1
M S Information and Therapy Centre Ltd
Trustees Report and Financial Statements for the Year Ended 31 December 2020
Charity number 800909 Company number 2294597
2
| Contents | Page |
|---|---|
| Trustees Report | 1-6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the financial statements | 9-15 |
| Independent Examiners Report | 16 |
3
The Management Committee present their report and the financial statements for the year ended 31 December 2020.
Reference and Administrative Information
Charity Name: M S Information and Therapy Centre Ltd
Charity registration number: 800909 Company registration number: 2294597 Registered Office: 71-75 Frampton Road, Gloucester GL1 5QB
Trustees
Duncan Smitton Chairman (appointed 1 July 2020) John Prout Treasurer Hazel Chapman
Staff
Rachael Mason - Centre Manager
Company Secretary
Daniel Haigh (until 31 March 2021)
4
Structure, Governance and Management
The Company, incorporated under the Companies Act 1985, on 9 September 1988, is Limited by Guarantee and does not have share capital. The registered office is 71-75 Frampton Road, Gloucester GL1 5QB
Objectives and Activities
Objective
The object for which the Centre was established was and is to aid and improve the condition of those diagnosed with neurological, long term or chronic conditions including Multiple Sclerosis, the area of operation being the Gloucestershire as well as neighbouring counties.
Public Benefit
The Trustees are satisfied that the Charity's stated objective falls within the category "advancement of health" which is set out in the Charities Act 2011. The Charity meets this objective through the provision of oxygen therapy and other alternative, holistic and self-help therapies principally to people with Multiple Sclerosis but also to other members of the public who seek to obtain benefit from such therapies.
The Trustees have complied with the Charities Act 2011 and their duty to 'have regard' to public benefit guidance provided by the Charity Commission when exercising powers or duties to which the guidance is relevant.
Principal Activity
The main activity of the Charity continues to be the provision of oxygen therapy and other alternative, holistic and self-help therapies which are provided at the charities building in Frampton Road Gloucester. This building enables an extended range of services to be made available for the benefit of members. Apart from the provision of oxygen therapy, the therapies provided are by independent providers and not directly by the Charity.
Review of Activities
The Centre continues to provide a wide range of therapies. It is noted that the COVID-19 pandemic has caused a significant reduction in the number of therapies provided with the centre shut entirely for 3 months and then on a very limited basis until the end of 2020. The statistics for activities are as follows for the year ending 31[st] December 2020:
-
186 active members
-
7 Therapists & 13 Oxygen operators
-
1235 Oxygen therapies
-
65 Acupuncture Sessions
-
105 Massage Sessions
-
1 Cognitive Behavior Therapies
5
Staff & Volunteers
The Management Committee continue to recognise and appreciate the enthusiasm and commitment of the Centre manager, and the help provided by all volunteers is essential and greatly appreciated.
Financial Review
The Centre receives no funds of any description from any statutory body. The Centre is, therefore, dependent on a high level of fundraising, and is particularly grateful for all the fundraising activities carried out to raise funds and to everyone who organises such activities.
The result for the year was a deficit of £9,577 this was partly due to the additional cost incurred by the centre during the pandemic and reduced income. The COVID-19 pandemic incurred additional costs for PPE and cleaning equipment. The Centre improved its overall fixed assets with the purchase of iPads laptops and associated equipment to run the centre virtually. To allow additional opening the centre has also made internal building improvements to create more therapy rooms allowing social distancing to be achieved more easily.
There was an increased level of grant income (£43,750 v £4,620) but a drop in contributions from oxygen therapy sessions from £25,409 to £13,926.
It has been noted that as the charity becomes better known and has a better reputation within its new location, it is better able to attract grants and corporate donations. It is the desire of the management committee to continue to promote the centre and its services in order to increase this area of funding.
The COVID-19 pandemic in early 2020 brought the opportunity for the centre manager to widen her skills in regard to grant applications and improvement in the ability to promote the charity to local companies resulting in large donations.
Reserves Policy
The trustees regularly review and update the reserves policy in line with on-going commitments. The management committee have agreed that the target level of free reserves is 6 months' expenditure, which is £43,500. Free reserves are in excess of the reserves policy by £44,703.
