The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
The West of England M S Therapy Centre Ltd UNAUDITED FINANCIAL STATEMENTS Year-End 31 December 2023
The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
Contents
Contents .................................................................................................................................................. 0 Officers and Professional Advisers .......................................................................................................... 1 Trustees Report ....................................................................................................................................... 2 Report from the Trustees........................................................................................................................ 3 Report to the Board of Trustees ............................................................................................................. 5 Income statement Year End 31 December 2023 .................................................................................... 6 Statement of Financial Position 31 December 2023 .............................................................................. 7 Trustees Responsibilities ......................................................................................................................... 8 Notes to the Financial Statements Year ................................................................................................. 9
The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
Officers and Professional Advisers
Year ended 31 December 2023
Trustees
Mr Geoffrey Mayell– Chairman Mr Steve Cocks Mrs Caroline Blake-Symes Mr Mark Whitehouse Mr Roger Forbes Mr Charles Edis Mr David Grant
Company Secretary/Registered office
Mr Charles Edis Bradbury House Clinic Wheatfield Drive Bradley Stoke Bristol South Gloucestershire BS32 9DB United Kingdom
Accountant
David Seabright Co Ltd Adam Kelly B.A. (Hons) F.C.C.A Barley Wood Stables Long Lane Wrington Bristol BS40 5SA United Kingdom
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The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
Trustees Report
Report from the Chair of Trustees
2023 has been a year of challenges, yet much has been achieved as we continue to seek to futureproof the Centre for the years to come. In many respects, it has been a very significant year for us, and I am extremely excited and very optimistic about 2024.
2023 proved to be a year of opportunity, staff stretch meant that we could not be as ambitious as we would have chosen to be, but it has given us a window to review many aspects of the Centre’s operation and critically analyse how we prepare for the future.
During this time of stretch, our existing services have continued unabated. Our hyperbaric oxygen therapy team, our physiotherapy team and our reception and facilities members have all stepped up to the challenge. The Centre has been able to sustain and grow our services. We continue to introduce and offer a wide range of complementary therapies. A much-reduced fundraising team has achieved some remarkable success and in terms of facilities, several key initiatives have reduced our costs and sought to leverage some excellent incremental income through room hire.
We have put continued focus on our social media reach by improving our website and our IT capability. Many of our staff, volunteers and Trustees have continued to build and strengthen relationships with our many supporters both financially and socially.
The last quarter of 2023 was an extremely busy time for the Centre, as we sought to implement many of the changes that were needed to improve the overall offer. This ranged from support for fundraising, admin stretch, cost optimisation and quantifying exactly what our members wanted from our café and how best to operate the facility for the benefit of everyone.
The immediate years ahead will continue to pose challenges for charities, given the pressure upon funding across the sector. This combined with increasing costs in all areas will exacerbate the situation. It is therefore vital that we recognise this ever-changing environment and place ourselves in the best possible position to meet these challenges and take the necessary steps for us to both grow and maintain sustainability.
The most important asset the Centre has is its people, both staff and volunteers. Several new staff members have recently joined the Brightwell team. Every appointment represents our need to meet those challenges, we have taken the opportunity to strengthen our admin team with the appointment of a Centre Administrator, we have two additional team members supporting our fantastic fundraising team and we have appointed a Café Coordinator.
As the year progresses we will continue to look at how we can make improvements, whether that be to review all of our supplier contracts, ensuring we deliver the very best value for money for our members, developing the café offering to its maximum potential, taking every opportunity to develop additional therapy offerings, looking at ways to maximise the operation of our hyperbaric oxygen therapy and physiotherapy departments so that we meet the ongoing needs of all of our service users.
Finally, and significantly, I would like to acknowledge the huge contribution that all our volunteers make to this wonderful charity, we simply could not operate without them.
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The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
Report from the Trustees
As stated in the Chairman’s report the Charity continues to grow despite the many challenges that it faces.
The overall results show a small loss of £1,939.
The Charity has endeavoured to fully optimise the use of its financial resources to achieve its charitable aims by assisting and supporting local people with debilitating neurological conditions.
There have been a number of challenges in operating and maintaining the premises, as the building is now over 10 years old. Some equipment therefore requires refurbishment or replacement. A simple example would be the gas boiler for hot water and underfloor heating at a cost of £8K in April 2023. The new boiler is however more efficient and less expensive to operate.
The Cost-of-Living crisis coupled with higher inflation has meant that many costs are on the increase, over which we have very little control.
