**COMPANY REGISTRATION NUMBER: 02269310 CHARITY REGISTRATION NUMBER: 701791**
## **Wolverhampton & District M S Therapy Centre Limited Company Limited by Guarantee Financial Statements**
**31 December 2023**
## **MURAS BAKER JONES LIMITED**
Chartered accountants & statutory auditor Regent House Bath Avenue Wolverhampton West Midlands WV1 4EG
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
## **Financial Statements**
## **Year ended 31 December 2023**
||**Page**|
|---|---|
|Trustees' annual report (incorporating the director's report)|**1**|
|Independent auditor's report to the members|**6**|
|Statement of financial activities (including income and expenditure account)|**11**|
|Statement of financial position|**12**|
|Accounting policies|**13**|
|Notes to the financial statements|**16**|
**Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
**Trustees' Annual Report (Incorporating the Director's Report)**
**Year ended 31 December 2023**
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 December 2023.
## **Reference and administrative details**
**Registered charity name** Wolverhampton & District M S Therapy Centre Limited **Charity registration number** 701791 **Company registration number** 02269310 **Principal office and registered** Newbridge Therapy Centre **office** Meadow View Wharf Tettenhall Road Wolverhampton West Midlands WV6 0JT **The trustees** Mr P Williams Mr B J Woolley Mrs S M C Straughan Mr J Walters Mrs J Pemberton Mrs S Corbett Rev Dr A Roberts Mr C R Dymond Mrs L Griffiths Mr S H Griffiths (Appointed 27 July 2023) **Company secretary** D Clarke **Auditor** Muras Baker Jones Limited Chartered accountants & statutory auditor Regent House Bath Avenue Wolverhampton West Midlands WV1 4EG **Bankers** The Co-operative Bank Delf House Southway Skelmersdale WN8 6WT
**- 1 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
**Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_
**Year ended 31 December 2023**
## **Structure, governance and management**
## **Incorporation**
The company was incorporated on 20 June 1988 and took over the Wolverhampton and District Friends of A.R.M.S. (the previously unincorporated body) from 1 January 1990. The company was registered as a charity on 19 July 1989. The company changed its name to Wolverhampton & District M.S. Therapy Centre Limited from 10 June 1999. On 10 April 2019 the company changed it's name to Wolverhampton & District M S Therapy Centre Limited.
## **Trustee induction and training**
Trustees are elected and appointed annually at the AGM. Each trustee is either a patient or a person with in-depth knowledge of how the centre operates. Each trustee is issued with a copy of the Memorandum and Articles of Association and copies of the centre's Policies and Procedures. All trustees are kept up-to-date with changes in legislation.
## **Principle funding sources**
All patients are encouraged to contribute towards the cost of the treatments they receive by making a donation. The schedule of suggested contributions will be reviewed and increased to assist the centre's funding. These contributions will now be reviewed annually.
Patients, their carers and other volunteer helpers take part throughout the year in charity collections in the city centre and local supermarkets. Management and staff actively seek help from companies, clubs and other organisations to raise funds for us and to supply services and contribute equipment as the need arises. We have a small fundraising group who organise raffles, race nights, flower demonstrations and various other events to bring in funds.
## **Legal structure**
The company is limited by guarantee and therefore does not have a share capital. The liability of members is limited and details of their guarantees are given in note 3 to the financial statements.
The company is also a registered charity.
## **Fixed assets**
Acquisitions of fixed assets during the year are recorded in the notes to the financial statements.
## **Reserves policy**
The trustee directors consider that an amount equivalent to the annual running costs of the centre should be retained on reserves.
The unrestricted funds for the year shows a deficit of £21,582 in comparison to a deficit of £2,368 in 2022. The trustees consider the free reserves of the charity for the coming year to be £70,175, which represents approximately 6 months of the actual running costs.
