REGISTERED COMPANY NUMBER: 02296348 (England and Wales) REGISTERED CHARITY NUMBER: 701839
Report of the Trustees and
Financial Statements
for the Year Ended 31 December 2020
for
Lincolnshire MS Therapy Centre Ltd
Lincolnshire MS Therapy Centre Ltd
Contents of the Financial Statements for the Year Ended 31 December 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 to 9 |
| Notes to the Financial Statements | 10 to 20 |
Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)
Report of the Trustees for the Year Ended 31 December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives of the charity and principal activities
The Lincolnshire MS Therapy Centre Limited is constituted as a company limited by guarantee. It is governed by its Memorandum and Articles of Association.
The principal object of the charity is the provision of facilities to assist people suffering from Multiple Sclerosis and any other conditions that may benefit from High Dosage Oxygen Therapy (H.D.O.T.)
Public benefit
The trustees have regard to the Charity Commission's general guidance on public benefit and always ensure that activities which we undertake are in line with our charitable objects and aims.
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Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)
Report of the Trustees for the Year Ended 31 December 2020
ACHIEVEMENT AND PERFORMANCE
The three members of staff remained in post and the trustees continued to monitor and develop the work they do and the services they offer members. The Government Furlough Scheme was made available during the COVID 19 epidemic has and remains in use. We were fortunate to apply and receive a £10,000 local government support grant. Both have been instrumental in enabling the charity to continue to function during this unprecedented Coronavirus pandemic.
The charity has a procedure for staff appraisal and the Centre Manager undertakes this. Relationships between employees, beneficiaries and users are all carefully monitored and there are written procedures to be followed following complaints of any kind.
During the year the charity has followed all government COVID advice in terms of precautions and operation. We closed on 19th March 2020 and had a limited re-opening 'by appointment only' on 1st July 2020 for oxygen therapy. Regular monthly trustee meetings continued to take place throughout the year either at the centre or by zoom as appropriate. We look forward to fully reopening shortly.
We were fortunate to receive a number of donations from individuals, local companies and anonymously during the year even though we weren't able to do any of our normal fundraising activities. The Centre Manager periodically checked the centre to collect post and operate and check equipment as necessary to ensure its serviceability.
We made full use of the centres closure to perform a number of planned improvements; these included redecoration, the Installation of low energy LED lighting, sanding and varnishing wooden flooring or replacement of linoleum in the main room, access corridors, and oxygen tank area. The on-site second hand shop was closed, emptied, redecorated, and repurposed as an exercise area to support our physiotherapy activities. This included installing a ceiling fan and obtaining new 'gifted' equipment to accompany that moved from our physiotherapy room.
The price for oxygen therapy was increased for members from £12 to £15. We hope to come out of lockdown in a roughly similar financial position to when we went in. It may be necessary to further increase our physiotherapy price in the near future as it may become harder to subsidise its cost in the longer term. No further action has been taken following our enquiries to modernise our chamber oxygen delivery system from delivered liquid to a Pressure Swing Absorptions (PSA) system.
FINANCIAL REVIEW
Going concern
The Management Committee do not have any concern over the future viability of the Centre as it is currently run and funded. The free reserves currently stand at around £44,000 (2019 £44,000). The Management Committee have made plans to identify areas to boost cash in the short and medium term.
Plans have also been made should free reserves fall to £8,000 to ensure the continuation of the charity into the longer term and provide time for it to re-capitalise itself and move forward with the new strategy.
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Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)
Report of the Trustees for the Year Ended 31 December 2020
FINANCIAL REVIEW
Reserves policy
The Management Committee have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ("the free reserves") held by the charity, should be equivalent to between three and six months of the resources expended, which equates to £15,000 to £30,000 in general funds. At this level, the Management Committee feel that they would be able to continue the current activities in the event of a significant drop in funding. At 31 December 2020 funds were above this level as the Management Committee have taken steps to ensure that cash usage is managed carefully.
Risk management
The trustees and Management Committee meet on a monthly basis at which the present situation of the charity is discussed and any future risks which may affect the charity are identified and the appropriate action is planned. Internal risks are minimised through the implementation of controls. Procedures relating to risk management are continually under review to ensure that they still meet the needs of the charity.
FUTURE PLANS
The trustees are committed to creating a Centre of Excellence, in order to achieve this, we the trustees are preparing to achieve the following:
o Continue to update and modernise the decor and furnishings within the centres main room. o Explore group physiotherapy sessions to extend access and reduce costs. o Increase membership when possible.
Long Term Plans:-
o Improve the Barometric Chamber area to improve access and function. o Apply for a café license; improve local and public access with potential to expand services.
