Comp4ny reo151vaii0 Mber.. 02270804 Chariiy IegisiT41ion Trumber.. 900083 Multiple Sclerosis Therapy Centre South West Limited IA compathy limiltd by 8uar•Dieel A Thnual Rtport and Financial Siaitmtnis for Ihe Y¢ar Ended 31 March 2021 *UK21L21¢ Thompson Jenn¢i LLP Chatted AcLonIan1s I Coll¢ioii Cr¢sc¢ni Extier D¢von A27 2411212Q21 COMPANIES Hj$E
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Multiple S¢l¢rosis Therapy CeDtrt Souib West Limited Contents ReftreTrLt and Admini51raii*c Dtiails Try$t¢ts' Rrport ? 10 5 5iaiemeni ofTrusiee5' Re5ponsibiliiies Independeni Examinefs Report Siaiem¢Tri of Financtal AciiY¢iKs 8109 Balance Sheei Noivs tD Ihc Finanri41 Statcm¢nts 1210 27
Multiple Sclerosis Therapy Centre South West Limited Referenee and Administrative Details Clirm# R O Gibson Tru$tet$ ROGib50n K A Jamieson S J ReardoTr D Walie15 Ster¢t•ry M A Holfflts Principal orrict Wesi Gran¥ CI¥si Htaih E.Yri¢r Dtyon EX2 7EY The chariiy 15 incorporaied in Éngllnd & Wale5. 02270804 CompaAy ReEiStriirofv Numbtr Chriiy Rtgistraiio Numbtr 90008J Bankers CAF BaDk Lid 2) Kinfrs Hill Avtnue Wesi Mallino KtllE ME194JQ Br¢win Dolphtn Growp Ashltigh Court A5hkigh Wa). Langagt Business Park Plyrnovih PL7 5JX lftvesimeftt Advisors Imdeptndt#* Eiamintr 'I'homp50n Jenner LLP Chartered Ateouniants I Colleion Cr¢sctni E.¥erei Dtyo EX2 4DG
M uliiple Sclero5i5 Therapy Centre So¥th West Limited TTllSle¢5' Report The Irusices. who are di£10rS for Ihe puip05es of company lam.. prtstni iht annual rcport ioscihcT wirh the riancial 5tatemcTr15 of the chariiable company for the vtar Ended 31 March 2021. I. REFEREh4CE A .AD&IINISTR.A TIVE DETAILS 1.1 Ltgal Siruciurt Th¢ Company wa5 incoTporaied I England and Walt5 on 74 June 1988 aThd is limited bv 081¢te under CornpaThy numbtr O?270804. 11 is a rtoisiered Charily under number 900083. The Chxrily Jlso operaie5 uThder lh¢ name of thr Souih W¢si MS C¢ire. 1.2 .4ddrtSS Regi51¢r¢d orri¢e and beadqvamers.. Wesi Granoe. Clysi Heath. Exeitr. EX? 7EY. IJ Trustees and Ixtcutivt Commilt¢t Rory Gibson Ichairl (Appoinied 2 April 2019) GraTht IResi8ned l March 20211 Darren Herd IR¢5igned 4 January 20211 Mike Holmts IRtsigncd 20 Augus1 20201 Karen Ja150 IAppoini¢d I l 20201 Anneiit Lloyd Irtsièned 28 July 20211 Stephen Reardon (Appoinird 13 March 20201 Davr¢n Waliers IAppoinied 25 Ociober 20151 MiLe Holmes Company Stcrtiary IAppoinitd 20 Auguy 20201 Key Manag¢m¢t P¢T59nn¢l in¢lvd¢ Hll TnL51¢¢5 1Trd thc C¢nirc M•Trtgcr. 1.4 Pro(tssionil Advisors lThdtp¢ndcni Exarnincr5: Thornp5on JenTrcr LLP, I Colleion Cresceni, Extltp. EX2 4DG Banktis.. CAF Bank Lid. 2) KI¥$ Hill Avtnue. Kings Hill, Wtsl Mallin&. KeTri. ME19 4JQ lThvt51nieThl Advisors.. BWin Dolphin Group. Ashltigh Cown, Ashleioh Way. Lingagt Busittess Park": Plymouth. PL7 iJX 1Tr5urance 8rokcr5.' WRS In5urnn£e Brol¢is Lid, CadmaTr Ho$¢. otTPeaftrteRoad: ColchesieT, C03 ONW Z. STRUCTURE. GOVERI4ANCE.4IYD MANAGEalENT 2.1 GoveriMtt Th¢ Chariiy'5 goyerning do¢urn¢ni i5 I15 mEmorandurn and anicles of a5$0¢i10n. The key people the Ofganisaiion I". . Tht Members P•gt 2