**- 2 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
**Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_
**Year ended 31 December 2023**
## **Structure, governance and management** _**(continued)**_
## **Investment policy**
The trustee directors have always invested any funds raised in excess of the annual running costs with a suitable building society in order to be prepared for the possibility of expanding the centre should the opportunity arise. This has meant that the trustees were able to use accumulated funds towards the purchase of the adjoining bungalow.
## **Risk review**
The trustee directors consider that the systems and procedures in operation are appropriate for the organisation and the risks are reviewed regularly.
## **Objectives and activities**
The objects and principal activities of the company throughout the year were to aid and improve, for the public benefit, the condition of those suffering from multiple sclerosis by the following means: by bringing together people with MS and those interested in MS, and by providing therapies, treatments, advice, guidance, moral and practical support for MS sufferers as well as those suffering from other symptoms or conditions.
## **Strategic report**
The following sections for achievements and performance and financial review form the strategic report of the charity.
## **Achievements and performance**
2023 started very positively with a full compliment of staff, Paula, Lisa and new employee Vicky who has made a good impression on our members and visitors to the centre.
We found two replacements for our physiotherapy service, Sue Hood and Angela Perry, both are very skilled in their field. The centre has been able to give members the opportunity to choose when they attend.
Room rental has continued to increase throughout the year with regular therapists attending each week.
After a period of a couple of years without a mooring, one space has now been rented out bringing in much needed funds.
2023 accounts show that increases in utilities, increase in salaries with one extra member of staff and two newly appointed physiotherapists and other general costs with the running of the centre, continued to rise exponentially. However, fundraising and donations were on a similar level as to 2022 with the exception of a legacy.
The staff team along with the volunteers with their positive attitude and outlook have continued to make the centre a friendly, open environment for its members to receive their therapies, and are committed to ensuring that this remains the same for the following year.
**- 3 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
**Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_
**Year ended 31 December 2023**
## **Financial review**
For the year ended 31 December 2023 total incoming resources amounted to £111,756 a decrease of 3.2% on the previous year. After deducting resources expended of £141,504, net outgoing resources amounted to £29,748.
## **Trustees' responsibilities statement**
The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' 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 charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the applicable Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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.
## **Auditor**
Each of the persons who is a trustee at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
- they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
**- 4 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
**Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_
**Year ended 31 December 2023**
The trustees' annual report and the strategic report were approved on 3 July 2024 and signed on behalf of the board of trustees by:
Mr P Williams Trustee
**- 5 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
## **Independent Auditor's Report to the Members of Wolverhampton & District M S Therapy Centre Limited**
## **Year ended 31 December 2023**
## **Opinion**
We have audited the financial statements of Wolverhampton & District M S Therapy Centre Limited (the 'charity') for the year ended 31 December 2023 which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
**- 6 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
## **Independent Auditor's Report to the Members of Wolverhampton & District M S Therapy Centre**
## **Limited** _**(continued)**_
## **Year ended 31 December 2023**
## **Other information**
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the trustees' report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
**- 7 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
**Independent Auditor's Report to the Members of Wolverhampton & District M S Therapy Centre Limited** _**(continued)**_
**Year ended 31 December 2023**
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In planning and designing our audit tests we identify and assess the risks of material misstatement within the financial statements, whether due to fraud or error. Our assessment of these risks includes consideration of the nature of the industry and sector, the control environment and the business performance along with the results of our enquiries of management about their own identification and assessment of risks and irregularities. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK tax legislation and other laws and regulations identified as risk areas identified from our discussions with management.
