2020-12-31-accounts - Merlin Neuro Therapy Centre Ltd

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Trustees			Dr EJ Campbell
			Mr C Clark QC
			Mrs SJCoode	MBE	DL
			Mr M Gifford
			MrAE James
			Mr MEF James
			Mr SBBLawrence
			Mr DA Perks
			Mr TSneddon	—Chairman
			Mr M Ward			(Appointed 26 October 2020)
Secretary			MrAE James
Acting Centre manager			Ms SSnell
Charity number			1093691
Company	number		0446061'I
Principal address			Bradbury House
			Hewas Water
			STAUSTELL
			Comwall
			PL26 7JF
			www. merlinmscentre.		org.uk
Registered		office	Bradbury House
			Hewas Water
			STAUSTELL
			Cornwall
			PL26 7JF
Independent		examiner	Mark Williams	FCA	DChA
			RRL LLP
			Peat House
			Newham Road
			TRURO
			Comwall
			TR12DP
Bankers			Barclays Bank	PLC
			Truro Group
			55ABank Street
			NEWQUAY
			Cornwall
			TR7 1JE

			Page
Chairman's statement			1-4
Trustees' report			5-7
Independent examiner's		report
Statement offinancial	activities
Balance sheet			1Q-11
Statement ofcash tlows			12
Notes to the financial	statements		13-33

In last year's Annual Report, we indicated our 'near ter progress:-	m' strategy as	Trustees.	The table below	demonstrates our
Improve the Charity's current financial position to one	ofstability and	freedom
rom debt
Enable the ea re-openin ofthe Hydrothera pool	with improved	staffing
Extend and supplement a separate legacy designated	to install ground source		Hydi'oO'eiapy:.	,p'oo1::co'mpleted;
heatin for the h drothera ool to the whole Hewas	Water site		bijsinem case.-,'for site-under. review
Refinance outreach and extend day respite services
Establish an endowment in perpetuity that will provide	base income	to	Still",in-':forwaid';plans-where"fundihg
contribute to operational costs			available-,

				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				funds	funds		funds	funds
				2020	2020	2020	2019	2019	2019
			Notes			F
Donations and legacies				401,233	44,500	445,733	128,030	92,642	220,672
Charitable activities				65,958		65,958	183,828		183,828
Other trading activities				68,072		68,072	180,965		180,965
Investments				17		17	59		59
Other income							2,905		2,905
Total income				535,280	44,500	579,780	495,787	92,642	588,429
Raising funds				84,076		84,076	175,593		175,593
Charitable activities				331,755	43,537	375,292	527,626	21,642	549,268
Total resources
expended				415,831	43,537	459,368	703,219	21,642	724„861
Net gains/(losses)		on
investmenis			14	3,607		3,607
Net incomingl
(outgoing) resources
before transfers				123,056	963	124,019	(207,432)	71,000	(136,432)
Gross transfers
between funds				44,065	(44,065)		31,525	(31,525)
Net movement	in	funds		167,121	(43,102)	124,019	(175,907)	39,475	(136,432)
Fund balances at 1
January 2020				747,600	2,014,369	2,761,969	923,507	1,974,894	2,898,401
Fund balances	at	31
December 2020				914,721	1,971,267	2,885,988	747,600	2,014,369	2,761,969

			2020		2019
		Notes
Fixed assets
Intangible assets		15		1,391	1,391
Tangible assets		17		2,854,476	2,881,800
Investments		16		61,297
				2,917,164	2,883,191
Current assets
Stocks		19	2,577		729
Debtors		20	?,781		22,674
Cash at bank and in	hand		191,443		97,879
			201,801		121,282
Creditors".amounts	falling due within	21
one year			(232,977)		(242,504)
Net current liabilities				(31,176)	(121,222)
Total assets less current liabilities				2,885,988	2,761,969
Income funds
Restricted funds		25		1,971,267	2,014,369
Unrestri t
Designated funds		26	893,916		934,531
General unrestricted	funds		20,805		(186,931)
				914,721	747,600
				2,885,988	2,761,969