Future Plans
The Centre will continue to deliver the services identified above. In particular, we will:
-
Develop the range of therapies that benefit the members and in 2021 plan to add Yoga, Pilates and expand our counselling provision.
-
Increase our provision of assisted exercise machines and equipment.
-
Monitor the maintenance and upkeep of the building to ensure it remains in a state of good repair.
-
To promote the centre to all those who may benefit from it rather than just those diagnosed with MS.
-
In order to continue to build awareness of the charity and its provision we will undertake a branding change in order to become more inclusive to a wider range of potential users.
-
In 2020 we built relationships with the promotors within the NHS this has generated new referrals and those relationships will continue to be built on in 2021.
-
Continue to build and maintain close working relations with enablers from other charities.
-
To begin a wider project to not only support the individuals living with long term conditions
6
but also to assist the carers of these individuals.
-
Focus our funding efforts on the application for grants and corporate gifting to provide long term improvements and provisions. Allowing member donations and small fundraising events to cover the base running costs of existing provisions.
-
Continue to ensure that the Centre is managed efficiently providing a safe and supportive environment for its users.
Small Company Rules
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Statement of Trustee Responsibilities
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements the trustees are required and have fulfilled the requirements to:
-
select suitable accounting policies and apply them consistently.
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the trustees on 11[th] June 2021 and signed on its behalf
D Smitton
Trustee – Chairman
7
M S Information and Therapy Centre Ltd Statement of Financial Activities for the year ended 31 December 2020 (including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Unrestricted Funds Note £ INCOMING RESOURCES Donations and Legacies 2 61,651 Other trading activities 3 26,711 Investment Income 4 254 TOTAL INCOME 88,616 EXPENDITURE ON: Raising Funds 5 7,491 Charitable activities 6 73,452 TOTAL EXPENDITURE 80,943 NET INCOME 7,673 RECONCILIATION OF FUNDS Total funds brought forward 81,112 Total funds carried forward 88,785 |
Restricted Funds £ - - - - - 17,250 17,250 (17,250) 57,326 40,076 |
Total Funds 2020 £ 61,651 26,711 254 88,616 7,491 90,702 98,193 (9,577) 138,438 128,861 |
Total Funds 2019 £ 32,956 56,042 590 89,588 6,870 79,319 86,189 3,399 135,039 138,438 |
|---|---|---|---|
8
M S Information and Therapy Centre Ltd Balance Sheet as at 31 December 2020
| Note Fixed Assets Tangible Assets 12 Current Assets Stocks Debtors 13 Cash at bank and in hand Creditors: Amounts falling due within one year 14 Net Current Assets Net Assets Funds of the charity: 16,17 Restricted funds Unrestricted funds Total funds |
2020 £ 33,561 843 4,826 90,315 _ 95,984 684 95,300 128,861 40,076 88,785 128,861 |
2019 £ 42,015 843 4,785 91,052 _ 96,680 257 96,423 138,438 57,326 81,112 |
|---|---|---|
138,438 |
The financial statements on pages 4 to 12 were approved by the trustees and authorised for issue on and signed on their behalf by
John Prout Trustee
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
9
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
1 ACCOUNTING POLICIES
Basis of preparation and assessment of going concern
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102),the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP FRS 102) and the Companies Act 2006.
The charitable company meets the definition of a public benefit entity under FRS 102. The Trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The financial statements are presented in sterling (£) and are rounded to the nearest £.
Income
Income, excluding donations, is included in the financial statements using the accruals concept. Grants are recognised when the entitlement, certainty and measurement conditions have been met. Donations are included as and when received. Income tax recoverable on gift aided donations is included in the period in which it is received.
Gifts in kind received for resale are recognised when the gift is sold using the sales value. The contribution of volunteers is not included in the Statement of Financial Activities.
Expenditure
The cost of generating funds includes costs of generating voluntary income. Charitable activities costs include expenditure on delivering oxygen therapy.
Liabilities
Liabilities are recognised in the accounts as soon as a present obligation arises from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
10
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
Fund accounting
General funds are expendable at the discretion of the Trustees in furtherance of the charity's objects and which have not been designated for other purposes.
In light of the size of the charity, its policy is to build up a reserve of at least one year’s operating costs. Restricted funds contain income which has been received for specific purposes, less the related expenditure against these.
Leasing commitments
Rentals paid under operating leases are charged to the statement of financial activities as incurred.