We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
**- 8 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
**Independent Auditor's Report to the Members of Wolverhampton & District M S Therapy Centre Limited** _**(continued)**_
## **Year ended 31 December 2023**
After consideration of the above risks we then carried out audit procedures including the following:
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- reading minutes of management meetings;
- reviewing correspondence with H M Revenue & Customs;
- enquiring of management and reviewing any correspondence with legal advisors concerning actual and potential litigation and claims;
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
There are inherent limitations in our audit procedures described above. The more removed that the laws and regulations are from financial transactions the less likely it is that we would be aware on non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
**- 9 -**
## **Wolverhampton & District M S Therapy Centre Limited**
# **Company Limited by Guarantee**
## **Independent Auditor's Report to the Members of Wolverhampton & District M S Therapy Centre**
**Limited** _**(continued)**_
## **Year ended 31 December 2023**
## **Use of our report**
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
Oliver Ross BSC (Hons) FCA (Senior Statutory Auditor)
For and on behalf of Muras Baker Jones Limited Chartered accountants & statutory auditor Regent House Bath Avenue Wolverhampton West Midlands WV1 4EG
3 July 2024
**- 10 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
## **Statement of Financial Activities (including income and expenditure account)**
## **Year ended 31 December 2023**
||||**2023**||2022|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**4**|35,222|–|35,222|50,375|
|Charitable activities|**5**|57,295|–|57,295|42,467|
|Other trading activities|**6**|18,630|–|18,630|22,631|
|Investment income|**7**|609|–|609|36|
|||--------------------------------|--------------|--------------------------------|--------------------------------|
|**Total income**||111,756|–|111,756|115,509|
|||================================|==============|================================|================================|
|**Expenditure**||||||
|Expenditure on raising funds:||||||
|Costs of other trading activities|**8**|633|–|633|280|
|Expenditure on charitable activities|**9**|132,705|8,166|140,871|125,762|
|||--------------------------------|-----------------------|--------------------------------|--------------------------------|
|**Total expenditure**||133,338|8,166|141,504|126,042|
|||================================|=======================|================================|================================|
|||--------------------------------|-----------------------|--------------------------------|--------------------------------|
|**Net expenditure and net movement**|**in**|||||
|**funds**||(21,582)|(8,166)|(29,748)|(10,533)|
|||================================|=======================|================================|================================|
|**Reconciliation of funds**||||||
|Total funds brought forward||253,081|321,425|574,506|585,040|
|||--------------------------------|--------------------------------|--------------------------------|--------------------------------|
|**Total funds carried forward**||231,499|313,259|544,758|574,506|
|||================================|================================|================================|================================|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
**The notes on pages 16 to 19 form part of these financial statements.**
**- 11 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
## **Statement of Financial Position**
**31 December 2023**
|||**2023**||2022|
|---|---|---|---|---|
||**Note**|**£**|**£**|£|
|**Fixed assets**|||||
|Tangible fixed assets|**14**||449,463|453,415|
|**Current assets**|||||
|Stocks|**15**|108||223|
|Debtors|**16**|501||1,709|
|Cash at bank and in hand||103,262||124,704|
|||--------------------------------||--------------------------------|
|||103,871||126,636|
|**Creditors: amounts falling due within one year**|**17**|8,576||5,544|
|||--------------------------------||--------------------------------|
|**Net current assets**|||95,295|121,092|
||||--------------------------------|--------------------------------|
|**Total assets less current liabilities**|||544,758|574,507|
||||--------------------------------|--------------------------------|
|**Net assets**|||544,758|574,507|
||||================================|================================|
|**Funds of the charity**|||||
|Restricted funds|||313,259|321,425|
|Unrestricted funds|||231,499|253,081|
||||--------------------------------|--------------------------------|
|**Total charity funds**|**18**||544,758|574,506|
||||================================|================================|
These financial statements were approved by the board of trustees and authorised for issue on 3 July 2024, and are signed on behalf of the board by:
Mr P Williams Trustee
Mr B J Woolley Trustee
**The notes on pages 16 to 19 form part of these financial statements.**
**- 12 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
## **Accounting Policies**
## **Year ended 31 December 2023**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts 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 circumstances.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
## **Incoming resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, 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 amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
**- 13 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
**Accounting Policies** _**(continued)**_
**Year ended 31 December 2023**
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance 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 charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Tangible assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|Freehold property|-|2% straight line|
|---|---|---|
|Short leasehold property|-|Over the period of the lease|
|Fixtures and fittings|-|20% straight line|
|Equipment|-|15%/33.3% straight line|
## **Impairment of fixed assets**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
**- 14 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
## **Accounting Policies** _**(continued)**_
## **Year ended 31 December 2023**
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
## **Stocks**
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
**- 15 -**
**Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements**
## **Year ended 31 December 2023**
## **1. General information**
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Newbridge Therapy Centre, Meadow View Wharf, Tettenhall Road, Wolverhampton, West Midlands, WV6 0JT.
