Charity registration number 701138
Company registration number 2320258 (England and Wales)
MIDDLESBROUGH MS THERAPY CENTRE LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
MIDDLESBROUGH MS THERAPY CENTRE LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
MrA Riddiough Mrs. E Holmes Mrs. C Grimston Mr. M Coulson Mrs S Potts
Charity number 701138
Company number 2320258
Registered office
Unit B1 Stadium Court Wallis Road, Skippers Lane Industrial Estate Middlesbrough United Kingdom TS6 6JB
Independent examiner
Azets Audit Services Wynyard Park House Wynyard Avenue Wynyard United Kingdom TS22 5TB
MIDDLESBROUGH MS THERAPY CENTRE LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees Report report | 1-2 |
| Statement ofTrustees Report responsibilities | 3 |
| Independent examiner's report | 4 |
| Statement offinancial activities | 5 |
| Balance sheet | 6 |
| Notestothefinancialstatements | 7-13 |
MIDDLESBROUGH MS THERAPY CENTRE LIMITED TRUSTEES REPORT REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their annual report and financial statements for the year ended 31 December 2023.
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 Memorandum and Articles of association, 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 treland (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 deficit of £2609 on unrestricted funds(2022: surplus £5939) which has decreased the unrestricted reserves balance from £91046 to £88437.
The Management Committee consider it prudent to maintain free reserves equivalent to approximately six months operating costs (around £30000 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 2023, free reserves amounted to £88424, 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 have 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:
MrA Riddiough
Mrs. E Holmes
Mrs. J Jenkins (Resigned 23 June 2023) Mrs. C Grimston Mr. M Coulson Mr. K Sedgwick (Resigned 20 June 2023) Mrs. M Sedgwick (Resigned 20 June 2023) Mrs S Potts
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.
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MIDDLESBROUGH MS THERAPY CENTRE LIMITED
TRUSTEES REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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 report was approved by the Board of Trustees. Mr A RiddioughSot
7 May 2024
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MIDDLESBROUGH MS THERAPY CENTRE LIMITED
STATEMENT OF TRUSTEES REPORT RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees, who are also the directors of Middlesbrough MS Therapy Centre Limited for the purpose of company law, are responsible for preparing the Trustees Report 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 which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
~ select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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MIDDLESBROUGH MS THERAPY CENTRE LIMITED
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MIDDLESBROUGH MS THERAPY CENTRE LIMITED
| 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 2023.
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, | 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 | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
| have completed my examination. | confirm that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 2 _ the financial statements do not accord with those records; or 3 the financial statements 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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4 the financial statements 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 Iretand (FRS 102).
| 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.
Graham Fitzgerald BAFCA DChA
Azets Ve Services
Wynyard Park House
Wynyard Avenue Wynyard TS22 5TB United Kingdom
Dated: 22 May 2024
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MIDDLESBROUGH MS THERAPY CENTRE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted | Unrestricted | Restricted | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2023 | 2022 | 2022 | 2022 | ||
| Notes | £ | & | £ | £ | |
| Income from: | |||||
| Donations and legacies | 3 | 42,623 | 50,285 | - | 50,285 |
| Othertrading activities | 4 | 14,754 | 11,482 | - | 11,482 |
| Investments | 5 | 795 | 68 | - | 68 |
| Total income | 58,172 | 61,835 | - | 61,835 | |
| Expenditure on: |
|||||
| Charitable activities | 6 | 60,781 | 55,896 | 2,000 | 57,896 |
| Net(expenditure)/income forthe year/ | |||||
| Netmovement in funds | (2,609) | 5,939 | (2,000) | 3,939 | |
| Fund balances at 1 January2023 | 91,046 | 85,107 | 2,000 | 87,107 | |
| Fundbalancesat31December2023 | 88,437 | 91,046 | - | 91,046 |
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,
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MIDDLESBROUGH MS THERAPY CENTRE LIMITED
BALANCE SHEET AS AT 31 DECEMBER 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 10 | 13 | 22 | ||
| Current assets | |||||
| Debtors | 11 | 6,441 | 6,038 | ||
| Cash at bankand in hand | 84,066 | 90,870 | |||
| 90,507 | 96,908 | ||||
| Creditors: amounts falling due within | |||||
| oneyear | 12 | (2,083) | (5,884) | ||
| Netcurrentassets | 88,424 | 91,024 | |||
| Total assets less current liabilities | 88,437 | 91,046 | |||
| Income funds | |||||
| Unrestricted funds | 88,437 | 91,046 | |||
| 88,437 | 91,046 |
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 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
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The£ oe were approved by the Trustees on 7 May 2024
Mr
A Riddiough
Trustee
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Company registration number 2320258
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MIDDLESBROUGH MS THERAPY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
- 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, United Kingdom.
