS-UK
Supporting your MS journey
Trustees, Report (continued)
For the Year Ended 31 December 2025
Acceptance and Commltment Therapy
We ran three six-week Acceptance and Commitment Therapy (ACT) courses with 26
attendees. ACT is an evidence-based psychological approach that uses mindfulness.
acceptance and value-focused action to help people deal with unwanted and
difficult thoughts, feelings and sensations.
63 per cent of attendees sold the course helped them manage their feelings of
anxiety more effectively.
88 per cent told us the course helped them manage unhelpful thoughts.
88 per cent reported to be more accepting of current difficulties.
Overall, attendees gave a net promoter score of100.
Newly dlagnosed course
Our newly diagnosed course comprises of three one-hour sessions and is open to
individuals who are newly diagnosed or who have recently re-engaged with their
MS diagnosis. By the end, participants have a solid understanding of MS, increased
confidence in managing their symptoms, and a supportive community to lean on. We
ran three courses in 2025, with 49 attendees attending live or on demond.
All survey respondents said the course was either helpful or very helpful.
'[ found the course very interesting and infomiative, there was lots to take in
and I was glad I could go back and listen agaln, as I was not available on the
day It was scheduled. I thought that It was excellent and I could catch up at a
tlme that sulted me, usually after2am, I have insomnia.,
Information sessions
In 2025 we offered 48 information sessions, one less than last year. The information
sessions had o total of 3.189 ticket orders, which is 286 more tickets than 2024.
Subjects included neuroplasticity and remyelinotion. MS and gut health, improving
cognition, managing pain. pregnancy, stem cell treatment, accessing welfare
benefits, and building connection through community. For many, these services
have become o lifeline, particulorly for those who are unable to leave their home or
struggle with mobility, enabling individuals to stay active, connected and engaged.
Participants oppreciate the flexibility of choosing different levels of participation.
which mokes it easier to remain involved ondmotivated.
12

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Trustees, Ileport {contlnued)
For the Year Ended 31 December 2025
A sense of community has been highlighted as a key benefit. Participants feel less
isoloted, and more supported and understood by others who share similar
experiences. The opportunity to connect with peers, led by instructors who have
expertise in MS. provides a sense of belonging and acceptance. This community
connection has been described as a source of comfort, reducing feelings of
loneliness. and offering an invaluable space to share experiences and learn
coping strategies.
Additionally. mony participants value the mental and physical benefits of the
services. The activities help to improve physical health, boost mental wellbeing, and
give structure to dcjily life. For some, joining these classes hos been a turning point,
offering a structured routine, improving confidence. and ollowing for social
interaction. The service's emphasis on inclusivity and understanding hos made
participants feel capable, appreciated, and more connected to others, transforming
their experiences of living with MS.
Across all online activities, a total of 25 organisotion5 or professionals collaborated
with u5 to provide our services during the year, with several delivering multiple
classes. courses and sessions. This included 11 professionals and organisations
who generously offered their time and experLise free of charge.
Peer support service
We ran a 15 Peer Pods. with 522 sessions held across the year and o total of 2,319
ottendances overall. We had 176 (20 more than 2024} unique attendees with 96 of
these using our service for the first time. There was an averoge of 60 unique
attendees each month (13°/0 increase on 2024). with over 40°/¢ of people attend
weekly or more often. Our pods are..
Mindfulness
New to MS
New to MS - friends and family
Women's Pod
Book Club
Caregivers,
Creative Writing
Women's x 2 (Thursday evening and Friday
morning)
General drop in x 4
During the year, we closed three of our Peer Pods due to low attendance and
transferred attendees to alternative pods. In response to feedback. we have also
launched a new Peer Pod 'New to MS - Friends and Family,.
13

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
- MS-UK
Supporting your MS journey
Trustees, Report (continued)
For the Year Ended 31 December 2025
In addition to the Peer Pods. many of these volunteers have also created WhatsApp groups
to run alongside their pod. This hos proven to be a great way for members to keep in touch
and find mutual support and encouragement between sessions and is especially valuable to
those that ore not always able to attend o pod but are still in need of support.
This year. our focus was on identifying potential barriers to attendance, to increase the
number of people joining the service. To help address these, we delivered four discovery
sessions titled 'How joining a Peer Pod can support your MS,. These relaxed and informal
sessions gave people the opportunity to learn how the Peer Pods work, what to expect if
they joined, and the wider benefits of peer support. Participants were also invited to ask
questions, share any concerns, and meet some of ourvolunteer hosts.
The sessions were well attended and, alongside Several Facebook advertising
campaigns running throughout the year, generoted o significant increase in interest,
with 602 new enquiries in total. While not all of these enquiries have converLed into
attendance, they have substantially increased awareness of the service, ready for
when the time is right for these people to reach out.
We asked our attendees about the difference the seNice made for them and they reported
Of those who had felt socially isolated, 87 per cent said that joining a peer pod
reduced that isolation.
Of those that were lonely, 86 per cent said that joining a peer pod reduced their
loneliness.
78 per cent said the peer pod gave them a sense of belonging to a community.
61 per cent said they gained emotional support.
82 per cent said they gained practical 5UPPOrt.
39 per cent said they had formed long-lasting friendships.
The service gained a net promoter score of 66 /. demonstrating excellent support.
'It's that klndness and mutual encourugement. The humour. The loveliness of the others
there. The total understanding. The sense of belonging. The alleviation of the loneliness
that is always somehow there, in bigger or smaller measure. when you are living wlth a
chronic illness.,
14

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Trustees, Report (contlnued)
For the Year Ended 31 December 2025
Helpllne
Our helpline supported 1,400 contacts. exceeding our target by six per cent.
The top five reason5 people contacted us were for emotional support (almost a third
of our calls). to discuss symptoms, benefits, care needs and medication.
During the yearwe changed ourweb chat function, forWhatsApp and have seen a
steady rise in the number of people contacting us through this channel.
'WhatsApp was easyto use, and the response was quick and obviously from a
human not a chatbot. This is the second time I've contacted them, the other
was by phone ond they were Trlendlyg knowledgeable and helpful both tlmes.,
100 per cent of people surveyed sold they would recommend our helpline to others.
93 per cent said they got the information they needed.
93 per cent said they received the emotional support they needed.
Many reported learning about what support was available in their local area. feeling
better equipped to make choices and decisions, an understanding of treatments
available, what benefits to apply for or what to say to a health professional.
'They are the best place for conslstent and knowledgeable support.
Always frlendlyp empathic and person-centred. A great servlce.,
The net promoter score for our helpline was 92°/o, which is world-closs.
The team also reviewed five of our Choices information booklets, which are completed on
rotation each year to ensure we include the most up-to-date information and experiences
of our community. We posted 3,382 booklets this year and they were read online 74,049
times, which far exceeded our target of 50,000.
New Pathways
Whilst our magazine enioys strong brand loyalty, with half our readers subscribing for
over 10 years, and an additional 25 percent over 5 years, we were pleased to see o
9 per cent increase in subscribers.
The magazine content continues to balance news feotures with stories and columns
written by people living with MS, and practical features such as recipes and
exercises people can do from home.
15