## **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 with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
## **3. Limited by guarantee**
The company is incorporated under the Companies Act and is limited by guarantee. The liability of the members is limited to £1 per member. There are no beneficial interests and under the terms of its Memorandum and Articles of Association any surplus can only be applied towards the promotion of the company's objectives and no dividend or other form of distribution can be paid to its members.
## **4. Donations and legacies**
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|**2023**|Funds|2022|
|||£|**£**|£|£|
||**Donations**|||||
||Donations|35,222|35,222|50,375|50,375|
|||============================|============================|============================|============================|
|**5.**|**Charitable activities**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2023**|Funds|2022|
|||£|**£**|£|£|
||Fees and subscriptions for diving,|||||
||physiotherapy and reflexology|57,295|57,295|42,467|42,467|
|||============================|============================|============================|============================|
|**6.**|**Other trading activities**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2023**|Funds|2022|
|||£|**£**|£|£|
||Fundraising events|18,630|18,630|22,631|22,631|
|||============================|============================|============================|============================|
|**7.**|**Investment income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2023**|Funds|2022|
|||£|**£**|£|£|
||Bank interest receivable|609|609|36|36|
|||==============|==============|==============|==============|
**- 16 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2023**
## **8. Costs of other trading activities**
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|**2023**|Funds|2022|
|||£|**£**|£|£|
||Costs of generating funds|633|633|280|280|
|||==============|==============|==============|==============|
|**9.**|**Expenditure on charitable activities**|**by activity type**||||
|||Activities||||
|||undertaken|Support|**Total funds**|Total fund|
|||directly|costs|**2023**|2022|
|||£|£|**£**|£|
||Charitable activities|136,232|–|136,232|121,805|
||Governance costs|–|4,639|4,639|3,957|
|||--------------------------------|-----------------------|--------------------------------|--------------------------------|
|||136,232|4,639|140,871|125,762|
|||================================|=======================|================================|================================|
|**10.**|**Analysis of support costs**|||||
|||Professional||||
|||fees|Audit fees|**Total 2023**|Total 2022|
|||£|£|**£**|£|
||Governance costs|3,358|1,280|4,638|3,957|
|||=======================|=======================|=======================|=======================|
|**11.**|**Net expenditure**|||||
||Net expenditure is stated after charging/(crediting):|||||
|||||**2023**|2022|
|||||**£**|£|
||Depreciation of tangible fixed assets|||11,270|11,047|
||Fees payable for the audit of the financial statements|||1,280|1,152|
|||||============================|============================|
## **12. Staff costs**
The total staff costs and employee benefits for the reporting period are analysed as follows:
||**2023**|2022|
|---|---|---|
||**£**|£|
|Wages and salaries|62,757|60,357|
||============================|============================|
|The average head count of employees during the year was 3 (2022: 3). The average||number of|
|full-time equivalent employees during the year is analysed as follows:|||
||**2023**|2022|
||**No.**|No.|
|Number of staff - administration|3|3|
||==============|==============|
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
## **13. Trustee remuneration and expenses**
There has been no remuneration or expenses paid to the trustee directors.
