REGISTERED COMPANY NUMBER: 03031662 (England and Wales) REGISTERED CHARITY NUMBER: 1047353
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 March 2025
for
Swindon Therapy Centre for Multiple Sclerosis Trading as Neuro Wellbeing Centre
Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
Swindon Therapy Centre for Multiple Sclerosis Trading as Neuro Wellbeing Centre
Contents of the Financial Statements for the Year Ended 31 March 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 7 |
| Independent Examiner's Report | 8 | ||
| Statement of Financial Activities | 9 | ||
| Balance Sheet | 10 | to | 11 |
| Notes to the Financial Statements | 12 | to | 19 |
Swindon Therapy Centre for Multiple Sclerosis (Registered number: 03031662) Trading as Neuro Wellbeing Centre
Report of the Trustees for the Year Ended 31 March 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity delivers benefit to service users using the name of 'The Neuro Wellbeing Centre', an identity which reflects the diverse range of conditions for which relief is provided. It is governed by its Memorandum and Articles of Association and aims to promote the relief of persons who live with neurological conditions, by any lawful means, and in particular:
I. to provide wellbeing treatments, guidance and practical support to those living with neurological conditions. II. to provide therapy (including but not limited to high dosage oxygen therapy (HDOT)).
Significant activities
To ensure that the charitable company's aims are met, it has a general policy to bring together those living with neurological conditions to form a service-user-based community in which help delivered by the Wellbeing Centre, and self-help enabled by a supportive community of staff, volunteers, and service-users improves the quality of life for everyone in that community.
The Charitable Company equips and administers a "Centre" (Bradbury House) for the provision of therapy for any person or body, and funds this by requesting membership contributions together with fundraising events, general donations and grant funding, supplied by a wide range of grant making organisations.
There have been no material changes in these policies since the last report.
Public benefit
The trustees are satisfied that the Charity's stated objective falls within the category "advancement of health" which is set out in the Charities Act 2011. The Charity meets this objective through lawful means as described previously.
The trustees have complied with the Charities Act 2011 and their duty to 'have regard' to public benefit guidance provided by the Charity Commission when exercising powers or duties to which guidance is relevant.
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Swindon Therapy Centre for Multiple Sclerosis (Registered number: 03031662) Trading as Neuro Wellbeing Centre
Report of the Trustees for the Year Ended 31 March 2025
ACHIEVEMENTS AND PERFORMANCE
"Because I can feel the results and it's such a nice vibrant environment, it's really helped me to maintain a fitness regime that I'm happy with and benefitting from. And it's affordable too. I actually look forward to going there. The whole team have time for everyone and that gives us all a lift and often a laugh!" Service User, Ian
Delivery against charitable objects
The charitable company continued to deliver against its objective of providing a range of therapies, support, and advice to those living with neurological conditions, their families, and carers and to other people who can benefit from the support which it provides. Constantly striving to "Make Today a Good Day" and, yes, often having a laugh together with our inspirational beneficiaries.
The Charity delivered therapies and services during the reporting period through the tireless efforts of a small part-time staff team, supplemented by other (contracted, self-employed) specialist providers. Alongside paid staff and contractors, the charity again continued to benefit from the selfless and inspirational support of a (growing as the year progressed) team of volunteers.
Volunteers
As the year began, we were benefiting from the support of a team of 18 volunteers. By the end of the period, this team had grown in number to 24 (a 33% increase). On average across the year, this group provided the charity with 80 volunteer hours of vital support per week (4,160 volunteer hours over the full period) covering operation of the oxygen chambers, being the welcoming first encounter for all using the Centre in the reception area and providing additional care for attending service-users.
Without these volunteers, we would still have needed to cover the activities which they undertook and would therefore have needed to employ further paid staff or contractors. Whilst one method of estimating the financial value of our volunteers would be to apply a 'market pay rate' to each of the roles they performed for us, we prefer to use the more conservative 'minimum wage' method for calculating value. Had our volunteers all been paid the minimum wage hourly rate applicable for this period, uplifted by 15% to include overheads, then the total cost to the charity would have been 4,160 hours x £13.16 per hour = £54,746.