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
- MS-UK
Supporting your MS journey
Trustses, Report (continued)
For the Year Ended 31 December 2025
Bringing our advertising in house has meant that we have been able to develop
strong relationships with our advertisers and increase income in this area.
When asked why they subscribe, readers consistently described New Pathways as
trusted, informative ond supportive. Key themes included staying up to date with MS
research and treatments, learning from the lived experiences of others, and having
access to balanced information they can rely on.
Many readers highlighted that New Pathways helps them feel les5 isolated, gives
them time to absorb information at their own pace. and supports them to make
informed choices about how they live with MS. Several described it as their main or
only source of MS related informoLion.
In our most recent reader survey,
88 per cent of respondents say New Pothwoys hos helped them improve their
wellbeing.
100 per cent said it improves their understanding of MS.
'There's no other publicatlon like It! It mokes me feel part of a communlty.
l also find a lot to discuss with my MS team.,
The net promoter score for New Pathways was 69 %.
Training for professionals
This year we delivered 17 MS awareness training sessions to 1,928 professionals,
519 more than the previous year. We delivered three generic sessions that were
one-hour Song webinors, and three 90-minute webinars to core providers, social
prescribers and DWP/employment suppori workers each. We also delivered five
closed sessions to groups including the Royal College of nursing and a number of
corporate supporters.
Each webinar is delivered by a member of our helpline team and a volunteer
with lived experience. We are hugely grateful to ourvolunteers that share their
personal experiences in this manner to support the education of health and social
care workers.
16

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Trustees. Report (contlnued)
For the Year Ended 31 December 2025
We asked attendees to complete a survey.
94 per cent agreed or strongly agreed that they had a better idea of the kind if
support someone with MS may need.
93 per cent agreed to strongly agreed that their knowledge of MS had increased.
99 per cent agreed or strongly agreed that hearing about the lived experience of
someone with MS was useful.
The net promoter score for these webinars was 81°/o, which is world-class.
'Thls tralnlng was a big eye opener, I hod no idea what MS was or the different
variations and how It Impacted peoples live. Thankyou for the education and
awgreness the training gave me.,
We also provide two eLearning courses, MS Awareness and Counselling People with
MS. We had 37 enrolments to these courses throughout the year.
Thank you to all that partner with us to deliver our servlces and those that
hove offered their support pro bono.
Thank you to ourvirtual Insights Panel members who have helped shape our
services thls year.
Fundfaistn9
2025 was another successful year for the fundraising team who significantly
exceeded their targets for the year, parLicularly in events and community, and
challenge fundraising.
The team worked closely with the communications team to inspire supporters to sign
up for fundroising activities resulting in 73 per cent more fundroisers than in 2024.
Through greot stewardship. the team were able to support our fundraisers to raise
even more funds than in previou5 years and have developed strong relationships that
mean people keep coming back to us.
'The fundraising team have been incredible. The personable approach and
regular check-ins vio phone have been hugely appreciated..
17

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK .
Supporttng your Msjourney
Trustees, Report (continued)
For the Year Ended 31 December 2025
Other highlights where activities exceeded our targets for the year included our Big
Give Christmas campaign, the Tower Walk, Big Purple Dog Walk and Skydiving days.
Corporate fundraising did not perform so well against targets due to a protracted staff
vacancy, but we are pleased to have recruited to the position ready for 2026.
We received exceptionally high income from legacies this year. We continued our
partnership with a Will writing organisation that offer free Wills to our community and are
pleased with the progress so far, having run two legacy giving campaigns which have
generated a good number of Will pack requests.
Income from Trusts and Foundations reached our target for the year, albeit lower than
previous years. This is a reflection of growing competition and a lack of time to dedicate
to this income stream. We will look to increase our activity in this area next year.
Marketin9 and communications
There are two main objectives to our marketing strategy, to increase our impact and
increase our income. This year, we reached 1,106 people affected by MS who had
not used our services before. We also attracted 587 new fundraisers to support our work.
Website users grew by 29 per cent, Facebook reach grew 528 per cent and
Instagram 195 per cent.
We olso saw a growth of 30 per cent in press coverage, predominantly printed press.
We continued our collaboration with other national MS charities during MS
Aworeness Week. Ourjoint campaign was themed #Msconversations. Social media
engagement rose sharply during the campaign period. On Instogram, content
interactions increased by 360°/o compored to the previous week. while video watch
time increased by 1000°/o. Facebook content interactions increased by 274/0. Wlth
reach rising to 245.044, representing 0 1,500 /0 increase on the previous week.
Alongside digitol activity, an in-person town hall event wos delivered as port of MS
Awareness Week. This supported community engagement, offered valuoble
opportunities for discussion and connection, and helped raise awareness of MS-UL'S
work while creating longer term value through new relotionships.