Pensions
The pension costs represent amounts payable by the charity during the year.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Allocation of support costs
The only material allocation of support costs is the salary of the only employee of the charity. 25% of their cost is allocated to fundraising and 75% to charitable activities which is thought to be a reasonable allocation reflecting the time spent on these activities.
Tangible fixed assets
Tangible fixed assets are included at cost.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, an entire year’s depreciations is applied to a financial year regardless as to when the asset was purchased in the year. Rates applied are: Oxygen Chamber: 15% on reducing balance Fixtures and fittings: 16.6% straight line Computers: 33.3% straight line
Donated assets given for use by the charity are recognised at their market value as incoming resources and within the relevant fixed asset category on the balance sheet when receivable.
11
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
2 Income from donation and legacies
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| 2020 | 2019 | |||
| £ | £ | £ | £ | |
| Donations and legacies: | ||||
| Donations from individuals | 17,901 | - | 17,901 | 17,373 |
| Gift aid reclaimed | - | - | - | 10,963 |
| Grants, including capital grants | 43,750 | - | 43,750 | 4,620 |
| ______ | ______ | _____ | _____ | |
| 61,651 | - | 61,651 | 32,956 |
3 Income from other trading activities
| 3 Income from other trading activities | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| 2020 | 2019 | |||
| £ | £ | £ | £ | |
| Contributions towards Oxygen Therapy | 13,926 | - | 13,926 | 25,409 |
| Fundraising/Other Income | 12,785 | - | 12,785 | 30,633 |
| ______ | ______ | ______ | _____ | |
| 26,711 | - | 26,711 | 56,042 | |
| 4 Investment Income | ||||
| Unrestricted | Restricted | Total | Total | |
| 2020 | 2019 | |||
| £ | £ | £ | £ | |
| Other investment income | 254 | - | 254 | 590 |
| 5Cost of Raising Funds | ||||
| Unrestricted | Restricted | Total | Total | |
| 2020 | 2019 | |||
| £ | £ | £ | £ | |
| Allocated staff costs | 6,375 | - | 6,375 | 5,320 |
| Direct costs of activities | ||||
| generating funds | 1,116 | - | 1,116 | 1,550 |
| ______ | ______ | ______ | _____ | |
| 7,491 | - | 7,491 | 6,870 |
12
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
6 Cost of charitable activities
| 6 Cost of charitable activities | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| 2020 | 2019 | |||
| £ | £ | £ | £ | |
| Allocated staff cost | 19,127 | - | 19,127 | 15,960 |
| Direct cost of therapy treatments | 800 | - | 800 | 1,878 |
| Therapy centre costs | 53,525 | 17,250 | 70,775 | 61,481 |
| _ | ______ | ______ | ______ | |
| 73,452 | 17,250 | 90,702 | 79,319 |
7 Governance Cost
There are no charges in the year for production and examination of the statutory accounts
8 Operating Costs
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Operating leases – Land and Buildings | 17,250 | 17,250 |
| Depreciation of fixed assets | 9,663 | 9,560 |
9 Trustees remuneration and expenses
No trustees have received any remuneration or have been reimbursed expenses for the charity during the year.
13
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
10 Staff costs
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| The charity had one member of staff in the year | ||
| Staff costs during the year were: | ||
| Wages and salaries | 25,402 | 20,895 |
| Social security costs | - | - |
| Pension costs | 100 | 385 |
| The monthly average of staff time dedicated to running the charity expressed as full-time | ||
| equivalents is: | ||
| 2020 | 2019 | |
| Management/Administration/Fundraising | 0.80 | 0.80 |
A NEST defined contribution pension scheme is provided by the employer with total employer contributions to the scheme being £450.
No employee received more than £60,000 during the year.