Multiple Sclerosi5 Therapy Ctntre South We51 Limited Trustees. Reporl Th¢ E.Keculivc Comtnillcc ITrusitC5 in Law) Th¢ CeEre'S Sthff, incldIng ¥oltsnrttr5 MernbYr$hip of ihe Ce1[¢ is oprn 10 indiyiduals wish 10 use rhe facililie5 of Iht Cenirc. or thho ivi5h 10 luriher Ihe obieLlS of Ihe C¢Nire. Each rncrnberf5 liability is limiied M'inding up io an noi ¢k¢¢edJng £1.00. M¢Dib¢rs in addiiion pav an aUl1 mefflbetship rte. The IT51¢¢$ ar¢ all membets, and will be appoinitd foi a 3 year ierm and Ihev caTr stryt a maxnnum of3 ierms. Ea¢h year. a Ihird of Ihe dirttior5 will rtsign. The E.%eculiYe Commiit has ioial iesponsibiliry foi irnplem¢Diin4J the aiTh>s and objectives of th¢ Centre Ihrough the d¢Y¢lopffleni of JppropriaT¢ polici¢s and straiegies. Regular c(pmmiiiee meetings are held ai least bi-mTrThthly Ihroughoul ihe vtar 10 moniior and rtview ihe work of Ihe Ctnire. The numbti 0fMembe as ai 31 March 2021 wa5 250. 2.2 TrSlee Ind¥tiion aod Tr$iNiAg The Sttrtiavy is resp0ts5iblt for en5uriTh• Ihai nti¥ Trusiee5 are familiar15ed iih Ihe res0r¢in and finamccs of the Chariiy and iyiih iheir dwtics as Tru5tECS by disiribuiion of ihe Chariiy cornrnissio.S appropriate guides as to ihe duties and iesponsibililies ofch8rily Trn51tes. 2.3 Risk As5essmtni The Tru$i¢ts haye undertaken a rioorous asst55meni of Ihe major risk5 10 'hICh Ihe Ctnirt 15 exposed usin g¥idelines developed by the Ch3riry Commi55ion. KCY area5 have been ideoiified and the plaTr produced is reviewed eaLh year. The oeLe55ary a¢iioTh thai ineeds to be iaken 10 rnitigate risks is id¢niifÈ¢d, pui in hand and Monitod. Pfice risk is loiv due ro ihe 5ervice5 proyidcd Trol bciTro availablc in Ihc local aTca. Cicdil, li4uidilY and ca5b tlow ri5k5 ale a150 Considered io bc low as there are no borrow185 and 5ffIcIen1 liquid funds availablc lo supptsrt activities for a number of ytaTS. Financial rtstrve5 ha¥t been tsiabli5hed 10 th5re iht coniinued optrali0 of Ihe C¢Ire during iemporary 5honfwll of Income and also to deal with the necessary fllllding of repaits io Ihe bllildinr* ai Wesi Grange. which is a Grnde 11 Lisied buildinr• owned by Iht Ctniff. 3. OBJECTIVES AND ACTIVITIES 3.1 Objective Thr objcct row which the Ctnirt was tsiablishtd was and Is 10 aid and Improve Iht condilion of those diaonoged wilh Muliiple S¥lrru5i¥. Ihe area ofoperalion being rh¢ Sourh Wc51 of England whi¢h in pra¢tic¢ rxirnd5 from mid Som¢rs¢l and West Dorset down 10 Easi Cornwall. 3.2 Public BeThtfit Tht Trusites arc saiisfied thai Iht Charily's 51aied objecii¥e fa115 wiihin Ihe caieoorv "advancemeni of health. hich is sei oui ihe Chariiic5 Acr 2011. Th¢ Charity meeis Ihi5 0bj¢¢iiv¢ ihr0gh rh¢ proyision tsf o.Yyg¢n Ihrizpy. PTlll¢Lpally 10 p¢opl¢ wiih m11]ple Scler05is bul a150 to oihcr fftembtts ofihe publit who 5etk 10 obtain btntfil (rom sueh Ifeaimeni. The Trusie¢s have complied with Ihe Chariiit5 Aci 2011 and ihtir duly 10 -havt rtg8fd- 10 public benefii ouidan¢e piovidtd bv Ihe Chariiy ComrnissioTr whcn tx¢rc151Tr8 POWtr5 or 11¢5 10 which Ihe guidance is Page 3
