REGISTERED COMPANY NUMBER: 02374648 (England and Wales) REGISTERED CHARITY NUMBER: 701925
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester Leicestershire LE1 7RU
LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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Page
Report of the Trustees 1 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10 to 11
Notes to the Financial Statements 12 to 18
Detailed Statement of Financial Activities 19 to 20
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
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).
The Trustees' report also incorporates the Directors' report.
OBJECTIVES AND ACTIVITIES
Objectives and aims
Our vision: empowering and enabling people living with Multiple Sclerosis (MS) and other health conditions to actively manage their lives.
Our mission: to deliver coordinated, holistic, and person-centred support services and therapies to people living with MS and other health conditions assisting them in managing their daily lives.
The Centre's objectives and principal activities are:
To aid and improve, for the public benefit, the condition of those living with MS and other health conditions by any lawful means including any of the following: -
By bringing together persons living with MS, persons interested in MS and any other health conditions. By providing advice, guidance and moral and practical support for persons living with MS and any other health conditions.
By providing therapy, including oxygen therapy, for persons living with MS or other symptoms or conditions in accordance with the protocols and guidelines of the principal company and with the prior written consent of the principal company.
To improve the physical, mental, emotional, and social health and wellbeing of people living with MS, other health conditions, and their families/carers, to achieve their potential and ensure that they have the confidence and capacity to be active members and contributors in their local communities and civil society.
Significant activities
The main activities employed to assist the Centre in meeting its objectives in 2023 included the following: Provision of a facility where self-management support, information and advice is available that will enable people living with MS and other long-term conditions, and their family/carers, to manage their lives.
Individual physiotherapy sessions and group physiotherapy classes are offered to people living with MS and other health conditions.
Holistic therapies including acupuncture, reflexology, massage, Hopi ear candles, and aromatherapy. Oxygen therapy for people living with MS and a wide range of other health conditions.
Changes to the board of trustees .
Following the AGM June 2023, Richard Hughes, trustee and former Treasurer sadly passed away, our thoughts are with Rik's family and many friends. He will be missed by all. Peter Crossley came on board as trustee.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Maintained our values, and our purpose, and services. Minimised the financial risk to the Centre. Retained our core staff team.
Worked collaboratively in responding to contingency planning, client needs, assessing operational risks and in developing policies and practices.
Successfully raised funds to sustain the Centre and maintained and developed services. Maintained our relationship with members and volunteers.
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
ACHIEVEMENT AND PERFORMANCE
Fundraising activities
We are grateful to the all the volunteers who offer their services to help with the Match day parking. The Centre would also like to thank Ryan Archer, the Young Farmers and supporters for the fourth year of Tractor Run held in December 2023 and all the supporters and friends who assisted in this fundraising event.
FINANCIAL REVIEW
Reserves policy
The charity requires General Reserves, that is, funds that are freely available for the Trustees to spend in furtherance of the objects, in order to bridge the funding gap between spending on the operational activities and receiving resources through grants that provide funding.
The Trustees believe that an ideal level of General Reserves, excluding those designated for fixed assets, would be equivalent to approximately twelve months fixed expenditure which, based on existing budgets, will be approximately £155,000, but this figure is kept under review annually.
At 31 December 2023, the General Reserves were £349,647 which is sufficiently higher than the agreed reserves figure. The Trustees are in the initial phase of planning to allocate a significant amount of funds from their general reserves to the purchase of a building through which to operate. At the present time, an ideal figure has not yet been decided, hence the excess of general reserves has not been allocated to a designated fund. The Trustees will continue to monitor the level of reserves to ensure that they remain adequate for the charity's needs.
FUTURE PLANS
The trustees welcome fresh ideas, enthusiasm, and commitment being shown by new trustees, and the invaluable support provided by every trustee. The Centre is actively developing strategies to plan for the future. Key to moving forward and growing the Centre is building on its learning and achievements, diversifying its income stream, creating a shared vision, mission, values, and principles. The work continues with the strategic groups: Financial Stability - meeting on a regular basis with treasurer, accountant, Company secretary and chairman. Forward Thinking and Planning - focusing on what we need to do and how to get there. Marketing and Branding.
