RegisteTed number: 02345074
Company Number .701740
The South Wales Multiple Sclerosis Therapy Centre
Limited Company
Limited by Guarantee
Unaudited Financial Statements
31" March 2025
First 4 EnteTpiise Ltd TIA BuSin￿S Sense
M.I.C.B Pm.Dip
The Business C¢ntre
I Peniel Green Road
Llansamlet
Swansea
SA7 9AP

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31 March 2025
Contents
Information
Strncture, Governance and Management
Chairmans, Report
A¢¢ountant's Report
Income and Expenditure Account for the year ended 315t March 2025
Statement of Financial Position as of 315t March 2025
io
li
Notes
12
Detailed Statement for Financial Activities Year Ended 31 March 2025
Detalled Statement of Financial Activities Continued
20
21

The South Wales Multiple Sclerosis Therdpy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31 March 2025
Information
The trustees, who are also the directors for the purpose of company law, present their report
and the unaudited financial statements of the Charity for the ycar ended 31° March 2025.
Directors/Trustees
Mrs Jeanette Hamilton Jones
Mr Philip James
Mrs Euryl James
Mr Steven Burton
Mr Leigh Stevens
Mr David Denton
Mrs Katherine Denton
Christine Jones
Mr Peter Lock
Mr Phillip Jones
Ms Chamjine Greig
Secretary
Ms Charniine Greig
Company Number
02345074
Charity Number
701740
Registered Office
Swansea Oxygen Clinic
St Marys Court
Swansea
SAI 7DA
Accountsnts
Sense
First 4 Enterprise Ltd TIA Business
M.I.C.B Pm.Dip
The Business Centre I Peniel Green
Road Llansamlet
Swansea
SA7 9AP

The South Wales Multiple Scler05is Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31 March 2025
Structure, Governance Management
Bankers
The Co-operative BaDk PIC
POBOX 101
l Balloon Street
Manchester
Alderniore
si
l Floor, Block B
Westem House
Lynch Road
Peterborough
PE2 6FZ
M60 4EP
Govering Document
The South Wales Multiple Sclerosis Therapy CentTe Limited is a charitable company limited
by guarantee, incorporated on 8th February 1989. The Company was established under a
Memorandum of Association which established the objects and powers of thc charitable
company and is governed undei its Articles of Association. In the event of the Company being
wound up the membcrs are required to contribute an amount not exceeding £1.
Recruitment and Appointment of Trustees
The directors of the Company are also charity trustees for the putposes of charity law. Under
the requirements of the Memorandum and Articles of Association all members of the
man2gement committee retlre at the Annual General Meeting and sitting members who are
eligible may declare their intention to stand for Te-election.
Objectives and Activities
The objects for which the Charity is founded are defined in its Memorandum and Articles of
Association. The objectives which forni the CharRty's main activities including aiding and
improving for the public benefit in the Area of Benefit the condition of those suffering from
Multiple Sclerosis and by providing therapy (including hyperbaric oxygen therapy) for persons
suffering from Multiple Sclerosis or other symptoms and conditions.
The other main activity is to collect and organise the collections of funds foi furthering the
Principal Objects of the Charity by advertisements, lectures, exhibitions. enfrrtaintnenL
sporting events, promotions. lotteries, appeals, grant applications and to receive donations and
subscriptions.
Whilst the Charity has actively provided therapy for persons with Multiple Sclerosis, peTson5
with other conditions have been afforded hyperbaric oxygen therapy. These conditions included
sport injuries, diabetes, spina] injury. cerebTal palsy, children with autism and stroke vtctims.

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31 March 2025
The Charity continues to be a member of Oxygen Helplin¢ UK, which is its lifeline for
inforniation and support. Close liaison is also maintained with other similar Therapy Centres
tbroughout the United Kingdom on Centre-reIated matters.
The Centre continues to make available hyperbaric oxygen theiapy, physiotherdpy as well as
other complimentary therapies, and a positive outlook foi people with Multiple Sclerosis and
other conditions in its area of benefit.