The Trustees, in tandem with the management team are working very hard to ensure that every effort is made to ensure the overall environment that we operate in is as sustainable as possible.
The Trustees are pleased to report that a further investment has been made to achieve a green energy target. With considerable financial assistance from Solarsense, a leading local installer of Solar PV panels and batteries, the Charity had added a further 16kw of generation capacity to the roof of the building, making a total peak capacity of 46kw.
This, coupled with the installation of 3 Tesla batteries, means that the Charity will almost be selfsufficient in electricity production during the months of March to October. The installation also allows for cheaper night-time energy from the grid in the winter months, so that the batteries are fully charged for the start of the next day. This will help reduce the use of more expensive day-time energy.
The Charity has been protected from the hikes in general energy prices until 2025, but fully expects significant increases in energy costs in that year. The Solar investment will help to mitigate the anticipated increase in rates and help to futureproof the Charity.
The Charity has also fully equipped its Cafe with the required electrical appliances, with support from several donors.
The Cafe is now fully operational and we anticipate that our service users and local community will be able to take full advantage of this welcoming environment.
The fundraising team continues to work tirelessly to ensure that the Charity meets it’s overall aims.
Charitable reserves therefore remain stable.
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The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
Year End 31 December 2023
The Trustees present their report and the unaudited financial statements of the company for the year ended 31 December 2023.
Trustees
The Trustees who served the company during the year were as follows:
Mr Geoffrey Mayell (Chairman) Mr Mark Whitehouse Mr Roger Forbes Mr Charles Edis Mr Steve Cocks Mrs Caroline Blake-Symes Mr David Grant
Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.
This report was approved by the board of directors on 28[th] March 2024 and signed on behalf of the board by:
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The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
Report to the Board of Trustees
Report to the Board of Trustees on the preparation of the unaudited statutory financial statements of The West of England M S Therapy Centre Ltd (Limited by Guarantee) Charity Number 801155.
Year ended 31 December 2023
As described on the statement of financial position, the Board of Trustees of The West of England Multiple Sclerosis Therapy Centre Ltd (Limited by Guarantee) Charity Number 801155 are responsible for the preparation of the financial statements for the year ended 31 December 2023, which comprise the income statement, statement of financial position and related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instruction, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Adam Kelly B.A. (Hons) F.C.C.A.
Barley Wood Stables Long Lane Wrington Bristol BS40 5SA United Kingdom
Date:
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The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
Income statement Year End 31 December 2023
| Income and Donations Received Cost of Providing Therapies Gross Surplus Cost of Generating Income Governance Costs Operating Surplus Other interest receivable /Bank switch income Investments Movement Gain Other Income- Therapy/BNSC/Car Sale Surplus/(Loss) before tax Less tax/depreciation surplus/(loss) Surplus/(Loss) for the financial year |
2023 2022 £ £ 513,913 447,705 (393,241) (362,787) |
|---|---|
| 120,672 84,918 (139,663) (110,092) (2,014) (2,927) |
|
| (21,005) (28,101) 8,320 5,420 (2,873) (6,464) 29,047 47,704 13,489 18,559 (15,428) (15,428) |
|
| (1,939) 3,131 |
The company has no other recognised items of income or expense other than the results for the year as set out above.
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The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
Statement of Financial Position 31 December 2023
| Fixed Assests Note Tangible assets 5 Current Assets Debtors 6 Cash at bank and in hand M&G Charity Investments (Operating Reserves) Creditors: Amounts falling due within one year 7 Restricted Fund Net Current Assets Total Assets less Current Liabilities Capital and Reserves Surplus and loss account B/ Fwd Remaining Surplus and Loss for the Year Capital and Reserves C/ Fwd |
2023 2022 £ £ 151,287 166,715 5,466 6,319 82,928 106,193 119,406 122,278 |
|---|---|
| 207,800 234,790 (11,228) (17,853) (33,325) (67,179) |
|
| 163,247 149,758 |
|
| 314,534 316,473 |
|
| 316,473 313,342 (1,939) 3,131 |
|
| 314,534 316,473 314,534 316,473 |
For the year ending 31 December 2023, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
Trustees Responsibilities
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
-
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with FRS 102, ’The Financial Reporting Standard applicable in the UK and Republic of Ireland. These financial statements were approved by the board of trustees and authorised for issue on 28[th] March 2024 and are signed on behalf of the board by:
Company registration Number: 02312916
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The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
Notes to the Financial Statements Year
Ended 31 December 2023
1 General Information
The company is a private company limited by Guarantee and is also a Charity No 801155 registered in England and Wales. The address of the registered office is Bradbury House Clinic, Wheatfield Drive, Bradley Stoke, Bristol, South Gloucestershire, BS32 9DB, United Kingdom.
