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2023-12-31-accounts

REGISTERED COMPANY NUMBER: 02296348 (England and Wales) REGISTERED CHARITY NUMBER: 701839

Report of the Trustees and

Financial Statements

for the Year Ended 31 December 2023

for

Lincolnshire MS Therapy Centre Ltd

Lincolnshire MS Therapy Centre Ltd

Contents of the Financial Statements for the year ended 31 December 2023

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 18

Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)

Report of the Trustees for the year ended 31 December 2023

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 2023. 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.

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.

1 Keeping people as active as possible:

2 Improve mental health

FINANCIAL REVIEW

Going concern

Income continued to be a concern in 2023. The ongoing support from members and individual supporters, charitable trusts, companies and local authorities, however, helped to contain the surplus for the year.

Total income was £109,714, and total expenditure was £77,259. The overall surplus was £32,455. The charity is confident of its financial survival. The very real need - during an uncertain 2023 - is to focus on continuing to develop income streams and to address future sustainability. We wish to thank each individual and organisation who supported the charity in 2023.

Plans have 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.

Page 1

Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)

Report of the Trustees for the year ended 31 December 2023

FINANCIAL REVIEW

Reserves policy

The Trustees' ongoing reserves policy is to maintain free reserves (unrestricted net current assets) at between three to six months of operating expenditure which equates to £19,315 to £38,630. 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. The charity had a positive free reserve of £62,615 at the end of the period. The free reserves are calculated by taking the unrestricted reserves balance at the end of the year, less any fixed asset funds. At 31 December 2023 funds were £166,833 as the Management Committee has 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.

The trustees have conducted a review of the risks to which the charity is exposed, and assessed their relative significance. These have been recorded within the policies and procedures documentation. Where appropriate, systems and procedures have been established to mitigate the risks the charity faces. The principal risks to the charity are considered to be those concerning fund raising, financial internal controls, quality of service delivery and the health and safety of staff, volunteers, clients and visitors to the Centre. As regards fundraising, the risk is the adverse fluctuation of financial resources raised during the year. In the longer term this would place a financial strain upon the charity.

The fundraising strategy is over seen by the Trustees, and actual financial performance is monitored on a monthly basis. Good relationships are maintained with a large pool of volunteers who are able to support the public collections and events programme.

Financial internal controls include the division of duties. The risk of fraudulent appropriation of the charity's financial resources is mitigated by the requirement that all financial transactions require dual authorisation. The quality of service delivery is underpinned by qualified physiotherapy personnel, training programmes to help maintain professional standards, and equipment maintenance schedules that comply with manufacturers' specifications. These measures are in place to help ensure that service delivery meets recognised standards and benefits users. Procedures are in place to ensure compliance with the health and safety of staff, volunteers, clients and visitors to the Centre. Procedures in place include periodic fire alarm tests, Centre access security and regular maintenance of plant and equipment (including lifting equipment, and hygiene). These procedures are periodically reviewed to ensure that they continue to 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:

Page 2

Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)

Report of the Trustees for the year ended 31 December 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Recruitment and Appointment of Management Committee members (trustees) must be ordinary members of the company. They are appointed by election at each Annual General Meeting of the charity, provided that in advance of the meeting they have been proposed by another ordinary member and are willing to be elected. Committee members retire at each Annual General Meeting, though they are eligible for re-election. The officers of the Company - the Chairman, Treasurer and Secretary - are Trustee Management Committee members and are also appointed by election at each Annual General Meeting. The committee may appoint any of their number during the year to fill a casual vacancy among the officers. Such officers hold office until the next following Annual General Meeting.

Organisational structure

Day to day management of the charity is delegated to the Centre Manager - including supervision of the staff and ensuring that the team continues to develop skills and working arrangements in line with good practice and ensuring the Centre premises are properly serviced and maintained. All members of the Trustee Management Committee give their time voluntarily. Committee members may benefit from the charity's MS services on the same terms as other beneficiaries. The policies and procedures of the charity have been documented. These are updated on a cyclical basis. All trustees are required to familiarise themselves with the charity's policies and procedures.

Decision making

The charity is managed by the Trustee Management Committee and meets at least monthly. The committee sets the strategic direction and policy of the charity.

Induction and training of new trustees

Trustee Induction and Training New trustees are briefed on the objectives and activities of the charity and the environment within which it operates

The Charity has a centre at 50 Outer Circle Drive, Lincoln. This is open Monday, Wednesday, and Friday.

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

Page 3

Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)

Report of the Trustees for the year ended 31 December 2023

Trustees

Mr K Gazard Mr G W Mitchell (appointed 13.12.23) Ms J Lander Mr P J Burton Mr J Edge Mr J E Gray (appointed 23.8.23) Mrs C J Gray Ms M E Daley (appointed 28.8.23) Ms V T McLeod (appointed 23.8.23)

Company Secretary

Mr J Edge

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 25 September 2024 and signed on its behalf by:

Mr K Gazard - Trustee

Page 4

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 2023.