M ultiple Sclerosis Therapy Centre South West LI iled Trustees. Reporl 3.3 Prin¢ipil .4tlivilv The main aritviiy ol- Ihe Chariiv coniinut5 10 be Ihe proyision ol o%ygeTr Iherapy iotieihtr '1(h phl'sioiherap!.. Oiher Iherapies are also provided ai Wesi Grantse io enablE an e.¥lcnded ran4e of 5erYi¢es 10 be rn3de available tor thE benefit ol mernbers. Aside from Iht proY15ioD of oxyoen Iherapy. Ihe Ihtrapies proYidEd are by indtptndcni providers and noi direcilv by the Charit).. 3.4 Siaff Tht Board grEaily v31ue and appreci3te the enihv5ia5m an(J rommrnmcni of all Ihe Ctnire siafl and Ihe ra11$t1C Yoluniters durino a di1[ year wilh Iht Covid- 19 Pwdemic. 3.> Therapists Thtrapisis during the ytar. Tai Chi Insiruciors Tom Collinsridge and Helen Killgdo Rathel DcTrne Physioiherapisl & Exertise Class Leader eflexology & Massag¢ TheTapi51 Counsellor & Massage Therapisi Louise Htaih Kairina Mil¥enon Anneiie Nuiiall Chitopodisi Yoga Insirn¢ior Physiolberapisi & Exercisc Class Lcadcr Rcbecca Pen Carolt Shaw Micharl TrayIr 3.6 BlIdIng Use Ally room5 llQt required foi Ihe CeThire'5 own operaiion hirtd or leased out iyhert POS5ible. in Ofd¢r I provide ma.¥imum ust of Ihc facililics aTrd in ordcr ttr obtain coTririburion5 loward5 ihe running cos15 of Ihe DrIng the y¢ar. Th¢ Consultancy occup Ihe lop floor of Ile main blIdng a5 ienanis. McTimonEy ChiTopracior5 It&sed (he rear and froni room5 01 Ihe Coach HO$t for rheiT pracrice. 4. FINANI CIAL REVIEIV The CefjiT¢ is dependeni on a hioh Itvtl or rundrnisinl and is particularly gTaieful for all th¢ fun(Jraisino aciivilies carried out to raise (unds ind io ¢v¢ryoTrc WM) organi5¢$ such aciiviii¢s. Th¢ sU11 for Iht year, btfort inYe51mtthi movemcfftis. was a dcfitii of£12.372 {2020.- dtficit £52.3931. Tot81 i£ome for the y¢iT was £170.084. which 15 in 1Crease from lusi year'5 figure of E140.762. Toial expenses ¢xLlvding inYe51mtni movemenis havt dtcrtastd by £10,699 fTom £193.155 lo f182.456. The ¢hariiy's ¢051 b35¢ ha5 be¢n 51abl¢ 3nd in line wilh bwdgel. There has been a gain on in¥esimtnis of£87.612 12020-. loss of £39:081). These res115 show an overnll surplus for Ihe year of£75.?40 1?020-. deficit of£91,4741. Untesiri¢red fuTrd5 have incrtased by £74.740 10 £1.086.i l i, *hilsi rtsiritied funds have increased by £500. Page 4
Multiple Srlero$is Therapy Centre South West Lirn ited Trustees. Report Rt5ervts Policy The Chari1> 5 fre¢ reserve5 aic £463:i44. Th¢se arc iht nei 05Stis of ufjresir¢citd funds and uodrsionaied funds e¥cluding lan8iblt fixtd asstrs. The iarDei Ic¥el or rTee 5¢¢5 is 6 MoniTh5' eipeDdiiur¢. ii'hi£h 15 E91,228. Fret restr¥t5 in txce55 ofihe res¢rye5 policv b!. EJ7?.316. £429.433 of Iht Chariiy s f¢ Ics¢rYe5 have been placed in invtsimtni portfolio manatied by Breiyin Dolphi 5. FUTtiRE PLAINS The Chawily will eoniinut 10 dellvei Ihe seivice5 identificd abov¢. In pani¢ular. we will-. Work wilh Ihe Chi¢f E.Y¢cuiiYc io mainiain sevit¢es durin& ihe pandtmie 8Dd 10 address Ihe cosuincorne hallen8e. Pul