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31" March 2025
Chairnians, Report
For my ninth consecutive chaiTpersoDS report I am once again very pleased to inform you of
yet another success￿1 year. The foorfall using the therapies available ensures a sound
financial return supported by a small but steady stream of Charitable donations, however as
suggested in last years report due to rising running costs the trustees took the difficult
decision to raise fees &s from l April 2025.
The small but committed team of staff are always very welcoming and are bighly regarded
for the care that they demonstrate to all clients. New clients are accommodated at the earliest
opportunity, with those enduring Multiple sclerosis being given a higher priority.
Mrs Christine Jones, forn]er Centre Manager and now tn￿t¢¢ and company treaswer inforn]s
me that raising fees will ensure financial stability. The completion of the loan for the new
Oxygen Chamber and equipment. Tnjstees are always willing to give consideration for new
innovations to improve the centre for the benefit of clients. within our financial limitations.
The ongoing financial challenge is to secure a profitable return on our solar panels.
Charitabje fund raising is very important to keep costs as low as possible for clients. It must
therefore be stressed that all clients need to be aware of the charitable status of the MS
Centre.
As always, I would like to take this opportunity to thank my fellow trustees foT their support,
the centre staff for their commitment as well as the volunteers and fund raisers who are
vitally important. Anyone wishing to become a volunteer or fundraiser please make yourself
know to centie staff.
I would also like to invite any regular users of the centre to volunteer to become new trustecs,
to bring new ideas and refresh the current expertise.
Mally thanks
Philip lames Chairperson

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31" March 2025
Financial Review
During the year there were income resources of £126,745 and expenditure of £133,541
attributable to unrestricfrd funds giving rise to -£6,796 net incoming resources of in respect to
general funds.
At 31 st March 2025 the unrestricted general fimds amounted to £235,735 of which £171,273
is invested in fixed assets leaving £64.462 which Tepresented free reserves which can be used
in accoTdance with the charitable objects at the discretion of the Trustees.
There were no restricted funds at 31" March 2025.
Investment Policy
Under the Memornndum and Articles of Association. the Charity h&$ the pow¢r to make any
investment which the Trustees see fit. The Charity has a policy of keeping surplus liquid fiu]ds
in short-terni deposits which can be accessed readily.
Reserve Policy
The Trustees have established a policy whereby the unreslricted funds not cornmitted or
invested in tangible fixed assets ('the free reserves,) held by the Charity should be between
three and six months of resources expended, which equates to approximately £25,000 to
£40,000 in general funds. At this level the Trustees feel that the current activities of the Charity
would be able to continue in the event of a significant drop in funding. It would obviously be
necessary to consider how the funding would be replaced or activities changed. At present the
free reserves amount to £70,065 which are in excess of the range of funds detennined to be
required. The policy is constantly under review to ensure that the minimum free reserves
retained are sufficient to ensure the uninterrupted continulty of the Chartty's activities.
Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies
entitled to the small companies exemption.
The Trustees, annual report was approved on ....
on behalf of the Board of Trustees by:
/.7./As..............
and signed
Mr Phillip Jajnes ChairniaD

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31 March 2025
Accountantys Report
I report to the Trustees on my examination of the financial statements of The South Wales
Multiple Sclerosis Therapy Centre Limited for the year ended 31" March 2025.
As the Trustees of the Company (and also its dir¢ctors for the purposes of Company law) you
are responsible for the preparation of the fmancial statements in accordance with the
requirements of the Companies Act 2006. Having satisfied myself that the accounts of the
Company are not required to be audited under Part 16 of the Companies Act 2006 and are
eligible for independent examination, l report in respect of my examination of the Charity's
accounts as Ca￿led out under Section 145 of the Charities Act 2011. In carrying out my
examination I have followed the Directions given by the Charity Conmnission under Swtion
145(5)(b) of the Charities Act 2011.
We have not been instructed to carry out an audit of the fmancial statements. For this Teason.
we have not verified the accuracy or completeness of the accounting iecords or inforn]ation
and ¢xplanations you have given to us. and we do not. therefore. express any opinion on the
financial statements.
Signed
Colin Grey
First 4 Enterprise Ltd TIA Business Sense
M.I.C.B Pm.Dip
The Business Centre
I Peniel Green Road
Llansamlet
Swansea
SA7 9AP