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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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 The Institute of Chartered Accountants in England and Wales

Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN

26 September 2024

Page 5

Lincolnshire MS Therapy Centre Ltd

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31 December 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Oxygen therapy
Other therapies
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Oxygen therapy
Other therapies
Support costs
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
16
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
62,211
36,053
3,505
2,705
855
105,329
2,821
37,778
34,447
2,213
77,259
28,070
4,964
33,034
133,799
166,833		 Restricted
fund
£
-
-
-
4,385
-
4,385
-
-
-
-
-
4,385
(4,964)
(579)
579
-		 2023
Total
funds
£
62,211
36,053
3,505
7,090
855
109,714
2,821
37,778
34,447
2,213
77,259
32,455
-
32,455
134,378
166,833		 2022
Total
funds
£
9,198
32,083
6,004
1,680
38
49,003
2,766
27,552
24,176
2,213
56,707
(7,704)
-
(7,704)
142,082
134,378

The notes form part of these financial statements

Page 6

Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)

Balance Sheet

31 December 2023

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Stocks
13
Debtors
14
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
104,218
100
-
73,021
73,121
(10,506)
62,615
166,833
166,833		 Restricted
fund
£
-
-
-
-
-
-
-
-
-		 2023
Total
funds
£
104,218
100
-
73,021
73,121
(10,506)
62,615
166,833
166,833
166,833
-
166,833		 2022
Total
funds
£
107,093
70
187
33,652
33,909
(6,624)
27,285
134,378
134,378
133,799
579
134,378

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 7

continued...

Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)

Balance Sheet - continued 31 December 2023

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 25 September 2024 and were signed on its behalf by:

Mr K Gazard - Trustee

The notes form part of these financial statements

Page 8

Lincolnshire MS Therapy Centre Ltd

Notes to the Financial Statements

for the year ended 31 December 2023

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.

Page 9

continued...

Lincolnshire MS Therapy Centre Ltd

Notes to the Financial Statements - continued for the year ended 31 December 2023

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

Page 10

continued...

Lincolnshire MS Therapy Centre Ltd

Notes to the Financial Statements - continued for the year ended 31 December 2023

1. ACCOUNTING POLICIES - continued

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

Donations
Legacies
Fundraising events
3.
OTHER TRADING ACTIVITIES
Grant income
Room hire
4.
INVESTMENT INCOME
Investment income and interest		 2023
£
15,310
46,412
489
62,211
2023
£
4,385
2,705
7,090
2023
£
855		 2022
£
8,648
-
550
9,198
2022
£
-
1,680
1,680
2022
£
38

Page 11

continued...

Lincolnshire MS Therapy Centre Ltd

Notes to the Financial Statements - continued for the year ended 31 December 2023

5. INCOME FROM CHARITABLE ACTIVITIES INCOME FROM CHARITABLE ACTIVITIES
2023 2022
Oxygen Other Total Total
therapy therapies activities activities
£ £ £ £
Physiotherapy & reflexology - 605 605 1,150
Oxygen therapy 36,053 - 36,053 32,028
Covid-19 support grants - - - 165
Sales of goods and literature - 2,900 2,900 4,744
36,053 3,505 39,558 38,087
6. RAISING FUNDS
Raising donations and legacies
2023 2022
£ £
Staff costs 2,821 2,766
7. CHARITABLE ACTIVITIES COSTS
Support
costs (see
note 8)
£
Oxygen therapy 37,778
Other therapies 34,447
Support costs 2,213
74,438
8. SUPPORT COSTS
Governance
Management costs Totals
£ £ £
Oxygen therapy 37,778 - 37,778
Other therapies 29,080 5,367 34,447
Support costs 2,213 - 2,213
69,071 5,367 74,438

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continued...

Lincolnshire MS Therapy Centre Ltd

Notes to the Financial Statements - continued for the year ended 31 December 2023

8. SUPPORT COSTS - continued

Support costs, included in the above, are as follows:

Management

Salaries
Equipment repairs
Insurance
Oxygen
Cost of goods sold
General office running
Subscriptions and
donations
Bank charges
Depreciation
Bank interest
Other interest
Governance costs
Independent Examiners fee
Accountancy and legal fees		 Oxygen
therapy
£
25,456
-
-
10,159
-
-
-
-
2,163
-
-
37,778		 Other
therapies
£
8,569
5,766
3,729
-
1,331
7,643
807
74
1,101
60
-
29,080		 Support
costs
£
2,213
-
-
-
-
-
-
-
-
-
-
2,213		 2023
Total
activities
£
36,238
5,766
3,729
10,159
1,331
7,643
807
74
3,264
60
-
69,071
2023
Other
therapies
£
700
4,667
5,367		 2022
Total
activities
£
29,167
2,452
2,537
5,107
1,136
5,807
340
604
3,341
-
316
50,807
2022
Total
activities
£
700
2,434
3,134

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£ £
Independent Examiners fee 700 700
Depreciation - owned assets 3,264 3,341

In addition to the fees listed above, the independent examiner also received £4,667 (2022: £2,434) during the year pertaining to accountancy services.

