**REGISTERED COMPANY NUMBER: 06503031 (England and Wales) REGISTERED CHARITY NUMBER: 1124338**
**Pinderfields Spinal Injuries Centre Limited**
**Report of the Trustees and Financial Statements**
**Year Ended 31 December 2024**
Townends Accountants LLP Chartered Accountants Carlisle Street Goole DN14 5DX
**Pinderfields Spinal Injuries Centre Limited**
## **Contents of the Financial Statements for the Year Ended 31 December 2024**
||**Page**|
|---|---|
|**Report of the Trustees**|1|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6|
|**Notes to the Financial Statements**|8|
|**Detailed Statement of Financial Activities**|14|
**Pinderfields Spinal Injuries Centre Limited**
## **Report of the Trustees for the Year Ended 31 December 2024**
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 December 2024. 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 objectives of the charity are:
1. the relief of sickness of persons who have received spinal injuries,
2. the provision, in the interests of social welfare, of facilities for recreation and other leisure time occupation for such persons aforesaid with the object of improving their conditions of life,
3. the promotion of research concerning the treatment and rehabilitation of such persons aforesaid and,
4. the promotion or assisting in the promotion of the charitable work of Pinderfields Hospital in Wakefield.
## **Significant activities**
As part of the partnership with Spine the charity has continued to provide capital items and support for the work they do on a day to day basis.
Spine has for many years provided transport for its members to use on a minimal cost basis and the Trustees are pleased to have been able to provide a replacement vehicle costing almost £40,000. This should serve both Charities and members for many years.
The Trustees are pleased to have sponsored once again the ladies and gentlemen who represent Yorkshire Lions Wheelchair rugby team.
The Trustees are proud of the partnership with Spine who enhance the lives of individuals and families every year with a grant fund.The charity has once again donated £20,000 to Spine to enable them to continuing making grants.
Significant purchases have been made for the ward including a physiotherapy stand, a motor assisted cycling trainer and wireless exercising kits. Total expenditure on the vehicle, equipment and grants was £92,389. This has been facilitated by a record level of investment income and gains on the investment portfolio. The Trustees continue to work closely with Rathbones incorporating Investec Wealth, who invest the funds to provide income and capital growth. Our thanks go to our account manager, Simon Hook who has served us well for many years and we look forward to working with Laura Park following his retirement.
## **Public benefit**
The charity has and continues to support the Mid Yorkshire NHS Trust mainly at Pinderfields Hospital, Wakefield. Pinderfields Hospital is a regional centre for spinal cord medical conditions and injuries. The facilities are available to any person diagnosed with that kind of condition regardless of age, ethnicity, sexual orientation, religion or background.
The charity will consider applications for grants and assistance from any member of the public meeting the required medical criteria. Individual applications for grants are vetted and monitored by Spine which is a partner charity for this purpose.
1
**Pinderfields Spinal Injuries Centre Limited**
## **Report of the Trustees for the Year Ended 31 December 2024**
## **FINANCIAL REVIEW**
## **Going concern and reserves policy**
The charity does not currently undertake active fundraising and the charity maintains reserves of at least one million pounds to generate investment income which enables the charitable gifts to be continued.
Short term cash is maintained to cover known and considered charitable expenditure.
The year has seen an increase in the investment portfolio and the investment income has increased to £76,049 (2023:£67,724) The Trustees work closely with Rathbones Limited and endeavour to provide an income stream and grow the portfolio within a designated risk profile.This strategy is not without risk but relying solely on bank interest would not be able to sustain the charity in the long term.
Total assets at the year end are £2,311,070. An operating surplus of £52,417 was made during the year.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, which is it's Memorandum of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Recruitment and appointment of new trustees**
Members of the committee are elected at the Annual General Meeting of the association in accordance with the constitution. Only full members of the association are eligible to serve, and nominations for members of the committee must be made in writing by full members of the association at least 28 days before the AGM. Elections are held by ballot if nominations exceed vacancies.
## **Induction and training of new trustees**
Induction into the charity is conducted by the chief executive and Kevan Baker OBE who has a wealth of knowledge being involved in numerous charities. The trustees are encouraged to attend training and update courses.