2 Statement of Compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, ’The Financial Reporting Standard applicable to the UK and Republic of Ireland’.
3 Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The financial statements are prepared in sterling, which is the functional currency of the company.
Income from Contributions and Donations
The Charity relies on its business continuity by the receipt of income by way of donations, member and community contributions as well as the support of many Charitable Trusts. The Trading Arm of the Charity uses the resources of the parent Charity to treat and provide therapies for non-neurological conditions and in return donates all fees received to the parent Charity.
Tangible Assets
Tangible assets are initially measured at cost and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
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The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings Straight line over 50 years Fixtures, fittings, and equipment 12 years at reducing costs.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
Defined Contribution Pension Plan
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4 Persons Employed
The average number of persons employed by the company during the year was 18 (2022: 15).
5 Tangible Assets
| Cost At 1 January 2023 Additions At 31 December 2023 Depreciation At 1 January 2023 Charge At 31 December 2023 Carrying amount At 31 December 2023 At 31 December 2022 6Debtors Debtors Prepayments |
Land and buildings Plant and machinery/ IT etc. Total £ £ £ 150,000 257,540 407,540 |
Land and buildings Plant and machinery/ IT etc. Total £ £ £ 150,000 257,540 407,540 |
|---|---|---|
| 150,000 257,540 407,540 |
||
| 33,000 207,825 240,825 3,000 12,428 15,428 |
||
| 36,000 223,253 256,253 |
||
| 114,000 34,287 148,287 |
||
| 117,000 49,715 166,715 |
||
| 2023 2022 £ £ 3,632 4,176 1,834 2,143 |
||
| 5,466 6,319 |
||
| 7Creditors: Amounts falling due within one year Taxation and Social Security Pre-payments Accruals Other Creditors |
2023 2022 £ £ 7,792 7,627 718 3,436 9,508 |
|
| 11,228 17,853 |
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The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
Detailed Income Statement
| 8 Incoming Resources Member Contributions Community Fundraising Legacies Trusts/Corporate Trading Company Subscriptions Job Retention Scheme Claims Gift Aid Interest Received Investments Valuation Gain / (Loss) Therapy Supported Income BNSC Donation to Oxygen Generation Sale of Assets Brightwell Cafe Total Incoming Resources Less Cost of Providing Therapies Therapy Salaries and Costs Supporting Therapies Therapy Employers NI Therapy Employers Pension Contributions Rates Heat and Light Printing, Postage, Stationery Therapy Telephones Therapy IT Support Costs Insurance Premises Cleaning PPE Bank Charges Café /Oxygen Construction Costs Café Expenditure Equipment Repairs & Maintenance Total cost of Providing Therapies Net resources available for charitable expenditure |
2023 2022 £ £ 169,337 140,708 65,669 53,309 28,683 4,101 165,185 185,362 67,405 53,681 9,458 8,258 7,108 2,286 8,320 5,420 (2,873) (6,464) 28,546 22,004 19,000 500 6,700 1,069 548,407 494,365 161,334 141,342 67,016 58,875 14,048 11,017 4,407 3,562 11,774 9,974 12,318 9,521 1,931 1,418 2,636 1,542 6,331 3,776 7,256 4.406 14,142 10,322 294 819 1,441 1,152 1,041 96,829 979 86,293 8,232 393,241 362,787 |
|---|---|
| 155,166 131,578 |
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The West of England M S Therapy Centre Ltd (Limited by Guarantee) Company Registration Number: 02312916 Charity Number: 801155
| Costs of Generating Income Fundraising Salaries and Costs Salaries - Admin Employers NI Employers Pension Contributions Printing, Postage, Stationery Telephones IT Support Costs Total costs of Generating Income Net incoming/outgoing resources for the year Governance costs Volunteer Support DBS Fees Training Legal and Professional Fees Subscriptions to MSNTC and HBOTT Total Governance costs Net incoming/outgoing resources for the year Less: Tax and Depreciation for the year Net incoming/outgoing resources for the year |
2023 2022 £ £ 73,572 63,165 51,100 36,612 7,221 5,186 2,321 1,762 966 708 1318 771 3,165 1,888 139,663 110,092 15,503 21,486 808 612 421 470 30 630 204 542 551 673 2,014 2,927 13,489 18,559 (15,428) (15,428) |
|---|---|
| (1,939) 3,131 |
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