Page 13

continued...

Lincolnshire MS Therapy Centre Ltd

Notes to the Financial Statements - continued for the year ended 31 December 2023

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

11. STAFF COSTS

STAFF COSTS
Wages and salaries 2023
£
39,059
39,059		 2022
£
31,933
31,933

The average monthly head count during the year was 3 staff (2022 : 3).

The average monthly number of employees during the year was as follows:

Direct charitable employees
No employees received emoluments in excess of £60,000.
TANGIBLE FIXED ASSETS
Freehold
Physio,
property
office
and
and other
Furniture
improvements equipment
& fittings
£
£
£
COST
At 1 January 2023
167,810
71,095
7,198
Additions
-
-
389
At 31 December 2023
167,810
71,095
7,587
DEPRECIATION
At 1 January 2023
63,528
68,868
7,055
Charge for year
2,610
462
82
At 31 December 2023
66,138
69,330
7,137
NET BOOK VALUE
At 31 December 2023
101,672
1,765
450
At 31 December 2022
104,282
2,227
143		 2023
3
Motor
vehicles
£
48,578
-
48,578
48,137
110
48,247
331
441		 2022
3
Totals
£
294,681
389
295,070
187,588
3,264
190,852
104,218
107,093

12. TANGIBLE FIXED ASSETS

Page 14

continued...

Lincolnshire MS Therapy Centre Ltd

Notes to the Financial Statements - continued for the year ended 31 December 2023

13.
STOCKS
Sundry stocks
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Other creditors
Wages payable
Accruals and deferred income
16.
MOVEMENT IN FUNDS
Net
movement
At 1.1.23
in funds
£
£
Unrestricted funds
Undesignated
90,371
29,841
Designated funds
43,428
(1,771)
133,799
28,070
Restricted funds
Restricted funds
579
4,385
TOTAL FUNDS
134,378
32,455

Page 15

continued...

Lincolnshire MS Therapy Centre Ltd

Notes to the Financial Statements - continued for the year ended 31 December 2023

16. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
Resources
resources
expended
£
£
Unrestricted funds
Undesignated
105,329
(75,488)
Designated funds
-
(1,771)
105,329
(77,259)
Restricted funds
Restricted funds
4,385
-
TOTAL FUNDS
109,714
(77,259)
Comparatives for movement in funds
Net
movement
At 1.1.22
in funds
£
£
Unrestricted funds
Undesignated
96,250
(5,879)
Designated funds
45,253
(1,825)
141,503
(7,704)
Restricted funds
Restricted funds
579
-
TOTAL FUNDS
142,082
(7,704)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
Undesignated
49,003
(54,882)
Designated funds
-
(1,825)
49,003
(56,707)
TOTAL FUNDS
49,003
(56,707)		 Movement
in funds
£
29,841
(1,771)
28,070
4,385
32,455
At
31.12.22
£
90,371
43,428
133,799
579
134,378
Movement
in funds
£
(5,879)
(1,825)
(7,704)
(7,704)

Page 16

continued...

Lincolnshire MS Therapy Centre Ltd

Notes to the Financial Statements - continued for the year ended 31 December 2023

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 1.1.22
£
96,250
45,253
141,503
579
142,082		 Net
movement
in funds
£
23,962
(3,596)
20,366
4,385
24,751		 Transfers
between
funds
£
4,964
-
4,964
(4,964)
-		 At
31.12.23
£
125,176
41,657
166,833
-
166,833

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
Undesignated
Designated funds
Restricted funds
Restricted funds
TOTAL FUNDS		 Incoming
resources
£
154,332
-
154,332
4,385
158,717		 Resources
expended
£
(130,370)
(3,596)
(133,966)
-
(133,966)		 Movement
in funds
£
23,962
(3,596)
20,366
4,385
24,751

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.

Page 17

continued...

Lincolnshire MS Therapy Centre Ltd

Notes to the Financial Statements - continued for the year ended 31 December 2023

17. RELATED PARTY DISCLOSURES

The were no related party transactions for the year ended 31 December 2023 nor year ended 31 December 2022.

18. POST BALANCE SHEET EVENTS

At the year end and looking forward 12 months from approval, the company remains a going concern.

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.

Page 18