11 Taxation
The charity is a registered charity and has not made any profits which would be subject to corporation tax
14
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
12 Tangible Fixed Assets
| Computer | Oxygen | Fixtures | ||
|---|---|---|---|---|
| Equipment | Chamber | & Fittings | Total | |
| Cost | ||||
| As at 1 January 2020 | - | 18,873 | 45,401 | 64,274 |
| Additions | 1,209 | - | - | 1,209 |
| Disposals | - | - | - | - |
| As at 31 December 2020 | 1,209 | 18,873 | 45,401 | 65,483 |
| Depreciation | ||||
| As at 1 January 2019 | - | 7,580 | 14,679 | 22,259 |
| Charge for the year | 403 | 1,693 | 7,567 | 9,663 |
| Disposals | - | - | - | - |
| As at 31 December 2019 | 403 | 9,273 | 22,246 | 31,922 |
| Net Book Value | ||||
| As at 1 January 2019 | - | 11,293 | 30,722 | 42,015 |
| As at 31 December 2019 | 806 | 9,600 | 23,155 | 33,561 |
| 13 Debtors | ||||
| 2020 | 2019 | |||
| £ | £ | |||
| Prepayments | 4,826 | 4,785 | ||
| 14 Creditors: amounts falling due within one year | ||||
| 2020 | 2019 | |||
| £ | £ | |||
| Trade Creditors | - | - | ||
| Other tax and social security | 684 | 257 | ||
| Accruals | - | |||
| _____ | _____ | |||
| 684 | 257 |
15
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
15 Obligations under leases and hire purchase agreements
Total future minimum lease payments under non-cancellable operating leases are as follows:
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Within one year | 17,250 | 17,250 |
| Between two and five years | 34,500 | 51,750 |
| Over five years | - | - |
16 Funds
| Unrestricted As at 1 January 2020 81,112 Income 88,616 Expenditure (80,943) As at 31 December 2020 88,785 |
Restricted Total 57,326 138,438 - 88,616 (17,250) (98,193) |
|---|---|
40,076 128,861 |
17 Analysis of net assets between funds
| Fixed Assets Current Assets Current Liabilities Total |
Unrestricted Restricted Total 33,561 - 33,561 55,908 40,076 95,984 (684) - (684) 88,785 40,076 128,861 |
|---|---|
18 Related party transactions
There were no related party transactions in the year.
1
M S Information and Therapy Centre Ltd
Trustees Report and Financial Statements for the Year Ended 31 December 2020
Charity number 800909 Company number 2294597
2
| Contents | Page |
|---|---|
| Trustees Report | 1-6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the financial statements | 9-15 |
| Independent Examiners Report | 16 |
3
The Management Committee present their report and the financial statements for the year ended 31 December 2020.
Reference and Administrative Information
Charity Name: M S Information and Therapy Centre Ltd
Charity registration number: 800909 Company registration number: 2294597 Registered Office: 71-75 Frampton Road, Gloucester GL1 5QB
Trustees
Duncan Smitton Chairman (appointed 1 July 2020) John Prout Treasurer Hazel Chapman
Staff
Rachael Mason - Centre Manager
Company Secretary
Daniel Haigh (until 31 March 2021)
4
Structure, Governance and Management
The Company, incorporated under the Companies Act 1985, on 9 September 1988, is Limited by Guarantee and does not have share capital. The registered office is 71-75 Frampton Road, Gloucester GL1 5QB
Objectives and Activities
Objective
The object for which the Centre was established was and is to aid and improve the condition of those diagnosed with neurological, long term or chronic conditions including Multiple Sclerosis, the area of operation being the Gloucestershire as well as neighbouring counties.
Public Benefit
The Trustees are satisfied that the Charity's stated objective falls within the category "advancement of health" which is set out in the Charities Act 2011. The Charity meets this objective through the provision of oxygen therapy and other alternative, holistic and self-help therapies principally to people with Multiple Sclerosis but also to other members of the public who seek to obtain benefit from such therapies.
The Trustees have complied with the Charities Act 2011 and their duty to 'have regard' to public benefit guidance provided by the Charity Commission when exercising powers or duties to which the guidance is relevant.
Principal Activity
The main activity of the Charity continues to be the provision of oxygen therapy and other alternative, holistic and self-help therapies which are provided at the charities building in Frampton Road Gloucester. This building enables an extended range of services to be made available for the benefit of members. Apart from the provision of oxygen therapy, the therapies provided are by independent providers and not directly by the Charity.