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
IMS-UK
Supporting your MS journey
Trustees, Report {contSnued)
For the Year Ended 31 December 2025
We also ran our first brand awareness campaign, Life is for Living, a value-led awareness
campaign designed to show that people affected by multiple sclerosis can live life in
a way that feels right for them, with the right support in place. The campaign focused
on empowerment, choice and everyday moments ofjoy, while highlighting MS-U
services including the Helpline, online activities. trusted information, peer support and
New Pathways. The primary aim was to increase awareness of MS-UL and encouroge
engagement with services, while strengthening brand awareness by positioning the charity
as friendly, supportive and nonjudgmental.
People
Central to our success is our team. We continue to provide a wide range of wellbeing
initiatives, invest in stoff training and development and hold teom doys and
celebrations to sofeguard the supportive culture we have built, and which is a key
driver for our performance.
We were fortunate to be supported by 252 volunteer this year, who gave 1,296 hour5
of their time hosting book clubs, cheering fundraisers, working in our office, and
sharing their lived experience.
We would Ilke to slncerely thank everyone who has made our work posslble - our
partners. fundralsers, volunteers, funders, the companies that have supported us
and our staff team for theirdedication and incredible ochievements.
Financlal feview
This year our income, compared with 2024. increased by £311,601 {24 % ). We increased our
expenditure by £8,482 (under 1°/.}. For 2025 we ore reporting a surplus of £484,134 for the
yeor. The largest contributor to our increase income wos from legacies.
During the year gifts were received from corporate and service user supporters, and
these are reflected at fair value. An adjustment ha5 been made to the previous year
to correctly reflect income and expenditure relating to the deemed value of 'Google
Ad. grants received.
Our reserves policy is to maintain free cash reserves at a minimum of six months
operating costs, after fixed assets, endowments and restricted funds. This is to ensure
the charity can continue current octivities ond commitments in the event of any
significant drops in funding. Free cash reserves reported in these accounts are
£1,084.953, which equates to 9.5 months, operating costs.
19

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
- MS-UK
Supportin9 your MS journey
Trustees. Report (continued)
For the Year Ended 31 December 2025
Goin9 Concern
After making appropriate enquiries. The trustees have a reasonable expectation that
the charitable company hos adequate resources to continue in operational existence
for the foreseeoble future. For this reason, they continue to adopt the going concern
basis in preparin9 the financial statements. Further details regording the adoption of
the going concern basis can be found in the accounting policie5.
Plans fof 2026
SeNices
Support up to 2,000 people through our
online activities
Pilot a group Cognitive Behovioural
Therapy course
Grow our peer pods to support 80 people
each month
Provide information and emotional
support to 1,500 people through our
helpline
Develop resources on MS and Work- one
for employers. one for employees
Publish online and print our information
booklets reaching more than 50.000
people, reviewing five booklets
Create a new booklet on sex and MS
Publish six issues of our New Pathways
magazine and continue gift
Provide MS owareness training to at least
2,000 professionals
Ma(ketin9
Continue with our current strotegy and
look to attract more service users and
fundraisers, and raise awareness of MS
and MS-UK
Deliver anotherjoint MS Awareness Week
campaign
Recruit an apprentice to support our work
Improve navigation around our website
Incorporate generative Al to our search
plans
People
Continue to invest in PDPS. training, and
the wellbeing of our staff
Review our benefits package
Continue team-building initiatives -
team days, development sessions and
celebrating successes
Fundfaising
Govemance
Work with the MS community and other
stakeholders to develop a strategy for
2027-2030
Increase our income from events and
community fundroising
Grow corporate relationships and income
Increase income from trusts and
foundations
Create a major donor strategy
Recruit an apprentice to support our work

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
IMS-UK
Supporting your MS journey
Trustees, Report (contlnued)
For the Year Ended 31 December 2025
TfUStees' responsibilities statement
The trustees (who are also the directors of Multiple Sclerosis-UL Limited for the
purposes of company law) are responsible for preparing the trustees, annual report
and the financial statements in accordance with applicable law and United Lingdom
Accounting Standards (United Lingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial stotements for each financial
year. Under company law the trustees must not approve the financial statements
unless they are Satisfied that they give a true and fair view of the state of affairs of
the charitable company and of its incoming resources and application of resources,
including its income and expenditure, for that period.
In preparing these financial statements, the trustees are required to..
Select suitable accounting policies and then apply them consistently
Observe the methods and principles in the Charities SORP {FRS 1021
Moke judgements ond accounting estimates that are reasonable and prudent
State whether applicable UKAccounting Standard5 (Ffis 102) have been followed,
Subject to ony material departures disclosed and explained in the financial
5taLements, and
Prepare the finonciol statements on the going concern basis unless it is inappropriate to
presume that the charity will continue in operation.
The trustees are responsible for keeping c2dequate accounting records thot are
sufficient to show and explain the charity's transactions and disclose with reasonable
accuracy ot any time the financial position of the charity and enable them to ensure
that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charity and hence for toking
reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and
financial information included on the charitable company's website.
Legislotion in the United Lingdom governing the preparation and dissemination of
financial statements may differ from legislation in other jurisdictions.
21

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
- MS-UK
Supporting your MS journey
Trustees, Report (continued)
For the Year Ended 31 December 2025
Members. liability
Members of the charity guarantee to contribute on amount not exceeding £10 to the
assets of the charity in the event of winding up. The total number of such guarantees
at 31 December 2025 was eight. The trustees are members of the charity, but this
entitles them only to voting rights. The trustees have no beneficial interest in the charity.
Trustees, indemnity
Throughout the year on indemnity insurance policy was in ploce covering the trustees.
Disclosure of information to auditors
In so for as the trustees are aware..
there is no relevant audit information of which the charitable company's auditor is
unaware., and
the trustees have token oll steps that they ought to have taken to make themselves
aware of any relevont audit informotion and to establish that the auditor is aware of
that information.
Au(JitOfS
The auditors, Griffin Chapmon, have indicated their willingness to continue in office.
The designated Trustees will propose a motion reappointing the auditors at a
meeting of the Trustees.
Small company Provisions
This report has been prepared in accordance with the special provisions for small
companies under Part 15 of the Companies Act 2006.
Approved by order of the members of the board of Trustees on S and
signed on their behalf by:
M Swan
Chair

Multiple Sclerosis-UK Limited
(Acompany limited by guarantee)
MS-UK
Supporting your MS journey
Independent auditor's report to the members of Multlple Sclerosis-UK Limited
Opinion
We have oudited the financial statements of Multiple Sclerosis-UK Limited (the'chority'}
for the year ended 31 December 2025 which comprise the Statement of financial artivities,
the Balance sheet, the Statement of cash flows and the related notes, including a
summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United
Lingdom Accounting Standards. including Financiol Reporting Standard 102 'The Financial
Reporting Standard applicable in the UL and Republic of Ireland, (United Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true ond fair view of the state of the charitable company's affairs as at 31
December 2025 and of its incoming resources and application of resources, including its
income and expenditure for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice., and
hove been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in occordance with International Standards on Auditing (UL) (ISAS
{UK)) and applicable law. Our responsibilities underthose standards are further described
in the Auditor's responsibilities for the audit of the financial statements section of our
report. We are independent of the charitable company in accordance
with the ethical requirements that are relevant to our audit of the financial statements in
the United Lingdom, including the Financial Reporting Council's Ethical Standard, and we
have fulfilled our other ethical responsibilities in accordance with these requirements. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide
a basis for our opinion.
Conclusions relotlng to golng concern
In auditing the financial stotements, we have concluded thot the Trustees, use of the going
concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties
relating to events or conditions that, individually or collertively, moy cast significant doubt
on the charitable company's ability to continue as a going concern for a period of at least
twelve months from when the financial statements are outhorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern
are described in the relevant sections of this report.
23

