Company no. 03005230 Charity no. 1043280
M. S. Research Treatment and Education Limited
Report and Unaudited Financial Statements
31 March 2024
M. S. Research Treatment and Education Limited
Reference and administrative details
| For theyear ended 31 | March 2024 | |
|---|---|---|
| Company number | 03005230 | |
| Charity number | 1043280 | |
| Registered office and | The Vassall Centre | |
| operational address | Gill Avenue | |
| Fishponds | ||
| Bristol | ||
| BS16 2QQ | ||
| Trustees | Trustees, who are also directors under company law, who served during | |
| the year and up to the date | of this report were as follows: | |
| Ben Clacy | Company Secretary and Interim Chair | |
| Philippa Cotton-Zaum | Appointed 09 June 2023 | |
| Resigned 03 October 2023 | ||
| Ropafadzo Pearl Gore | Appointed 26 July 2023 | |
| Resigned 22 November 2023 | ||
| Sarah Joiner | Appointed 4 November 2024 | |
| Brian Pagington | Resigned 4 November 2024 | |
| Olga Pagington | Resigned 4 November 2024 | |
| Laurence Robb | Resigned 10 September 2023 | |
| Neil Sood | Appointed 19 May 2023 | |
| Resigned 4 November 2024 | ||
| Christine Singleton | Appointed 4 November 2024 | |
| Bankers | CAF Bank Ltd | National Westminster Bank Plc |
| 25 Kings Hill Avenue | PO Box 30038 | |
| Kings Hill | Victoria Street | |
| West Malling | London | |
| ME19 4JO | SW1H 0H | |
| Independent | Godfrey Wilson Limited | |
| examiners | Chartered accountants and | statutory auditors |
| 5th Floor Mariner House | ||
| 62 Prince Street | ||
| Bristol | ||
| BS1 4QD |
1
M. S. Research Treatment and Education Limited
Report of the trustees
For the year ended 31 March 2024
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).
1. Governance and structure
The organisation is a company limited by guarantee, incorporated on 23 December 1994 and is governed by its Memorandum and Articles of Association. The company was registered with the Charity Commission on 12 January 1995. Since 2013, it has operated from offices at the Vassall Centre in Bristol, a barrier free workspace initially set up as a not-for-profit social concern in disused hospital buildings that is fully accessible to people who have disability.
2. Achievements and performance
Objectives and activities
The Charity has referred to the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives during this unusual time. This particularly includes seeking to make advice and patient support more readily available on-line to reach a wider audience of those who have Multiple Sclerosis (MS) and those who care for them by extending the advice available on MS and on the progress of clinical developments during the pandemic and beyond.
The focus of MS Research remains provision of grant funding for research projects and programmes that aim to advance the treatment and management of the condition. The charity also supports further development of some successful treatment strategies beyond the research phase, providing “real world” evidence to support the aims of promoting new treatment modalities and better treatment strategies for people who have MS.
Our focus during the year on research going forward meant a new process for approving grants was introduced with more rigour around the process itself and a panel to review grant applications.
From this we approved one new grant with the first window of grant applications. The second window provided further applications of which any successful applications will fall in the next financial year.
Status of approved research projects during 2023-2024
Dr Sarah Thomas in the amount of £50,629 for FACETS digital toolkit: extending its reach and piloting (the Project). The intended start date for this Project was 1 September 2023 for a term of 12 months.
3. Financial review
Reserves policy
In the past our policy on managing reserves has been two-fold, committed funds and contingency reserves, as detailed below.
- To keep in hand a sum of money to enable the completion of on-going research studies, or to initiate new studies with appropriate funds in hand to ensure there are no delays in starting or funding approved new research studies or to continue essential treatment and education programmes to the end of a financial year. These are referred to as committed funds.
2
M. S. Research Treatment and Education Limited
Report of the trustees
For the year ended 31 March 2024
- Contingency reserves are to enable a basic office service to continue with the aim of promoting recovery or other actions as needed in the case of income failure. A contingency fund of £65,000 was agreed for skeleton office staffing, essential running costs and rent to ensure time for recovery in the case of the forced ongoing disruption of income due to the pandemic in 2020 and beyond.
In preparation for the merger with MS Trust, outlined later in this report, these reserves were combined with general reserves in the year.
Our current reserves sit significantly beyond our policy due to high levels of fundraising over the last three years.
Although for the saddest of reasons, our income was significantly boosted by several large donations arising from legacies. Interim payments of £14,484 on 30 August 2023, £98,320 on 31 October 2023 and £5,000 on 22 December 2023 were received and notification of a further three legacies was received during 2023 - 2024.
Our income for the year ending 31 March 2024 was £188,962 (2023: £222,025), expenditure £144,568 (2023: £75,985), leaving a surplus of £44,394 (2023:£146,040). Trustee expenses during 2023-2024 amounted to £375 of approved travel expenses.