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31 March 2025
5t
Income and Expenditure Account for the year ended 31 March 2025
Notes
Unrestricted
Total
Income and Endowments
Donations and Legacies
112.668
I l2,668
Other Trading Activities
16,232
16.232
Invesknent Income
1,363
1,363
Other Income
1,389
Total Income
131,652
131652
Expenditure
Charitable Activiti
126,091
126,091
Total Expenditure
126,091
Net Income & Movements ID Funds
5,561
5.561
Reconciliation of Funds
Totak funds brought forward
2J9 154
219,154
Total funds carried forward
224,715
224,715

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31" March 2025
Statement of Financial Position as of 31 March 2025
2025
2024
Fixed Assets
Tangible Fixed Assets
13
170 692
I70,692
171,273
171,273
Current A55ets
Cash at Bank
48,038
64.926
Creditors Tyithin one year
Net Current Assets
14
811
464
47,227
64,462
Net Assets
217 919
235 735
Funds of the Charity
Unrestricted Funds
Long Term Liabilities
217,919
224,715
11,020
235,735
217,919

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31 March 2025
Notes
l. General Information
The Charity is a public benefit elltity and a private company limited by guarantee, registered
in England and Wales and a registered charity England and Wales. The address of the registered
office is Swansea Oxygen Clinic, St Mary's Court, Winch Wen Industrial Estate, EnteTprise
Park. Swansea. SAI 7DA.
2. Statement of Compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable to charities preparing their accounts in accordance wÉth the
Financial Reporting Standard applicable ill the UK and Republic of Ireland (FRS 102)
(Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting Policies
Basis of preparation
Company status
The charity is a Company limited by guarantee. In th¢ event of the charity being wound up, th¢
liability in respect of the guarantee is limited to a maxitnum of £1 per member of the Charity.
Fund Accounting
Funds held by the Charity are either".
Unrestricted Funds: fimds which are available for us¢ at the discretion of the Trustees in
furtherance of the general objectives of the charity.
Restricted Funds: funds which are subject to restrictions on their expenditure imposed by the
donoT or through the tern]s of an appea].
Ineoming Resources
All incoming resouTces are included in the Statement of Financial Activities when the ChaTity
is entitled to the income and an amount can be quantified with reasonable accuracy. The
following specific policies are applied to particular income categories:
> Voluntary income is received by way of grants, donations and gifts and is included in
full in the Statement of Financial Activities when receivable. Grants, where entitlement

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31" March 2025
is not conditional on the delivery of specific perforniance by the ChaTity, are recognised
when the Charity becomes unconditionally entitled to the Grdnt.
> Donated services and facilities are included in the Statement of Financial Activities at
the value to the Charity where this can be quantified. The value of services provided by
volunteers has not been included in these financial statements.
> Investment income is included in the Statement of Financial Activities when rcceivable.
> Incoming resources from ￿ants. where related to perforniance and specific
deliverables, are included in the Statement of Financial Activities as the Charity earns
the right to the consideTation by its perfOn)￿llce.
Resources Expended
Resources expended are included in the Statement of Financial Activities on an accrual basis
as a liability is incurred. Expellditure includes VAT which cannot be recovered and is reported
as part of the expenditure to which it relates:
> Costs of generdting funds comprise the costs associated with the attracting of voluntary
income.
> Charitable expenditUTe comprises those costs incurred by the Charity in the delivery of
its activities and services for its beneficiaries. It includes both costs that can be allocated
directly to such activities and those costs of an indirect nature necessary to support
them.
> Governance costs include those costs associated with meeting the constitutional and
statutory requiTements of the Charity and include accountancy fees and costs linked to
the strategic management of the Charity.
> All costs are allocated between the categories on the Statement of Financial Activities
on a basis dcsigned to reflect the use of the resource. Costs directly attributable to
specific activities and have been included in those cost categories. Other goods, which
are attributable to more than one activity, are apportioned across cost categorie5 on the
basis of an estimate of the proportion of time spent by staff on those activities or other
appropriate basis.
Going Concern
There are no material uncertainties about the Charitys ability to continue.
Judgments and Key sources of estimation uncertainty
The preparation of the Financial Statements requires managcment to make judgements,
estimates and assumptions that affect the a￿ountS reported. These estimates and judgements
are continually reviewed and are based on experience and other factors, including expectations
of future events that are believed to be reasonable under the circUmsL￿res.

