REGISTERED COMPANY NUMBER: 02245957 (England and Wales) REGISTERED CHARITY NUMBER: 299511
Report of the Trustees and
Unaudited Financial Statements
For The Year Ended 31st December 2020
for
Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
John Phillips & Co Limited Accountants Unit 81 Centaur Court Claydon Business Park Gt. Blakenham Ipswich Suffolk IP6 0NL
Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Contents of the Financial Statements For The Year Ended 31st December 2020
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Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3 to 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 15
Detailed Statement of Financial Activities 16 to 17
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Report of the Trustees For The Year Ended 31st December 2020
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 31st December 2020. 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 principal objectives of the charity is to provide Hyperbaric Oxygen therapy and other services to people suffering from multiple sclerosis and also to people with other health problems, in the county of Suffolk and surrounding areas, to promote research necessary to find the cause, cure and prevention of multiple sclerosis.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The company has no issued share capital and in the event of liquidation the liability of the members is limited to £10.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02245957 (England and Wales)
Registered Charity number
299511
Registered office
Suffolk Oxygen Therapy Centre Unit 27 Claydon Business Park Gipping Road, Great Blakenham Ipswich Suffolk IP6 ONL
Trustees
P J Sims R E Sparling Treasurer Mrs E F Sims Mrs J E Vince Trustee Miss S J Kirk Trustee (resigned 13/6/2020) Mrs L M Moxon Chairperson (appointed 20/6/2020) G P Moxon Secretary (appointed 9/9/2020) R Burton (appointed 9/9/2020) (resigned 25/9/2020)
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Report of the Trustees For The Year Ended 31st December 2020
REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary G P Moxon
Independent Examiner
John Phillips & Co Limited Accountants Unit 81 Centaur Court Claydon Business Park Gt. Blakenham Ipswich Suffolk IP6 0NL
Approved by order of the board of trustees on 31st March 2021 and signed on its behalf by:
R E Sparling - Trustee
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Independent Examiner's Report to the Trustees of Suffolk Multiple Sclerosis Therapy Centre
Independent examiner's report to the trustees of Suffolk Multiple Sclerosis Therapy Centre ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2020.
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.
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Independent Examiner's Report to the Trustees of Suffolk Multiple Sclerosis Therapy Centre
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
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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.
John Phillips and Co Limited John Phillips & Co Limited Accountants Unit 81 Centaur Court Claydon Business Park Gt. Blakenham Ipswich Suffolk IP6 0NL
12th April 2021
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Statement of Financial Activities For The Year Ended 31st December 2020
| 2020 Unrestricted Restricted Total funds fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 54,494 50 54,544 Charitable activities Treatment 38,178 - 38,178 Other trading activities 2 6,526 - 6,526 Investment income 3 298 - 298 Total 99,496 50 99,546 EXPENDITURE ON Raising funds 547 - 547 Charitable activities Treatment 96,805 - 96,805 Total 97,352 - 97,352 NET INCOME/(EXPENDITURE) 2,144 50 2,194 RECONCILIATION OF FUNDS Total funds brought forward 55,878 - 55,878 TOTAL FUNDS CARRIED FORWARD 58,022 50 58,072 |
2019 Total funds £ 9,465 50,414 2,428 315 62,622 306 93,448 93,754 (31,132) 87,010 55,878 |
|---|---|
The notes form part of these financial statements
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Balance Sheet 31st December 2020
| Unrestricted Restricted funds fund Notes £ £ FIXED ASSETS Tangible assets 8 11,266 - CURRENT ASSETS Debtors 9 1,113 - Cash at bank 49,190 50 50,303 50 CREDITORS Amounts falling due within one year 10 (3,547) - NET CURRENT ASSETS 46,756 50 TOTAL ASSETS LESS CURRENT LIABILITIES 58,022 50 NET ASSETS 58,022 50 FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
2020 Total funds £ 11,266 1,113 49,240 50,353 (3,547) 46,806 58,072 58,072 58,022 50 58,072 |
2019 Total funds £ 13,388 2,359 43,975 46,334 (3,844) 42,490 55,878 55,878 55,878 - 55,878 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
continued...
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Suffolk Multiple Sclerosis Therapy Centre
Trading as Suffolk Oxygen Therapy Centre
Balance Sheet - continued 31st December 2020
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.
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 31st March 2021 and were signed on its behalf by:
L M Moxon - Trustee
R E Sparling - Trustee
The notes form part of these financial statements
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements For The Year Ended 31st December 2020
1. 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.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- HBO Chamber & ancillary equipment 20% on reducing balance - Furniture, fittings & equipment 20% on reducing balance Computer equipment - 33% on cost
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements - continued For The Year Ended 31st December 2020
2. OTHER TRADING ACTIVITIES
| Fundraising events 3. INVESTMENT INCOME Bonds/Deposit account interest 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2020 £ 6,526 2020 £ 298 2020 £ 2,692 |
2019 £ 2,428 2019 £ 315 2019 £ 3,207 |
|---|---|---|
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2020 nor for the year ended 31st December 2019.