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Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)
Report of the Trustees for the Year Ended 31 December 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity has a Centre on Outer Circle Drive, which is open Monday, Wednesday and Friday. A part time Manager, a part time assistant and part time Chamber operator staff the Centre. The Centre has two physiotherapists who work over two days a week, assisted by volunteer Physiotherapy helpers. The therapists are paid on an hourly basis, and are self employed. The Charity also has a small Charity Shop within the Centre.
Volunteers help support this paid work, by acting as chamber operators.
The trustees form the core of the Management Committee and are recruited largely by word of mouth. Once they have been approached their name is then brought to the AGM in April, to whom all members are invited, and if necessary a secret ballot takes place.
Once appointed, the trustees have access to various courses as brought to their attention by the Centre Manager.
Many of the volunteers, such as the chamber operators, are trained initially by our training manager, are then assessed by himself and the Centre Manager. They also take part in annual training sessions.
We have a health and safety officer who makes regular checks on the safety of all aspects of the premises. He reports to the Centre Manager, who brings any concerns to the Management Committee to be addressed.
The oxygen chambers have separate official, regular safety checks, as well as the daily check by the chamber operator.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02296348 (England and Wales)
Registered Charity number
701839
Registered office
50 Outer Circle Drive St Giles LINCOLN Lincolnshire LN2 4JH
Trustees
Mr K Gazard Ms J Lander Mr A Ollier Ms M Marwaha Mr S J Reynolds Mrs J Markham Mr P J Burton
Company Secretary
Mrs J Markham
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Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)
Report of the Trustees for the Year Ended 31 December 2020
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN
EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 23 September 2021 and signed on its behalf by:
Mr K Gazard - Trustee
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Independent Examiner's Report to the Trustees of Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)
Independent examiner's report to the trustees of Lincolnshire MS Therapy Centre Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mrs Emma Murray FCA Independent Examiner Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN
24 September 2021
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Lincolnshire MS Therapy Centre Ltd
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2020
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 15,335 Charitable activities 5 Oxygen therapy 31,210 Other therapies 10,447 Other trading activities 3 1,002 Investment income 4 41 Total 58,035 EXPENDITURE ON Raising funds 6 2,419 Charitable activities 7 Oxygen therapy 25,861 Other therapies 18,643 Support costs 14,133 Total 61,056 NET INCOME/(EXPENDITURE) (3,021) RECONCILIATION OF FUNDS Total funds brought forward 158,247 TOTAL FUNDS CARRIED FORWARD 155,226 |
Restricted fund £ - - - - - - - - - - - - 579 579 |
31/12/20 Total funds £ 15,335 31,210 10,447 1,002 41 58,035 2,419 25,861 18,643 14,133 61,056 (3,021) 158,826 155,805 |
31/12/19 Total funds £ 17,899 24,647 14,700 1,800 96 59,142 3,066 28,829 28,859 7,120 67,874 (8,732) 167,558 158,826 |
|---|---|---|---|
The notes form part of these financial statements
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Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)
Balance Sheet
31 December 2020
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 12 111,296 CURRENT ASSETS Stocks 13 125 Debtors 14 123 Cash at bank and in hand 50,794 51,042 CREDITORS Amounts falling due within one year 15 (7,112) NET CURRENT ASSETS 43,930 TOTAL ASSETS LESS CURRENT LIABILITIES 155,226 NET ASSETS 155,226 FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - - 579 579 - 579 579 579 |
31/12/20 Total funds £ 111,296 125 123 51,373 51,621 (7,112) 44,509 155,805 155,805 155,226 579 155,805 |
31/12/19 Total funds £ 114,414 125 168 51,664 51,957 (7,545) 44,412 158,826 158,826 158,247 579 158,826 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)
Balance Sheet - continued 31 December 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 September 2021 and were signed on its behalf by:
Mr K Gazard - Trustee
The notes form part of these financial statements
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The accounts have been prepared under the going concern basis as, the charity is able to settle all operating debts at they arise.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution.
Government grants
Government grants which have been accounted for under the accruals model, in respect of capital expenditure are recognised within income on a systematic basis over the expected useful life of the asset.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Raising funds
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and which are available as general funds. Included within unrestricted funds are designated funds where the trustees, at their discretion, have created a fund for a specific purpose.
Designated funds represent the net book value of fixed assets donated to the charity or purchased out of restricted income. This balance therefore represents the future depreciation charge relating to these assets.
