REGISTERED COMPANY NUMBER: 02296348 (England and Wales) REGISTERED CHARITY NUMBER: 701839
Report of the Trustees and
Financial Statements
for the Year Ended 31 December 2024
for
Lincolnshire MS Therapy Centre Ltd
Lincolnshire MS Therapy Centre Ltd
Contents of the Financial Statements for the year ended 31 December 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 16 |
Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)
Report of the Trustees for the year ended 31 December 2024
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 2024. 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.
ACHIEVEMENTS 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 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.
1 Keeping people as active as possible:
- Providing classes with specialists including Physiotherapy, Yoga, Tai Chi, Acupuncture and Massage. - Offering regular support from our physiotherapists to use 'at home' exercise programmes and to signpost members to any additional support needed.
2 Improve mental health
- Continuing to provide counselling services.
We were fortunate to receive a number of donations anonymously, from individuals, and from local companies during the year. In 2024, we were asked to volunteer at the Lincoln Castle Concerts. Staff, trustees, family, and friends helped out at the event. We have been asked to assist again in 2025.
FINANCIAL REVIEW
Going concern
Income continued to be a concern in 2024. The ongoing support from members and individual supporters, charitable trusts, companies and local authorities, however, helped to contain the deficit for the year. Total income was £63,647, and total expenditure was £71,092. The overall deficit was £7,445. The charity is confident of its financial survival. The very real need - during an uncertain 2024 - 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 2024.
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.
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 £17,773 to £35,546. 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 £58,292 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 2024 funds were £159,388 as the Management Committee has taken steps to ensure that cash usage is managed carefully.
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Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)
Report of the Trustees for the year ended 31 December 2024
FINANCIAL REVIEW
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:
-
Increase membership.
-
Continue to update, and modernise the decor and furnishings, including improvement of the disables toilets.
-
Looking to update and repair the automatic entrance door.
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.
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Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)
Report of the Trustees for the year ended 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
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
Trustees
Mr K Gazard (deceased 19.2.25) Mr G W Mitchell Ms J Lander (resigned 13.5.24) Mr P J Burton Mr J Edge Mr J E Gray Mrs C J Gray Ms M E Daley Ms V T McLeod
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.
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Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)
Report of the Trustees for the year ended 31 December 2024
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 26 September 2025 and signed on its behalf by:
Mr J Edge - 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 2024.
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
-
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
-
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.
Steve Robinson ACA The Institute of Chartered Accountants in England and Wales
Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN
26 September 2025
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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 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 20,108 Charitable activities 5 Oxygen therapy 36,663 Other therapies 3,384 Other trading activities 3 2,298 Investment income 4 1,194 Total 63,647 EXPENDITURE ON Raising funds 6 5,655 Charitable activities 7 Oxygen therapy 37,650 Other therapies 25,358 Support costs 2,429 Total 71,092 NET INCOME/(EXPENDITURE) (7,445) RECONCILIATION OF FUNDS Total funds brought forward 166,833 TOTAL FUNDS CARRIED FORWARD 159,388 |
Restricted fund £ - - - - - - - - - - - - - - |
2024 Total funds £ 20,108 36,663 3,384 2,298 1,194 63,647 5,655 37,650 25,358 2,429 71,092 (7,445) 166,833 159,388 |
2023 Total funds £ 62,211 36,053 3,505 7,090 855 |
|---|---|---|---|
| 109,714 | |||
| 2,821 37,778 34,447 2,213 |
|||
| 77,259 | |||
| 32,455 134,378 |
|||
| 166,833 |
The notes form part of these financial statements
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Lincolnshire MS Therapy Centre Ltd (Registered number: 02296348)
Balance Sheet
31 December 2024
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 14 101,096 CURRENT ASSETS Stocks 15 100 Cash at bank and in hand 67,468 67,568 CREDITORS Amounts falling due within one year 16 (9,276) NET CURRENT ASSETS 58,292 TOTAL ASSETS LESS CURRENT LIABILITIES 159,388 NET ASSETS 159,388 FUNDS 17 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - |
2024 Total funds £ 101,096 100 67,468 67,568 (9,276) 58,292 159,388 159,388 159,388 159,388 |
2023 Total funds £ 104,218 100 73,021 73,121 (10,506) 62,615 166,833 166,833 166,833 166,833 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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
-
(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.
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 26 September 2025 and were signed on its behalf by:
Mr J Edge - 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 2024
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.
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 |
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued
for the year ended 31 December 2024
1. ACCOUNTING POLICIES - continued
Fixed assets for use by the charitable company
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
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.