Trustees' expenses
During the year the charity paid the trustees the following amounts for reimbursements of expenses paid for on behalf of the charity:-
R Sparling £353 (2019 £598)
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements - continued For The Year Ended 31st December 2020
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2020 Administration 3 Hyperbaric Operators 6 |
2020 Administration 3 Hyperbaric Operators 6 |
2019 4 5 |
|---|---|---|
| 9 | 9 | |
| No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Treatment Other trading activities Investment income |
Unrestricted funds £ 9,465 50,414 2,428 315 |
|
| Total EXPENDITURE ON Raising funds Charitable activities Treatment |
62,622 306 93,448 |
|
| Total | 93,754 | |
| NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward |
(31,132) 87,010 |
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements - continued For The Year Ended 31st December 2020
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted funds £ |
|||
|---|---|---|---|
| TOTAL FUNDS CARRIED FORWARD |
55,878 | ||
| TANGIBLE FIXED ASSETS COST At 1st January 2020 Additions |
HBO Chamber & ancillary equipment £ 38,398 570 |
Furniture, fittings Computer & equipment equipment Totals £ £ £ 3,942 1,249 43,589 - - 570 |
|
| At 31st December 2020 | 38,968 | 3,942 1,249 44,159 |
|
| DEPRECIATION At 1st January 2020 Charge for year |
25,418 2,510 |
3,825 958 30,201 24 158 2,692 |
|
| At 31st December 2020 | 27,928 | 3,849 1,116 32,893 |
|
| NET BOOK VALUE At 31st December 2020 |
11,040 | 93 133 11,266 |
|
| At 31st December 2019 | 12,980 | 117 291 13,388 |
8. TANGIBLE FIXED ASSETS
continued...
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements - continued For The Year Ended 31st December 2020
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9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£ £
Prepayments and accrued income 1,113 2,359
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£ £
Social security and other taxes 1,701 1,751
Accrued expenses 1,846 2,093
3,547 3,844
11. MOVEMENT IN FUNDS
Net
movement At
At 1.1.20 in funds 31.12.20
£ £ £
Unrestricted funds
General fund 55,878 2,144 58,022
Restricted funds
Oxygen Regeneration Equipment - 50 50
TOTAL FUNDS 55,878 2,194 58,072
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 99,496 (97,352) 2,144
Restricted funds
Oxygen Regeneration Equipment 50 - 50
TOTAL FUNDS 99,546 (97,352) 2,194
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements - continued For The Year Ended 31st December 2020
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.1.19 in funds £ £ Unrestricted funds General fund 87,010 (31,132) |
At 31.12.19 £ 55,878 |
|---|---|
| TOTAL FUNDS 87,010 (31,132) |
55,878 |
| Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 62,622 (93,754) |
Movement in funds £ (31,132) |
| TOTAL FUNDS 62,622 (93,754) |
(31,132) |
| A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1.1.19 in funds £ £ Unrestricted funds General fund 87,010 (28,988) Restricted funds Oxygen Regeneration Equipment - 50 |
At 31.12.20 £ 58,022 50 |
| TOTAL FUNDS 87,010 (28,938) |
58,072 |
continued...
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements - continued For The Year Ended 31st December 2020
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Oxygen Regeneration Equipment |
Incoming Resources Movement resources expended in funds £ £ £ 162,118 (191,106) (28,988) 50 - 50 |
|---|---|
| TOTAL FUNDS | 162,168 (191,106) (28,938) |
A Risk Assessment has been undertaken by the Charity into the formation of a Reserves Policy.This has identified several potential medium/high impact risks, although they have been assessed mainly to be in the low/medium likelihood category.An overall Reserves figure of £25,000 is deemed appropriate.
12. RELATED PARTY DISCLOSURES-CONFLICTS OF INTEREST
A relative (an employee) of one of our Trustees earned in wages £3,355.88 during 2020. This was fully justified and necessary to ensure the smooth running of the Centre. The Chairman and Treasurer of the Centre, jointly and separately oversee each relevant wages payment and consequently, the Charity has full legal authority to pay such wages.
Any Officer or Board decision always takes into account possible conflicts of interest-e.g wage rises etc.
continued...
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements - continued For The Year Ended 31st December 2020
13. RESTRICTED FUNDS
In this year monies have been reserved for the first time for future expenditure required for Oxygen Regeneration Equipment estimated to be £50,000.
These monies are to be regarded as Restricted Funds within the Objects of the Charity.
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Detailed Statement of Financial Activities For The Year Ended 31st December 2020
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Grants Subscriptions Other income |
2020 2019 £ £ 24,143 4,296 370 1,296 25,224 - 3,835 3,625 972 248 |
|---|---|
| Other trading activities Fundraising events Investment income Bonds/Deposit account interest Charitable activities Treatment Centre Donations Treatment Centre Income |
54,544 9,465 6,526 2,428 298 315 38,178 49,839 - 575 |
| 38,178 50,414 |
|
| Total incoming resources EXPENDITURE Other trading activities Fundraising costs Charitable activities Personnel costs Rent Insurance Service charges (including Light, heat & water rates) Carried forward |
99,546 62,622 547 306 54,053 42,267 6,928 6,927 3,788 3,701 1,270 2,520 66,039 55,415 |
This page does not form part of the statutory financial statements
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Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Detailed Statement of Financial Activities For The Year Ended 31st December 2020
| Charitable activities Brought forward Equipment, maintenance & running costs Plant and machinery |
2020 2019 £ £ 66,039 55,415 24,235 31,777 2,668 3,178 |
|---|---|
| Support costs Management Office costs Telephone, postage, stationery & advertising Sundries Affiliation fees Travel Conference Costs Fixtures and fittings |
92,942 90,370 1,110 706 1,748 1,018 28 35 400 400 26 188 - 204 24 29 |
| Governance costs Accountancy and legal fees Professional fees |
3,336 2,580 492 463 35 35 |
| 527 498 |
|
| Total resources expended | 97,352 93,754 |
| Net income/(expenditure) | 2,194 (31,132) |
This page does not form part of the statutory financial statements
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