Swanley Therapy Centre (S.U.M.S) (A Company Limited by Guarantee) Report and Financial Statements Year ended 31 December 2024 Charity Number 801112 References in the margins are to documents in the 2024 Financlal Report Swanley Therapy Centro (S.U.M.S) Report of the directors and trustees for the year ended 31 December 2024 Pages 3-8 Statement of Financial Activities Page 9 statement of Net Assets Page 10 Accountanls. Report Page11 Notes to the Accounts Pages 12-16 Swanley Therapy Centre (S.U.M.S) Report of the Directors and Trustees for the year ended 31 December 2024 The trustees are pleased to present their report together with the financial ststements of the charity for the year ending 31 Dec8mber 2024. The financial statements have been prepared in accordan￿ with the accounb'ng policies set out in Note 1 to the Accounts and comply with the Charity's trust deed. the Charities Act 2011 and the Ststement of Recommended Practice- Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (the FRSSE). (effective 1 January 2015). Reference and Admlnlstrative Details Charity Number: 801112 Regist•rnd Company Number: 02345991 Principal Offico: Unit 8, Park Road Industrial Estate. Swanley BR8 8AH Bankers: CAF Bank Ltd. 25 Klngs Hill Av•nuè. ME19 Shawbrook Bank. Wathy Hill Buslnoss Park, Br•nlwood, CM13 38E Accountants: Champ ConsulLints Ltd. 34 Croydon Road. Cat•rham. Surr•yi CR3 6QB The directors and trustees serving during the year and Sin￿ the year end were as follows" Chairman: Dayantha Joshua (Appointed: 2611012024) Chairman: Peter Mccann (Deceased: March 2024) Chair of Tru5tees= Paul Dunn (Appointed: 2611012024) Chair of Truslees= Frank Peet (Resigned as Chair of Trustees- 2611012024) Trustee: Frank Peet Trustee.. Simon Clarke Trustee: Sue Bairstow (Appointed: 2611012024) Trustee: Michael Horwood (Appointed: 2611012024) Trustee: Florence Taylor (Deceased: July 2024) Patron.. Lady Barbara Ramsey Senior Staff- Centre Manager- Lindsey Johnson Deputy Manager: Ellen Joseph Voluntary Treasurer- Tracy Anderson (Appointed: 2611012024) Voluntsry Treasurer: Martin Bevan {Deceased: June 2024) Voluntary Secretary: Tra￿Y Sullivan Martin Bevan, who served the Charity as Treasurer foi many years, sadly passed away in June 2024. W8 will always be grateful for Martin's dedication and contributions to the success of the organisation. We wish to acknowledge the support and dedication of Florence Taylor who acted as a Trustee from July 2016 and sadly passed away January 2025. Structure, Governance and Management Governing Document The Cornpany is governed by its Memorandum and Articles of Association dated 10 February. 1989. Appointment of trustees The trustees and the execulive committee are elected from the membership of the organisation. Organisation The operational services are reviewed by an operational committee consisting of: [organisation is run on a day to day basis by the committee consisting of:] Lady Barbara Ramsey Tracy Anderson Simon Clarke Anne Marie Curling Paul Dunn Linda Harris Lindsey Johnson Ellen Joseph Simon North Frank Peet Eileen Saunders Sheila Sheehan Tracey Sullivan Doreen Tavener Objectives and Activities The organisation's principal acts'vity is that of a charity. lis main aims are to: Provide relief through therapeutic services to people wilh multiple sclerosis and other neurological condilions. Promote and assist in ￿Search to causes of MS" this will include activities and association with the Neuro Therapy Network and the MS Society. Provide a welcoming and supportive environment and a venue where members provide mutual support, exchange skills and "expert by experience. advice. Activitles, achievements. and performance We achieve our aims by providing therapeutic hyperbaric oxygen (High Dose Oxygen Therapy) and the provision of day care facilities. We also provide practical support for persons suffering from multiple sclerosis. neurological disorders and olher condrtions including sports injuries. Services are provided in such a way that facilitates access by people of different cultural and ethnic backgrounds and those with physical disabilities. sen50ry and learning disabilities. We provide seNices to clients living in Kent. Surrey and Ihe South Easl. Our services are not available on Ihe NHS. Our medical adviser is Professor Phillip James formerly of Dundee University, who is the widely recognised expert specialising in the High Dose Oxygen Therapy. During 2024 we were able to provide 50 weeks of service. and provided 3,489 (2023 - 3,423) individual oxygen therapy palient sessions. In addition lo oxygen therapy we continue to offer Pilates, Bowen Therapy and Beauty Therapy to members and non-members. During the year. when possible, we have continued opening four momings a