OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-10-31-accounts

Registered number: 07000565 Charity number: 1131940

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Chairman's statement 2
Trustees' report 3 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9 - 10
Notes to the financial statements 11 - 24

MS THERAPY CENTRE, NORFOLK LTD (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2021

Trustees S Bridewell
S Carroll
B Elwen
L Pickering
S England
P Narracott (resigned 28 October 2021)
Company registered
number 07000565
Charity registered
number 1131940
Registered office 5 Hurricane Way
Norwich
Norfolk
NR6 6EZ
Accountants MA Partners LLP
7 The Close
Norwich
Norfolk, NR1 4DJ

Page 1

MS THERAPY CENTRE, NORFOLK LTD (A company limited by guarantee)

CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 OCTOBER 2021

The Chairman presents his statement for the year ended 31[st] October 2021.

2021 has been an extremely challenging year, with the constraints of Covid restrictions affecting our ability to open consistently throughout the year. This has had a detrimental effect on our service users, so the Trustees, along with our team at the MS Therapy Centre, have focused on ensuring as many services as possible have been provided within Covid guidance. This has obviously incurred more costs around PPE and additional cleaning procedures. We have managed to keep the centre open three days a week with reduced hours for all paid staff and immense support from all our volunteers.

Although our income has been low due to our inability to carry out normal fundraising events, we have had excellent support from Norfolk Community Foundation. They have funded some of our services and centre costs, which has allowed us to stay solvent for this year. This will also ensure we can continue for the following year.

Page 2

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2021

The Trustees present their Annual Report together with the financial statements of the Company for the year 1 November 2020 to 31 October 2021. The Annual Report serves the purposes of both a Trustees' Report and a Directors' Report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

To charity's objective is to establish and run a centre in the Norwich area which will provide treatment, therapies, care and education for people with disabling conditions, their family and carers so they can maintain independent living.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

We help all those in Norfolk who are affected by multiple sclerosis (MS) or other neurological conditions, by offering a range of support services to assist their well-being.

c. Activities undertaken to achieve objectives

Therapies

We offer a wide range of therapies to our centre users, whether or not they have MS.

Advice and Support

A full range of counselling and advice services is available to anyone coming to grips with dealing with MS. We have several counsellors who can help with emotional issues, and we also offer practice advice on such matters as benefits and continence. Because of Covid restrictions the organisation has adapted all our services to either online or telephone support and reduced numbers within our centre.

Yoga and Pilates

Fitness is very much a part of dealing with MS or any other neurological condition. Classes are held at our centre on most days. Yoga and Pilates classes have also been delivered online.

Page 3

MS THERAPY CENTRE, NORFOLK LTD (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2021

Objectives and activities (continued)

d. Main activities undertaken to further the Company's purposes for the public benefit

The main activities in the year were centred around offering services to people affected by MS and other neurological conditions. These services included specialist one-to-one holistic therapies and medical services.

The charity maintained the frequency of its group physiotherapy classes at 3 days per week and has continued to deliver a variety of exercise classes.

The charity has also continued the subsidised counselling service for newly diagnosed MS patients.

Achievements and performance

a. Main achievements of the Company

The Trustees have looked at all the services provided for the financial year and measured throughput and output via patient interaction and have decided to continue with all the activities into the next financial year.

Due to Covid, the Trustees made the decision to close the centre down for a period during lockdown to enable the centre to be brought up to Covid requirements. The Trustees focused on fundraising for the purchase of equipment to enable the centre to operate in line with government guidelines.

We have managed to secure all the funds needed to complete works required as per government guidelines, and we have now reopened the centre with limited capacity to ensure that as many people as possible can access our services.

We now have a strong board of Trustees who are focused on providing support and services for people with neurological conditions.

We would like to express our appreciation to our funders and stakeholders for their generosity and support throughout this very trying year.

Most of this would not have been possible without the dedication of the team based at the centre; a big thank you for all your hard work. We look forward to a bright future and welcoming all existing and new centre users for next year.

Financial review

a. 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, the Trustees continue to adopt the going concern basis in preparing the financial statements.

b. Reserves policy

The charity currently has no "free reserves" (unrestricted funds excluding those represented by fixed assets).