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
Supporting your MS journey
Independent auditor's report to the members of Multiple Sclerosis-UK Limited
(continued)
Other Informatlon
The other information comprises the information included in the Annual reporL otherthan
the financial statements and our Auditor's report thereon. The Trustees are responsible
for the other information contained within the Annual report. Our opinion on the financial
statements does not cover the other information and, except to the extent otherwise
explicitly stated in our report, we do not express any form of assuronce conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our knowledge
obtained in the course of the audit, or otherwise appears to be materially misstated. If we
identify such material inconsistencies or apparent material misstatements, we are required
to determine whether this gives rise to a material misstatement in the financial
stotements themselves. If, based on the work we have performed, we conclude that there
is a materiol misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on othèr matters prescribed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees, report for the financial year for which the financial
statements are prepared is consistent with the finoncial statements.
the Trustees, report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exceptlon
In the light of our knowledge and understanding of the charitable company and its
environment obtained in the course of the audit, we have not identified material
misstatements in the Trustees. report.

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Independent auditor's report to the members of Multiple Sclerosis-UK Limited
(continued)
We have nothing to report in respect of the following matters in relation to which
Companies Act 2006 requires us to report to you if, in our opinion..
odequate accounting records have not been kept, or returns adequate for our audit have
not been received from branches not visited by us. or
the financial statements are not in agreement with the accounting records and returns.
or
certain disclosures of Trustees, remuneration specified by law are not made. or
we hove not received all the information and explanations we require for our oudit. or
the Trustees were noL entitled to prepare the financial statements in accordance with
the small companies regime and take advantage of the small companies, exemptions in
preparing the Trustees, report and from the requirement to prepare o SLrategic report.
Responslbllltles of trustees
As exploined more fully in the Trustees, responsibilities statement, the Trustees {who
ore also the directors of the charitable compony for the purposes of company law) are
responsible for the preporation of the financial stotements and for being satisfied that
they give a true and fair view, and for such internal control 05 the Trustees determine is
necessary to enable the preparation of finonciol stotements that are free from material
misstotement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the
charitable company's ability to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless
the Trustees either intend to liquidate the charitable company or to cease operations, or
have no realistic alternative but to do so.
Audltor's responsibilities for the audlt of the financial statements
Our objectives are to obtain reasonable assuronce about whether the financial statements
as a whole are free from moteriol misstotement, whether due to fraud or error, and to
issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of
assurance, but is not a guorantee that an audit conducted in accordance with ISAS (UK}
will always detect a moterial misstatement when it exists. Misstotements can arise
from fraud or error and are considered material if, individuolly or in the aggregate, they
ould reasonably be expected to influence the economic decisions of users taken on the
basis of these financial statements.
25

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
- MS-UK
Supporting your Msjourney
Independent auditor's report to the members of Multiple Sclerosis-UK Limited
(continued)
Irregularities, including fraud, ore instances of non-compliance with laws and regulations.
We design procedures in line with our responsibilities, outlined above, to detect material
misstatements in respect of irregularities, including froud. The extent to which our
procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory requirements applicable to
the charitable compony and considered thot the most significant are the Componies Act
2006, UK finonciol reporting standards as issued by the Financial Reporting Council and
UL taxation legislation.
We obtained an understanding of how the charitable company complie5 Wlth these
requirements by discussions with management ond those charged with governance.
We assessed the risk of material misstatement of the financial statements, including the
risk of material misstatement due to fraud and how it may occur, by holding discussions
with management and those charged with governance. We assessed the monagements
own identification processes and assessment of risks, to ensure internal procedures would
help identify such issues.
We enquire of management and those charged with governance as to any known
instance5 of non-compliance or suspected non-compliance with laws and regulations. We
reviewed legal correspondence and board meeting minutes to identify matters of fraud or
non-compliance.
Based on this understonding, we designed specific appropriate audit procedures to
identify instances of noncompliance with laws and regulations. This included making
enquiries of management and those charged with governonce ond obtaining additional
corroborative evidence as required.
Based on the inherent limitations of on audit. there 15 0 risk that we will not detect
irregularities. including those leading to o material misstatement in the financial
statements or non-compliance with regulation. This risk increases the more that
compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances
of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rother than error, as
fraud involves intentionol concealment, forgery, collusion, omission or misrepresentation.

*i:I,j Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Independent auditor's report to the members of Multiple Sclerosls-UK Limited
(continued)
A further description of our responsibilities for the audit of the financial statements is located
on the Financial Reporting Council's website at.. www.frc.org.uk/auditorsresponsibilities.
This description forms part of ourAuditor's report.
Use of our report
This report is made solely to the choritable company's members. as a body, in accordance
with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertoken
so that we might state to the charitable company's members those matters we are
required to state to them in an Auditor's report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to anyone other than
the charitable company and its members. as a body. for our audit work, for this report, or
for the opinions we have formed.
Thomas Maddocks FCA FMAAT (Senlor statutory auditor)
for and on behalf of
Griffin Chapman
Chartered Accountants
Statutory Auditor
4 & 5 The Cedors, Apex 12
Old Ipswich Rood
Colchester
Essex
C07 7QR
Date..

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
- MS-UK
Supporting your Msjourney
Statement of financial actlvities (incorporating income and expenditure account)
for the year ended 31 December 2025
AS restated
Total
funds
2024
Endowment
funds
2025
Restricted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Note
Income and
endowments from:
Donations and1gga¢ie$
Charitablo activities
Other trading activities
Inve5trnenl$
11,874
85.924
593,290
73,427
804,028
33.309
605.164
159,351
804,028
34,349
463, 791
165,540
636,958
25,002
980
Total income and
endowments
980
97.798
1,504,114
1.602.892
1,291,291
Expenditure on:
Raising funds
Charitable activities
73,924
7.000
372.735
665,099
446,659
672,099
497,612
612,664
Total expenditure
80,924
1,037,834
1,118,758
1, 110.276
Net movement In
funds
980
16.874
466.280
484,134
q81,015
Reconciliation of
funds".
Total funds brought
forward
Nel movement in funds
236.802
980
646.793
466,280
883,595
484,134
702.580
181,015
16,874
Total lunds carried
forward
237,782
16.874
1.113,073
1,367.729
883,595
The Statement of financiol activities includes all gains and losses recognised in the year.
The notes on pages 31 to 50 form part of these financial statements.