week, (13 sessions of oxygen therapy) and a popular Wednesday evening session. This has been achieved with the continual support of a loyal team of volunteer chamber operators. Fundraislng We are grateful to the following for their support during the year ended 31 December 2024:_ Sir Vivian and Lady Barbara Ramsey Chris Burton MSP Lettings Ltd Paula Carr Diabetes Fund Members of the '100- Club Mr and Mrs J E Clarke MA Builders Orpington Rotary Paul Dunn Birchwood Park Golf Club Seniors Frank Peet Family and friends of Chris Davidge Family and friends of Martin Bevan EasyFundraising Ros Wakeman Alison Draper Family and friends of Shital Jethwa Angelo Allodi DSTC Barbie Rose Simon Clarke Alexandra Reichl (London Marathon) Volunteer Support The organisation operates with voluntary unpaid staff. the only paid employees during the year were Lindsey Johnson, Ellen Joseph. Kelly Simonds and Julie Sawyer. Many of our volunteers are drawn from relatives of multiple sclerosis sufferers and local supporters and not only help run the Centfe but support in fundraising avents. The trustees would like to acknowledge the volunteer support for this year provided by: Lady Barbara Ramsey. Frank Orford, Martin and Chrisline Bevan, Sheila Sheehan, Dawn Dellow. Tracey Sullivan. Linda Harris. Tracy Anderson, Heather Bowden, Anne-marie Curling, Doreen Tavener. Simon North. Eileen Saunders, Brenda Gray. Sue Rivers. Jane Towner, Carol Stery and Lesley Playfoot. Public Benefit The trustees have reviewed the aims of the charity and the services it provicles to ensure that they are for the public benefit. There are clear identifiable benefits available to a section of Ihe public i.e. services to people suffering from multiple sclerosis, relaled neurological conditions and other chronic and acute conditions that benefit from HDOT. The Trustees ensure that the serVi￿S are provided at a below market pricing to give accessibility Financial Revlew It is vital that we have sufficient funds lo perform our duties to our members and service user5. The organisation incurred a deficit of £1,057 for the year ended 31 December 2024 (2023 £888 deficit). To remain a viable enterprise, to maintain our operations at their existing levels and achieve our objectives for 2025 we need to continue to act to seek new forms of incorlle and continue our fundraising efforts. {Schedule 1) Investment Powers and Policy Under the Constitution. the charity has the power to invest in any way the trustees wish. However, the trustees have adopted a policy which is risk averse, but seeks to maximise investment return whilst retaining liquidity. Our existing bankers. CAF Bank. provide an instsnt access current account, a gold account. We also have a fixed term deposit account wilh Shawbrook Bank. Given the deficit for the year ended 31 December 2024 has decreased our reserves the trustees consider that the fundraising initiatives need to be continued during 2025. Due to rising costs for de-installation Work it is importaT)t that a revised Reserves Policy setting out Designated Reserrfes for fixed contractual oblig8tion5 is reconstituted. Recont moves and refurbishments by other similar HDOT centres will be used to provide more accuracy for the required figures to be 'designated'. This work will be completed in 2025 Risk Assessment The trustees have reviewed any potential major risks and have set up systems and procedures to manage those risks. However our expenditure on services to members exceeds the fees and donations we receive towards the cost of treatment and we are therefore exposed to a financial risk if this deficit cannot be covered by additional income generated. Fee increases were advertised in November 2024 stating Ihat these would begin from January 2025- the new values will be checked throughout the coming year and used as a benchmark each year. Trustees Responsibilities in relation to the Financial Statements The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities ITr England and Wales. the Charities Act 2011. Charity (Accounts and Reports) Regulatr'ons 2008 and the provisions of the trust deed requires the trustees to prepare financial staternents for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees ale required to.. select suilable accounting policies and Ihen apply them consistently: observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent" 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 charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the applicable Charities (Accounts and Reports) Regulations, and Ihe provisions of the trust deed. 