## **Risk management**
The trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.The trustees achieve this by having the annual accounts reviewed by an independent examiner.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
06503031 (England and Wales)
## **Registered Charity number**
1124338
## **Registered office**
33 George Street Wakefield West Yorkshire WF1 1LX
2
**Pinderfields Spinal Injuries Centre Limited**
## **Report of the Trustees for the Year Ended 31 December 2024**
**Trustees** A R N Perkin A A Burt J Curson C A Ramm J M Pritchard K B Baker J S Crossley
**Company Secretary** A R N Perkin
**Independent Examiner** J Cooper FCA Townends Accountants LLP Chartered Accountants Carlisle Street Goole DN14 5DX
**Solicitors** Wrigleys 19 Cookridge Street Leeds LS2 3AG
**Investment advisers** Rathbones (incorporating Investec Wealth and Investment UK) 3 Wellington Place Leeds LS1 4AP
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on June 2025 and signed on its behalf by:
A R N Perkin - Trustee
3
**Independent Examiner's Report to the Trustees of Pinderfields Spinal Injuries Centre Limited**
## **Independent examiner's report to the trustees of Pinderfields Spinal Injuries Centre Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
## **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:
1. 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
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.
J Cooper FCA Townends Accountants LLP Chartered Accountants Carlisle Street Goole DN14 5DX
Date:
4
**Pinderfields Spinal Injuries Centre Limited**
## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
3
**Total**
**EXPENDITURE ON**
Raising funds
4
**Charitable activities**
5
Cost of making gift
**Total**
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
**100**
**76,049**
**76,149**
**13,163**
**98,560**
**111,723**
**87,991**
**52,417**
**2,255,939**
**2,308,356**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2024**
**Total**
**funds**
**£**
**100**
**76,049**
**76,149**
**13,163**
**98,560**
**111,723**
**87,991**
**52,417**
**2,255,939**
**2,308,356**|2023
Total
funds
£
175
67,724
67,899
12,314
39,868
52,182
60,172
75,889
2,180,050
2,255,939|
|---|---|---|---|---|
The notes form part of these financial statements
5
**Pinderfields Spinal Injuries Centre Limited**
## **Balance Sheet 31 December 2024**
|Notes
**FIXED ASSETS**
Investments
8
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
**2,204,769**
**106,301**
**(2,714)**
**103,587**
**2,308,356**
**2,308,356**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**-**|**2024**
**Total**
**funds**
**£**
**2,204,769**
**106,301**
**(2,714)**
**103,587**
**2,308,356**
**2,308,356**
**2,308,356**
**2,308,356**|2023
Total
funds
£
2,070,436
187,086
(1,583)
185,503
2,255,939
2,255,939
2,255,939
2,255,939|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (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
6
continued...
**Pinderfields Spinal Injuries Centre Limited**
## **Balance Sheet - continued 31 December 2024**
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 June 2025 and were signed on its behalf by:
A R N Perkin - Trustee
J S Crossley - Trustee
The notes form part of these financial statements
7
**Pinderfields Spinal Injuries Centre Limited**
**Notes to the Financial Statements for the Year Ended 31 December 2024**
## **1. COMPANY DETAILS**
Pinderfields Spinal Injuries Centre Limited is a private company limited by guarantee and is registered in England. Its company registration number is 06503031 and it is also a registered charity with number 1124338. The registered office is 33 George Street, Wakefield, West Yorkshire, WF1 1LX.
## **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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The accounts have been denoted in sterling.
## **Going concern**
The Trustees do not consider there to be any going concern issues as the charity has assets of over two million pounds and it has no committed expenditure or overheads.
## **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.
## **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.
## **Fixed asset investments**
Investments are stated at market value as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.
## **Cash at bank and in hand**
Bank balances of short maturity of three months or less are included as cash at bank and in hand.
## **Creditors**
All liabilities which the charity is committed to are included in creditors.
## **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.
continued...
8
**Pinderfields Spinal Injuries Centre Limited**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **2. ACCOUNTING POLICIES - continued**
## **Unrealised and realised gains and losses on investments**
When investments are sold a realised gain or loss representing the proceeds less the previous year’s valuation is shown in the Statement of Financial Activities.The market value of all assets held at the year end is obtained and movements since the previous year end are shown in the Statement of Financial Activities as an unrealised gain or loss.
## **Financial instruments**
The company has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and subsequently measured at their settlement value.