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES - continued
Fixed assets for use by the charitable company
Fixed assets are stated at cost less depreciation, or in cases where fixed assets have been donated, at valuation at the time of acquisition less depreciation.
Depreciation
Depreciation is charged on all tangible fixed assets other than freehold land as follows:
Freehold land Not depreciated Freehold property and improvements Straight line over 50 years Motor vehicles 25% reducing balance Physiotherapy, office and other equipment 20% reducing balance Furniture and fittings 20% reducing balance
Operating leases
Rentals paid under operating leases are charged on a straight line basis over the term of the lease.
Stocks
Stocks are valued at the lower of cost and net realisable value.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated fund comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Voluntary help and gifts in kind
No value has been put on the help received by Lincolnshire MS Therapy Centre Limited during the year. Individual gifts of significant value are valued at estimated costs to the donor and include any voluntary donations; however, there are numerous small gifts that cannot be quantified.
Value added tax
As the activities for the charity are classified as exempt for the purpose of VAT, the charity is unable to reclaim the VAT which it suffers on its purchases. Expenditure in these financial statements is therefore shown inclusive of value added tax paid.
Financial Instruments
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES - continued
Value added tax
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at transaction price.
Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.
2.
DONATIONS AND LEGACIES
| 2. | DONATIONS AND LEGACIES | ||
|---|---|---|---|
| 31/12/20 | 31/12/19 | ||
| £ | £ | ||
| Collecting boxes | - | 107 | |
| Donations | 14,937 | 14,411 | |
| Fundraising events | 398 | 3,381 | |
| 15,335 | 17,899 | ||
| 3. | OTHER TRADING ACTIVITIES | ||
| 31/12/20 | 31/12/19 | ||
| £ | £ | ||
| Room hire | 1,002 | 1,800 | |
| 4. | INVESTMENT INCOME | ||
| 31/12/20 | 31/12/19 | ||
| £ | £ | ||
| Investment income and interest | 41 | 96 |
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
5. INCOME FROM CHARITABLE ACTIVITIES
| LCC Grant Physiotherapy & reflexology Oxygen therapy Covid-19 support grants Sales of goods and literature 6. RAISING FUNDS Raising donations and legacies Staff costs Fundraising costs |
Oxygen therapy £ - - 9,039 22,171 - 31,210 |
31/12/20 31/12/19 Other Total Total therapies activities activities £ £ £ 2,815 2,815 3,565 7,121 7,121 8,359 - 9,039 23,115 - 22,171 1,532 511 511 2,776 10,447 41,657 39,347 31/12/20 31/12/19 £ £ 2,419 2,766 - 300 2,419 3,066 |
|---|---|---|
7. CHARITABLE ACTIVITIES COSTS
| Support | |
|---|---|
| costs (see | |
| note 8) | |
| £ | |
| Oxygen therapy | 25,861 |
| Other therapies | 18,643 |
| Support costs | 14,133 |
| 58,637 |
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
8. SUPPORT COSTS
| Oxygen therapy Other therapies Support costs Support costs, included in the above, are Management Oxygen therapy £ Salaries 19,885 Equipment repairs - Insurance - Oxygen 3,650 Cost of goods sold - General office running - Subscriptions and donations - Bank charges - Depreciation 2,326 Other interest - 25,861 Governance costs Independent Examiners fee Accountancy and legal fees |
Governance Management costs Totals £ £ £ 25,861 - 25,861 18,643 - 18,643 9,801 4,332 14,133 54,305 4,332 58,637 as follows: 31/12/20 31/12/19 Other Support Total Total therapies costs activities activities £ £ £ £ 6,614 1,935 28,434 36,714 - 5,490 5,490 2,505 2,742 170 2,912 2,892 - - 3,650 4,032 364 - 364 1,423 8,131 - 8,131 9,493 - 216 216 216 - 1,842 1,842 1,309 792 - 3,118 3,266 - 148 148 107 18,643 9,801 54,305 61,957 31/12/20 31/12/19 Support Total costs activities £ £ 700 600 3,632 2,251 4,332 2,851 |
|---|---|
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
9. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31/12/20 | 31/12/19 | |
|---|---|---|
| £ | £ | |
| Independent Examiners fee | 700 | 600 |
| Depreciation - owned assets | 3,118 | 3,266 |
In addition to the fees listed above, the independent examiner also received £3,632 (2019: £2,251) during the year pertaining to accountancy services.
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
11. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 31/12/20 | 31/12/19 | |
| £ | £ | |
| Wages and salaries | 30,853 | 39,480 |
| 30,853 | 39,480 |
The average monthly head count during the year was 3 staff (2019 : 3).