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. Accountants The directors and trustees would like to Ihank Champ Consultants Ltd for their services and retsin Ihem for the year ended 31 December 2025. By order of the Direciors and Trustees: Paul Dunn Director and C air f Trustees Swanley Therapy Centre (S.U.M.S) statement of Financial Activities (including income and expenditure account) year ending 31 December 2024 Note Funds 2024 Funds 2023 Incoming r•sources Incoming resources from generated funds: Voluntary income.. Grant5. donations and membership fees £82.383 £81,511 Activities for generating funds 7.801 6.531 Investrnent income 548 439 Incoming resourc8s from charitable activities: Conlributian for treatment £90.732 £88,481 5,035 3,547 Schedule 3 Total Incoming resources Resources expended £95.767 £92.028 Cost of generating funds and voluntary incomé £1.555 £1.614 Schedule 5 Charitable acliviti•s 93.136 89,318 Governance costs 2,133 1,984 Total resources expended £96,824 £92.916 Nel movement of fun(ts in year £(1,057) £(888} The statement of financial activilies includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing aclivities. Swanley Therapy Cantre (S.U.M.S) Statement of Net Assets as at 31 December 2024 Notes 2024 2023 Current Assets Bank balance Petty Cash 10 £60,914 78 £64.513 85 £60.992 £64,598 Current liabilities Deferred income Accrued expenses £500 900 £2.750 1,200 Schedule 4 Schedule 7 £1,400 £3,950 Net assets £59.592 £60,648 Analysed." Unrestricted Designated Reserves (£50k)," General Unrestricted Reserves (£9, 592). These sums represent the structure of reserves for 2024. NB." The Charity has reviewed its obligations and has now restructured its Reserves Policy and itemised Éhe categories. The policy was approved by the Trustees 10th July 2025. The Charity will seek project funding and hold this as a Restricted Reserve conforming to donor or grant provider intent. Other income reserves will be held as Unrestricted Designated Reserves or Unr8Stricted General Reserves. The Designated reseryes have been Galculated as a ￿qUirement placed upon the charity through contractual obligations or legislative compliance {e.g. staff payments in inclement circumstances). For the year ending 31sI December 2024 the company was entitled to exemption from 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 Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts were approved by the Board of Directors and Trustees and signed on their behalf on.. Paul Dunn Director and C Dated: air ees 10 Swanley Therapy Centre {S.U.M.S) Accountsnt5' Report The directors and trustees a￿ responsible for keeping proper accounting records. In accordance with instructions given to us, we have prepared the accounts on pages 9-10 and the notes thereto on page 12-16 for the year ended 31 De￿rnber 2024 from the books and records of the Company on the basis of information and explanations supplied to us. We have not carried out an audit in accordance with Auditing Standards. Accordingly we do not express an opinion of any sort on the accounts. Champ Consultants Ltd 34 Croydon Road Caterham Surrey CR3 6QB Notes on the accounts 1. Accounting Policies a) Basis of Preparation The financial ststements have been prepared under the historic cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities, Ststernent of Recommended Practice: Accounting and Reporting by Charities applicable to charities preparing their aGcounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)). the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The Financial Statements are prepared in Sterling. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. Reconciliation wilh previous Generally Accepted Accounting Practice In preparing the accounts. the trustees have considered whether in applying the accounting policies required by FS102 and the Charities SORP FRS 102 the restatemenl of comparative items may be required and concluded that no restatements were required. The transition date was 1 April 2015. b) Incoming Resources Voluntary income which includes donations and grants from charitable badies, and income from charitable acts'vitses are recognised where there is enlitlement. certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when: The donor specffjies that the grant or donation must only be used in fvture accounting periods. or relates to future accounting periods or The donor has imposed conditions, which must be met before the charity has unconditional entrj'tlement. Fees are charged to non-members for treatment, members contribute towards the cost of treatment by way of a donation and this is included in voluntary income. c) Investment income is reGognised on a received basis. d) Volunteers and Donated Services and Facilities The value of ge￿iceS provided by volunteers is not incorporated into these financial statements. Further detsils of the contribution made by volunteers