- 1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (“FRS 102”) and the Charities SORP "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 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. 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.
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MIDDLESBROUGH MS THERAPY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
(Continued)
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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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 the statement of financial activities.
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.
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MIDDLESBROUGH MS THERAPY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 Accounting policies
(Continued)
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 payments 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.
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 | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2022 | |||
| ey | £ | |||
| Donations | and | gifts | 42,623 | 50,285 |
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MIDDLESBROUGH MS THERAPY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
4 Other trading activities
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Unrestricted|Unrestricted|
|funds|funds|
|2023|2022|
|£|£|
|Membership|subscriptions|and|sponsorships which|are|in|substance|a|payment|
|for goods|and|services|1,200|1,200|
|Fundraising|events|13,554|10,282|
|Other trading|activities|14,754|11,482|
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5 Investments
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|||||
|---|---|---|---|
|Unrestricted|Unrestricted|
|funds|funds|
|2023|2022|
|£|£|
|Interest|receivable|795|68|
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MIDDLESBROUGH MS THERAPY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
6 Charitable activities
| Medical Costs |
Support OtherCosts Costs |
Support OtherCosts Costs |
Total 2023 |
Total 2022 |
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Staffcosts | 11,200 | - | 1,800 | 13,000 | 12,921 |
| Depreciation and impairment | 9 | - | - | 9 | 24 |
| ProfessionalAssistance | 17,426 | - | - | 17,426 | 17,649 |
| Oxygen | 4,517 | - | - | 4,517 | 3,505 |
| Equipment Maintenance | (2,005) | - | - | (2,005) | 5,382 |
| General Office | - | 8,136 | - | 8,136 | 5,785 |
| Rent, Insurance etc | - | 17,291 | ~ | 17,291 | 9,293 |
| Legal | - | (140) | - | (140) | 740 |
| Public Fundraising | - | 940 | - | 940 | 970 |
| Accountancy | - | - | 870 | 870 | 876 |
| Payroll Processing | - | - | 353 | 353 | 312 |
| Companies House Fees | - | - | 13 | 13 | 13 |
| Bank Charges | - | - | 371 | 371 | 426 |
| 31,147 | 26,227 | 3,407 | 60,781 | 57,896 | |
| 31,147 | 26,227 | 3,407 | 60,781 | 57,896 | |
| Analysis by fund | |||||
| Unrestricted funds | 31,147 | 26,227 | 3,407 | 60,781 | |
| 31,147 | 26,227 | 3,407 | 60,781 | ||
| Forthe yearended 31 December 2022 | |||||
| Unrestricted funds | 35,633 | 16,788 | 3,475 | 55,896 | |
| Restricted funds | 2,000 | - | - | 2,000 | |
| 37,633 | 16,788 | 3,475 | 57,896 |
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 (2022 : £12000 plus £600 pension contributions).
8 Employees
The average monthly number of employees during the year was:
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2023 2022
Number Number
Centre Manager 1 4
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MIDDLESBROUGH MS THERAPY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
8 Employees
| Employees | (Continued) | |
|---|---|---|
| Employment costs | 2023 | 2022 |
| £ | £ | |
| Wages and salaries | 12,400 | 12,321 |
| Other pension costs | 600 | 600 |
| 13,000 | 12,921 |
There were no employees whose annual remuneration was more than £60,000.
9 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
10 Tangible fixed assets
| 10 | Tangible fixed assets | ||
|---|---|---|---|
| Plantand equipment | |||
| £ | |||
| Cost | |||
| At 1 January2023 | 40,819 | ||
| At 31 December2023 | 40,819 | ||
| Depreciation and impairment | |||
| At 1 January2023 | 40,797 | ||
| Depreciation charged in the year | 9 | ||
| At 31 December2023 | 40,806 | ||
| Carrying amount | |||
| At 31 December 2023 | 13 | ||
| At 31 December 2022 | 22 | ||
| 11. | Debtors | ||
| 2023 | 2022 | ||
| Amounts falling due within one year: | £ | £ | |
| Prepaymentsandaccruedincome | 6,441 | 6,038 |
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MIDDLESBROUGH MS THERAPY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
12 Creditors: amounts failing due within one year
| Creditors: amounts failing due within one year | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Other creditors | 90 | 90 |
| Accruals and deferred income | 1,993 | 5,794 |
| 2,083 | 5,884 |
13 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 | ||||||||
|---|---|---|---|---|---|---|---|---|
| in funds | ||||||||
| Balance at | Resources | Balance at | Incoming | Balanceat | ||||
| 1 | January 2022 | expended | January 2023 | resources | 31 December | |||
| 2023 | ||||||||
| £ | £ | £ | £ | £ | ||||
| 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.
243