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 2022
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 2022
| 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 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
Suffolk Multiple Sclerosis Therapy Centre
Trading as Suffolk Oxygen Therapy Centre
Report of the Trustees For The Year Ended 31st December 2022
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 2022. 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 Mrs E F Sims Mrs L M Moxon Chairperson G P Moxon Secretary Mrs A Howlett Mrs L Banks S Glinos (appointed 3/3/2022)
Company Secretary
G P Moxon
Page 1
Suffolk Multiple Sclerosis Therapy Centre
Trading as Suffolk Oxygen Therapy Centre
Report of the Trustees For The Year Ended 31st December 2022
REFERENCE AND ADMINISTRATIVE DETAILS 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 6th April 2023 and signed on its behalf by:
Mrs L M Moxon - Trustee
Page 2
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 2022.
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.
Page 3
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
11th April 2023
Page 4
Suffolk Multiple Sclerosis Therapy Centre
Trading as Suffolk Oxygen Therapy Centre
Statement of Financial Activities For The Year Ended 31st December 2022
| 2022 Unrestricted Restricted Total funds fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 147,839 - 147,839 Other trading activities 2 2,743 - 2,743 Investment income 3 35 - 35 Total 150,617 - 150,617 EXPENDITURE ON Raising funds 600 - 600 Charitable activities Therapy 113,850 - 113,850 Total 114,450 - 114,450 NET INCOME 36,167 - 36,167 RECONCILIATION OF FUNDS Total funds brought forward 74,198 50 74,248 TOTAL FUNDS CARRIED FORWARD 110,365 50 110,415 |
2021 Total funds £ 93,910 4,205 - |
|---|---|
| 98,115 | |
| 770 81,169 |
|
| 81,939 | |
| 16,176 58,072 |
|
| 74,248 |
The notes form part of these financial statements
Page 5
Suffolk Multiple Sclerosis Therapy Centre
Trading as Suffolk Oxygen Therapy Centre
Balance Sheet 31st December 2022
| Unrestricted Restricted funds fund Notes £ £ FIXED ASSETS Tangible assets 8 7,066 - CURRENT ASSETS Cash at bank 112,287 50 CREDITORS Amounts falling due within one year 9 (8,988) - NET CURRENT ASSETS 103,299 50 TOTAL ASSETS LESS CURRENT LIABILITIES 110,365 50 NET ASSETS 110,365 50 FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
2022 Total funds £ 7,066 112,337 (8,988) 103,349 110,415 110,415 110,365 50 110,415 |
2021 Total funds £ 8,832 68,396 (2,980) 65,416 74,248 74,248 74,198 50 74,248 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 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
Page 6
continued...
Suffolk Multiple Sclerosis Therapy Centre
Trading as Suffolk Oxygen Therapy Centre
Balance Sheet - continued 31st December 2022
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 6th April 2023 and were signed on its behalf by:
L M Moxon - Trustee
G P Moxon - Trustee
The notes form part of these financial statements
Page 7
Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements For The Year Ended 31st December 2022
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
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...
Page 8
Suffolk Multiple Sclerosis Therapy Centre
Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements - continued For The Year Ended 31st December 2022
2. OTHER TRADING ACTIVITIES
| Fundraising events 3. INVESTMENT INCOME Interest receivable - trading 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Deficit on disposal of fixed assets |
2022 £ 2,743 2022 £ 35 2022 £ 1,766 - |
2021 £ 4,205 |
|---|---|---|
| 2021 £ - |
||
| 2021 £ 2,208 226 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the year ended 31st December 2021.
Trustees' expenses
During the year the charity paid the trustees the following amounts for reimbursements of expenses paid for on behalf of the charity:-
L Banks £0 (2021: £24) A Howlett £0 (2021:£11) L Moxon £801
G Moxon £88
continued...
Page 9
Suffolk Multiple Sclerosis Therapy Centre
Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements - continued For The Year Ended 31st December 2022
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2022 Administration 3 Hyperbaric Operators 4 7 No employees received emoluments in excess of £60,000. 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 93,910 - Other trading activities 4,205 - Total 98,115 - EXPENDITURE ON Raising funds 770 - Charitable activities Therapy 81,169 - Total 81,939 - NET INCOME 16,176 - RECONCILIATION OF FUNDS Total funds brought forward 58,022 50 TOTAL FUNDS CARRIED FORWARD 74,198 50 |
2021 3 6 9 Total funds £ 93,910 4,205 98,115 770 81,169 81,939 16,176 58,072 74,248 |
2021 3 6 9 Total funds £ 93,910 4,205 98,115 770 81,169 81,939 16,176 58,072 74,248 |
|---|---|---|
| 98,115 | ||
| 770 81,169 |
||
| 81,939 | ||
| 16,176 58,072 |
||
| 74,248 |
continued...