can be found in the trustees annual report. e) Resources Expended Expenditure is recogni5ed when a liability is incurred. Costs of generating funds are those costs incurred in attracting voluntary income. and those incurred in fundraising activities. Charitable activities include expenditure associated with the provision of therapeutic and advice services to people suffering from multiple sclerosis and associated neurological conditions. Govemance costs includ6 those incurred in the govemance of the charity and Its assets and are primarily associated with constitutional statutory and regulatory requirements. Support costs indude central functions. These have been allocated to charitable activities. VAT All resources expended ale classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. g) Lease The organisalion leases its premises. on a 5 y8ar lease commencing 14 March 2023. We have the righl to terminate the lease on 14 March each year subject to giving 6 months notice. Rental costs are charged evenly over the period of the lease. h) Funds Structure (see above re Designated) The organisation has a restricted income fund lo account for a situation where a donor requires that a grant or donation must be spent on a particular purpose or where funds have been raised for a specific purpose. 13 The purpose of the organisation STC, is to provide Oxygen Therapy. along with other supportive serrfl￿S. and the Oxygen Therapy requires a purpose-built facility positioned in a safe industrial estate. The chamber and supporting equipment for the Oxygen Servi￿ is permitted in the facilities with contractual obligations that. should the STC Charity ever wish to move from the industrial estate it must remove all equipment. dispose of it if appropriate (e.g. upon closure of the charity or repIa￿rnent) and reset the Industrial unit to its original state. This contractual agreement with the landlord thereby Makes an obligation of funds that cannot be otherwise excused and carries an estimated cost of £50.000' this is based upon general estimates and awareness of other similar sites involved recently in re-siting. For this reason. the Trustees have taken the view that it would be prudent to earmark funds of £50,000 and move these funds to a restricted account so that the charity STC is always able to meet its obligations. The Trustees will continue to review the cost and resale value of equipment in a changing market (for Oxygen Therapy equipment) and to revise this new restricted account annually. All other funds are unrestricted income funds. i) Pensions." Automatic Enrolment With effect from 1 July 2016 all staff were given the opportunity of automatically enrolling into a Pension Scheme provided by NEST. Legal Status of the Organisation The Organisation is a Company Limited by Guarantee and a registered charity. The liability of each member in the event of winding up is limited to £1. Financlal Activlties of the Charity Analysis of voluntary income 2024 2023 One-off grants received Donations and membership fees £2.250 80,133 £750 80,761 Schedule 3 £82,383 £81,511 14 Analysis of incomg from charitable activities 2024 2023 Fees for treatment £5.035 £3.547 Schedule 3 Investment InGome All of the organisation's investment income arises from its bank accounts. Analysis of resources expended Cost of generating funds represents costs incurred in raising voluntary income. Charitable activities 2024 2023 Cost of provision of advice and treatrnent and expenditure on improved facilities £93.136 £89,318 Schedule S Analysis of Charitable Expenditure Oxygen Repairs and maintenan Wages etc. Support costs Other expenses £6,848 14.030 39.485 Schedules 6&7 28.124 4.649 £93.136 The organisation undertakes direct charitable activities only and does not make grant payments. Analysis of Support for Charitable Activities This table shows the cost of the charitable activities and Ihe sources of revenue to directly support those activities. Total Charitable expenditure Fees for treatment Contributions towards cost of treatment by way of donation £93.136 {5,035) (82.383) Deficit to be funded from other sources £5,718 16 Analysis of Staff Costs borne by the Charity Salaries including Social Security costs £39.485 £37.135 Schedules 6&7 Staff Numbers The average number of full-time equivalent employees (induding part time staff) during the year was 2 {2023 - 2). Taxation The Company is a registered charity and no provision is considered neTrssary for taxation. Deferred Income Being grants received in year ended 31 December 2024Fela . expenditure or activities to be undertaken in the year ended 31 December 2025 - £nil (2023 - £2.250) and income from activities for generating funds that took Pla￿ in 2024 applicable to 2025 - £500 (2023 - £500). (Schedule 4) 10. Bank Balance Funds are held on bank current and deposit accounts. 