The true value of our amazing volunteers, though, is far in excess of any calculated 'financial benefit'. Their dedication, compassion, integrity and hard work are attributes which add huge value far beyond any calculated 'avoided cost' benefit of their work. The trustees, who are also all volunteers, wish to record their sincere and grateful thanks to all occasional and regular volunteers (new, as well as longstanding) who so willingly donated their time and service to our charity during the year. Their support has once again been an inspiration, and they have individually and collectively ensured that the charity is able to provide vital care and support and will continue to be able to do so for the foreseeable future.
Continued support from the business community
In addition to the volunteers who help with day-to-day running of the Centre, we also continued to benefit from support provided by the local business community. Scottish Widows provided a volunteer team to help with the grounds adjoining our car park, and their makeover of our garden and car-parking area was greatly appreciated by all attending the Centre. Zurich Community Trust continued to help us to deliver key social events through their "Challenge" programme, with two teams of Zurich staff volunteers organising and funding elements of our summer and Christmas parties, which were attended by more than 120 service users and volunteers.
The Centre benefitted from the services of local independent tradesmen, Keith Sage, who replaced the floor tiles in our kitchen area free of charge, and Neville Bishop who also provided pro-bono services to remove a faulty hand-dryer and worn window coverings. In addition, Apex Cleaning & Maintenance provided free jet washing services to ensure the safety of our Centre entrance and Incite IT donated free IT support, when required.
Again, there is financial benefit to these 'free' events and services, but there is also the gift of belief and hope which comes with such work. Belief, in that all associated with the Centre can see that businesses wish to support the work that we do. And hope, in that against a background of increasingly divisive narrative about 'business' in local and national media, there is still a philanthropic heart to the commercial sector. The trustees remain grateful for and inspired by this kind of support and send heartfelt thanks to all who continue to support us.
One team, common purpose, common goals
The trustees were delighted, during the early part of 2025, to confirm Debi Isaac-Taylor's appointment to the role of permanent CEO of the charity. Debi had been acting as 'interim CEO' since the departure of the previous CEO in November 2023, and throughout 2024 had undertaken methodical and outstandingly high-quality work to review, refine and significantly improve many aspects of our operational procedures, processes and delivery inputs and outcomes of the work of the charity.
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Swindon Therapy Centre for Multiple Sclerosis (Registered number: 03031662) Trading as Neuro Wellbeing Centre
Report of the Trustees for the Year Ended 31 March 2025
Along with her excellent staff team, supported by a further complement of highly skilled contractors, and the volunteers mentioned above, the needs and expectations of those seeking our support continued to be front of mind.
There were two departures from the staff team during September of 2024. Carol Lawrence our lead neuro-physio took early retirement and Abi Jones, our neuro-physio assistant, decided to pursue different opportunities.
Given the specialised nature of neuro-physio activity and in a highly competitive recruitment environment, recruiting successors for Carol and Abi took time. Whilst we undertook our search, we made the difficult but necessary decision to temporarily close the gym for, what turned out to be, a period of 5 months.
During that time, our brilliant team of exercise specialists offered increased capacity, service users who had previously used the gym supported that and continued to benefit from regular exercise, and we saw a 20% uplift in class attendance for the gym closure period.
After a long and careful search, we were delighted to welcome Lovish Gupta to the team in February 2025. After just one month, his impact restored gym attendance levels to where they had previously been and quickly started to grow the number of therapies delivered.
"The work and help that Lovish, the physio, provides is second to none. He's incredibly knowledgeable, and he pushes me to my comfort level and then a little bit more, which is great! I can now stand at the parallel bars without using my arms for support...which in itself is transformational. And it has given me the drive to keep pushing for more!