Post balance sheet events
MS Research began conversations with fellow MS charity The MS Trust* regarding working collaboratively in the future.
It became clear that the MS Trust had a keen interest in research and that the two charities would be stronger together. At a meeting with representatives of both parties, a merger between the parties was agreed in principle, subject to due diligence, with the overriding objective of providing the best outcomes for people with Multiple Sclerosis, particularly in the areas of research and education, and in furtherance of the charitable purposes of both parties.
Both parties sought legal advice to protect existing interests and ensure that our newly combined charity would adhere to the Objects agreed by both parties to ensure compatibility. The merger was completed on 4 November 2024 and Ben Clacy joined the Board of the MS Trust on this date. All staff and existing commitments were carried over on 4 November 2024.
*Multiple Sclerosis Trust (“MS Trust”), registered charity no. 1088353 and a company limited by guarantee, registered in England and Wales no. 4247766, registered office: Spirella Building, Letchworth Garden City, SG6 4ET.
Statement of responsibilities of the trustees
The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
3
M. S. Research Treatment and Education Limited
Report of the trustees
For the year ended 31 March 2024
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those 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;
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
Independent examiners
Godfrey Wilson Limited were re-appointed as independent examiners to the charitable company during the year and have expressed their willingness to continue in that capacity.
Approved by the trustees on 19 December 2024 and signed on their behalf by
Ben Clacy - Interim Chair
4
Independent examiner's report
To the trustees of
M. S. Research Treatment and Education Limited
I report to the trustees on my examination of the accounts of M. S. Research Treatment and Education Limited (the charitable company) for the year ended 31 March 2024, which are set out on pages 6 to 17.
Responsibilities and basis of report
As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
(1) accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
-
(2) the accounts do not accord with those records; or
-
(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
-
(4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
William Guy Blake
Date: 19 December 2024 William Guy Blake ACA Member of the ICAEW For and on behalf of: Godfrey Wilson Limited
Chartered accountants and statutory auditors 5th Floor Mariner House
62 Prince Street Bristol BS1 4QD
5
M. S. Research Treatment and Education Limited
Statement of financial activities (incorporating an income and expenditure account)
For the year ended 31 March 2024
| Restricted Unrestricted Note £ £ Income from: Donations and legacies 2 - 186,499 Investments - 2,463 Total income - 188,962 Expenditure on: Raising funds - 16,977 Charitable activities - 127,591 Total expenditure 4 - 144,568 Net income 7 - 44,394 Transfers between funds - - Net movement in funds - 44,394 Reconciliation of funds: Total funds brought forward 500 1,051,168 Total funds carried forward 500 1,095,562 |
2024 Total £ 186,499 2,463 188,962 16,977 127,591 144,568 44,394 - 44,394 1,051,668 1,096,062 |
2023 Total £ 220,611 1,414 222,025 22,105 53,820 75,925 146,100 - 146,100 905,568 1,051,668 |
|---|---|---|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 14 to the accounts.
All income and expenditure in the prior period was unrestricted.
6
M. S. Research Treatment and Education Limited
Balance sheet
As at 31 March 2024
| Note Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand |
£ 3,937 1,101,912 |
2024 £ - |
2023 £ - 16,837 1,039,528 |
|---|---|---|---|
| Liabilities Creditors: amounts falling due within 1 year 12 |
1,105,849 (9,787) |
1,056,365 (4,697) |
|
| Net current assets | 1,096,062 | 1,051,668 | |
| Net assets 13 |
1,096,062 | 1,051,668 | |
| Funds 14 Restricted funds Unrestricted funds Designated funds General funds |
500 - 1,095,562 |
500 79,000 972,168 |
|
| Total charity funds | 1,096,062 | 1,051,668 |
The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.
The directors acknowledge their responsibilities for:
-
(i) ensuring that the Company keeps proper accounting records which comply with section 386 of the Act; and
-
(ii) preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.
Approved by the trustees on 19 December 2024 and signed on their behalf by
Ben Clacy - Interim Chair
7
M. S. Research Treatment and Education Limited
Notes to the financial statements
For the year ended 31 March 2024
1. Accounting policies
a) Basis of preparation
M. S. Research Treatment and Education Limited is a charitable company registered in England and Wales. The registered office address is The Vassal Centre, Gill Avenue, Fishponds, Bristol, BS16 2QQ.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
M. S. Research Treatment and Education 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 notes.
b) Going concern basis of accounting
The accounts have been prepared on the assumption that the charity is able to continue as a going concern which the trustees consider appropriate as on 4 November 2024 its assets and activities were transferred in full to Multiple Sclerosis Trust; a registered charity no. 1088353 and a company limited by guarantee, registered in England and Wales no. 4247766. The charity will remain open for the collection of notified legacies.
c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executors to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probably when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have been met, then the legacy is treated as a contingent asset and disclosed if material.