an even oreaier focus on our fundraising mirkciing diiY¢. D¢v¢lop the range of rherdpic5 thai brnrfii iht membtts. Monitor tht ma11tnan£e and upkeep of Ihc buildina w ¢n5ur¢ li r¢maiTrs tn a statc of good Kpair. Raise awareness of lh¢ CeniTC. wiihub ih¢ carchmcni area. 10 increase ihe mernbetship. pamicularly in Tegard 10 ptople with MS. Work 10 ¢siablish close working lJi10$ with the Muliiple Stltrosis Sotieiy which wsll ensure Ihe maiimum benefil for ofptoplt wilh MS. Coniinue 10 en5ur¢ Ihat the Centre is managed tl¢leIlY and ihai all needs of Iht membcrs ale fvlly iaken inio accouni and provided for so far as 15 financially p955ible. Small comp4nie5 provi5jOII 5t*teMeii This report has becn prepartd in atcordancc with Iht small eofflpanics reoirne under Ihc Comp?1¢5 ACT 2006. aThnual repom was approved by lh¢ irnsiee5 of ihe ch3riiy on and signed ils bthalf by.. OTh Trugte Page 5
Multiple SclerDsis Therapy Centre South West Lim ited Staternen¢ of Trus¢¢e5' Re5pon5ibilities Th¢ Irusices Iwho ar¢ also Ihe di1¢cio of Muliipl¢ Sclerosis Therapy Ctnrrt SoDTh Wesi Limiied for ihe purp05vs of Lonipan! lawl dre responsible for preparino ihe irus1¢¢5' report and (he finailiial siaitmtnis in aciordanit iyiih Ihc UniiLd Kitidum At¢ouThrithr• 5iandards ivniltd Kingdom Generally A¢¥epiEd Acrouniin ConTpanv laiy requirES thr IFU5IEes iv pr¢pate financial 514i¢rn¢nis for ¢ach finaocial Ycai. Under compaTry law Ihe Iru51e¢s mu51 noi approve tht financial siaiemtnis unless ihey are saiisfied ihal ihey oiv¢ a Irue and fatr Yieiv of ih¢ slai¢ of affairs of ihe rhaviiable company and of it5 iDCOrning reSOtc¢S and applicaiH)fj of rtsourLts. includinfr 115 icome and txptndiiure. for Ihai ptriod. In preparing ihese financial SlaiemeJblS, lh¢ Iru5t¢¢5 2r¢ rtquired io-. 5¢1eci 5uiiablr arrouniing policies and apply ih¢m consi51enily' ob5trve Ihc ffleihod5 3Trd principlc5 ifi the ChariEie5 SORP; mak-e judg¢m¢nts and estimates thai are r¢a50n•ble prudeni: siale wherher applicable UK AccouTrtino StJThdard5 have b¢¢n follow¢d. 5ubieci 10 any maierial departre$ disclosed and e.¥plained in Iht finanLial siaicmeThis- and prepare Iht finacIal sioitmeDIs OTr the •oints coTrctm basis unless il 15 inappTopriaie to PTesume thai ¢b¢ chariiablt company will ctsniinlle in business_ The Irusitcs art rtsponsiblt for kctping ad¢qure octovniithg reeords Ihai are $Dl¢lellI 10 show and eAplain Ihe tharifable COrnpaY'5 tr3nsac(ios di5¢105e 4vith reasonable a¢cura¢Y ai dny lime Ihe financial posiiion ofihe charitabl¢ ¢ompaTrs' enable them 10 ¢ffj5ure ihat the financial siaiemtD15 compl ii11lh the Compatsies Acl 2006. Thty are also fesponsible for 58fcguarding Iht asstis of Iht chariiable company and heCe for iaking reasonablc STCPS for th¢ prcvEniion and detecrion of ftaud ad oihtr itrtgulariiics_ rtsvtd by rhe irusiees ofrhc charitv on and 5i8ned on it5 behallby: don Page 6
