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2020-12-31-accounts

Charity Registration No. 701138

Company Registration No. 2320258 (England and Wales)

MIDDLESBROUGH MS THERAPY CENTRE LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr A Riddiough Mrs E Holmes Mrs J Jenkins Mrs C Grimston Mr M Coulson Mrs J Bentley Mr K Sedgwick Mrs M Sedgwick Charity number 701138 Company number 2320258 Registered office Unit B1 Stadium Court Wallis Road Skippers Lane Industrial Estate Middlesbrough TS6 6JB Independent examiner Azets New Garth House Upper Garth Gardens Guisborough TS14 6HA

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

CONTENTS

Page
Trustees Report report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 12

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

TRUSTEES REPORT REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report and financial statements for the year ended 31 December 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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

The charity's objects are to give aid to sufferers of Multiple Sclerosis by whatever means are available . The trustess have considered the guidance issued by the Charity Commission on public benefit when reviewing is objects and activities. The principal activity of the company is the running of a treatment centre offering therapy, counselling and support to sufferers of Multiple Sclerosis.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

During the year we have continued to help people with MS, their families and carers. This is achieved through the variety of services from oxygen therapy and reflexology to counselling , which we provide from our centre.

Financial review

The company's statement of financial activities showed a surplus of £3611 (2019: surplus £14309) which has increased the reserves balance from £87037 to £90648. The 2020/21 Covid 19 pandemic has had a detrimental effect on the Therapy Centre by greatly reducing income and effecting our ability to fundraise. However the trustees continue to pursue sources of funding and keep a close eye on costs and are confident that the charity can continue.

The Management Committee consider it prudent to maintain free reserves equivalent to approximately six months operating costs (around £20000 at current levels), and for future building or removal costs. Free reserves comprise thise unrestricted reserves which are not designated or tied up in fixed assets. At 31st December 2020, free reserves amounted to £90578, which more than meets this target. However, the trustees do not feel that this is excessive, given the general difficulties on obtaining funding and the need to provide for any unexpected costs.

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee incorporated on 22nd November 1988. It is governed by its memorandum and articles of association. It was registered as a charity on 7th February 1989. On 2nd May 2012, the charity changed its name from Cleveland Friends of ARMS Limited to Middlesbrough M S Therapy Centre Limited .

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr A Riddiough Mrs E Holmes Mrs J Jenkins Mrs C Grimston Mr M Coulson Mrs J Bentley Mr K Sedgwick Mrs M Sedgwick

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

TRUSTEES REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

The directors of the company are also the charity trustees for the purposes of charity law and under the company's articles are known as members of the management committee. Trustees are recruited from its members who comprise service users and their friends and family, who have an interest in the charity's objectives.

Trustee Induction and Training

All new trustees are aware of the charity's activities through their previous involvement. Potential trustees are provided with copies of the memorandum and articles of association and most recent accounts and financial figures before joining the committee. All trustees are encouraged to attend such external courses as are relevant to their role and are provided with relevant publications which help them keep up to date with changes in legislation.

The Trustees Report r eport was approved by the Board of Trustees.

Mr A Riddiough

Dated: 25 May 2021

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF MIDDLESBROUGH MS THERAPY CENTRE LIMITED

I report to the trustees on my examination of the financial statements of Middlesbrough MS Therapy Centre Limited (the charity) for the year ended 31 December 2020.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable 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 that in any material respect:

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 financial statements to be reached.

J Gresham FCCA

Azets

New Garth House Upper Garth Gardens Guisborough TS14 6HA

Dated: 27 May 2021

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted
Restricted
funds
funds
2020
2020
Notes
£
£
Income from:
Donations and legacies
3
21,615
2,000
Other trading activities
4
11,269
-
Investments
5
12
-
Total income
32,896
2,000
Expenditure on:
Charitable activities
6
29,285
-
Net income for the year/
Net movement in funds
3,611
2,000
Fund balances at 1 January 2020
87,037
-
Fund balances at 31 December 2020
90,648
2,000		 TotalUnrestricted
funds
2020
2019
£
£
23,615
43,149
11,269
20,198
12
27
34,896
63,374
29,285
49,065
5,611
14,309
87,037
72,728
92,648
87,037

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2020

Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within
one year
11
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
12
Unrestricted funds		 2020
£
557
95,237
95,794
(3,216)		 £
70
92,578
92,648
2,000
90,648
92,648		 2019
£
421
88,848
89,269
(2,335)		 £
103
86,934
87,037
-
87,037
87,037

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2020.