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
IIMS_UK
Supportin9 your MS journey
Balance sheet as at 31 December 2025
2026
2024
Plote
F+xed as$ets
Tangible assets
15
28.120
12, 185
28.120
q2, 185
CuTrent assets
Debtors
Inve$tm¢nts
Cash ot bank ond in hand
16
207.201
528.264
618.031
I 19,241
408.032
423.683
17
1.353.486
950,956
Current liabilities
Creditors= amounts lalllng du• within on
yoar
18
(13,877)
f79,546)
N•t current assets
1.339.609
871.410
Total ags¥ets le$$ Current liabilities
1,367,729
883,595
Net assets excluding penslon asset
1.367.729
883,595
Total net assets
1,36Y.729
883,595
Gharity funds
Endowmènt funds
Re$lrid•d fvnds
Unrestrlctsd fund5
21
21
21
237.Y82
16,874
1.113,073
236.802
646,793
Tot*1 funds
1,367,729
883,595
The Trustees acknowledge their responsibilities for complying with the requirements of the
Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable
to entities subject to the small companies regime.
The financial statements were approved ond authori5ed for issue by the Trustees on
and signed on their behalf by..
Matthew Swan, Trustee
The notes on pages 31 to 50 form part of these financial statements.
29

Multiple Sclerosls-UK Limited
(A compony limited by guarantee)
IMS.UK
Supporting your Msjourney
Statement of cash flows
For the year ended 31 December 2025
2025
2024
Cash flows from operating activities
Net cash used in operating a¢lNilies
307,120
143.302
Cash flows fiom investing activities
Interest received
Purchase of tangible fixed assets
34,349
126,899)
25,002
(170)
Net cash provided by investing activities
7,450
24.832
ash flows from finantlng aetlvltles
Net cash provided by financing actlvitles
Change in cash and cash equivalents in Ihe year
Cash and cash gquivalents al the beginning of the year
314.670
168.134
831.715
663.581
Cash and ￿$h equivalents at the end of ihe yea
1,146,285
831.715
The notes on pages 31 to 50 form part of these finonciol stotements

'&'A Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Notes to the Financial Statements
For the Year Ended 51 December 2025
Generol Informatlon
Multiple Sclerosis-UK Limited 15 a company limited by guarantee, registered in
England and Wales, registration number 02842023. The address of the registered
office is D3, Knowledge Gateway, Nesfield Road, Colchester, Essex. C04 3ZL. It is also
o registered charity, registration number1033731. Further details are included in Lhe
Trustees. Report.
Accounting pollcles
Basis of preparatlon of flnanclal statements
The financial statements have been prepared in accordance with the
Charities SORP {FRS 102) - Accounting and Reporting by Charities.. Statement
of Recommended Practice applicable to chorities preparing their accounts
in accordance with the Financial Reporting Standord applicable in the UL
and Republic of Ireland (FRS 102> (effective 1 danuary 2019}, the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
and the Companies Act 2006.
Multiple Sclerosis-UK Limited meets the definition of a public benefit entity
under FRS 102. Assets and liabilities are initially recognised at historical cost or
transaction value unless otherwise stated in the relevant accounting policy.
12 Golng concern
The financial statements have been prepared on a going concern basis as
the trustees are of the view that the charity will have sufficient reserves to
continue in operational existence for at least a period of12-months from the
date of approving these financial statements.
In forming their view. they hove considered and revised the plans ond
budgets to respond to and address the impact of the challenging economic
climate and reduced grant funding. The charity has responded positively to
these challenges, identifying and growing opportunities to raise funds whilst
meeting service user needs in an effective manner.
They have considered the closing position of the charity at 31 December 2025
showing strong positive leve15 of cash, net current assets, unrestricted funds
and carefully considered budgets and plans for future periods.
31

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Notes to the Financial Statements
For the Year Ended 31 December 2025
Accountlng pollcles (contlnued)
2.3 Income
All income is recognised once the charity has entitlement to the income,
it is probable that the income will be received and the amount of income
receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing
entitlement. the probability of receipt and the ability to estimate with
sufficient accuracy the amount receivable. Evidence of entitlement to a
legocy exists when the charity has sufficient evidence that a gift has been left
to them (through knowledge of the existence of a valid will and the death of
the benefactor) and the executor is satisfied that the property in question will
not be required to satisfy claims in the estate. Receipt of o legacy must be
recognised when it is probable that it will be received and the fair value of the
omount receivable. which will generally be the expected cash omount to be
distributed to the charity, con be reliably measured.
Grants are included in the Statement of financial activities on a receivable
basis. The balance of income received for specific purposes but not expended
during the period is shown in the relevant funds on the Balance sheet. Where
income is received in odvance of entitlement of receipt, its recognition is
deferred and included in creditors os deferred income. Where entitlement
occurs before income is received, the income is accrued.
Donated services and facilities are included at the value to the charity where
this can be quantified. The value of services provided by volunteers hos
not been included in these accounts in accordance with the Statement of
Recommended Practice. Due to the procticol difficulties involved in valuing
a large number of low value items, goods donated for resale through the
charity's online shop are included as income when they are sold.
Income tax recoverable in relation to donations received under Gift Aid or
deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the
time the investment income is receivable.
Other income is recognised in the perii)d in which it is receivable and to the
extent the goods have been provided or on completion of the service.