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.
The Centre is a charitable company limited by guarantee, incorporated on 21 April 1989. Registered as a charity 26th August 1985. The company was established under a memorandum of association, which established the objects and powers of the Centre, and is governed under its articles of association. In the event of the Centre being wound up, members are required to contribute an amount not exceeding £1.00. The Centre (Leicestershire Multiple Sclerosis Therapy Centre Limited) was formally known as A.R.M.S. Leicestershire Limited but changed its name on 18th February 2000.
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
The original members of the company consisted of the founder member and ordinary members. The founder member was ARMS (Action and Research for Multiple Sclerosis Limited), but this no longer operates. The Centre now consists of members, who are persons with MS or those with an interest in promoting the objects of the Centre. The trustees are selected from the members of the Centre, excluding employees.
The trustees, including directors of the Centre, are charity trustees for the purpose of the charity law. Under the requirements of the Memorandum of Articles of Association, the trustees are elected to serve for three years. It is advisable Trustees take a break after three terms.
The trustees seek to ensure that the needs of the members are appropriately reflected throughout the diversity of the trustee body. There is a mix of members who use the facilities offered by the Centre, and others who have an interest in the aims of the Centre and can offer appropriate business, clinical, or relevant skills. All members, apart from employees, are eligible to become trustees. The Centre has members with large variety of race, colour, and creeds.
Trustee induction and training
Trustees are already familiar with the practical work of the Centre, having either used the facilities or volunteered to help in the operation of the Centre prior to taking up the role of trustee. New trustees are invited and encouraged to attend short briefing sessions to familiarise themselves with the Centre and the context within which it operates. These are led by the chair of of trustees and the Centre manager and will cover:-
The obligations of the trustees.
The main documents which set out the operational framework for the Centre, including the memorandum of articles. Resourcing and the current financial position as set out in the latest published accounts. Future plans and objectives.
Information is provided drawing from the various regulator publications, and this will be distributed to all new trustees along with the Memorandum of Articles and the latest financial statement.
Trustees are encouraged to attend any appropriate training events and any notes from these are circulated to other trustees to ensure the key learning points are shared.
Risk management
The trustees regularly undertake a review of the risks to which the Centre is exposed, particularly business, operational, and financial risks. The Centre has introduced procedures and reporting regimes to mitigate and manage risks. Internal control systems are designed to meet the Centre's operating needs, the risks to which it is exposed, and to provide reasonable assurance against misstatement or loss. The Centre ensures the Health and Safety policy outline procedures to ensure compliance with health and safety of staff, volunteers, members, and visitors to the Centre. Internal control risks are minimised by the implementation of procedures for authorisation of all transaction and projects. Other policies are in place covering the protection of vulnerable adults, GDPR-data protection, complaints, confidentiality, volunteering, and equal opportunities. The Centre operates regular procedures to monitor the receipt of income, and capital expenditure.
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The Centre has up to 11 trustees who meet every three months, on a formal basis. Trustees will be invited to contribute their skills and expertise in agreed sub-groups for certain projects. In addition, the Centre manager communicates regularly for the purpose of taking forward specific work areas. The trustees are responsible for the strategic direction and policy of the Centre.
A scheme of delegation is in place. Day to day responsibility for the provision of the services rests with the Centre manager, who oversees operational management of the Centre and individual supervision of the staff team. The manager also carries out fundraising activities and ensures that the team contributes to develop their skills and working practices in line with good practice.
The trustees would like to acknowledge the continued and valued contribution to the smooth running of the Centre from its dedicated group of volunteers. Volunteers contribute to all aspects of service delivery including the operation of the oxygen chamber, essential maintenance and repair, and cleaning and hygiene input. The trustees also act in a voluntary role and make considerable input to the direction of the Centre.
