n(r MLD-UK COMPANY NO. 3018132 ENGLAND AND WALES A COIIqPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL REGISTERED CHARITY NO. 1112148 FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 KING LOOSE & CO INDEPENDENT EXAMINERS ST JOHN'S HOUSE 5 SOUTH PARADE SUMMERTOWN OXFORD OX2 7JL
MLD-UK FINANCIAL STATEMENTS FOR THE YEAR ENDED 29" FEBRUARY 2024 CONTENTS Company Inforination Directors, and Trustees, Report Statement of Trustees, Responsibilities Independent Examiners, Report Statement of Financial Activities Balance Shcet 7-11 Notes to the Financial Statements
MLD-UK FANCIAL STATEMEINTS FOR THE YEAR ENDED 29 FEBRUARY 2024 COMPANY INFORMATION Directors and Trustees Carol Ellis (Chair) Heatliei. Julien (Treasurer) Rachel Gray (resigned 8 July 2024) Sue Wells Dianne Wilcs Com an Secreta Dian¢ Wiles Com an Number 3018132 Chari Number 1112148 istered Office St John's House 5 South Parade Summertowii Oxford OX2 7JL Bankers Lloyds Baiik plc PO BOX 1000 Aiidover BXI ILT Inde endent Examiner Mrs Heather C. Fanthome FCA King Loose & Co St Joliii's House 5 South Parade Suinmertown Oxford OX2 7JL
MLD-UK DIRECTORS, AND TRUSTEES, REPORT FOR THE YEAR ENDED 29" FEBRUARY 2024 Tlie trustees present tlieir annual report and financial statements of the charity for the year ended 29 Febi'uary 2024. The financial stateinents have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's meinoranduin and articles of association, tlie Coinpaiiies Act 2006, tlie Charities Act 2011, and Accounting and Reporting by Charities= Statemeiit of Recomineiided Practice applicable to cliarities preparing tlieir accounts in accordance witli tlie Financial Repoiting Standard applicable in the UK and Republic of li'eland Charities SORP (FRS 102). and the Financial Reporting Standard applicable in tlie UK and Repliblic of Ireland (FRS 102)- Structure overnance and mana ement MLD-UK was incorporated on 3, Februaiy 1995 as an incorporated charity limited by guarantee aiid is goveriied by a memoraiiduin and articles of association. Ob ects or anisation and activities includin ublic benefit statement The aims and objectives of Lymfund - the cliarity arn] of MLD-UK - as set out in the Meinorandum of Association are'.- To proinote aiid protect health by advancing the public's education, in particular the education of therapists and health professionals, iii manual lyinpliatic draiiiag¢ (MLD) aiid to assist in the cost of ti'eatment foi. those persoiis in necessitous circuinstances who are unable to afford the treatment. In considering these aims and objects, the trustees have reviewed the giiidance issued by the Cliarity Comiiiission in relation to public beiiefit, and consider that the public benefit test coiitinu¢s to be satisfied. Reference and administrative details All directors of the coinpany are also trustees of tlie cliarity, and there are no otlier trustees. All of tlie ti-ustees iiamed on page I seivcd dui'ing the period, or as othenvise noted. All other admiiiistrative details are as listed on page l. All trustees participate iii the managem¢iit of the charity. Trustees a ointment and trainin Trustees are appoiiited at the annual general meeting, usually held in late spring. Nominations ar¢ PLIt foiThvard prior to the Ineeting, when the individual has confirined their willingness to serve, and tlien forinally proposed, seconded and voted upon at tlie meeting itself. Induction of new ti-ustees is informal, mainly covered by word of mouth and attendance at meetings wIie policy decisioiis are takeii, and inatters of coiicem discussed. There is 110 specific training policy for iiew ti-usteesldirectoi-s. ' Grant makin oli¢ Gi-ants will be given to benefit anyone of any age, sex, race or religion, resident anywhere in the UK as long as the application process has been completed correctly.