Review of Activities
The Centre continues to provide a wide range of therapies. It is noted that the COVID-19 pandemic has caused a significant reduction in the number of therapies provided with the centre shut entirely for 3 months and then on a very limited basis until the end of 2020. The statistics for activities are as follows for the year ending 31[st] December 2020:
-
186 active members
-
7 Therapists & 13 Oxygen operators
-
1235 Oxygen therapies
-
65 Acupuncture Sessions
-
105 Massage Sessions
-
1 Cognitive Behavior Therapies
5
Staff & Volunteers
The Management Committee continue to recognise and appreciate the enthusiasm and commitment of the Centre manager, and the help provided by all volunteers is essential and greatly appreciated.
Financial Review
The Centre receives no funds of any description from any statutory body. The Centre is, therefore, dependent on a high level of fundraising, and is particularly grateful for all the fundraising activities carried out to raise funds and to everyone who organises such activities.
The result for the year was a deficit of £9,577 this was partly due to the additional cost incurred by the centre during the pandemic and reduced income. The COVID-19 pandemic incurred additional costs for PPE and cleaning equipment. The Centre improved its overall fixed assets with the purchase of iPads laptops and associated equipment to run the centre virtually. To allow additional opening the centre has also made internal building improvements to create more therapy rooms allowing social distancing to be achieved more easily.
There was an increased level of grant income (£43,750 v £4,620) but a drop in contributions from oxygen therapy sessions from £25,409 to £13,926.
It has been noted that as the charity becomes better known and has a better reputation within its new location, it is better able to attract grants and corporate donations. It is the desire of the management committee to continue to promote the centre and its services in order to increase this area of funding.
The COVID-19 pandemic in early 2020 brought the opportunity for the centre manager to widen her skills in regard to grant applications and improvement in the ability to promote the charity to local companies resulting in large donations.
Reserves Policy
The trustees regularly review and update the reserves policy in line with on-going commitments. The management committee have agreed that the target level of free reserves is 6 months' expenditure, which is £43,500. Free reserves are in excess of the reserves policy by £44,703.
Future Plans
The Centre will continue to deliver the services identified above. In particular, we will:
-
Develop the range of therapies that benefit the members and in 2021 plan to add Yoga, Pilates and expand our counselling provision.
-
Increase our provision of assisted exercise machines and equipment.
-
Monitor the maintenance and upkeep of the building to ensure it remains in a state of good repair.
-
To promote the centre to all those who may benefit from it rather than just those diagnosed with MS.
-
In order to continue to build awareness of the charity and its provision we will undertake a branding change in order to become more inclusive to a wider range of potential users.
-
In 2020 we built relationships with the promotors within the NHS this has generated new referrals and those relationships will continue to be built on in 2021.
-
Continue to build and maintain close working relations with enablers from other charities.
-
To begin a wider project to not only support the individuals living with long term conditions
6
but also to assist the carers of these individuals.
-
Focus our funding efforts on the application for grants and corporate gifting to provide long term improvements and provisions. Allowing member donations and small fundraising events to cover the base running costs of existing provisions.
-
Continue to ensure that the Centre is managed efficiently providing a safe and supportive environment for its users.
Small Company Rules
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Statement of Trustee Responsibilities
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements the trustees are required and have fulfilled the requirements to:
-
select suitable accounting policies and apply them consistently.
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the trustees on 11[th] June 2021 and signed on its behalf
D Smitton
Trustee – Chairman
7
M S Information and Therapy Centre Ltd Statement of Financial Activities for the year ended 31 December 2020 (including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Unrestricted Funds Note £ INCOMING RESOURCES Donations and Legacies 2 61,651 Other trading activities 3 26,711 Investment Income 4 254 TOTAL INCOME 88,616 EXPENDITURE ON: Raising Funds 5 7,491 Charitable activities 6 73,452 TOTAL EXPENDITURE 80,943 NET INCOME 7,673 RECONCILIATION OF FUNDS Total funds brought forward 81,112 Total funds carried forward 88,785 |
Restricted Funds £ - - - - - 17,250 17,250 (17,250) 57,326 40,076 |
Total Funds 2020 £ 61,651 26,711 254 88,616 7,491 90,702 98,193 (9,577) 138,438 128,861 |
Total Funds 2019 £ 32,956 56,042 590 89,588 6,870 79,319 86,189 3,399 135,039 138,438 |
|---|---|---|---|
8
M S Information and Therapy Centre Ltd Balance Sheet as at 31 December 2020
| Note Fixed Assets Tangible Assets 12 Current Assets Stocks Debtors 13 Cash at bank and in hand Creditors: Amounts falling due within one year 14 Net Current Assets Net Assets Funds of the charity: 16,17 Restricted funds Unrestricted funds Total funds |
2020 £ 33,561 843 4,826 90,315 _ 95,984 684 95,300 128,861 40,076 88,785 128,861 |
2019 £ 42,015 843 4,785 91,052 _ 96,680 257 96,423 138,438 57,326 81,112 |
|---|---|---|
138,438 |
The financial statements on pages 4 to 12 were approved by the trustees and authorised for issue on and signed on their behalf by
John Prout Trustee
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
9
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
1 ACCOUNTING POLICIES
Basis of preparation and assessment of going concern
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102),the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP FRS 102) and the Companies Act 2006.