My achievements in the gym have given me new purpose and allowed me to set and achieve goals for myself; keeping me focussed on looking forward and not pondering the past. It's been a godsend; not only physically but also rebuilding my confidence, positivity and my ability to socialise with others who understand, because they're in a similar position." Service User, Jackie
Service delivery
The increased levels of attendance in our oxygen chambers which we had seen during the previous financial year were sustained and we delivered almost as many sessions during this year as last. Even without 5 months of delivery in the gym, total therapies, treatments and classes delivered during the year compared very favourably to the prior year.
| Therapy | 2024/25 | 2023/24 |
|---|---|---|
| Oxygen | 2,185 | 2,250 |
| Counselling | 80 | 67 |
| Gym/Exercise/Classes (Physio services) | 2,619 | 2,856 |
| Total Therapies | 4,884 | 5,173 |
| New enquires | 290 | 140 |
Of particular note here is that, despite the gym being closed for 42% of the year, to have seen only a 9% reduction in gym sessions delivered endorses a trajectory of improvement in raising awareness of the gym, alongside targeted scheduling and thus delivering more help to more service users.
We are also extremely optimistic about the very significant increase in new enquiries, showing that efforts to raise our profile and stimulate greater awareness of our offering is delivering results, and helping many more people, who may not have known about our service, to benefit from what we do.
Continuing improvements to facilities
We continued to protect and improve the viability (and safety) of our building with further upgrades and enhancements. We have deep cleaned carpets and toilet facilities and replaced the flooring in the kitchen area. In addition, we replaced marked ceiling tiles, installed a defibrillator, undertook long-awaited repairs and upgrades to CCTV systems, repaired and maintained the oxygen chambers and upgraded the fire alarm system and panel.
The trustees recognise the need to strike the right balance in the way that funds which we raise are used in order to deliver our objects and, of course, capital spending restricts the amount of those funds which we can devote to delivery of services and support to those who need them. But we also believe that ensuring the safety and wellbeing of all who use the Centre is paramount (see the commentary of key risks below). The trustees are satisfied with the balance in use of funds and remain confident that we are mitigating the physical risks associated with running a facility such as the Centre.
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Swindon Therapy Centre for Multiple Sclerosis (Registered number: 03031662) Trading as Neuro Wellbeing Centre
Report of the Trustees for the Year Ended 31 March 2025
FINANCIAL REVIEW
Financial position
The financial statements for the year show a deficit of £4,514 in the Statement of Financial Activities (SoFA). However, the charity has simultaneously achieved a cash flow surplus of £19,124, ending the period with a strong cash balance of £64,668. This difference between SoFA and cash flow outcomes is a normal result of charity accounting practices and does not indicate financial distress. The difference primarily arises from the distinction between accrual accounting (used for the SoFA) and cash accounting (reflected in our cash position).
SoFA Deficit : The SoFA reports income and expenditure when each are earned or committed, not necessarily when the cash changes hands. Our reported deficit in this first section of the accounts is largely due to the accounting requirements to:
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recognise depreciation charges on our capital assets,
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adhere to the required accounting treatment of loan capital and interest payments,
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ensure appropriate recognition of debtors and creditors,
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and allocation of some (capital) spend to fixed assets.
These are non-cash items and/or timing differences and do not affect the immediate cash available in our bank account.
Cash Flow Surplus : The strong cash position referred to above confirm that day-to-day operations have been managed effectively, with sufficient incoming cash from donations, grants and rental income to cover operational costs as they fell due. Cash flows for the financial year (and prior period) are shown here:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| INCOME | ||
| Donations (including gift aid reclaimed) | 83,082 | 72,095 |
| Legacies | 297 | 25,891 |
| Grants | 118,636 | 85,378 |
| Rental income | 34,238 | 24,873 |
| Other income | 58 | 1,324 |
| Interest | 754 | 757 |
| Total income | 237,065 | 210,318 |
| EXPENDITURE | ||
| Staff related costs | 128,468 | 182,198 |
| Other running costs | 88,723 | 83,648 |
| Project spend | 750 | 10,791 |
| Total expenditure | 217,941 | 276,637 |
| Net Income/Expenditure | 19,124 | (66,319) |
Overall income growth compared to the prior year, was 12.7%; donations increased by 15.2%, rental income by 37.7% and grant funding by 38.9%, with legacy income, where we had benefited from a generous and substantial gift of more than £25,000 during the prior year, being the only income category not to show significant growth.