11. Lease Cost of lease of premises £19.000 per annum (landlord then makes charitable donation of £4.000). SUMSISwanley Therapy Centre: Reserves Policy The SUMSISwanley Therapy Centre reserves policy was reviewed and th updated June 2025: and accepted at a Trustee Meeting 10 July 2025. What are reserves7 Reserves are the funds that are held by a charity and available to spend on its purposes. DonorlFunder's often look at the amount of reserves (or "free reserves") a charity holds to help decide whether to fund them. Local authorities will also ask about reserves to decide whether to allow any discretionary rates relief. What to consider? The starting point for calculating the reserves held by a charity is the amount of unrestricted funds. However. not all of the unrestricted funds of a charity may be available for unrestricted spending. SUMSISTC has identified the following requiring designated reserve status: 1. The charity has responsibility for a building and should hold reserves to meet the costs for repairs or withdrawal and closure of the site as per contractual obligations 2. The charity employs staff, and shall hold funds to cover their notice period and any redundancy they may be entitled to in the case of closure (forced or otherwise) of the charity The intended Reserves Managemont Item 1." The charity has a contractual obligation upon exiting the current premises, to remove all item5 and restore the property to an ernpty shell business facility. SUMS has invested over 40 years in structural changes and partly these were necessary to allow for a HBOT (Oxygen) Chamber to be placed within the building premises. The chambers are heavy iron units that allow 8 persons to occupy it seated on coach-type seats. The Charity therefore has oxygen tanks and other ancillary items that facilitate provision of HBOT treatments. The removal of the oxygen tanks also carries a cost for demobilization and removal. The charity has previously estimated the cost of replacing or removing equipment and. if the case, exiting the premises. We have recently reached out to similar Charity HBOT ￿ntreS and the maintenance company, to apprise itself of current values. We believe that there remains a value the chamber, compiessors and other equipment but much of this would be lost in the act of removing and disposing of Ihe items (circa £20k). There then remains the cost of propety reinstatement and the removal of the British Oxygen Corp (BOC) tanks and related itoms. The clearance of an adjoining facility was recently cleared and overall cost value of £20k was needed: a similar site had BOC quote £25k for removal of its leased tanks. 18 Item 1 valuation- We have assumed that costs in this area will continue to rise and that currently total disposal and clearance would require a 'designated' reserve of £50k. Item 2.- The trustees have set a level equivalent to 3 months of operating costs for the organisation as a desired level of reserve. This fund is a contingency in the event of a sudden reduction in income, in order to protect the fvture operation of the organisation from the effects of any unforeseen variations in its income and expendilure (notable the impact of COVID in 2020121). The trustees have assigned reserves where there are planned commitments that cannot be met by anticipated future income alone. We have been undergoing a monthly profile of incomelcost by the work of the new 2024 Charity Treasurer. This indicates currently a cost of £4.5 per month for obligated costs and staff redundancy payments in the event. Item 2 valuation." For item 2 costs we propose a designated reserve of £13.5k. 19 Unrestricled Funds Desired Reserves Balance as at 30° June 2025 Description General purpose reserve fund £20k £14k Unrestricted Réserve Funds to provide cash flow and meet short term unforeseen ex enses Restricted Reserve Funds received on the basis of strictly dedicated purpose as stipulated by the donor. Cuffently we are applying for a project to replace the chafnber seats June 2025 . Desi nated Resè clearan￿ of the building and disposal of all Charity ui ment. Development Projects £8k Premises Exlt Reserve £50k £50k Redundancy Reserve £10k £8k Reserve Payment of staff costs including redundanc Desl Reserve Payment of all fvrther contracts to close Utilities and other contractual Reserve £3.5k £3.5k Total £91.5k £75.5k The trustees will wish to review the above costs early in 2026 as the resell value and charges are all expected to change now that HBOT has become more popular with recent medical & sporting support for oxygen therapy. We are unsure how this will affect ￿sell valuations and higher demand.