Page 4

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2021

c. Deficit

The financial statements show a deficit on unrestricted funds. This is as a result of the requirement to accrue for rent payable over the life of the lease although the charity currently has the benefit of a rent-free period under the terms of the lease.

Structure, governance and management

a. Constitution

MS Therapy Centre, Norfolk Ltd is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.

b. Methods of appointment or election of Trustees

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.

Plans for future periods

Unfortunately, the centre was hit hard financially due to the pandemic during 2020 and this has made it extremely difficult to plan for the future. The Trustees have examined the financial position of the charity and have decided that running at a reduced level of services is sustainable for the time being. We are confident that careful budgeting, planned fundraising targets and a slow increase of activities within the centre should allow the centre to operate on a financially sound basis in the medium term.

With all this in mind, we still plan to finish works within the centre by 2022, although this has now been delayed by 12 months. Our aims are:

Members' liability

The Members of the Company guarantee to contribute an amount not exceeding £10 to the assets of the Company in the event of winding up.

Page 5

MS THERAPY CENTRE, NORFOLK LTD (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2021

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Page 6

MS THERAPY CENTRE, NORFOLK LTD (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2021

Independent Examiner's Report to the Trustees of MS Therapy Centre, Norfolk Ltd ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended ended 31 October 2021.

Responsibilities and Basis of Report

As the Trustees of the Company (and 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 the Company's accounts 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.

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.

This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.

Signed: Dated: 11 May 2022

Mr F M E Shippam BSc FCA DChA

MA Partners LLP

Page 7

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2021

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2021
£
53,324
49,769
1,369
104,462
377
141,536
141,913
(37,451)
(20,444)
(37,451)
(57,895)		 Restricted
funds
2021
£
12,800
-
-
12,800
-
-
-
12,800
3,640
12,800
16,440		 Total
funds
2021
£
66,124
49,769
1,369
117,262
377
141,536
141,913
(24,651)
(16,804)
(24,651)
(41,455)		 Total
funds
2020
£
79,953
48,080
4,113
132,146
1,011
149,816
150,827
(18,681)
1,877
(18,681)
(16,804)

The Statement of Financial Activities includes all gains and losses recognised in the year ended.

The notes on pages 11 to 24 form part of these financial statements.

Page 8

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee) REGISTERED NUMBER: 07000565

BALANCE SHEET AS AT 31 OCTOBER 2021

Fixed assets
Note
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current liabilities
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
14
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
15
Total funds		 520
12,691
13,211
(16,527)		 2021
£
81,792
81,792
(3,316)
78,476
(119,931)
(41,455)
16,440
(57,895)
(41,455)		 540
29,102
29,642
(48,210)		 2020
£
87,643
87,643
(18,568)
69,075
(85,879)
(16,804)
3,640
(20,444)
(16,804)

Page 9

MS THERAPY CENTRE, NORFOLK LTD (A company limited by guarantee) REGISTERED NUMBER: 07000565

BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2021

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year ended in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies’ regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

The notes on pages 11 to 24 form part of these financial statements.

Page 10

MS THERAPY CENTRE, NORFOLK LTD (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

1. General information

MS Therapy Centre, Norfolk Ltd is a company limited by guarantee and registered in England and Wales. The Company's registered office address is 5 Hurricane Way, Norwich, NR6 6EZ. The Company's principal objective is to establish and run a centre in the Norwich area which will provide treatment, therapies, care and education for people with disabling conditions, their family and carers so they can maintain independent living.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

MS Therapy Centre, Norfolk Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The Statement of Financial Position shows the Company has net current liabilities of £3,316. With creditors: amounts falling due after more than one year are accruals of £87,500 arising from the accounting requirement to accrue a rental charge whilst the Company benefits from a rent-free period. The Trustees are confident that the fundraising plans for the coming 12 months will ensure that the Company can continue to meet its obligations as they fall due.

2.3 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

Page 11

MS THERAPY CENTRE, NORFOLK LTD (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

2. Accounting policies (continued)

2.4 Expenditure (continued)

All expenditure is inclusive of irrecoverable VAT.