MLD-UK DIRECTORS, AND TRUSTEES, REPORT FOR THE YEAR ENDED 29 FEBRUARY 2024 Review of achievements and erformance Supporting therapists and hcalthcare professionals is the key element of the charity's educational strategy - enhancing clinical, care and research expertise. Tlie cliarity, through its awareness cainpaigns and conferences, is becoming increasingly successful in this activity. Tlie trustees are satisfied that tlie acliievements and perforn]ance of the charity demonstrate good progress. Future lans The cliarity hopes to build upon the educational and grant giving progress, and to continue to enliance and iinprove its services in accordance with the objects given on page 2. Tan ible fixed assets for use b the chari Details of movements in fixed assets are set out in the notes to the accounts- none of the assets ar¢ believed to be valued at a Inaterially different sum from that reflected in the accounts. Finances and reserves olic The reserves policy is to maintain sufficient resources to Cover 12 months of expenditure. The total expenditure for tlie period was £1 1,579 but prior to COVID ran at arouiid £50,000 pcr annuin and reserves would tlierefore need to be approximately £50,000. Reserves at tlie year-eiid wcre £75,702. The Trustees recognise that tlie Covid 19 pandemic has Iiad a significant impact on the finances of tlie Cliarity ill tlie sliort te1111. In coininon with many Charities income continues to be reduced. The Trustees Iiave respoiided by immediately initiating measures to cut costs and seek alternative avenues of fundraising, and have made appropriate changes to ensuit the long terin sustainability of the Charity. As a result they fecl that the Charity's finances are in a satisfactory positioii. Investment olic Investinents are held iii short to mediuin tem bank deposit accounts in order to provide flexibility and ease of access. The Iiighest available rate of interest is actively pursued, but this is dependent upon the capital sum available to be invested and the overriding requiremciit of accessibility. Th¢ investinent objective is to maintain the purchasing power of the monies uiitil they are required to satisfy the graiit making process. Risk mana ement The trustees hav¢ exasnined the major strategic, business and operational i-isks wliicli tlie charity faces or Inay face, and confirin that systems are in place to eiiable regular reports to be produced, so tliat the necessary steps can be taken to lessen any such risks. The principal risks faced by the charity lie iii the continuity of members deriving benefit froin mcinbership and tlieii. willingiiess to pay the aniiual membership fees, the continued ability of tlie trustees to bring in and train new trustees to continue the charitable and administrative work of tlic ¢liarity and the continued financial success of the cliarity's conferenccs.
2b. MLI)-UK DlliE, CTOILSI ANI) TRUST£IS' REPORT FOR THE YEAR FNDED 29TH FFBRUARY 2024 Indc ¢ndent ExaD]finer Mrs Heather C. Fanthoine FCA of KinE Loose & Co has agre to offer for re-appoiiitmeiit us tlie bidcpeLidLiiL Ewnincr lo the chai'ity Small com
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)Vi$iQTL 'Il?As repoi'L lias becii prepared in aLcordaLice willi thc Sniall Conipwiics, regiine of ili¢ Conipaiiius Acl ?006. rnval "Il)is report WÈLS approved by the board of directors and trustees on ........... si]ed on its bebaif by: Heather Julicn
MLD-UK STATEME, NT OF TRUSTEFts' REspof4StBILTfiES FOR THE YEA D 29- FEIIRUARY 2024 'the Iruste¢s arc requircd by law lo prepaj'e fil1]ela1 stal¢in¢nts for earli financi81 year wlii¢li give a lrne aiid fuir view ot the slate of affait3 of tli¢ ¢harily. ld of iL8 results ftir thal pcriod. Tii preparing illose financial stalcinei)Is, tlie triistecs are rcqyired to: Sel¢¢l suiiable accounting policies 8iid then apply tliem eonsislently, Observe ijie mediods alld principles ui t]Ic applicable Cliarilics SORP. Make judgcments and estimates that are re8sonable and prudeiit. Slate whether applic8ble accounting standards have bcen followed, subjecl lo any material departures disclosLd aiid exp18incd in the finaiicial statements. Prcpare the fiiiancial sthtunciits. on the goiiig conccni basis unlass it is ii)appropriate to presiinic Ilial t])¢ charilable Coinpaiiy will ¢oiitiiiuc in busiiies5, Tlie li'i15lees drc respnii%ible for kcepllig i)roper accoiiiiting rccoriLs whith