Operational expenditure was £58,696 (21.2%) lower than the prior year, with the majority of this saving attributable to reduction in staff, contractor and associated staff-related costs (down by £53,730, 29.5% on last year).
The significantly improved out-turn (both in SoFA and cash flow terms) for the year ending 31st March 2025 reflects a sustained programme of activity undertaken by the CEO supported by the Trustee Board, focused on optimising income generation opportunities, maximising use of capital assets and controlling and containing expense.
A balanced approach to income generation
The charity does not receive any funding from local or central government, nor from the primary healthcare sector. We have always been, and remain, a self-funded charity and we are proud that we have been able to sustain the charity through some very tough recent years.
As can be seen from the cash flow table above, during 2024/25 we saw income arrive from three main sources:
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Donations, which accounted for 35% of income
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Grant funding, contributing 50% of income
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Rental income, delivering 14% of income
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Swindon Therapy Centre for Multiple Sclerosis (Registered number: 03031662) Trading as Neuro Wellbeing Centre
Report of the Trustees for the Year Ended 31 March 2025
Donations are made largely by those using our services (and in a few cases by those inspired by what we do and wanting to support us). Against a background of ongoing cost-of-living pressures, we were hugely grateful for the increase in donations made during the period compared to the prior year.
Rental income arises from the letting out of space which we do not use, and the growth here reflects the outcome of another of the improvement projects undertaken by the CEO.
Grant funding is an important foundation of our income generation strategy and grew during the period from 40% of income in the prior year to 50% this. This growth reflected sustained hard work by Debi and Sharon Tombs (an experienced and highly effective grant fundraiser who worked with us for most of this financial year) to compile and progress funding bids in an environment where the work needed to succeed is now far more extensive and complex than we have experienced in the past.
In summary: The Trustees remain confident in the charity's financial health. The cash surplus generated in the period and healthy cash-at-bank balances ensure that we have the necessary liquidity to meet our immediate obligations and support our planned activities in the coming year, while the SoFA deficit reported in the pages that follow is a technical accounting adjustment reflecting long-term commitments and asset management.
We have a clear reserves policy, which the trustees review regularly, and our current reserves are in line with this policy, providing resilience against potential risks.
Reserves policy
It is the view of the trustees that the level (value) of free reserves held at any one time must be very carefully calibrated and balanced.
On one hand, free reserves provide a prudent 'buffer' that enables continuing operation for a time if any of the risks described below crystalise. On the other hand, experience in recent years has shown that potential grant funders are deterred from approving grant requests if they see what they consider to be either unsustainably low or excessively large values of free reserves.
The trustees have identified four principal risks which, if crystalised, may challenge operational and/or financial security. These are as follows:
i. Contingency: unexpected expenditure in the event of an emergency,
ii. Cash-flow: situations where a bill must be paid before the money to cover it has been received,
iii. Commitment: a commitment to occasional significant expenditure which cannot be covered by the annual income, iv. Imminent Closure: the charity becomes financially unsustainable and must be wound down.
After careful consideration, and in the case of the first three of these four risks, the trustees do not earmark specific free reserves to mitigate the possibility that one or more may crystalise. This is because, in adopting regular and rigorous cash-flow management, forecasting and budgeting controls, suitable credit balances and/or contingency sources of funds (e.g. equity release from the substantial equity in the freehold premises owned by the Charity) will be maintained to enable such unexpected and very rare cost challenges to be met.
In the case of the (fourth) risk of 'imminent closure', the trustees believe that the value of free reserves held must provide sufficient value to cover 'wind down' running costs for a period of 3 months.
Reserves to be held for mitigation of imminent closure risk.
If there were no other choice than to wind down the Charity, most 'steady state' income would be maintained for the wind-up period. The committed cohort of unpaid volunteers who help with core-service delivery would enable the provision of services to beneficiaries to be managed in such a way as to sustain most throughout the wind-down period, thus ensuring a residual stream of service-user donations. Rental income, and other income, would also be sustained, as notice to tenants was served and worked through.