2.5 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Long-term leasehold property - straight line over 20 years Long-term leasehold property - straight line over 20 years
Plant and machinery - straight line over 10 years
Computer equipment - straight line over 3 years

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and 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.

2.9 Liabilities

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.10 Financial instruments

The Company 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 12

MS THERAPY CENTRE, NORFOLK LTD (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

2. Accounting policies (continued)

2.11 Pensions

The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year ended.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 13

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

3. Income from donations and legacies

Donations
Grants
Government grants
Total 2021
Total 2020		 Unrestricted
funds
2021
£
29,579
-
23,745
53,324
59,813		 Restricted
funds
2021
£
-
12,800
-
12,800
20,140		 Total
funds
2021
£
29,579
12,800
23,745
66,124
79,953		 Total
funds
2020
£
47,193
18,640
14,120
79,953

Government grants were received in the form of the Coronavirus Job Retention Scheme. There are no unfulfilled conditions or contingencies attached to these grants.

4. Income from charitable activities

Unrestricted Total Total
funds funds funds
2021 2021 2020
£ £ £
Room hire 49,769 49,769 48,080

5. Income from other trading activities Income from fundraising events

Lottery
Subscriptions
Race night, marathon, Catton 5k, bike ride		 Unrestricted
funds
2021
£
746
75
548
1,369		 Total
funds
2021
£
746
75
548
1,369		 Total
funds
2020
£
776
408
2,929
4,113

Page 14

MS THERAPY CENTRE, NORFOLK LTD (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

6. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted Total Total
funds funds funds
2021 2021 2020
£ £ £
Other fundraising costs 377 377 1,011

7. Analysis of expenditure by activities

Charitable activities
Total 2020		 Activities
undertaken
directly
2021
£
133,452
141,086		 Support
costs
2021
£
8,084
8,730		 Total
funds
2021
£
141,536
149,816		 Total
funds
2020
£
149,816

Analysis of direct costs

Page 15

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

7. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Staff costs
New building costs
Rent
Light and heat
Cleaning
Depreciation
Advertising
Premises
Professional fees
Computers and software
Insurance
Travel
Repairs and renewals
Advertising
Subscriptions
Practitioners
Covid Counselling		 Total
funds
2021
£
45,638
26,852
17,510
16,443
10,416
5,851
2,720
2,637
2,460
1,136
770
430
250
239
100
-
-
133,452		 Total
funds
2020
£
41,001
30,433
17,500
13,179
7,981
6,015
3,113
6,118
235
46
993
994
5,984
66
100
1,328
6,000
141,086

Page 16

MS THERAPY CENTRE, NORFOLK LTD (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Office
Governance costs
Printing, postage and stationery
Bank charges
Sundries		 Total
funds
2021
£
4,358
2,166
1,240
218
102
8,084		 Total
funds
2020
£
5,185
1,980
1,189
-
376
8,730

8. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £1,200 (2020 - £1,200) , and fee for the preparation of the financial statements of £780 ( 2020 - £780 ).

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2021
£
42,971
1,710
957
45,638		 2020
£
40,069
-
932
41,001

The average number of persons employed by the Company during the year ended was as follows:

2021 2020
No. No.
Number of staff 3 3

No employee received remuneration amounting to more than £60,000 in either year.

Page 17

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

10. Trustees' remuneration and expenses

During the year ended, no Trustees received any remuneration or other benefits (2020 - £NIL)

During the year ended 31 October 2021, travel expenses totalling £ NIL were reimbursed to Trustees (2020 - £87 ).