The charitable company meets the definition of a public benefit entity under FRS 102. The Trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The financial statements are presented in sterling (£) and are rounded to the nearest £.
Income
Income, excluding donations, is included in the financial statements using the accruals concept. Grants are recognised when the entitlement, certainty and measurement conditions have been met. Donations are included as and when received. Income tax recoverable on gift aided donations is included in the period in which it is received.
Gifts in kind received for resale are recognised when the gift is sold using the sales value. The contribution of volunteers is not included in the Statement of Financial Activities.
Expenditure
The cost of generating funds includes costs of generating voluntary income. Charitable activities costs include expenditure on delivering oxygen therapy.
Liabilities
Liabilities are recognised in the accounts as soon as a present obligation arises from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
10
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
Fund accounting
General funds are expendable at the discretion of the Trustees in furtherance of the charity's objects and which have not been designated for other purposes.
In light of the size of the charity, its policy is to build up a reserve of at least one year’s operating costs. Restricted funds contain income which has been received for specific purposes, less the related expenditure against these.
Leasing commitments
Rentals paid under operating leases are charged to the statement of financial activities as incurred.
Pensions
The pension costs represent amounts payable by the charity during the year.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Allocation of support costs
The only material allocation of support costs is the salary of the only employee of the charity. 25% of their cost is allocated to fundraising and 75% to charitable activities which is thought to be a reasonable allocation reflecting the time spent on these activities.
Tangible fixed assets
Tangible fixed assets are included at cost.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, an entire year’s depreciations is applied to a financial year regardless as to when the asset was purchased in the year. Rates applied are: Oxygen Chamber: 15% on reducing balance Fixtures and fittings: 16.6% straight line Computers: 33.3% straight line
Donated assets given for use by the charity are recognised at their market value as incoming resources and within the relevant fixed asset category on the balance sheet when receivable.
11
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
2 Income from donation and legacies
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| 2020 | 2019 | |||
| £ | £ | £ | £ | |
| Donations and legacies: | ||||
| Donations from individuals | 17,901 | - | 17,901 | 17,373 |
| Gift aid reclaimed | - | - | - | 10,963 |
| Grants, including capital grants | 43,750 | - | 43,750 | 4,620 |
| ______ | ______ | _____ | _____ | |
| 61,651 | - | 61,651 | 32,956 |
3 Income from other trading activities
| 3 Income from other trading activities | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| 2020 | 2019 | |||
| £ | £ | £ | £ | |
| Contributions towards Oxygen Therapy | 13,926 | - | 13,926 | 25,409 |
| Fundraising/Other Income | 12,785 | - | 12,785 | 30,633 |
| ______ | ______ | ______ | _____ | |
| 26,711 | - | 26,711 | 56,042 | |
| 4 Investment Income | ||||
| Unrestricted | Restricted | Total | Total | |
| 2020 | 2019 | |||
| £ | £ | £ | £ | |
| Other investment income | 254 | - | 254 | 590 |
| 5Cost of Raising Funds | ||||
| Unrestricted | Restricted | Total | Total | |
| 2020 | 2019 | |||
| £ | £ | £ | £ | |
| Allocated staff costs | 6,375 | - | 6,375 | 5,320 |
| Direct costs of activities | ||||
| generating funds | 1,116 | - | 1,116 | 1,550 |
| ______ | ______ | ______ | _____ | |
| 7,491 | - | 7,491 | 6,870 |
12
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
6 Cost of charitable activities
| 6 Cost of charitable activities | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| 2020 | 2019 | |||
| £ | £ | £ | £ | |
| Allocated staff cost | 19,127 | - | 19,127 | 15,960 |
| Direct cost of therapy treatments | 800 | - | 800 | 1,878 |
| Therapy centre costs | 53,525 | 17,250 | 70,775 | 61,481 |
| _ | ______ | ______ | ______ | |
| 73,452 | 17,250 | 90,702 | 79,319 |
7 Governance Cost
There are no charges in the year for production and examination of the statutory accounts
8 Operating Costs
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Operating leases – Land and Buildings | 17,250 | 17,250 |
| Depreciation of fixed assets | 9,663 | 9,560 |
9 Trustees remuneration and expenses
No trustees have received any remuneration or have been reimbursed expenses for the charity during the year.