8
M. S. Research Treatment and Education Limited
Notes to the financial statements
For the year ended 31 March 2024
1. Accounting policies (continued)
d) Donated services and facilities
- Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
e) Interest receivable
- 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 bank.
f) Funds accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
g) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
h) Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities on the following basis, being the respective proportion of total costs:
| 2024 | 2023 | |
|---|---|---|
| Raising funds | 12% | 29% |
| Charitable activities | 88% | 71% |
9
M. S. Research Treatment and Education Limited
Notes to the financial statements
For the year ended 31 March 2024
1. Accounting policies (continued)
i) Grants payable
Grants which have been authorised and paid are included as expenditure in the Statement of Financial Activities. Grants which have been authorised but not yet paid are accrued in the balance sheet and are included within creditors falling due within one year or after one year (as appropriate).
j) Tangible fixed assets
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: Computer equipment 4 years
Items of equipment are capitalised where the purchase price exceeds £1,000.
k) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
l) Cash at bank and in hand
Cash at bank and cash 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.
m) Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
n) Pension costs
The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.
o) Accounting estimates and key judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.
10
M. S. Research Treatment and Education Limited
Notes to the financial statements
For the year ended 31 March 2024
2. Income from donations and legacies
| Donations from online platforms Donations from purchasing partners Regular donations One-off donations Legacies In memoriam Total income from donations and legacies |
2024 Total £ 499 625 11,199 17,538 156,638 - 186,499 |
2023 Total £ 6,721 130 11,331 12,803 180,156 9,470 220,611 |
|---|---|---|
Income from donations and legacies in both the current and prior period was fully unrestricted.
3. Government grants
The charity received no government grants in the current or prior period.
4. Total expenditure
| Grants payable (note 5) Staff costs (note 8) Online platform fees Fundraising event costs Premises costs Office running costs Accountancy Bank charges Travel and subsistence Depreciation Legal and professional Sub-total Allocation of support and governance costs Total expenditure |
Raising funds £ - 8,786 72 477 - - - - - - - 9,335 7,642 16,977 |
Charitable activities £ £ 50,629 - 18,816 21,173 - - - - - 10,967 - 11,375 - 3,480 - 143 713 - - - - 17,937 70,158 65,075 57,433 (65,075) 127,591 - Support and governance costs |
2024 Total £ 50,629 48,775 72 477 10,967 11,375 3,480 143 713 - 17,937 144,568 - 144,568 |
|---|---|---|---|
Total governance costs in the period were £20,952 (2023: £2,676).
11
M. S. Research Treatment and Education Limited
Notes to the financial statements
For the year ended 31 March 2024
| 4. Total expenditure (continued) Prior period comparative Raising funds £ £ £ Grants payable (note 5) - 6,642 - Staff costs (note 8) 8,271 16,331 19,920 Online platform fees 324 - - Fundraising event costs 925 - - Premises costs - - 10,135 Office running costs - - 9,184 Accountancy - - 3,440 Bank charges - - 264 Travel and subsistence - 185 - Depreciation - - 304 Sub-total 9,520 23,158 43,247 Allocation of support and governance costs 12,585 30,662 (43,247) Total expenditure 22,105 53,820 - 5. Grants payable Grants made during the year were as follows: 2024 £ Grants to organisations: University of Bournemouth 50,629 North Bristol NHS - Grants to individuals: In 2023 research and education grants were made to 1 individual - 50,629 6. Grant commitments 2024 £ Grants payable: Grant commitments brought forward - Grants committed to during the period 50,629 Grants paid during the period (50,629) Grant commitments carried forward - Support and governance costs Charitable activities |
2023 Total £ 6,642 44,522 324 925 10,135 9,184 3,440 264 185 304 75,925 - 75,925 2023 £ - 5,452 1,190 6,642 2023 £ 878 6,642 (7,520) - |
|---|---|
12
M. S. Research Treatment and Education Limited
Notes to the financial statements
For the year ended 31 March 2024
7. Net movement in funds
This is stated after charging:
| Depreciation Operating lease payments Trustees' remuneration Trustees' reimbursed expenses Independent examiner's remuneration (excluding VAT) |
2024 £ Nil 9,511 Nil 375 2,300 |
2023 £ 305 9,511 Nil 36 2,200 |
|---|---|---|
Trustees reimbursed expenses relate to travel costs to attend trustee meetings for 3 trustees during the year (2023: 1)
8. Staff costs and numbers
Staff costs were as follows:
| Salaries and wages Pension costs |
2024 £ 47,555 1,219 48,774 |
2023 £ 43,352 1,170 44,522 |
|---|---|---|
No employee earned more than £60,000 during the current or prior year.