Multiple Sclerosis-UK Limited
(A compony limited by guarantee)
IMS-UK
Supporting your MS journey
Notes to the Financbal Statements
For the Year Ended 31 December 2025
Accounting policies {¢ontlnued)
2.4 Expendlture
Expenditure is recognised or)ce there is a legal or constructive obligation
to transfer economic benefit to a third party, it is probable that a tronsfer
of economic benefits will be required in settlement and the amount of the
obligation can be measured reliably. Expenditure is classified by octivity. The
costs of each activity are made up of the total of direct costs and shared
costs, including support cost5 involved in undertaking each activity. Direct
costs attributable to o single activity are allocated directly to that octivity.
Shared costs which contribute to more than one activity ond support costs
which are not attributoble to a single activity are apportioned between those
activities on o basis consistent with the use of resources. Central staff costs are
allocated on the basis of time spent. and depreciation charges allocated on
the portion of the osset's use.
Expenditure on raising funds includes all expenditure incurred by the charity
to raise funds for its charitable purposes and includes costs of all fundroising
activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the
activities which further the charity's objectives, as well as any associated
support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest recelvable
Interest on funds held on deposit is included when receivable and the amount
can be measured reliably by the charity,. this is normally upon notification of the
interest paid or payable by the institution with whom the funds are deposited.
2.6 Taxatlon
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6
of the Finance Act 2010 and therefore it meets the definition of o charitable
company for UK corporation tox purposes. Accordingly, the charity is potentiolly
exempt from taxation in respect of income or capital goins received within
ategories covered by Chapter 3 Port 11 of the Corporation Tax Act 2010 or
Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that
such income or gains are applied exclusively to charitable purposes.
33

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
IMS-UK
Supporttng your Msjourney
Notes to the Financlal Statements
For the Year Ended 31 December 2025
2. Accounting pollcies (continued)
2.7 Tanglble fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under
the cost model, tangible fixed assets are measured at cost les5 accumulated
depreciation and any accumulated impairment losses. All costs incurred to
bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Depreciotion is charged so as to allocate the cost of tangible fixed assets less
their residual value over their estimated useful lives.
Depreciation is provided on the following basis..
Freehold property
Improvements to property
Fixtures and fittings
Office equipment
20/0 Straight line
20/0 Straight line
250/0 reducing balance
250/0 reducing balance
No depreciation is provided on land.
2.8 Investments
Fixed asset investments are o form of financial irnstrument and are initially
recognised at their tronsaction cost and subsequently measured at fair value
at the Balance sheet date, unless the value cannot be measured reliably
in which case it is measured at cost less impairment. Investment gains and
losses. whether realised or unrealised, ore combined and presented as 'Gains/
(Losses) on investments, in the Statement of financial activities.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any
trade discount offered. Prepayments are valued at the amount prepaid net of
any trade discounts due.
2.10 Cash at bank and in hand
Cash ot bank and in hand includes cash and short-term highly liquid
investments with a short maturity of three months or less from the date of
acquisition or opening of the deposit or similar account.

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Notes to the Financial Statements
For the Year Ended 31 December 2025
Accountlng pollcles {continued)
2.11 Llabllltles and provisions
Liabilities are recognised when there is an obligation at the Balance sheet
date as a result of a past event, it is probable that a transfer of economic
benefit will be required in settlement, and the amount of the settlement can
be estimated reliably.
Liabilities are recognised at the omount that the charity anticipates it will pay
to settle the debt or the amount it has received a5 advanced payments for
the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to
settle the obligation. Where the effect of the time value of money is material,
the provision is based on the present value of those amounts, discounted at
the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of financial activities
as a finance cost.
2.12 Financial instruments
The charity only has financial ossets and financial liabilities of a kind that
qualify as basic financial instruments. Basic financial instruments are
initially recognised ot transaction value and subsequently measured at their
settlement value with the exception of bank loons which are subsequently
measured at amortised cost Using the effective interest method.
2.13 Pensions
The charity operates a defined contribution pension scheme and the pension
charge represents the amounts payable by the charity to the fund in respect
of the year.
2.14 Fund accounting
Generol funds ore unrestricted funds which are available for use at the
discretion of the Trustees in furtherance of the general objectives of the chority
and which have not been designated for other purposes.

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your Msjourney
Notes to the Financlal Statements
For the Year Ended 31 December 2025
Accountlng pollcles (contlnued)
2.14 Fund accountlng (contlnued)
Restricted funds are funds which are to be used in accordance with specific
restrictions imposed by donors or which hove been raised by the charity for
particulor purposes. The costs of raising and administering such funds ore
charged ogainst the specific fund. The aim and use of each restricted fund is
Set out in the notes to the financial statements.
Investment income, goins and losses ore allocoted to the appropriate fund.
Critical accounting estimates and areas of judgement
Estimates and judgements ore continually evaluated ond are based on historical
experience and other foctors, including expectations of future events that are
believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions..
The charity makes estimates ond assumptions concerning Lhe future. The resulting
accounting estimates and assumptions will. by definition, seldom equal the related
actual results. There are no estimates and assumptions that are considered to have
a significant risk of causing a material adiustment to the corrying amount of assets
ond liabilities within the next financial year.
Income from donations and legacies
Endowment Restricted Unrestrlcted
funds
funds
funds
2025
2025
2025
Total
funds
2025
Total
funds
2024
Donations and Gift aid
Legacies
11,874
191.073
402,217
202,947
402.217
448,256
15,535
11.874
593,290
605,164
463, 791
Tolal 2024
235,000
228. 791
463.791

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
IMS-UK
Supporting your MS journey
Notes to the Financlal Statements
For the Year Ended 31 December 2025
Income from charitable actlvltles
As restated
Total
funds
2024
Restricted UnrestTi¢ted
fund$
funds
2025
2025
Total
funds
2025
Grants
85,924
2.000
6.350
31.050
34,027
87,924
6,350
31.050
34,027
107, 198
6, 785
28,931
22,626
Othor income
New pathways subscripuons
Support sessions
85,924
73.427
159,351
165,540
Total 2024 as rnstated
96,898
68,642
165.540
Income from fundralslng actlvltles
Income from fundralslng events
Unrestricted
funds
2025
Total
funds
2025
Total
lunds
2024
Fundraising
Advertising and other
786,632
17,396
786,632
17.396
620, 101
16,857
804,028
804,028
636,958
Total 2024
636.958
636.958
37

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
IMS.UK
Supporting your MS journey
Notes to the Financial Statements
For the Year Ended 31 December 2025
Investment Income
Endowment Unrestricted
funds
funds
2025
2026
Total
funds
2025
Total
funds
2024
Inlorest received
980
33.369
34,349
25,002
Total 2024
1,802
23.200
25.002
Expenditure on raising funds
Costs of raislng voluntary income
As restated
Total
fvnds
2024
Restrleted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Direct fvndraising costs
Support costs
73.924
312.796
59,939
386,720
59,939
438.435
59,177
73.924
372.735
446.659
497.612
Total 2024 as restated
86.89
410, 714
497.612
Expenditure on charitable activltles
Charltable
activities
2025
Support
costs
Total
funds
2025
Total
funds
2024
2025
Inlomiation and Support servi¢es
533.213
138,886
672,099
612,664
Total 2024
475, 772
136,892
612,664