							2020		2019
						Notes
Cash flows from operating			activities
Cash generated from/(absorbed					by)	32
operations								244,563		(205,991)
Investing	activities
Purchase	oftangible fixed	assets					(68,326)		(48,669)
Proceeds	on disposal oftangible				fixed
assets									2,995
Purchase	of investments						(57,690)
Interest received							17
Net cash	used in investing		activities					(125,999)		(45,615)
Financing	activities
Receipt/(Repayment) ofborrowings							(25,000)		200,000
Net cash	(used in}/generated			from
financing	activities							(25,000)		200,000
Net increase/(decrease)		in	cash and cash
equivalents								93,564		(51,606)
Cash and	cash equivalents		at	beginning		ofyear		97,879		149,485
Cash and	cash equivalents			at end of		year		191,443		97,879

Donations and legacies						(Continued)
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds		funds	funds
	2020	2020	2020	2019	2019	2019
Grants receivable for
core activities
Band Trust					65,OOO	65,OOQ
Garfield Weston
Foundation					10,000	10,000
Cornwall Council
Funding - Covid-19
support	17,097		17,097
Edward Gostling
Foundation		14,500	14,500
Duchy Health Charity	5,000		5,000		1,422	1,422
Thomas J Horne
Memorial Trust	8,500		8,500	7,500		7,500
The Waterloo
Foundation	10,000		10,0QO
Cornwall Councillors
Community Chest	7,540		7,540
National Lottery	8,800	25,000	33,800
HMRC Job Retention
Scheme Funding	47,264		47,264
Other	32,925	5,000	37,925	22,102	16,220	38,322
	137,126	44,500	181,626	29,602	92,642	122,244

							Unrestricted	Unrestricted
							funds	funds
							2020	2019
	Fundraising			events			33,990	94,863
	Retail and		Cafb income				18,142	56,508
	Corporate		room hire				15,940	28,997
	Other income							597
	Other trading				activities		68,072	180,965
5	Charitable			activities
							2020	2019
							f
	Therapies						61,227	170,741
	Therapy	room			hire		4,731	13,087
							65,958	183,828
6	Investments
							Unrestricted	Unrestricted
							funds	funds
							2020	2019
								f.
	Interest receivable						17
7	Other income
							Total	Unrestricted
								funds
							2020	2019
	Net gain	on		disposal oftangible		fixed assets		2,905

		2020	2019
Marketing and publicity		781	2,642
Other fundraising	costs	6,908	35,797
Staffcosts		69,996	127,584
Support costs		6,391	9,570
income generation		84,076	175,593

			2020	2019
Staffcosts			164,329	301,080
Depreciation and impairment			95,650	40,413
Light and heat			14,423	17,774
Repairs and renewals			20,028	22,803
Subscriptions			1,344	2,975
Cost of provision ofsubsidised		therapy	8,076	74,16?
Travel and subsistence			5,170	17,745
Cleaning			4,158	5,814
Rent and rates			4,957	5,069
Bank charges			1,219	2,148
			319,354	489,988
Share ofsupport costs (see note 12)			14,456	19,670
Share ofgovernance	costs (see note 12)		41,482	39,610
			375,292	549,268
Analysis by fund
Unrestricted funds			331,755	527,626
Restrided funds			43,537	21,642
			375,292	549,268

Net movement in funds		2D20	2019
Net movement in funds is stated	after charging/(crediting)
Fees payable to the company's	auditor for the audit ofthe company's
financial statements			3,420
Depreciation ofowned tangible	fixed assets	95,650	40,413
Loss/(profit) on disposal oftangible fixed assets			(2,905)