disclosc willi T¢850nable acciira¢y llt Illly liiiiL Ilie linela1 position oldie cliarity, aiid lo eiiable tlicin to eiisurc diat tlic Fiiian¢ial statemeiits con)ply ivith the Cotnpanies Aci 2006, thL Cl)arilies Act 2011 and the applicabl¢ Charities SORP. Thcy are also responsible for 58feguardiiig ilie u5s¢ls of the charity aiid hence for takiiig reasonable steps for the prevenlion and detection of fraud and other iTregiilarities. Th¢ trnstees arc ffsponsible for the niaintenance and integrity of Ihe charity ald f]twicial intomiation included on the cIwity's website in accordance with Icgislation in the United Kingdom gov¢ming the preparalioIi ld di55einlliation of fm&icial 51atcmellts. B), or(ler of the board nr diroit(Jr¥ and truste0¥ Heather.luii¢n
MLD-UK INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 29 ' FEBRUARY 2024 I report on the accounts of the charity for the year ended 29 February 2024, which are set out oil pages5 to 11. Respective responsibilities of trustees and the exAminer The trustees (wlio are also tlie directors of tlie coinpany for tl)e purposes of Company law) are respoiisible for the preparatioii of tlie accounts. Tile cliarity's trustees coiisider tliat an aiidit is iiol required for tliis year uiider sectioii 144(2) of the Cliarities Act 2011 (tlie 2011 Act) and tliat an independent examination is needed. Having satisfied iiiyself that the cl)arity is not subject to audit under Part 16 of the Coinpanies Act 2006 and is eligible for iiidependent examiiiation, it is my responsibility to.. examine the accounts under section 145 of the 201 l Act- to follow the procediires laid down in the General Directions given by the Charity Comiiiission uiider section 145(5)(b) of the 201 l Act. aiid to state whether particular niatters have conie to my atteiition. Basis of Independent Examiners report My examination was carried out in accordanee witli the General Directions given by the Charity Coiiiii)issioii. An examiiiation iiicludes a review of tl)e accountiiig records kept by tlie charity aiid a coii]pari50n of the accounts presented with those record5. It also includes consideration of any unusual itei)Is or disc105ures in the accounts and seeking explanations froitj you as trustees conceming any siich iiiatters. The procedures undertaken do not provide all the evidence tliat would be required in an audit, and conseqiieiitly. no opiiiion is given as to whetlier tl)e accounts pre5eiit a "true aiid fair view" aiid tlie report is liiiiited to tliose IT]atters set out in the statement below. Ind¢pend¢nt ExAminer's statement In connection with my examination. no matter lias come to my attention.. which gives me reasonable cause to believe that in any matcrial respect the requirement5 a) to keep accounting records in accordaiice with section 386 of the Coiiipaiiies Act 2006. and b) to prepare accounts wliicli accord with the accoun¢ing record5, coniply with the accouiiting requirements of the Conipanies Act 2006 and with the Inethods and principles of Ilie Stateiment of Reconimended Practice. Accouiitiiig aiid Reporting by Charities. have not been met, or 2. to wliich, in our opinion. attention sliould be drawn in order to enable a proper understanding of the accouiits to be reached. Date.. Naine: (Heather C. Fanthome FCA) Firiii.. King L005e aiid Co. 5 South Parade Suimmertown Oxford OX2 7JL
MLD-UK STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 29 FEBRUARY 2024 SUMMARY INCOME AfqD EXPENDITURE ACCOUNT Unrestricted Funds 2024 Total Unrestricted Funds Funds 2024 2023 Total Funds 2023 Note Income & Endowments from Meinbership Fees Study Day liicome Conference Income 20,841 4,215 20,841 4,215 18,846 18,846 Doiiatioiis Fuiidraisiiig Activities etc Iiivestmeiit Income 230 230 390 390 761 761 88 88 Total Income & Endowments 26,047 26,047 19,324 19,324 enditure on Raisiiig Funds Study Day Costs Charitable Activities 162 162 785 785 5,503 5,503 5,914 5,914 6,106 6,106 Total Expenditure 11,579 11,579 6,891 6,891 Net Incoine/(Expenditure) for the Period, being Net Movemeiit in Funds 14,468 14,468 12,433 12,433 Fund Balances Brought Forward 61,234 61,234 48,801 48,801 Fund Balances Carried Forward 75,702 75,702 61,234 61,234 Tliei-e were no other recognised gains or losses in respect of 2024 or 2023, other than those reflected in tlie stat¢inent of financial activities. The noles onpages 7 lo Ilform parl ofthese accounls.