Multlple Sclerosis-UK Limited
(A company limited by guarantee)
IMS.UK
Supporting your MS journey
Notes to the Financial Statements
For the Year Ended 31 December 2025
10.
Further analysis of expenditure on charltable actlvlties
Unrestrfcted Restricted
funds
funds
2025
2025
Total
funds
2026
Total
funds
2024
Dired ¢osts
Support costs (nole 111
Governance costs..
AudiUSndependonl oxamination fees
526,213
133.411
7.000
533.213
133,411
475,772
131,717
5,475
5,476
5,175
665,099
7,000
672,099
612,664
Total 2024
589,845
22,819
612.664
11.
Support costs
Raising Gharitable
funds
activities
2026
Total
funds
2025
Total
funds
2024
2025
Printing, postage. stationery and lelephone
IT and equipmgnt
Personnel, professional 106$ and training
Travel and subsistence
Repairs and mainlgnan¢e
General office costs, including utilities
17.882
13,319
3.408
4,453
2.885
17.992
39.803
29.647
7,584
9.910
6.420
40,047
57.685
42,966
10,992
14.363
9,306
58.039
55,958
46,837
10,528
10.698
8,467
58.406
59,939
133.411
193,350
190,894
Total 2024
59.177
131,717
190,894
The support costs hove been apportioned on the basis of staff costs.
39

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
Supporting your MS journey
Notes to the Financial Statements
For the Year Ended 31 December 2025
12.
Auditor's remuneration
2025
2024
Fees payablo to the charills auditor for the audit of the tharitys annual
accounts
5,475
5,175
Fees payable to the charitls auditor in respect of-
All non-audil $gNlce$ not Indudèd above
1.783
2.161
13.
Stoff costs
2025
2024
Wages and salaries
Social security costs
Contribution to dèflned contribution pension schemes
543,706
53.256
12.037
552,899
47.664
12.313
608,999
612.876
The avgrag9 number of persons employed by the tharity during the year was as follows..
2025
No.
2024
No.
Charitable activities
Cost of generating funds
Management and administration of the charity
10
io
19
19
Thg numb8r of gmploy99s whos6 employeo b•nofits (oxcluding employer pension costs) gxwded
£60.000 was:
2025
No.
2024
In the band £60.001- £70.000
The senior management team received remuneralion totslling £213,252 {2024 '. £245.8941.

Multiple Sclerosis-UK Limited
(Acompany limited by guarantee)
IMS-UK
Supporting your MS journey
Notes to the Flnancial Statements
For the Year Ended 31 December 2025
14.
Trustees, remuneratlon and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 December 2025, no Trustee expenses have been
incurred {2024 - £NIL).
15.
Tangible fixed assets
Fixtures and
fittings
Olfice
equipment
Total
Cost or valuation
At 1 January 2025
Additions
Disposals
16,756
360
16,764)
35,352
26,537
125,9091
52.108
26,897
(31,663)
At 31 December 2025
11,362
35,980
47,342
Depreciation
At l January 2025
Charge for the year
On dispos81$
14.091
647
25,832
4,903
120,807}
39,923
5.550
126.2511
15,4441
At 31 Decgmbor 2025
9,294
9,928
19.222
Net book value
At 31 December 2025
2,068
26.052
28,120
At 31 December 2024
2,665
9,520
12,185
41

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
IMS-UK
Supporting your MS journey
Notes to the Financial Statements
For the Year Ended 31 December 2025
16.
Debtors
2025
2024
Due after more than one year
Prepaymonls and accrued income
27.203
27.203
Due wlthin one year
Trade debtors
Other debtors
PrepayTn8nts and accrued income
Tax recoverable
4.725
98
174,142
1.033
3.007
98
114,211
1,925
207,201
119.241
17.
Current asset Investments
2025
2024
Balances held on deposit
528.254
408,032
18.
Creditors: Amounts falling due within one year
2025
2024
Trade creditors
Other creditors
A¢¢rual$ and do1orr•d in¢ome
5,058
1.060
7,759
70.687
1.863
6,996
13,877
79,546

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Notes to the Financial Statements
For the Year Ended 31 December 2025
19.
Flnanclal instruments
2025
2024
Financial assets
Financial assets measured at transadion prirg
5.758
5.030
2025
2024
Financial liabilitle$
Financial liabilitigs mea$ured at transaction price
6.118
72,550
Flnancial assets measured at fair value through income and expenditure comprise dgbtors and sundry
debtors.
Financial liabillties measured at fair value through inwmg and 8xpenditure comprise trade creditors,
others creditors and bank loans.
20. Prlor year adjustments
In the current year, it was identified that donations in kind for services were not
correctly being disclosed within the accounts. A prior year adjustment has been
made to the comparatives totalling £86,898, to correctly recognise the deemed
income and expenditure value in the Statement of Financial Activities. reflecting
the donation in kind received from the 'Google Ads Grant. _ which essentially
provides free Google advertising for the charity. The prior yeor adjustment as no
effect on the funds carried forward, and purely increases income and expenditure
by the same value for disclosure purposes.

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
- MS-UK,
Supportlng your MS journey
Notes to the Financial Statements
For the Year Ended 31 December 2025
21.
Statement of funds
Statement of funds - current year
Balance at
31
December
2025
Balance at 1
January
2025
Income Expenditure
General funds
General Funds- all fvnds
646.793
1.604.114 11.037,834)
1,113.073
Endowment funds
Endowment Funds- all funds
236.802
980
237,782
Restricted funds
other Rgstrithd Funds
Googlg Ad Grants
The Big Give
12.000
73,924
11,874
17.000)
173.924)
s.ooo
11.874
97,798
(80.924)
16.874
Total of fund$
883,595
1,602.892
(1.118,768) 1.367,729
The Edward Gostling Endowment Fund is to support core services and activities
and can be utilised to mointain general reserves at the desired level of six months
operating costs as is necessary per the choritable company reserves policy.
Other restricted funds were all to support helpline and online octivities and were
used to support the running of these key services.
The Google Ads Grant reflects the benefit of the deemed income received and
ossociated costs covered.
The Big Give was fundraising close to the year-end specifically to support
helpline se￿iceS.