The level of expenditure would be managed down immediately and significantly. Staff costs would be reduced by retaining only essential salaried staff needed to ensure an orderly winding down of operations. Contract staff would be released, non-critical spend stopped and such assets as could be disposed of would be sold to realise further cash to cover run-down costs.
It is the view of the trustees, that the value of free-reserves needed to cover for this scenario would need to be £5,000 per month giving a free-reserve requirement of £15,000, which, as can be seen from the balance sheet, was exceeded by a substantial margin at year-end.
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Swindon Therapy Centre for Multiple Sclerosis (Registered number: 03031662) Trading as Neuro Wellbeing Centre
Report of the Trustees for the Year Ended 31 March 2025
FINANCIAL REVIEW
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the 'going concern' basis under the historical cost convention in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Legal structure
The Company was incorporated in England and Wales on 10th March 1995 and is limited by guarantee without share capital use of 'Limited' exemption, under Company number 03031662. It is a registered Charity under number 1047353 and operates under the name of "Neuro Wellbeing Centre".
Organisational structure and decision-making
A Trustee Board, consisting of appropriate officers and trustees, meets quarterly to oversee the strategic direction and implementation, change management and fundraising progress, and review the financial position, amongst other governance matters.
Trustee Induction and Training
The CEO and Chair are responsible for ensuring that new trustees are familiarised with the strategy, objectives, operational activities, resourcing and finances of the charity and with their duties as trustees by sharing Charity Commission guides and materials setting out duties and responsibilities of charity trustees.
Risk management
The trustees have assessed the major risks to which the Charity is exposed, particularly those related to operations and finances, and are satisfied that appropriate systems and procedures are in place to mitigate exposure to the major risks.
The trustees have identified the top five risks for this reporting period as:
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Sustainability: Failure to generate sufficient income to meet costs required to sustain the Charity.
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Fundraising activity: Fundraising activity is insufficient as service users continue to experience cost-of-living pressures and are therefore limited in amounts of donations they can make, and/or grant funding opportunities are limited considering current pressures within the voluntary sector, where demand for grant funding now exceeds supply of available funds.
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Delivery of optimum impact: Expected impact as defined in Objects to our service users, their carers and/or the wider community is not delivered.
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Volunteer/operational resource: Inability to recruit and/or retain enough volunteers.
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Serious injury or damage to individuals or property: An injury is sustained whilst an individual is in our facility and/or damage occurs to property or equipment because we do not attend to mitigating actions.
For each of the top five risks, and all other risks that the trustees have identified and regularly consider, there are risks associated with our own conduct, the conduct of others whom we have authorised and conduct which we have not authorised.
To mitigate each of the risks, there are various processes, procedures, and controls in place and these are periodically reviewed by trustees, staff and volunteers (where appropriate) to ensure extensive mitigating actions are in place.
Measures already in place, which are operating effectively, include but are not limited to:
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Board of Trustees and CEO have a constant focus on financial measures and strategy.
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Regular financial forecasting defines actions required to ensure sustainability.
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Continual marketing of the Centre and awareness-raising ensures that we reach new service users and funding
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supporters.
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A programme is in place to actively manage costs, ensuring best use of revenues generated.
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CEO and trustees continuously monitor volunteer numbers and act appropriately if volunteer numbers decline or
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Centre needs change.
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Regular contact is maintained with all volunteers and support and encouragement provided by the CEO and the
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Oxygen Services Manager.
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Regular health and safety checks are undertaken, and an annual Health and Safety audit is completed and acted
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upon.
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A strong working relationship with the Fire Service has been maintained and we have enlisted their help in ensuring that our approach to fire risk reflects best practice
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Regular equipment checks, maintenance and servicing are undertaken, alongside upgrades to the infrastructure of the
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Centre, with careful and appropriate focus given to balancing capital and service delivery-oriented spending.