The average monthly number of employees during the year was as follows:
| 31/12/20 | 31/12/19 | |
|---|---|---|
| Direct charitable employees | 3 | 3 |
No employees received emoluments in excess of £60,000.
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
12. TANGIBLE FIXED ASSETS
| Freehold Physio, property office and and other improvements equipment £ £ COST At 1 January 2020 and 31 December 2020 167,810 68,626 DEPRECIATION At 1 January 2020 55,698 67,544 Charge for year 2,610 232 At 31 December 2020 58,308 67,776 NET BOOK VALUE At 31 December 2020 109,502 850 At 31 December 2019 112,112 1,082 13. STOCKS Sundry stocks 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE Prepayments |
Furniture & fittings £ 7,198 7,024 14 7,038 160 174 YEAR |
Motor vehicles £ 48,578 47,532 262 47,794 784 1,046 31/12/20 £ 125 31/12/20 £ 123 |
Totals £ 292,212 177,798 3,118 180,916 111,296 114,414 31/12/19 £ 125 31/12/19 £ 168 |
|---|---|---|---|
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31/12/20 | 31/12/19 | |
|---|---|---|
| £ | £ | |
| Social security and other taxes | 371 | 554 |
| Other creditors | 2,840 | 2,819 |
| Wages payable | 1,310 | 1,452 |
| Accruals and deferred income | 2,591 | 2,720 |
| 7,112 | 7,545 |
16. MOVEMENT IN FUNDS
| At 1.1.20 £ Unrestricted funds Undesignated 109,096 Designated funds 49,151 158,247 Restricted funds Restricted funds 579 TOTAL FUNDS 158,826 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds Undesignated 58,035 Designated funds - 58,035 TOTAL FUNDS 58,035 |
Net movement in funds £ (1,018) (2,003) (3,021) - (3,021) Resources expended £ (59,053) (2,003) (61,056) (61,056) |
At 31.12.20 £ 108,078 47,148 155,226 579 155,805 Movement in funds £ (1,018) (2,003) (3,021) (3,021) |
|---|---|---|
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds Undesignated Designated funds Restricted funds Restricted funds TOTAL FUNDS |
At 1.1.19 £ 116,092 51,272 167,364 194 167,558 |
Net movement in funds £ (6,996) (2,121) (9,117) 385 (8,732) |
At 31.12.19 £ 109,096 49,151 158,247 579 158,826 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Undesignated | 57,017 | (64,013) | (6,996) |
| Designated funds | - | (2,121) | (2,121) |
| 57,017 | (66,134) | (9,117) | |
| Restricted funds | |||
| Restricted funds | 2,125 | (1,740) | 385 |
| TOTAL FUNDS | 59,142 | (67,874) | (8,732) |
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
16. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds Undesignated Designated funds Restricted funds Restricted funds TOTAL FUNDS |
At 1.1.19 £ 116,092 51,272 167,364 194 167,558 |
Net movement in funds £ (8,014) (4,124) (12,138) 385 (11,753) |
At 31.12.20 £ 108,078 47,148 155,226 579 155,805 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Undesignated | 115,052 | (123,066) | (8,014) |
| Designated funds | - | (4,124) | (4,124) |
| 115,052 | (127,190) | (12,138) | |
| Restricted funds | |||
| Restricted funds | 2,125 | (1,740) | 385 |
| TOTAL FUNDS | 117,177 | (128,930) | (11,753) |
Designated funds
Designated funds represent the net book value of fixed assets donated to the charity or purchased out of restricted income. This balance therefore represents the future depreciation charge relating to these assets.
Restricted Funds
Restricted funds represents amount received from the Bromhead Trust which were restricted to the provision of physiotherapy, massage and counselling. This balance therefore represents funds held to provide these services.
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
17. RELATED PARTY DISCLOSURES
The were no related party transactions for the year ended 31 December 2020 nor year ended 31 December 2019.
18. POST BALANCE SHEET EVENTS
At the year end and looking forward 12 months from approval in order to consider Going Concern, the pandemic continues to have a material impact on the general economy.
The directors have considered the effect this has had on the charity to date and its anticipated impact for the next 12 months and have concluded that the company remains a going concern.
The charity has managed to gain access to the government support schemes including the job retention scheme and small business grant and will continue to do so to minimise losses where possible.
19. LEGAL STATUS OF THE CHARITY
Lincolnshire MS Therapy Centre Limited is a company limited by guarantee and has no share capital.
The liability of each member in the event of winding up is limited to £1.
20. CONTROLLING INTEREST
There is no ultimate controlling interest.
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