Support	cos	ts
			Support	Governance	2020	2D19	Basis ofallocation
			costs	costs
Staffcosts				29,026	29,026	31,771	Staff time
Insurance			5,289		5,289	7,233	Estimated	usage
Telephone			9,213		9,213	12,418	Estimated	usage
Postage and		stationery	6,345		6,345	9,589	Estimated	usage
Audit fees						3,420	Governance
Accountancy				2,920	2,920	1,440	Governance
Legal and	professional			6,726	6,726	2,979	Governance
Independent		Examiner's					Governance
Fees				2,810	2,810
			20,847	41,482	62,329	68,850
Analysed	between
Fundraising			6,391		6,391	9,570
Charitable	activities		14,456	41,482	55,938	59,28Q
			20,847	41,482	62,329	68,850

Fixed asset investments
	Listed
	investments
Cost or valuation
At 1 January 2020
Additions	57,690
Valuation changes	3,607
At 31 December 2020	61,297
Carrying amount
At 31 December 2020	61,297
At 31 December 2019

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18	Financial instruments	Financial instruments			2020	2019
	Carrying amount of		financial assets
	Instruments measured		at fair value through	profit or loss	61,297
19	Stocks
					2020	2019
	Finished goods	and goods for resale			2,577	729
20	Debtors
					2020	2019
	Amounts falling due		within one year:
	Trade debtors				3,888	3,774
	Other debtors				3,000
	Prepayments and accrued income				893	18,900
					7,781	22,674
21	Creditors: amounts		falling due within one year
					2020	2019
	Concessionary	loans			180,000	205,00Q
	Other taxation	and social security			21,101	5,507
	Trade creditors				4,864	4,999
	Other creditors				97	83
	Accruals				26,915	26,915
					232,977	242,504
22	Loans and overdraffs
					2020	2019
	Other loans				180,000	205,000
	Payable within	one year			180,000	205,QQO

The charge to proAt or l	oss in respect of	defined contrib	ution scheme	s was f4,796	(2019:f12,8	78).
Analysis ofnet assets	between funds
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds		funds	funds
	2020	2020	2020	2019	2019	2019
Fund balances at 31
December 2020 are
represented by:
Intangible Axed assets	1,391		1,391	1,391		1,391
Tangible assets	890,309	1,964,167	2,854,476	934,531	1,947,269	2,881,800
Investments	61,297		61,297
Current assetsl
(liabilities)	(38,276)	7,100	(31,176)	(188,322)	67,100	(121,222)
	914,721	1,971,267	2,885,988	747,600	2,014,369	2,761,969

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Capital commitments			2019
At 31 December 2020	the charity had capital commitments	as follows:
Contracted for but not	provided in the financial statements:
Acquisition ofproperty,	plant and equipment		37,958

					2020	2019f
	Within one year				7,501	7,699
	Between two and	five years			20,075	2?,576
					27,576	35,275
30	Related party transactions
	Remuneration of	key management	personnel
	The remuneration	ofkey management	personnel	is as follows.

		2020	2019f
Aggregate	compensation	33,641	41,164

31	Analysis ofchanges	in net funds/(debt)	in net funds/(debt)	in net funds/(debt)
						At 1 January	Cash flows	At 31 December
						2020		2020
						K
	Cash at bank and in hand					97,879	93,564	191,443
	Loans falling due within	one year				(205,000)	25,000	(180,000)
						(107,121)	118,564	11,443
32	Cash generated from	operations					2020	2019
	Surplus/(deficit) forthe	year					124,019	(136,432)
	Adjustments for:
	Investment income recognised		in	profit or loss			(17)	(59)
	Gain on disposal oftangible fixed			assets				(2,905)
	Fair value gains and losses on		investments				(3,607)
	Depreciation and impairment oftangible				fixed assets		95,650	40,413
	Movements in working	capital:
	(Increase)/decrease in	stocks					(1,848)	2,945
	Decrease in debtors						14,893	16,143
	Increase/(decrease) in	creditors					15,473	(126,096)
	Cash generated from/(absorbed			by) operations			244,563	(205,991)