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Swindon Therapy Centre for Multiple Sclerosis (Registered number: 03031662) Trading as Neuro Wellbeing Centre
Report of the Trustees for the Year Ended 31 March 2025
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
03031662 (England and Wales)
Registered Charity number 1047353
Registered office
Bradbury House Westmead Drive Westmead Swindon Wiltshire SN5 7ER
Trustees
C Clayton T Culling J Keppel Y Omotoso (Resigned: 1 February 2025) A Saunders S Wells
Independent Examiner
James Gare Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
Approved by order of the board of trustees on 2 December 2025 and signed on its behalf by:
T Culling - Trustee
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Independent Examiner's Report to the Trustees of Swindon Therapy Centre for Multiple Sclerosis
Independent examiner's report to the trustees of Swindon Therapy Centre for Multiple Sclerosis ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity's trustees of the 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 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 your charity'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 matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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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
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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.
James Gare
Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
4 December 2025
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Swindon Therapy Centre for Multiple Sclerosis Trading as Neuro Wellbeing Centre
Statement of Financial Activities for the Year Ended 31 March 2025
| Unrestricted Designated fund funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 181,709 - Other trading activities 4 29,627 - Investment income 5 754 - Total 212,090 - EXPENDITURE ON Raising funds 6 12,211 - Charitable activities 7 Therapy and Support 162,633 45,460 Total 174,844 45,460 NET INCOME/(EXPENDITURE) 37,246 (45,460) Transfers between funds 19 (2,522) 2,522 Net movement in funds 34,724 (42,938) RECONCILIATION OF FUNDS Total funds brought forward 26,105 741,433 TOTAL FUNDS CARRIED FORWARD 60,829 698,495 |
Restricted funds £ 19,200 - - 19,200 - 15,500 15,500 3,700 - 3,700 - 3,700 |
2025 Total funds £ 200,909 29,627 754 231,290 12,211 223,593 235,804 (4,514) - (4,514) 767,538 763,024 |
2024 Total funds £ 184,408 31,943 757 217,108 396 279,334 279,730 (62,622) - (62,622) 830,160 767,538 |
|---|---|---|---|
The notes form part of these financial statements
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Swindon Therapy Centre for Multiple Sclerosis (Registered number: 03031662) Trading as Neuro Wellbeing Centre
Balance Sheet 31 March 2025
| Notes FIXED ASSETS Tangible assets 13 CURRENT ASSETS Debtors 14 Cash at bank CREDITORS Amounts falling due within one year 15 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 16 NET ASSETS FUNDS 19 Unrestricted funds: General fund Designated fixed asset fund Restricted funds TOTAL FUNDS |
Unrestricted fund £ - 7,886 60,968 68,854 (8,025) 60,829 60,829 - 60,829 |
Designated funds £ 923,953 - - - (7,522) (7,522) 916,431 (217,936) 698,495 |
Restricted funds £ - - 3,700 3,700 - 3,700 3,700 - 3,700 |
2025 Total funds £ 923,953 7,886 64,668 72,554 (15,547) 57,007 980,960 (217,936) 763,024 60,829 698,495 759,324 3,700 763,024 |
2024 Total funds £ 948,976 12,369 20,815 33,184 (15,019) 18,165 967,141 (199,603) 767,538 26,105 741,433 767,538 - 767,538 |
|---|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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continued...
Swindon Therapy Centre for Multiple Sclerosis (Registered number: 03031662) Trading as Neuro Wellbeing Centre
Balance Sheet - continued 31 March 2025
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 2 December 2025 and were signed on its behalf by:
T Culling - Trustee
The notes form part of these financial statements
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Swindon Therapy Centre for Multiple Sclerosis Trading as Neuro Wellbeing Centre
Notes to the Financial Statements for the Year Ended 31 March 2025
1. GENERAL INFORMATION
Swindon Therapy for Multiple Sclerosis is an incorporated charitable company incorporated in England / Wales . In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office, the nature of the charity's operations and principal activities are given in the Trustees Report.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest pound.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees' Annual Report.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Interest income is recognised using the effective interest method
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on straight line basis Oxygen Chamber - 10% on reducing balance Equipment - 20% on reducing balance Computer equipment - 25% on straight line basis
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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continued...