13
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
10 Staff costs
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| The charity had one member of staff in the year | ||
| Staff costs during the year were: | ||
| Wages and salaries | 25,402 | 20,895 |
| Social security costs | - | - |
| Pension costs | 100 | 385 |
| The monthly average of staff time dedicated to running the charity expressed as full-time | ||
| equivalents is: | ||
| 2020 | 2019 | |
| Management/Administration/Fundraising | 0.80 | 0.80 |
A NEST defined contribution pension scheme is provided by the employer with total employer contributions to the scheme being £450.
No employee received more than £60,000 during the year.
11 Taxation
The charity is a registered charity and has not made any profits which would be subject to corporation tax
14
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
12 Tangible Fixed Assets
| Computer | Oxygen | Fixtures | ||
|---|---|---|---|---|
| Equipment | Chamber | & Fittings | Total | |
| Cost | ||||
| As at 1 January 2020 | - | 18,873 | 45,401 | 64,274 |
| Additions | 1,209 | - | - | 1,209 |
| Disposals | - | - | - | - |
| As at 31 December 2020 | 1,209 | 18,873 | 45,401 | 65,483 |
| Depreciation | ||||
| As at 1 January 2019 | - | 7,580 | 14,679 | 22,259 |
| Charge for the year | 403 | 1,693 | 7,567 | 9,663 |
| Disposals | - | - | - | - |
| As at 31 December 2019 | 403 | 9,273 | 22,246 | 31,922 |
| Net Book Value | ||||
| As at 1 January 2019 | - | 11,293 | 30,722 | 42,015 |
| As at 31 December 2019 | 806 | 9,600 | 23,155 | 33,561 |
| 13 Debtors | ||||
| 2020 | 2019 | |||
| £ | £ | |||
| Prepayments | 4,826 | 4,785 | ||
| 14 Creditors: amounts falling due within one year | ||||
| 2020 | 2019 | |||
| £ | £ | |||
| Trade Creditors | - | - | ||
| Other tax and social security | 684 | 257 | ||
| Accruals | - | |||
| _____ | _____ | |||
| 684 | 257 |
15
M S Information and Therapy Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2020
15 Obligations under leases and hire purchase agreements
Total future minimum lease payments under non-cancellable operating leases are as follows:
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Within one year | 17,250 | 17,250 |
| Between two and five years | 34,500 | 51,750 |
| Over five years | - | - |
16 Funds
| Unrestricted As at 1 January 2020 81,112 Income 88,616 Expenditure (80,943) As at 31 December 2020 88,785 |
Restricted Total 57,326 138,438 - 88,616 (17,250) (98,193) |
|---|---|
40,076 128,861 |
17 Analysis of net assets between funds
| Fixed Assets Current Assets Current Liabilities Total |
Unrestricted Restricted Total 33,561 - 33,561 55,908 40,076 95,984 (684) - (684) 88,785 40,076 128,861 |
|---|---|
18 Related party transactions
There were no related party transactions in the year.
Pi Accountancy INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES, OF M 5 Information and Therapy Centre Ltd I report to the trustees on my examination of the accounts of the above charity for the year ended 315t December 2020 Responsibilities and basis of the report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the Act"). I report in respect of my examination of the charities, accounts carried out under section 145 of the 2011 Act and in carrying out rny examination, I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examinerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination lother than that disclosed below I which gives me cause to believe that in, any material respect- the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements concerning the form and content of account5 set out in the Charities Regulations 2008 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. 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. Mr M Marshall FCCA Pi Accountancy .d . W•bi