The key management personnel of the charitable company comprise the trustees and Fund Development Manager. The total employee benefits of the key management personnel were £30,460 (2023: £28,464).
| Average head count | 2024 No. 4 |
2023 No. 3 |
|---|---|---|
9. Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
13
M. S. Research Treatment and Education Limited
Notes to the financial statements
For the year ended 31 March 2024
10. Tangible fixed assets
| Cost At 1 April 2023 Disposals At 31 March 2024 Depreciation At 1 April 2023 On disposals At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 11. Debtors Prepayments Accrued income Other debtors 12. Creditors : amounts due within 1 year Trade creditors Grants payable (note 6) Accruals Pension |
£ £ 1,219 1,705 (1,219) (1,705) - - 1,219 1,705 (1,219) (1,705) - - - - - - 2024 £ 493 - 3,444 3,937 2024 £ 5,407 - 4,185 195 9,787 Computer equipment Fixtures and fittings |
Total £ 2,924 (2,924) - 2,924 (2,924) - - - 2023 £ 1,179 14,485 1,173 16,837 2023 £ 1,071 - 3,417 209 4,697 |
|---|---|---|
14
M. S. Research Treatment and Education Limited
Notes to the financial statements
For the year ended 31 March 2024
13. Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Net assets at 31 March 2024 Prior year comparative Tangible fixed assets Current assets Current liabilities Net assets at 31 March 2023 |
£ - 500 - 500 £ - 500 - 500 Restricted funds Restricted funds |
£ - - - - £ - 79,000 - 79,000 Designated funds Designated funds |
£ - 1,105,349 (9,787) 1,095,562 £ - 976,865 (4,697) 972,168 General funds General funds |
Total funds £ - 1,105,849 (9,787) 1,096,062 Total funds £ - 1,056,365 (4,697) 1,051,668 |
|---|---|---|---|---|
15
M. S. Research Treatment and Education Limited
Notes to the financial statements
For the year ended 31 March 2024
14. Movements in funds
| Restricted funds British Science Week Grant Total restricted funds Designated funds: Contingency fund Future projects & growth Total designated funds General funds Total unrestricted funds Total funds Unrestricted funds |
At 1 April 2023 £ 500 500 65,000 14,000 79,000 972,168 1,051,168 1,051,668 |
Income £ - - - - - 188,962 188,962 188,962 |
£ - - - - - (144,568) (144,568) (144,568) Expenditure |
Transfers between funds £ £ - 500 - 500 (65,000) - (14,000) - (79,000) - 79,000 1,095,562 - 1,095,562 - 1,096,062 At 31 March 2024 |
|---|---|---|---|---|
Purposes of restricted funds British Science Week To fully fund a Digesting Science event to educate children and families Grant who are directly affected by a family member living with MS.
The Hollister To fully fund or contribute to medical research to benefit those living Research Fund with MS.
Purposes of designated funds
Contingency fund
Represents money held in a reserve account in case of an unexpected shortfall between income and expenditure in future years.
Future projects & growth Represents funds set aside for future projects and charity growth.
Purposes of transfers
The contingency and future projects funds have been transferred to general funds ahead of the merger with MS Trust.
16
M. S. Research Treatment and Education Limited
Notes to the financial statements
For the year ended 31 March 2024
14. Movements in funds (continued) Prior period comparative
| Prior period comparative Restricted funds British Science Week Grant The Hollister Research Fund Total restricted funds Designated funds: Contingency fund Future projects & growth Total designated funds General funds Total unrestricted funds Total funds Unrestricted funds |
At 1 April 2022 £ 500 10,000 10,500 65,000 14,000 79,000 816,068 895,068 905,568 |
Income £ - - - - - - 222,025 222,025 222,025 |
£ - - - - - - (75,925) (75,925) (75,925) Expenditure |
Transfers between funds £ £ - 500 (10,000) - (10,000) 500 - 65,000 - 14,000 - 79,000 10,000 972,168 10,000 1,051,168 - 1,051,668 At 31 March 2023 |
|---|---|---|---|---|
15. Operating lease commitments
The charity had operating leases at the year end with total future minimum lease payments as follows:
| Amount falling due: Within 1 year Within 1 - 5 years |
2024 £ 2,378 - 2,378 |
2023 £ 9,474 - 9,474 |
|---|---|---|
16. Related party transactions
There were no related party transactions during the current or prior period.
17. Post balance sheet events
As outlined in the trustees' annual report, M. S. Research Treatment and Education Limited transferred all of its assets and activities to MS Trust on 4 November 2024.
Multiple Sclerosis Trust (“MS Trust”), is a registered charity no. 1088353 and a company limited by guarantee, registered in England and Wales no. 4247766,
17