The South Wales Multiple Scler05is Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31" March 2025
Fund Accounting
Unrestricted filnds are available for use at the discretion of the Trustees to further any of the
Charity's purposes.
Designated funds are unrestricted funds eaTmarked by the Trnstees for a particular future
project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the tern]s of appeal and fall into one of two sub-classes: restricted income funds or
endowment funds.
Ineoming Resources
All incoming resources aTe included in the Statement of Financial Activities when entitlement
has passed to the Charity. it is probable that the economic benefits associated with tlie
transaction will flow to the Charity and the amount can be reliably measured. The following
specific policies are applied to particular categories of incotne:
> Income from donations or grants IS Tecognised when there is evidence of entitlcment to
the gift. receipt is probable. and its amount can be measured Teliably.
> Legacy income is recognised when Teceipt is probable, and entitlement is estsblished.
> Income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliable. in which case the value is derived from the cost to the
donor or the estimated resale value. Donated facilities and services are recognised in
the accounts when received if the value can be reliably measured. No ￿￿Ounts are
included for the contribution of general voluntcers.
> Income from contracts for the supply of services is recognlsed with the delivery of the
contracted service. This is classified as unrestricted funds ullless there is a contractual
requirement for it to be spent on a particular pury)ose and returned if unspenL in which
case it may be regarded as restricted.
Resources Expended
Expenditure is recognised on an accruals basis as a liability is incu￿ed. Expenditure includes
any VAT which cannot be fully recovered, and is classified UDder the headings of the Statement
of Financial Activities to wbich it relates:
> Expenditure on raising funds includes the costs of all fundraising activities, events, non-
charitsble trading activities, and the sale of donated goods.
> Expenditure on charitable activities includes all costs incurred by a Charity in
undertakillg activities that further its charitable aims for the benefit of its beneficiaries,
including those support costs and costs relating to the governaiice of the Charity
apportioned to charitable activities.
> Other expenditure includes all expenditure that is neither related to raising funds for the
Charity nor part of its expenditure on Ch￿itable activities.

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31 March 2025
> All costs are allocated to expenditurc categories reflecting the use of the resource.
Direct costs attributable to a single activity are allocated directly to that activity. Shared
costs aTe apportioned between the activities they contribute to on a reasonable,
justifiable, and Consistent basis.
T&ngfible Fixed Assets
All fixed assets are recorded at cost.
Depreciation
Depreciation is calculated to write off the cost or valuation of an asset, less its residual value,
over thc useful economic life of that asset as follows:
Fixtures and Fittings
25 % Straight line
33 % straight line
Straight line over life expectancy (40 years)
Straight line over life expectancy (20 years)
Premises Altemations
N¢w Oxygen Chamber
New Oxygen Generator
Impairment of Fixed Assets
For the puqioses of impairnlent testing, when it is not possible to estimate the recoverable
amount of an individual &sseL an estimate is made of the recoveIablc amount of the cash-
generating unit to which the asset Ixlongs. The cash-g¢nerating unit is the smallest identifiable
oup of asscts that includes the asset and gencrates casb inflows that largely indepcndellt of
the cash infiows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and
sell. Cost includes all costs ofpurchase, costs of conversion and other costs incU￿ed in bringing
the stock to its present location and condition.
Financial Instruments
A financial asset or a financial liability is recognised only wh¢n the Charity becomes a paty to
the contractual piovisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable
including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31" March 2025
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairnient at th¢ end of each reporting date. If theTe is objective evidence of impairment,
an impairnient loss is recognised under the appropriate heading in the Statement of Financial
Activities in which the initial gain was recognised.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the relatsd service is provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions ar¢ not expected to be settled wholly within 12 montlis of tlie end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as expense in
the period in which it arises.
4. LiDiited by Guarantee
The South Wales Multiple Sclerosis Therapy Centre Limited is a charitable company limited
by guarantee, incorporated on 8th February 1989. The Company was established under a
Memorandum of Association whicb established the objects and powers of the charitable
company and is governed under its Articles of Association. In the event of the Company being
wound up the members are required to contribute an amount not exceeding £1.
5. Donatiolls and Legacies
2025 Funds
Unrestricted
Total
Donations
Donations and other fi￿d[aiSing activities
112,255
112,255
112255
112,255
6. Other Trading Activities
2025 Funds
Unrestricted
Total
Sale of Goods
Subscriptions
Rent (Ultrasound)
1,232
6,810
2,600
10,642
1,232
6,810
2,600
10.642