Swindon Therapy Centre for Multiple Sclerosis Trading as Neuro Wellbeing Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
2. ACCOUNTING POLICIES - continued
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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.
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.
Creditors and provisions
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.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
3. DONATIONS AND LEGACIES
| Donations and grants Gift aid OTHER TRADING ACTIVITIES Fundraising events Membership Rental income and hire of equipment INVESTMENT INCOME Deposit account interest |
2025 £ 195,968 4,941 200,909 2025 £ - 5,580 24,047 29,627 2025 £ 754 |
2024 £ 180,010 4,398 184,408 2024 £ 460 5,520 25,963 31,943 2024 £ 757 |
|---|---|---|
4. OTHER TRADING ACTIVITIES
5. INVESTMENT INCOME
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Swindon Therapy Centre for Multiple Sclerosis Trading as Neuro Wellbeing Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
6. RAISING FUNDS
Raising donations and legacies
| 2025 £ Staff costs 7,900 Fundraising costs 260 Support costs 4,051 12,211 7. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 8) £ £ Therapy and Support 178,451 45,142 8. SUPPORT COSTS Governance Management costs £ £ Raising donations and legacies 4,051 - Therapy and Support 41,065 4,077 45,116 4,077 9. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 2025 £ Depreciation - owned assets 25,773 Independent examination 2,400 |
2024 £ - 396 - 396 Totals £ 223,593 Totals £ 4,051 45,142 49,193 2024 £ 27,256 2,237 |
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10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
11. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Employees |
2025 £ 123,815 2,006 3,807 129,628 2025 6 |
2024 £ 141,839 6,102 5,955 153,896 2024 8 |
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Swindon Therapy Centre for Multiple Sclerosis Trading as Neuro Wellbeing Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
11. STAFF COSTS - continued
No employees received emoluments in excess of £60,000.
The key management personnel of the charity comprise the trustees and the Chief Executive Officer. The total employee benefits of the key management personnel of the charity were £46,882 (2024: £57,034).
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 129,771 Other trading activities 31,943 Investment income 757 Total 162,471 EXPENDITURE ON Raising funds 396 Charitable activities Therapy and Support 178,778 Total 179,174 NET INCOME/(EXPENDITURE) (16,703) Transfers between funds (37,277) Net movement in funds (53,980) RECONCILIATION OF FUNDS Total funds brought forward 80,085 TOTAL FUNDS CARRIED FORWARD 26,105 The above relates to the year ended 31 March 2024. TANGIBLE FIXED ASSETS Freehold Oxygen property Chamber £ £ COST At 1 April 2024 952,927 107,896 Additions - - At 31 March 2025 952,927 107,896 DEPRECIATION At 1 April 2024 53,545 85,324 Charge for year 17,992 2,257 At 31 March 2025 71,537 87,581 NET BOOK VALUE At 31 March 2025 881,390 20,315 At 31 March 2024 899,382 22,572 |
Designated funds £ - - - - - 45,919 45,919 (45,919) 37,277 (8,642) 750,075 741,433 Equipment £ 145,706 750 146,456 118,684 5,524 124,208 22,248 27,022 |
Restricted Total funds funds £ £ 54,637 184,408 - 31,943 - 757 54,637 217,108 - 396 54,637 279,334 54,637 279,730 - (62,622) - - - (62,622) - 830,160 - 767,538 Computer equipment Totals £ £ 1,667 1,208,196 - 750 1,667 1,208,946 1,667 259,220 - 25,773 1,667 284,993 - 923,953 - 948,976 |
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13. TANGIBLE FIXED ASSETS
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Swindon Therapy Centre for Multiple Sclerosis Trading as Neuro Wellbeing Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
13. TANGIBLE FIXED ASSETS - continued
Included in cost or valuation of land and buildings is freehold land of £53,333 (2024 - £53,333) which is not depreciated.