The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 25 May 2021

Mr A Riddiough Trustee

Company Registration No. 2320258

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

Charity information

Middlesbrough MS Therapy Centre Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit B1, Stadium Court, Wallis Road, Skippers Lane Industrial Estate, Middlesbrough, TS6 6JB.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment

33% per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/ (expenditure for the year , unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

1.6 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2020
2020
£
£
Donations and gifts
15,707
-
Grants Receivable
5,908
2,000
21,615
2,000
Grants receivable for core activities
JRS Grants
5,908
-
Jack Brunton Trust
-
2,000
5,908
2,000		 TotalUnrestricted
funds
2020
2019
£
£
15,707
43,149
7,908
-
23,615
43,149
5,908
-
2,000
-
7,908
-

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

4 Other trading activities

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Membership subscriptions and sponsorships which are in substance a payment
for goods and services 675 1,515
Fundraising events 3,769 16,393
Trading activity income: NHS Dive Income 6,825 2,290
Other trading activities 11,269 20,198
Investments
Unrestricted Unrestricted
funds funds
2020 2019
£ £
Interest receivable 12 27

5 Investments

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

6 Charitable activities

Medical
Costs
Support
Costs
Other Costs
£
£
£
Staff costs
10,800
-
1,800
Depreciation and impairment
33
-
-
Professional Assistance
5,248
-
-
Oxygen
2,100
-
-
Equipment Maintenance
89
-
-
General Office
-
3,160
-
Rent, Insurance etc
-
3,777
-
Public Fundraising
-
1,050
-
Accountancy
-
-
732
Payroll Processing
-
-
312
Companies House Fees
-
-
13
Bank Charges
-
-
171
18,270
7,987
3,028
18,270
7,987
3,028
Analysis by fund
Unrestricted funds
18,270
7,987
3,028
18,270
7,987
3,028
For the year ended 31 December 2019
Unrestricted funds
35,625
10,403
3,037
35,625
10,403
3,037		 Total
2020
£
12,600
33
5,248
2,100
89
3,160
3,777
1,050
732
312
13
171
29,285
29,285
29,285
29,285		 Total
2019
£
12,600
52
16,992
3,717
4,064
4,501
4,234
1,668
738
312
13
174
49,065
49,065
49,065
49,065

7 Trustees

The charity has been given permission to employ and remunerate one of its trustees in his role as centre manager. The Charity Commission permission is dated 7th December 2009. The trustee concerned is Mr A Riddiough and the total paid to him in the year was £12000 plus £600 pension contributions (2019 : £12000 plus £600 pension contributions).

8 Employees

The average monthly number of employees during the year was:

2020 2019
Number Number
Centre Manager 1 1

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

8
Employees
Employment costs
Wages and salaries
Other pension costs
There were no employees whose annual remuneration was £60,000 or more.
9
Tangible fixed assets
Cost
At 1 January 2020
At 31 December 2020
Depreciation and impairment
At 1 January 2020
Depreciation charged in the year
At 31 December 2020
Carrying amount
At 31 December 2020
At 31 December 2019
10
Debtors
Amounts falling due within one year:
Prepayments and accrued income
11
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 (Continued)
2020
2019
£
£
12,000
12,000
600
600
12,600
12,600
Plant and equipment
£
40,819
40,819
40,716
33
40,749
70
103
2020
2019
£
£
557
421
2020
2019
£
£
90
90
3,126
2,245
3,216
2,335

MIDDLESBROUGH MS THERAPY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

12 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement Movement
in funds in funds
Incoming
Balance at		 Incoming Balance at
resources
1 January 2020		 resources 31 December
2020
£
£
£		 £
Jack Brunton Trust -
-
2,000		 2,000

Purpose of Restricted Funds

Jack Brunton Trust - This fund is to be used towards refurbishment costs of the centre.

13 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2020
2020
£
£
Fund balances at 31 December 2020 are
represented by:
Tangible assets
70
-
Current assets/(liabilities)
90,578
2,000
90,648
2,000		 TotalUnrestricted
funds
2020
2019
£
£
70
103
92,578
86,934
92,648
87,037