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31 March 2025
7. Investment Income
2025 Funds
Total
Unrestricted
1,524
1.524
Bank Interest Received
1,524
1.524
8. Other Income
2025 Funds
Unrestricted
Total
Miscellaneous Encome
2,324
2,324
2,324
9. Expenditure on Charitsble Activities
2025 Funds
Unrestricted
Total
Direct charitable activities
128,297
128,297
Interest payable and similar charges
5,244
5,244
133,541
133,541
10. Staff Costs
2025 Fund5
Unrestricted
69,660
Total
Wages and Salari¢s
Pensions
69,660
2,821
72,481
72.481
The average head count of employecs during the year w&8 6.
No employee received benefits of more than £60,000 during the year.

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 315t March 2025
11. Net Income
2025 Fund5
Unrestricted
581
1,036
1,617
Total
581
1,036
Depreciation of fixed assets
Operating lease
12. Accountancy Fees
2025 Fund5
Total
Unrestricted
648
648
Accountant fees
648
648
13. Tangible Fixed Assets
Land & Property
Fixtur￿ & Fitting5
Total
Cost
As at l April 2024
As at 31 March 2025
206,718
206.718
257 342
257,342
50,624
Depreciation
As at l April 2024
Provided dwing the year
As at 31 March 2025
37,767
48,302
581
48,883
86,069
581
86,650
37,767
Net Book Value
As at l April 2024
As at 31 March 2025
168,951
168,951
1,741
2,322
170,692
171,273
14. Credltors
2025 Funds
Total
Unrestricted
553
258
Other Taxes and S(Kial Security
AccNaEs and Deferred Income
553
258
811
811
15. Trustee Remuneration and Expense5
No TemuneIations or other benefits from employment with the charity or a related party were
received by the Trustees.

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31" March 2025
16. Pensions and Other Post Retirement Benefits
The amount recognised in the financial statements is an expense relating to the defined
contribution plan was £2.821.
17. Analysis of Charitable Funds
Unrestricted Funds
0110412024
224,715
Income Expenditure 3110312025
131,652
133,541
217,919
General Funds

The South Wales Multiple Sclerosis Therapy Centre Limited
Company Limited by Guarantee
Unaudited Financial Statements for Year Ended 31 March 2025
Detailed Statement for Financial Activities Year Ended 31st March 2025
Income and Endowments
Donations and Legacies
Donation5 and Fundraising Activities
112255
112
55
Other Trading Activities
Sale of Goods
Subscriptions
Rent (Ultrasound)
1,232
6.810
2,600
10,642
Investment Income
Bank Interest Received
1.524
63
Other Income
Miscellaneous Income
2,324
1,389
Total Income
125,649

The South Wales Multiple Sclerosis Therapy Centre Limited
Cornpany Limited by Guarantee
Unaudited Financial Statements for Year Ended 31 March 2025
Detaxjed Statement of Financial Activities Continued
Expenditure
Charitable ActfivAtfies
Purchases
Membership Fees
Wages and Salaries
Employ¢r Nl
Pensions
Staff Training
Rent
Light and Heat
Repairs and Maintenance
Cleaning
Insurance
Printing> Postage and Stationery
Telecommunications
Accountancy Fee
General Expense
Bank Interest Payable
Credit Card Charges
Operating Lease
Depieciation
Legal Expense
1.290
730
69.660
6.653
2.821
25.000
8,135
2,425
204
6,974
249
1,230
648
1,697
3,277
931
1.036
581
133,541
Net Income
6,796

The South Wales Muhlple Sdenjsls Therapy Centre Umited
Company UD*d by GuaTrntee
Unaudlted Hnandal Statements for Year Ended 31° March 2015
Detalled Statement of Trlnandal Acdyldu Continued
730
and SthrifA
Empkn)v
633
Lighi •nd Hwl
&135
1425
974
249
1230
1ffj97
3277
931
l.036
581
133
N•t l*t•mo