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the year ended 31 December 2024
| 2. DONATIONS AND LEGACIES Donations Legacies Fundraising events 3. OTHER TRADING ACTIVITIES Grant income Room hire 4. INVESTMENT INCOME Investment income and interest 5. INCOME FROM CHARITABLE ACTIVITIES Physiotherapy & reflexology Oxygen therapy Sales of goods and literature 6. RAISING FUNDS Raising donations and legacies Staff costs Investment management costs Property repairs Aggregate amounts |
Oxygen Other therapy therapies £ £ - 315 36,663 - - 3,069 36,663 3,384 |
2024 £ 19,657 - 451 20,108 2024 £ - 2,298 2,298 2024 £ 1,194 2024 Total activities £ 315 36,663 3,069 40,047 2024 £ 2,765 2024 £ 2,890 5,655 |
2023 £ 15,310 46,412 489 62,211 2023 £ 4,385 2,705 7,090 2023 £ 855 2023 Total activities £ 605 36,053 2,900 39,558 2023 £ 2,821 2023 £ - 2,821 |
|---|---|---|---|
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the year ended 31 December 2024
| 7. CHARITABLE ACTIVITIES COSTS Direct Support Costs (see costs (see note 8) note 9) £ £ Oxygen therapy - 37,650 Other therapies 518 24,840 Support costs - 2,429 518 64,919 8. DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 £ Advertising 518 9. SUPPORT COSTS Governance Management costs £ £ Oxygen therapy 37,650 - Other therapies 23,803 1,037 Support costs 2,429 - 63,882 1,037 Support costs, included in the above, are as follows: Management 2024 Oxygen Other Support Total therapy therapies costs activities £ £ £ £ Salaries 27,073 8,288 2,213 37,574 Equipment repairs - 2,072 - 2,072 Insurance - 4,010 - 4,010 Oxygen 8,468 - - 8,468 Cost of goods sold - 1,375 - 1,375 General office running - 6,363 - 6,363 Subscriptions and donations - 536 216 752 Bank charges - - - - Depreciation 2,109 1,013 - 3,122 Bank interest - 146 - 146 37,650 23,803 2,429 63,882 |
Totals £ 37,650 25,358 2,429 65,437 2023 £ - Totals £ 37,650 24,840 2,429 64,919 2023 Total activities £ 36,238 5,766 3,729 10,159 1,331 7,643 807 74 3,264 60 69,071 |
|---|---|
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued
for the year ended 31 December 2024
9. SUPPORT COSTS - continued Governance costs
| 9. | SUPPORT COSTS - continued Governance costs |
||
|---|---|---|---|
| 2024 | 2023 | ||
| Other | Total | ||
| therapies | activities | ||
| £ | £ | ||
| Independent Examiners fee | 700 | 700 | |
| Accountancy and legal fees | 337 | 4,667 | |
| 1,037 | 5,367 | ||
| 10. | OTHER | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Support costs | 64,919 | 74,438 |
11. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Independent Examiners fee | 700 | 700 |
| Depreciation - owned assets | 3,122 | 3,264 |
In addition to the fees listed above, the independent examiner also received £337 (2023: £4,667) during the year pertaining to accountancy services.
12. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
13. STAFF COSTS
| Wages and salaries The average monthly head count during the year was 3 staff (2023 : 3). The average monthly number of employees during the year was as follows: Direct charitable employees |
2024 £ 40,339 40,339 2024 3 |
2023 £ 39,059 |
|---|---|---|
| 39,059 | ||
| 2023 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 2024
14. TANGIBLE FIXED ASSETS
| Freehold Physio, property office and and other Furniture improvements equipment & fittings £ £ £ COST At 1 January 2024 and 31 December 2024 167,810 71,095 7,587 DEPRECIATION At 1 January 2024 66,138 69,330 7,137 Charge for year 2,610 364 65 At 31 December 2024 68,748 69,694 7,202 NET BOOK VALUE At 31 December 2024 99,062 1,401 385 At 31 December 2023 101,672 1,765 450 15. STOCKS Sundry stocks 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Wages payable Accruals and deferred income 17. MOVEMENT IN FUNDS At 1.1.24 £ Unrestricted funds Undesignated 125,176 Designated funds 41,657 166,833 TOTAL FUNDS 166,833 |
||
|---|---|---|
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the year ended 31 December 2024
17. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Undesignated | 63,647 | (69,361) | (5,714) |
| Designated funds | - | (1,731) | (1,731) |
| 63,647 | (71,092) | (7,445) | |
| TOTAL FUNDS | 63,647 | (71,092) | (7,445) |
Comparatives for movement in funds
| Unrestricted funds Undesignated Designated funds Restricted funds Restricted funds TOTAL FUNDS |
At 1.1.23 £ 90,371 43,428 133,799 579 134,378 |
Net movement in funds £ 29,841 (1,771) 28,070 4,385 32,455 |
Transfers between funds £ 4,964 - 4,964 (4,964) - |
At 31.12.23 £ 125,176 41,657 |
|---|---|---|---|---|
| 166,833 - |
||||
| 166,833 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds Undesignated Designated funds Restricted funds Restricted funds TOTAL FUNDS |
Incoming resources £ 105,329 - 105,329 4,385 109,714 |
Resources Movement expended in funds £ £ (75,488) 29,841 (1,771) (1,771) (77,259) 28,070 - 4,385 (77,259) 32,455 |
|---|---|---|
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Lincolnshire MS Therapy Centre Ltd
Notes to the Financial Statements - continued for the year ended 31 December 2024
17. 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 1.1.23 £ 90,371 43,428 133,799 579 134,378 |
Net movement in funds £ 24,127 (3,502) 20,625 4,385 25,010 |
Transfers between funds £ 4,964 - 4,964 (4,964) - |
At 31.12.24 £ 119,462 39,926 |
|---|---|---|---|---|
| 159,388 - |
||||
| 159,388 |
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 | 168,976 | (144,849) | 24,127 |
| Designated funds | - | (3,502) | (3,502) |
| 168,976 | (148,351) | 20,625 | |
| Restricted funds | |||
| Restricted funds | 4,385 | - | 4,385 |
| TOTAL FUNDS | 173,361 | (148,351) | 25,010 |
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 2024
18. RELATED PARTY DISCLOSURES
The were no related party transactions for the year ended 31 December 2024 nor year ended 31 December 2023.
19. POST BALANCE SHEET EVENTS
At the year end and looking forward 12 months from approval, the company remains a going concern.
20. 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.
21. CONTROLLING INTEREST
There is no ultimate controlling interest.
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