Multiple Sclerosis-UK Limited
(A company Ilmlted by guarantee)
MS-UK
Supporting your MS journey
Notes to the Financlal Statements
For the Year Ended 31 December 2025
21.
Statement of funds (continued)
Statement of funds - prioryeor
Balance al
31
December
2024
Balance al
l January As rgstated As r8Stat8d
2024
Income Expenditure
Transfers
in/out
Uniestricted designated
funds
D•signated Funds- all funds
400,000
{400,000)
General funds
General Funds- all fund5
294, 761
952,591
(1,000,559)
400,000
646, 793
Total Unrestricted funds
694. 761
952,591
(1,000.559)
646, 793
Endowment funds
The Edward Gostling Fund
236,802
236.802
Restricted funds
The Big Give Helplin8
The Light Fund
Other Restricted Funds
Googl? Ad Grants
2,819
5.000
(2,819)
(5,OOOJ
(15,000)
{86.898J
15,000
86.898
7.819
101.898
(109. 717J
Total of fund$
702.580
1,291,291
(1,110.276)
883,595

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your Msjourney
Notes to the Financial Statements
For the Year Ended 31 December 2025
22.
Summory offunds
Summary of funds - current year
Balance at
31
December
2025
Balance at 1
January
2025
Income Expenditure
General funds
Endowment funds
646,793
236,802
1,504,114 (1,037.834) 1,113,073
980
237,782
97,798
16,874
R•stricted funds
180,924)
883.596
1.602.892 (1.118.758)
1,367,729
Summary ol funds - prior year
88lanc8 •1
31
December
2024
Balance at
l January As restated As restoted
2024
Income Expenditurg
Tran¥fers
in/out
Dgsignated funds
Goneral funds
Endowment funds
Restridèd funds
400,000
294, 761
(400,OOOJ
400,000
952,591
236.802
101,898
(1,000,559)
646, 793
236.a02
T,8q9
(t09.717)
702.580
1.291.291
(1, 110.276)
883.595

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Notes to the Flnancial Statements
For the Year Ended 31 December 2025
23. Analysls of net ossets between funds
Analysis of net QS5ets between funds - current yeor
End0￿￿ent Restricted Unrestrided
fvnd$
funds
funds
2026
2025
2025
Total
funds
2025
Tangible fixed as5els
Deblors due aftgr morè than one year
Curr9nt assets
Creditors due within one year
28,120
27,203
1.071,627
113,8771
28.120
27.203
1,326,283
(13,877)
237,782
16.874
Total
237,782
16.874
1.113.073
1,367,729
Analysi5 of net assets between funds - prioryear
Endowment Unrestricted
funds
fund$
2024
2024
Total
funds
2024
Tangible fixed assets
Currgnl assèts
Cmditors due within ong year
12. 185
714. 154
(79,546)
12,185
950,956
(79,546)
236.802
Total
236,802
646, T93
883,595
4*.

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
IIMS-UK
Supportin9 your Msjourney
Notes to the Financial Statements
For the Year Ended 31 December 2025
24. Reconcillation of net movement in funds to net ¢a$h flow from operating activities
2025
2024
Net income for the year (as per Statement of Financial Activities)
484,134
181.015
Adjustments for:
Depreciation charges
Interest received
{Profitll Loss on disposal of fixed assets
{In¢r9asellDgGr9asg in debtors
IncreasellDecrease) in creditors
5,550
134,349)
5,412
{87.960)
165,667)
4.041
(25.002)
(36,878)
20.126
Net cash Provided by operating activities
307,120
143.302
25. Analysis of cash and cosh equivalents
2025
2024
Cash in hand
Notice deposits Iovgr 3 moDth$l
618.031
628,254
423.683
408,032
Total cash and cash equivalents
1,146,285
831, 715
26. Analysis of changes In net debt
At31
December
2025
January
2025 Cash flows
Ca$h al bank and in hand
Liquid investments
423.683
408,032
194.348
120.222
618,031
628.254
831.715
314,570
1.146,286

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
MS-UK
Supporting your MS journey
Notes to the Financial Statements
For the Year Ended 31 December 2025
27.
Pension commitments
The charitable company operates a defined contribution pension scheme. The
assets of the scheme are held separately from those of the charitable company
in an independently administered fund. The pension cost chorge represents
contributions payable by the charitable company to the fund during the year and
amounted to £12,037 (2024 - £12.314). At the year-end date there were no
outstanding liabilities (2024 - £2,595) due to the fund, included within creditors.
28. Operating lease commitments
At 31 December 2025 the charity had commitments to make future minimum lease
payments under non-concellable operating leases as follows:
2025
2024
Not latèr than l year
Lalgr than 1 year and not later than 5 years
34,565
54,430
34,565
88,995
88,995
123.560
29. Company Ilmlted by guarantee
The company is limited by guarantee without share capital. The liability of the
members is limited.
Every member of the choritable company undertakes to contribute to the assets of
the charitoble company in the event of the charitable company being wound up
while they are a member, or within one year after they cease to be a member, for
payment of the debts and liabilities of the charitable company contracted before
they cease to be a member and of the costs, charges and expenses of winding up
and for the adjustment of the rights of the contributories among themselves, such as
may be required not exceeding £10.
If upon the winding-up or dissolution of the charitable company there remains,
after the satisfaction of all debts and liabilities, any property whatsoever, the sum
shall not be paid to or distributed among the members of the charitable company,
but shall be given or transferred to some other charitable institution or institutions
having objects similar to the objects of the charitable company and which shall
prohibit the distribution of its or their income and property to any extent at least
as great as is imposed on the company under or by virtue the Memorandum and
Articles of Association.

Multiple Sclerosis-UK Limited
(A company limited by guarantee)
IMS-UK
Supporting your MS journey
Notes to th• Financial Statements
For th• Year Ended 31 December 2025
30. Related party transactrons
The charity has not entered into any related party transaction during the year, nor
are there any outstonding bolonces owing between reloted parties and the charity
at 31 December 2025.
During the previous year the choritable company reimbursed Philip Stortin, a trustee
who resigned during this financial year, for the provision of free of charge online
courses, for his expenses totalling £870. At the previous year-end dote there was
£435 outstanding to Philip Startin and this was shown within trade creditors.