MLD-[l BALANCE SHCI fT AS AT 29Th FEBRUARY 2024 COIIIPANY NUIVIBER 3018132 2024 Note Fixed As$cts Current As¥et Siock 52 52 Debtors 1,920 75,176 1,9?0 Cash at Bai 77,148 63,408 Creditors: Amounts fallllig diie in onc ycar 1,446 Net Current A.$sets 75,70? Totsl Ass¢ts Current Liabilities 75,70? 61,234 resented b Unresiricted Fimds 75,702 61,234 For the year a)dLd ?9th February 20?4 thc eompimy was eiiliiled l() exemplion fron) the rcqiiircmenl have an ¢iudit uiidci. seclinn 477 of tlic Companics Aol ?006 relaliiig to smo11 compatiics. No iiiembc13 have rcquirLd tl)c COli)Pdny lo oblain an audit of ils accoiints for il)¢ year iii qu&%ti()n in acLoiYlai)ce wit]1 suclion 47() of Ihc Coiiipanics Act 200C). Thc dirLclors acknowledgc th¢iT rcsponsibiliLy for coInplying witli Ihe requireniciils of ihe Act with rcspect to acLI)Ullting rccords ¥nd ror Ihe prcpai?tioii ol"#ccoiiiits. Tljcse uccounls Eiave bcLll prepared in accordance with tlie provisions appli¢ablL lo coinponics 511bjecl lo ihe small Con1plI¢S i'¢gimc. Approved by the board ofdlrectors and trustees on on its behalf by: . 2021 aDd signed Hoxther.lulien Ti'easurer. Jlie n¢1 onpages 7 to ljfoi'iiiwii'l oftliese accoiint.s.
MLD-UK NOTES TO THE FINANCIAL STATEMENTS TH FOR THE YEAR ENDED 29 FEBRUARY 2024 Accountin olicies (a) General information These finaiicial statements have been presented in Pounds Sterling as this is the cui-rency of th¢ primary economic environment in wliich the cliaritable coinpaiiy operates. (b) Basis of preparation The accounts (financial stateinents) have been prepared under the historical cost conveiition with iteins recognised at cost or transaction value unless othenvise stated in tlie relevant iiotcs(s) to tl)ese accounts. Tlie financial stateinents Iiave been prepai-ed in accordaiicc witli tlie Stateinent of Recoinineiided Pi'actice: Accounting aiid Reporting by Cliarities preparing tl)eir accounts in accordance witli the Financial Repoiling Standard applicable in the UK and Repiiblic of Ireland Charities SORP (FRS 102). and tlie Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). the Charities Act 2011 and the Compaiiies Act 2006. The cliarity constitutes a public benefit entity as defined by FRS 102. The charity has taken advantage of the exemption to prepare a cash flow statement, as contained in Financial Reporting Standard I, on the grounds that it is a small charity. (c) Activities Tlie finaiicial stateinents include the results of the cliarity's operations as d¢scribed in the Dii'ectors, and Trustees, Report, (d) Income recognition Income of all kinds is accounted for when receivable, i.e. in the period in wliich tlie charity is entitled to receipt, it is probable tliat the incoine will be received and the amount of income receivable can be measured reliably. No permanent endowments have been received in the period. (e) xpeDditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the cliarity to tliat cxpenditure, it is probable that settlement will be required and the amount of the obligation can be reliably measured. Expenditure is included on an accruals basis and has been classified under headings that aggregate all costs related to the category. All core cost categories are regarded as being of a support nature to the charity's priiicipal activity, as described in the Directors, and Trustees, Report. It is anticipated that any future specific projects will be covered by restricted funds - i.c. funds i-aised specifically for that project.