Decision making
The trustees are responsible for preparing an annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Centre's trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the Centre and of the income and expenditure, of the Centre for that period. In preparing the financial statements, the trustees are required to:
Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the charities SORP. Make judgements and 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.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Centre and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Centre and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Centre's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new trustees
Trustees are already familiar with the practical work of the Centre, having either used the facilities or volunteered to help in the operation of the Centre prior to taking up the role of trustee.
New trustees are invited and encouraged to attend short briefing sessions to familiarise themselves with the Centre and the context within which it operates. These are led by the chair of trustees and the Centre manager and will cover:The obligations of the trustees.
The main documents which set out the operational framework for the Centre, including the memorandum of articles. Resourcing and the current financial position as set out in the latest published accounts. Future plans and objectives.
Information is provided drawing from the various regulator publications, and this will be distributed to all new trustees along with the Memorandum of Articles and the latest financial statement.
Trustees are encouraged to attend any appropriate training events and any notes from these are circulated to other trustees to ensure the key learning points are shared.
Key management remuneration
Remuneration of £42,486 was paid to key management during the year (2022 - £33,592).
Wider network
Assessing risks and resilience
The centre has more work experience students visiting the centre, some are here for a week, some longer. In October 2022 the trustees decided to relook at safeguarding policies and introduced a policy 'Work placement students, young adults and children'. This was distributed to all trustees, staff, volunteers and members.
A strong governance framework
One of the key outcomes over the last two years has been the trustees have had to continue to think about how they govern and adapt to rapidly changing circumstances. However, it is imperative that governance changes are managed effectively and continue to be in the best interests of the Centre. The trustees have been dedicated and worked hard to provide good strong leadership and a clear strategic direction.
Additionally, the Centre has:
Actively engaged and updated with its members and supporters through social media platforms and regular newsletters. Actively engaged the trustees, staff, and volunteers in developing contingency plans and assessing and minimising risks. Improved our awareness within the area by having a new design of our logo, and rebranding to make the Centre more noticeable. A new website was created and launched in November to encourage a wider audience of people requiring our services.
There have been members who have joined who suffer from various conditions such as Dementia and Alzheimers who were advised by medical professionals.
Service Developments
From December 2022: The centre has purchased a Litegait machine. LiteGait therapy allows members to safely engage in progressively challenging functional activities, benefiting with lower extremity pain, lower extremity and trunk weakness, weight-bearing restrictions or amputation, diminished cardiopulmonary function, and poor activity tolerance. LiteGait therapy also benefits higher-functioning clients be challenged and progressed in a fall-free environment.
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Related parties
In so far as it is complementary to the charity's objects, the Centre is guided by both local and national policy. The Centre is a member of the MS National Centres (MSNTC), an umbrella charity registered in England, Wales, and Scotland. As a member of the MSNTC, the Centre benefits from reduced oxygen prices, training, and the provision of national standards for the delivery of oxygen therapy. MSNTC holds open meetings around the UK to enable Centres to communicate and share ideas and best practice. The representation of other Centres within this group has proved invaluable to the Centre in establishing improved links within the MS community and identifying relevant policy developments and prospective treatments and how they may be funded.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02374648 (England and Wales)
Registered Charity number 701925
Registered office
31 Freemans Common Road Leicester LE2 7SQ
Trustees
A Skevington J Adams (resigned 28.6.2023) S Wilson L Butcher E Woods R Griebel H Proudman L Wells R Archer R Hughes (resigned 16.7.2023) P Crossley (appointed 29.6.2023)
Independent Examiner
Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester Leicestershire LE1 7RU
Bankers
Barclays Bank Plc Leicester LE87 2BB
Centre Manager
The MS Therapy Centre was managed by Josephine Hill during the period.
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
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 11 June 2024 and signed on its behalf by:
S Wilson - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
Independent examiner's report to the trustees of Leicestershire Multiple Sclerosis Therapy Centre Limited ('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:
-
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
-
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.