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Prepayments and accrued income 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 17) Trade creditors Social security and other taxes Other creditors Accruals and deferred income 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 17) 17. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal |
2025 £ 6,535 1,351 7,886 2025 £ 7,522 - 1,283 355 6,387 15,547 2025 £ 217,936 2025 £ 7,522 8,174 18,538 191,224 |
2024 £ 10,531 1,838 12,369 2024 £ 7,940 836 2,296 689 3,258 15,019 2024 £ 199,603 2024 £ 7,940 8,728 20,129 170,746 |
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Swindon Therapy Centre for Multiple Sclerosis Trading as Neuro Wellbeing Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
18. SECURED DEBTS
The following secured debts are included within creditors:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Bank loans | 225,458 | 207,543 |
The bank loan is secured by a legal charge over the charity's freehold property.
19. MOVEMENT IN FUNDS
| Unrestricted funds General fund Designated fixed asset fund Restricted funds Car park Air con costs TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund Designated fixed asset fund Restricted funds Oxygen Car park Utilities Exercise costs Defibrillator costs Gym costs Air con costs TOTAL FUNDS |
At 1.4.24 £ 26,105 741,433 767,538 - - - 767,538 as follows: |
Net movement in funds £ 37,246 (45,460) (8,214) 1,200 2,500 3,700 (4,514) Incoming resources £ 212,090 - 212,090 2,000 1,200 1,000 10,000 1,000 1,500 2,500 19,200 231,290 |
Transfers between At funds 31.3.25 £ £ (2,522) 60,829 2,522 698,495 - 759,324 - 1,200 - 2,500 - 3,700 - 763,024 Resources Movement expended in funds £ £ (174,844) 37,246 (45,460) (45,460) (220,304) (8,214) (2,000) - - 1,200 (1,000) - (10,000) - (1,000) - (1,500) - - 2,500 (15,500) 3,700 (235,804) (4,514) |
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Swindon Therapy Centre for Multiple Sclerosis Trading as Neuro Wellbeing Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
19. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.4.23 in funds £ £ Unrestricted funds General fund 80,085 (16,703) Designated fixed asset fund 750,075 (45,919) 830,160 (62,622) TOTAL FUNDS 830,160 (62,622) Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 162,471 Designated fixed asset fund - 162,471 Restricted funds Building maintenance 3,000 Alter G machine repairs 1,080 Lottery funding 49,002 TE Connectivity Community Ambassador Program 1,555 54,637 TOTAL FUNDS 217,108 |
Transfers between At funds 31.3.24 £ £ (37,277) 26,105 37,277 741,433 - 767,538 - 767,538 Resources Movement expended in funds £ £ (179,174) (16,703) (45,919) (45,919) (225,093) (62,622) (3,000) - (1,080) - (49,002) - (1,555) - (54,637) - (279,730) (62,622) |
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Restricted funds:
Building maintenance - funding received from the Neighbourly Foundation (B&Q) for repairs to the premises including central heating system
Lottery funding - funding was for predominantly towards post Covid recovery costs; supporting resuming operations and expanding the Centre's reach and support
Alter G machine repair - funding received from The Hillier Community Fund to repair this machine.
TE Connectivity Community Ambassador Program - funding received to expand range and reach to meet
demand
Utilities - ASDA Community Fund towards utilities
Exercise costs - The February Foundation and Wiltshire Community Foundation towards Exercise costs Defibrillator costs - Arnold Clarke Auto for Defibrillator costs
Gym costs - The CPF Trust for Gym costs
Oxygen costs - The Hospital Saturday Fund for Oxygen costs Car park costs - The Jack Lane Trust for Car park costs
Air con costs - SJP Charitable Foundation for Air con costs
Designated fund:
Designated fixed assets - this fund is equivalent to the net book value of unrestricted fixed assets held less the loan held as security against the property.
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Swindon Therapy Centre for Multiple Sclerosis Trading as Neuro Wellbeing Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
20. EMPLOYEE BENEFIT OBLIGATIONS
The charity operates a defined contribution pension scheme. The costs for the period was £3,807 (2024: £6,784). Contributions totalling £355 (2024: £689) were outstanding at the balance sheet date.
21. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
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