MLD-UK NOTES TO THE FINAINCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 Accountin olicies cont'd (f) Grants payable (including treatment costs) Graiits payable arc payineiits Inade to tliird parties in the furtherancc of the cliarity's objects. In the case of unconditional graiit offers, tl)ese are accrued once tlie recipient lias been notified of the award. Conditional grants are only accrued when the conditioiis have beeii fulfilled and the recipient notified. No multi-year grants arc made, but applicants may apply more than once. (g) Value added tax Value added tax is not recoverable by the Cliarity, and as such is included iii the relevant costs in the statement of financial activities. (h) Operating leases The costs of operating leases, wliere the risks and respoiisibilities of ownership remaii) witli the lessor, are cliargcd to the stateinent of financial activities as incurred. Tangible assets and depreciation Tangible assets are initially rccognised at cost which is tlie purchase price plus any directly attributable costs. Subsequently tangiblc assets are mcasured at Cost less accuinulated depreciation and impairinent losses. (i) Financial assets- classified as basic financial instruments i) Cash and cash equivalents Casli aiid casli eqiiivalents include cash in hand, deposits lield with banks, aiid othei- sliort terni liighly liquid investments witli original MaritieS of three montlis oi- less. ii) Trade and other receivables Trade and otlier receivables that are receivable withiii one year are measured at the undiscounted amount of the casli expected to be received, net of any impairmcnt. iii)Tradc and other payables Trad¢ and other payables that ar¢ payable within one y¢ar are measured at the undiscounted ainount of the cash expected to be paid. (k) Fund accounting Unresti'ictcd fuiids comprise those funds which the trustces are free to use iii accordance with the objects of the Charity, as defined in the constitution. All of the charity's assets are currently represented by unrestricted funds. (i) Volunteers Tlie valuc of services provided by volunteers is not incorporated into these financial statemeiits.
MLD-UK NOTES TO THE FINANCIAL STATEMENTS TH FOR THE YEAR ENDED 29 FEBRUARY 2024 Accountin olicies cont'd (m) Donated services Where services are provided to the charity as a donation that normally would be purchased from suppliei's, this contribution is included in the financial stateinents at ali estimate based on the value of the contribution to the charity. (n) Going concern The fiiiancial statements Iiave beerj piEpared on a going concern basis. The curreiit economic conditions present increased risks for all businesses. In respoiise to sucli conditions, the directors/trustees liave carefu Ily considered these risks, including ali assessincnt of uncertainty 011 future tradiiig projection for a period of at least 12 Inoiiths from the date of signiiig tlie financial statements, and the extent to which they iniglit affect the preparation of thc financial statements. The directorsltrustees have concludcd that the going concern basis remains appropriate. Charitable activities Total Funds 2024 Total Funds 2023 Unrestricted Funds Provision of Facilities Rent Payable Support and Education Costs AGM, Coininitte¢ Meetings and Conferences Fees, Salaries and Office Cover Employer Pension Contributions Statioiiery aiid Postage Computer Costs Sundry Expenses Ti-catineiit Costs Clerical Assistance Indepeiident Examination costs Baiik and PayPal Charges Bad Debt provision Teleplione 350 4,500 13 4,500 13 13 4,100 1,386 15 1,386 15 1,643 5,914 5,914 6,106 Total funds 2023 relate wholly to unrestricted funds
io. MLD-UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 Staff costs 2024 2023 The average nuinbei. of pernianent personnel einployed during the year was: Clerical Tlie aggregate payroll costs of tliese employees were as follows: Salaries Einployei. Peiision Contributions No einployee received emoluments above £60,000 during the year. 2023 Statuto disclosures 2024 Trusteesldirectors reinuneration Operating lease payments- Preinises rcnt Nil Nil 2023 Debtors 2024 Trade Debtoi"s Pi-cpayineiits 1,920 1,920 1,920 1.920 Creditors: amounts falli due in one ear 2024 2023 PAYE Creditor Accrued Expeiiscs Defei'red Income 1,446 2,174 1,446 2,174
11. MLD-UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2024 Share ca ital MLD-UK is liinited by guarante¢ and does not have a sliare capital. Unrestricted funds All of the charity's net assets are currently represented by unrcstricted funds. This was also tlie situation for tlie 2023 year. Trustees, remuneration and ex enses None of the trustecs receive remuneration from the charity. No trustee receives expenses from the charity althougli occasioiial, low value, cost reimbursements arc inade.