Use of our report
This report is made solely to the charity's members. 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 work, for this report, or for the opinions we have formed'
Mr P Bott FCA
Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester Leicestershire LE1 7RU
12 June 2024
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 188,331 Other trading activities 3 17,172 Investment income 4 1,126 Total 206,629 EXPENDITURE ON Charitable activities Charitable activities 156,843 NET INCOME 49,786 Transfers between funds 13 20,000 Net movement in funds 69,786 RECONCILIATION OF FUNDS Total funds brought forward 337,512 TOTAL FUNDS CARRIED FORWARD 407,298 |
Restricted fund £ - - - - - - (20,000) (20,000) 20,000 - |
2023 Total funds £ 188,331 17,172 1,126 206,629 156,843 49,786 - 49,786 357,512 407,298 |
2022 Total funds £ 160,966 6,946 223 168,135 136,403 31,732 - 31,732 325,780 357,512 |
|---|---|---|---|
The notes form part of these financial statements
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
BALANCE SHEET 31 DECEMBER 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 57,951 CURRENT ASSETS Debtors 10 13,083 Cash at bank and in hand 343,190 356,273 CREDITORS Amounts falling due within one year 11 (6,926) NET CURRENT ASSETS 349,347 TOTAL ASSETS LESS CURRENT LIABILITIES 407,298 NET ASSETS 407,298 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - |
2023 Total funds £ 57,951 13,083 343,190 356,273 (6,926) 349,347 407,298 407,298 407,298 - 407,298 |
2022 Total funds £ 47,981 14,359 304,032 318,391 (8,860) 309,531 357,512 357,512 337,512 20,000 357,512 |
|---|---|---|---|
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
-
(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.
The notes form part of these financial statements
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
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 11 June 2024 and were signed on its behalf by:
S Wilson - Trustee
The notes form part of these financial statements
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
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.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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.
Voluntary income is received by way of donations and legacies and is included in full in the Statements of Financial Activities when receivable.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost Plant and machinery - 20% on cost Computer equipment - 33% on cost
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES - continued
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Going concern
The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
2. DONATIONS AND LEGACIES
| Donations Gift aid |
2023 £ 177,650 10,681 188,331 |
2022 £ 145,566 15,400 160,966 |
|---|---|---|
continued...
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 3. OTHER TRADING ACTIVITIES Fundraising events 4. INVESTMENT INCOME Interest received 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Independent exam Depreciation - owned assets Other operating leases |
2023 £ 17,172 2023 £ 1,126 2023 £ 3,300 23,835 7,750 |
2022 £ 6,946 2022 £ 223 2022 £ 3,000 16,808 7,750 |
|---|---|---|
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for 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.
7. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Average number of employees |
2023 £ 74,101 1,576 75,677 2023 3 |
2022 £ 59,241 3,200 62,441 2022 3 |
|---|---|---|
No employees received emoluments in excess of £60,000.
continued...
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
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8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - 31 DECEMBER 2022
Unrestricted Restricted Total
fund fund funds
£ £ £
INCOME AND ENDOWMENTS FROM
-
Donations and legacies 160,966 160,966
-
Other trading activities 6,946 6,946
Investment income 223 - 223
Total 168,135 - 168,135
EXPENDITURE ON
Charitable activities
Charitable activities 136,403 - 136,403
NET INCOME 31,732 - 31,732
RECONCILIATION OF FUNDS
Total funds brought forward 305,780 20,000 325,780
TOTAL FUNDS CARRIED FORWARD 337,512 20,000 357,512
9. TANGIBLE FIXED ASSETS
Leasehold Plant and Computer
improvements machinery equipment Totals
£ £ £ £
COST
At 1 January 2023 42,013 51,100 1,964 95,077
Additions - 31,800 2,005 33,805
At 31 December 2023 42,013 82,900 3,969 128,882
DEPRECIATION
At 1 January 2023 16,325 29,461 1,310 47,096
Charge for year 5,933 16,580 1,322 23,835
At 31 December 2023 22,258 46,041 2,632 70,931
NET BOOK VALUE
At 31 December 2023 19,755 36,859 1,337 57,951
At 31 December 2022 25,688 21,639 654 47,981
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors Accruals and deferred income |
2023 £ 12,599 484 13,083 2023 £ - 1,388 5,538 6,926 |
2022 £ 13,882 477 14,359 2022 £ 4,660 - 4,200 8,860 |
|---|---|---|
12. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years |
2023 £ - - - |
2022 £ 7,750 23,250 31,000 |
|---|---|---|
Following a legal dispute between the freehold and leasehold owner of the property that LMSTC occupies, the quarterly rental payments paid by the charity have been placed in a trust, to be held until the verdict of a court decision. Due to the uncertainty of payment being made, the minimum lease payments under non-cancellable operating leases have not been disclosed above.
13. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds M.S Equipment fund TOTAL FUNDS |
At 1.1.23 £ 337,512 20,000 357,512 |
Net movement in funds £ 49,786 - 49,786 |
Transfers between funds £ 20,000 (20,000) - |
At 31.12.23 £ 407,298 - 407,298 |
|---|---|---|---|---|
continued...
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
13. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 206,629 TOTAL FUNDS 206,629 Comparatives for movement in funds At 1.1.22 £ Unrestricted funds General fund 305,780 Restricted funds M.S Equipment fund 20,000 TOTAL FUNDS 325,780 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 168,135 TOTAL FUNDS 168,135 |
Resources Movement expended in funds £ £ (156,843) 49,786 (156,843) 49,786 Net movement At in funds 31.12.22 £ £ 31,732 337,512 - 20,000 31,732 357,512 Resources Movement expended in funds £ £ (136,403) 31,732 (136,403) 31,732 |
|---|---|
Unrestricted funds comprise those funds which the Trustees are free to use in accordance with the charity's objects.
M.S equipment fund.
A restricted fund relating to a legacy donated with the specific instruction of the amount only being used to purchase equipment that directly benefits individuals suffering with Multiple Sclerosis.
continued...
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
13. MOVEMENT IN FUNDS - continued
Transfers between funds
Following the purchase of the specific assets to which the sole restricted fund relates, the balance of the MS equipment fund relating to said assets was transferred to unrestricted funds as there are no restrictions imposed on the assets.
14. EMPLOYEE BENEFIT OBLIGATIONS
The company operates a pension scheme. During the year, the company made contributions of £1,576 (2022 - £3,200). At the year end, there were no contributions outstanding (2022 - £Nil).
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023 (2022 - £Nil)
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Other trading activities Fundraising events Investment income Interest received Total incoming resources EXPENDITURE Charitable activities Wages Pensions Rent Rates and water Insurance Light and heat Telephone Postage and stationery Advertising Sundries Oxygen Lift expenditure Chamber running costs Bank charges Repairs and renewals Depreciation Support costs Governance costs Independent exam Accountancy and legal fees |
2023 £ 177,650 10,681 188,331 17,172 1,126 206,629 74,101 1,576 7,750 2,080 2,898 2,799 1,449 2,158 1,257 4,310 9,962 1,829 2,084 1,257 8,690 23,835 148,035 3,300 5,508 8,808 |
2022 £ 145,566 15,400 160,966 6,946 223 168,135 59,241 3,200 7,750 2,750 2,793 2,447 930 3,560 - 5,414 9,247 - 5,036 2,301 8,706 16,808 130,183 3,000 3,220 6,220 |
|---|---|---|
This page does not form part of the statutory financial statements
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LEICESTERSHIRE MULTIPLE SCLEROSIS THERAPY CENTRE LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Total resources expended Net income |
2023 £ 156,843 49,786 |
2022 £ 136,403 31,732 |
|---|---|---|
This page does not form part of the statutory financial statements
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