**- 17 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2023**
## **14. Tangible fixed assets**
||||Short||||
|---|---|---|---|---|---|---|
|||Freehold|leasehold|
Fixtures and|||
|||property|property|
fittings|Equipment|**Total**|
|||£|£|£|£|**£**|
||**Cost**||||||
||At 1 January 2023|522,024|22,329|
67,123|97,595|709,071|
||Additions|–|–|
7,318|–|7,318|
|||--------------------------------|----------------------------|----------------------------|----------------------------|--------------------------------|
||**At 31 December 2023**|522,024|22,329|
74,441|97,595|716,389|
|||================================|============================|============================|============================|================================|
||**Depreciation**||||||
||At 1 January 2023|80,317|22,329|
67,123|85,887|255,656|
||Charge for the year|7,641|–|
244|3,385|11,270|
|||--------------------------------|----------------------------|----------------------------|----------------------------|--------------------------------|
||**At 31 December 2023**|87,958|22,329|
67,367|89,272|266,926|
|||================================|============================|============================|============================|================================|
||**Carrying amount**||||||
||**At 31 December 2023**|434,066|–|
7,074|8,323|449,463|
|||================================|============================|============================|============================|================================|
||At 31 December 2022|441,707|–|
–|11,708|453,415|
|||================================|============================|============================|============================|================================|
|**15.**|**Stocks**||||||
||||||**2023**|2022|
||||||**£**|£|
||Raw materials and consumables||||108|223|
||||||==============|==============|
|**16.**|**Debtors**||||||
||||||**2023**|2022|
||||||**£**|£|
||Trade debtors||||132|62|
||Prepayments and accrued income||||369|1,647|
||||||--------------|-----------------------|
||||||501|1,709|
||||||==============|=======================|
|**17.**|**Creditors:** **amounts falling due within one**||**year**||||
||||||**2023**|2022|
||||||**£**|£|
||Trade creditors||||4,221|2,454|
||Accruals and deferred income||||3,700|1,251|
||Social security and other taxes||||360|1,467|
||Other creditors||||295|372|
||||||-----------------------|-----------------------|
||||||8,576|5,544|
||||||=======================|=======================|
**- 18 -**
## **Wolverhampton & District M S Therapy Centre Limited**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2023**
## **18. Analysis of charitable funds**
## **Unrestricted funds**
|**Unrestricted funds**||||||
|---|---|---|---|---|---|
|||At|||**At**|
||1 January|20|||**31 Decembe**|
|||23|Income|Expenditure|**r 2023**|
||£||£|£|£|
|General funds|253,081||111,756|(133,338)|
231,499|
||================================||================================|================================|================================|
|||At|||At|
||1 January|20|||31 December|
|||22|Income|Expenditure|2022|
||£||£|£|£|
|General funds|255,449||115,509|(117,877)|
253,081|
||================================||================================|================================|================================|
|**Restricted funds**||||||
|||At|||**At**|
||1 January|20|||**31 Decembe**|
|||23|Income|Expenditure|**r 2023**|
||£||£|£|£|
|Capital appeal|321,425||–|(8,166)|
313,259|
||================================||==============|=======================|================================|
|||At|||At|
||1 January|20|||31 December|
|||22|Income|Expenditure|2022|
||£||£|£|£|
|Capital appeal|329,591||–|(8,166)|
321,425|
||================================||==============|=======================|================================|
The capital appeal fund is part funding the acquisition of the bungalow and to refurbish the bungalow. Two treatment rooms, a consulting room and a training area will be created while the bungalow is refurbished.
## **19. Analysis of net assets between funds**
||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2023**|
||£|£|**£**|
|Tangible fixed assets|161,504|287,959|449,463|
|Current assets|78,571|25,300|103,871|
|Creditors less than 1 year|(8,576)|–|(8,576)|
||--------------------------------|--------------------------------|--------------------------------|
|**Net assets**|231,499|313,259|544,758|
||================================|================================|================================|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2022|
||£|£|£|
|Tangible fixed assets|157,290|296,125|453,415|
|Current assets|101,335|25,300|126,635|
|Creditors less than 1 year|(5,544)|–|(5,544)|
||--------------------------------|--------------------------------|--------------------------------|
|**Net assets**|253,081|321,425|574,506|
||================================|================================|================================|
**- 19 -**