## **3. INVESTMENT INCOME**
|Deposit account interest
Dividend income from investments
Interest receivable from investments
**4.**
**RAISING FUNDS**
**Investment management costs**
Portfolio management
**5.**
**CHARITABLE ACTIVITIES COSTS**
Cost of making gift|**2024**
2023
**£**
£
**5,709**
7,395
**48,386**
41,979
**21,954**
18,350
**76,049**
67,724
**2024**
2023
**£**
£
**13,163**
12,314
Support
costs
£
**98,560**|
|---|---|
Included in the cost of making gift is an amount of £1,646 (2023: £1,646) in respect of fees paid to the Independent Examiner.
continued...
9
**Pinderfields Spinal Injuries Centre Limited**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **7.**
|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
175
Investment income
67,724
**Total**
67,899
**EXPENDITURE ON**
Raising funds
12,314
**Charitable activities**
Cost of making gift
39,868
**Total**
52,182
Net gains on investments
60,172
**NET INCOME**
75,889
**RECONCILIATION OF FUNDS**
Total funds brought forward
2,180,050
**TOTAL FUNDS CARRIED FORWARD**
2,255,939|
Restricted
fund
£
-
-
-
-
-
-
-
-
-
-|Total
funds
£
175
67,724
67,899
12,314
39,868
52,182
60,172
75,889
2,180,050
2,255,939|
|---|---|---|
continued...
10
**Pinderfields Spinal Injuries Centre Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **8. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 1 January 2024
Additions
Disposals
Revaluations
At 31 December 2024
**NET BOOK VALUE**
At 31 December 2024
At 31 December 2023
There were no investment assets outside the UK.
Cost or valuation at 31 December 2024 is represented by:
Valuation in 2024
Cost
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accruals and deferred income
**10.**
**MOVEMENT IN FUNDS**
At 1.1.24
£
**Unrestricted funds**
General fund
**2,255,939**
**TOTAL FUNDS**
**2,255,939**|**2024**
**£**
**2,714**
Net
movement
in funds
£
**52,417**
**52,417**|Listed
investments
£
**2,070,436**
**508,319**
**(450,551)**
**76,565**
**2,204,769**
**2,204,769**
2,070,436
**Listed**
**investments**
**£**
**358,061**
**1,846,708**
**2,204,769**
2023
£
1,583
At
31.12.24
£
**2,308,356**
**2,308,356**|
|---|---|---|
continued...
11
**Pinderfields Spinal Injuries Centre Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **10. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
**76,149**
**76,149**|Resources
expended
£
**(111,723)**
**(111,723)**|Gains and
Movement
losses
in funds
£
£
**87,991**
**52,417**
**87,991**
**52,417**|Gains and
Movement
losses
in funds
£
£
**87,991**
**52,417**
**87,991**
**52,417**|
|---|---|---|---|---|
|||||**52,417**|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.23
£
2,180,050
2,180,050|Net
movement
in funds
£
75,889
75,889|At
31.12.23
£
2,255,939|
|---|---|---|---|
||||2,255,939|
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|67,899|(52,182)|60,172|75,889|
|**TOTAL FUNDS**|67,899|(52,182)|60,172|75,889|
continued...
12
**Pinderfields Spinal Injuries Centre Limited**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **11. RELATED PARTY DISCLOSURES**
During the year administrative services totalling £4,525 (2023: £4,543) were provided to the charity by SMH Jolliffe Cork Ltd. Ms J S Crossley is a director of this entity.
13
**Pinderfields Spinal Injuries Centre Limited**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2024**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Gifts
**Investment income**
Deposit account interest
Dividend income from investments
Interest receivable from investments
**Total incoming resources**
**EXPENDITURE**
**Investment management costs**
Portfolio management
**Support costs**
**Management**
Professional fees
Spine-patient transport
Spine- wheelchair rugby and conference
SPINE grants fund
Spine- ward equipment
Donation re:motor insurance
**Other**
Independent examiner's fee
Total resources expended
**Net (expenditure)/income before gains and**
**losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset investments
**Net (expenditure)/income**|2024
£
**100**
**5,709**
**48,386**
**21,954**
**76,049**
**76,149**
**13,163**
**4,525**
**39,995**
**4,000**
**20,000**
**28,394**
**-**
**96,914**
**1,646**
**111,723**
**(35,574)**
**11,426**
**(24,148)**|2023
£
175
7,395
41,979
18,350
67,724
67,899
12,314
4,543
-
4,000
20,000
6,679
3,000
38,222
1,646
52,182
15,717
23,264
38,981|
|---|---|---|
This page does not form part of the statutory financial statements
14