Page 10
Suffolk Multiple Sclerosis Therapy Centre
Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements - continued For The Year Ended 31st December 2022
8. TANGIBLE FIXED ASSETS
| 8. | TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|---|
| HBO | ||||||
| Chamber & | ||||||
| ancillary | ||||||
| equipment | ||||||
| £ | ||||||
| COST | ||||||
| At 1st January 2022 and | ||||||
| 31st December 2022 | 38,968 | |||||
| DEPRECIATION | ||||||
| At 1st January 2022 | 30,136 | |||||
| Charge for year | 1,766 | |||||
| At 31st December 2022 | 31,902 | |||||
| NET BOOK VALUE | ||||||
| At 31st December 2022 | 7,066 | |||||
| At 31st December 2021 | 8,832 | |||||
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 2022 | 2021 | |||||
| £ | £ | |||||
| Trade creditors | 6,739 | 1,480 | ||||
| Social security and other taxes | 1,169 | 990 | ||||
| Accrued expenses | 1,080 | 510 | ||||
| 8,988 | 2,980 | |||||
| 10. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At 1.1.22 | in funds | 31.12.22 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 74,198 | 36,167 | 110,365 | |||
| Restricted funds | ||||||
| Oxygen Regeneration Equipment | 50 | - | 50 | |||
| TOTAL FUNDS | 74,248 | 36,167 | 110,415 |
continued...
Page 11
Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements - continued For The Year Ended 31st December 2022
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 150,617 TOTAL FUNDS 150,617 Comparatives for movement in funds At 1.1.21 £ Unrestricted funds General fund 58,022 Restricted funds Oxygen Regeneration Equipment 50 TOTAL FUNDS 58,072 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 98,115 TOTAL FUNDS 98,115 |
Resources Movement expended in funds £ £ (114,450) 36,167 (114,450) 36,167 Net movement At in funds 31.12.21 £ £ 16,176 74,198 - 50 16,176 74,248 Resources Movement expended in funds £ £ (81,939) 16,176 (81,939) 16,176 |
|---|---|
continued...
Page 12
Suffolk Multiple Sclerosis Therapy Centre
Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements - continued For The Year Ended 31st December 2022
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.1.21 | in funds | 31.12.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 58,022 | 52,343 | 110,365 | |
| Restricted funds | ||||
| Oxygen Regeneration Equipment | 50 | - | 50 | |
| TOTAL FUNDS | 58,072 | 52,343 | 110,415 |
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 TOTAL FUNDS |
Incoming resources £ 248,732 248,732 |
Resources Movement expended in funds £ £ (196,389) 52,343 (196,389) 52,343 |
|---|---|---|
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.
continued...
Page 13
Suffolk Multiple Sclerosis Therapy Centre Trading as Suffolk Oxygen Therapy Centre
Notes to the Financial Statements - continued For The Year Ended 31st December 2022
11. RELATED PARTY DISCLOSURES-CONFLICTS OF INTEREST
There were no related party transactions for the year ended 31st December 2022.
12. RESTRICTED FUNDS
In this year monies have been reserved for the first time for future expenditure required for Oxygen Regeneration Equipment estimated to be £150,000.
These monies are to be regarded as Restricted Funds within the Objects of the Charity.
Page 14
Suffolk Multiple Sclerosis Therapy Centre
Trading as Suffolk Oxygen Therapy Centre
Detailed Statement of Financial Activities For The Year Ended 31st December 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Grants Subscriptions Other trading activities Fundraising events Investment income Interest receivable - trading Total incoming resources EXPENDITURE Other trading activities Fundraising costs Charitable activities Personnel costs Rent Insurance Service charges (including Light, heat & water rates) Postage and stationery Equipment, maintenance & running costs Training Costs Plant and machinery Support costs Management Office costs Carried forward |
2022 £ 114,893 - 28,941 4,005 147,839 2,743 35 150,617 600 46,662 6,928 4,168 3,970 40 41,438 - 1,766 104,972 7,575 7,575 |
2021 £ 84,142 482 3,795 5,491 |
|---|---|---|
| 93,910 4,205 - |
||
| 98,115 770 38,468 6,928 4,758 1,964 812 21,086 387 2,208 |
||
| 76,611 3,018 3,018 |
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 2022
| Management Brought forward Telephone, postage, stationery & advertising Affiliation fees Finance Loss on sale of tangible fixed assets Governance costs Accountancy and legal fees Total resources expended Net income |
2022 £ 7,575 583 300 8,458 - 420 114,450 36,167 |
2021 £ 3,018 504 300 |
|---|---|---|
| 3,822 226 510 |
||
| 81,939 | ||
| 16,176 |
This page does not form part of the statutory financial statements
Page 16