11. Tangible fixed assets

Cost or valuation
At 1 November 2020
At 31 October 2021
Depreciation
At 1 November 2020
Charge for the year ended
At 31 October 2021
Net book value
At 31 October 2021
At 31 October 2020		 Long-term
leasehold
property
£
83,838
83,838
11,125
4,192
15,317
68,521
72,713		 Plant and
machinery
£
16,588
16,588
1,658
1,659
3,317
13,271
14,930		 Computer
equipment
£
2,196
2,196
2,196
-
2,196
-
-		 Total
£
102,622
102,622
14,979
5,851
20,830
81,792
87,643

12. Debtors

Due within one year
Trade debtors		 2021
£
520
520		 2020
£
540
540

Page 18

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

13. Creditors: Amounts falling due within one year

Bank loan
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2021
£
5,132
8,896
514
235
1,750
16,527		 2020
£
26,705
8,107
186
11,562
1,650
48,210

14. Creditors: Amounts falling due after more than one year

Bank loans
Other loans
Accruals and deferred income		 2021
£
19,895
12,536
87,500
119,931		 2020
£
-
15,879
70,000
85,879

Accruals and deferred income is made up of amounts accrued in relation to a rent free period under the terms of a lease. The amounts accrued will be spread over the lease term.

Page 19

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

15. Statement of funds

Statement of funds - current year ended

Unrestricted funds
Lease accrual
General Funds
Restricted funds
COVID 19 Counselling fund
Total of funds		 Balance at 1
November
2020
£
(70,000)
49,556
(20,444)
3,640
(16,804)		 Income
£
-
104,462
104,462
12,800
117,262		 Expenditure
£
(17,500)
(124,413)
(141,913)
-
(141,913)		 Balance at
31 October
2021
£
(87,500)
29,605
(57,895)
16,440
(41,455)

Page 20

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

15. Statement of funds (continued)

Statement of funds - prior year ended

Unrestricted funds
Lease accrual
General Funds
Restricted funds
Window Replacement fund
New heating fund
New building fund
COVID 19 Counselling fund
Total of funds		 Balance at
1 November
2019
£
(52,500)
49,377
(3,123)
5,000
-
-
-
5,000
1,877		 Income
£
-
112,006
112,006
-
9,000
1,500
9,640
20,140
132,146		 Expenditure
£
(17,500)
(127,327)
(144,827)
-
-
-
(6,000)
(6,000)
(150,827)		 Transfers
in/out
£
-
15,500
15,500
(5,000)
(9,000)
(1,500)
-
(15,500)
-		 Balance at
31 October
2020
£
(70,000)
49,556
(20,444)
-
-
-
3,640
3,640
(16,804)

Page 21

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

16. Summary of funds

Summary of funds - current year ended

General funds
Restricted funds
Summary of funds - prior year ended
Balance at
1 November
2019
£
General funds
(3,123)
Restricted funds
5,000
1,877		 Balance at 1
November
2020
£
(20,444)
3,640
(16,804)
Income
£
112,006
20,140
132,146		 Income
£
104,462
12,800
117,262
Expenditure
£
(144,827)
(6,000)
(150,827)		 Expenditure
£
(141,913)
-
(141,913)
Transfers
in/out
£
15,500
(15,500)
-		 Balance at
31 October
2021
£
(57,895)
16,440
(41,455)
Balance at
31 October
2020
£
(20,444)
3,640
(16,804)

Page 22

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2021
£
Restricted
funds
2021
£
81,792
-
(3,229)
16,440
(36,422)
-
(100,036)
-
(57,895)
16,440		 Total
funds
2021
£
81,792
13,211
(36,422)
(100,036)
(41,455)

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Ttl		 Unrestricted
funds
2020
£
87,643
26,002
(48,210)
(85,879)
(20,444)		 Restricted
funds
2020
£
-
3,640
-
-
3,640		 Total
funds
2020
£
87,643
29,642
(48,210)
(85,879)
(16,804)

Total

18. Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £957 (2020 - £932) . Contributions totalling £160 (2020 - £nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 23

MS THERAPY CENTRE, NORFOLK LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

19. Operating lease commitments

At 31 October 2021 the Company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 2021
£
2,292
20,000
327,708
350,000		 2020
£
-
17,292
332,708
350,000

20. Related party transactions

In the year ended 31 October 2017 the Company entered into loan arrangements with two Trustees, one of whom is no longer a Trustee.

Trustee Bernard Elwen provided the Company with an unsecured, interest free loan of £6,715. Repayments of £1,343 ( 2020: £336 ) were made in the year ended 31 October 2021 leaving a balance owing at the year end of £5,036.

Page 24