M yliiple S¢ltro$i5 Tlterapy CeDtr¢ South West Limited Indtpendenl Ex#miner's Rtpori io ihe trystees of Mulliple S¢ltTO$iS Therapy Centre South Wes1 Lirn it¢d repoTI 10 Ihc chariiy iillsie¢5 on my r.¥aminatioR of th¢ a¢¢ounlS of Ihe charity for iht year ended 31 March 2021 which art Sei oul on paots 8 10 27. R¢5pectkv¢ r¢5poTh$ibililit5 of tr¥stts nd tA#miitr As Ihe chaisiv s Irusi¢e5 of Multipl¢ S¢ler9515 Th¢rapy C¢nir¢ Souih Wesi Lirniied <ad also lis dirtcrots for ihe purposcs of comparly lawl you art itsponsible for Iht prtparalion of the accoumis in aicordance wtih Ihe rtquiremtn15 of ihe Companie5 Aci 2006 1-Ihe 2006 Aci-i. HavIg satisfied m}'seif Thai Ihe accounis of MlipIt Scler05is Therap¥ Cenire Souih Wesi Limiied are noi required 10 be aodiied under Pan 16 of th¢ 2006 Aci and arc eliuiblc for independeni ¢¥3m1ffl31ion. I repon i rr5peci of eiaminaiion of your thariiv s accollnis as eairitd oul under 5eciior* 14) of the Chariiie5 Aci 2011 I'ihe 2011 Aci'i. In carryinTr out rny ¢xafflinaik(kn I hav¢ followed Ekne Direciion5 given by the Charity Comfflission uTrdcv srclion 14iliMbl of Ihr 2011- Act. Ipdependtnt t54min¢r's siatement I haye completed mv eYaminJiion. I confinn Ihai no maiicr5 have coffte io MY aiteniioo in c0Thtri10 M'iih lh¢ e.¥aminaiion living me caSe 10 btliewt= accoutIn records were kepi in rrspc¢t of MulEipl¢ Srl¢r05is Therapy Ctnir¢ s(l1h W¢si Limil¢d tss quirtd by 5eciion 386 of Ihe 2006 Ati. or 2. Ihe accouTh15 do Thoi •c¢ord u'iih Ihost reco5.. or 3. Iht accounis do noi comply wilh Ihe accotsniing rtquiremen15 of seciioTr 396 of the 2006 Aci oiher Ihar any requircmcnl that Ihc accounis Èivt a 'lruc and fair vitw. which is noi a maiitr eonsidtrtd as pari ora independ¢ni ¢x8miTr&iion: or 4. Ihe accounis have not been prepared in accordantt wtth ihe methods and priTr¢iples of Ihe Statemeni of Recornmedcd Praclicc for acrouniiTrg ad rrporlin accouills in atcordanct with Ethc FinaTrcial Reponing Standard applicable in ihe UK and Republic of I have no eonctrns ad have eome across no Oiher maiicrs in conneciion wilh lh¢ tiaminaiioll 10 which ait¢niio Should br drawn in thi5 repon ordEr its cnablc a proper undeTsiandinE ofihr. account$ 10 bt Ttathcd. Mr David Tucker ACA FCCA Chanered Accouniarils Insiiluie ofchartertd Accounianis in Entrland and Wales I Colltion cseeI xtier Devon EX2 4DG Dale.. Pag¢ 7
Multiple Sclerosi5 Therapy Centre South West Limited Statement of Firtaneial Acliyities for the Year Ended 31 March 2021 (Including Income and Expenditurt Account and Staternent of Total Reeognised Gains and L055e$) Unttsiritltd Re5tricitd TDtal 2021 Intomt and £ndowllbeNts fro= Donations arsd legaties 30.446 78.063 108,509 32.997 16.724 32,997 16,724 Total Income 92.021 78.063 170.084 E%peTrdiiure on: Raising fndS 1?2.4881 (147.40)> (92.4881 1159.9681 Toial e.¥pendiiurt G8insll05se5 on invt51meTri 8SS¢IS 1169.8931 87.612 1182.4561 87,612 Nei income Transfers beiween truthd5 9,740 65,000 6).500 165.000 75,240 Nei rnVVEm¢nt in funds 74.740 500 75,240 Retomtil¥*iiots or funds Toial funds brought forwaid Toial funds ¢arri¢d fonyard 500 1.086.515 Th¢ noies on pagt5 12 10 27 fomi an iniegral part ofihe5¢ finonci&l siaieffltnts. Pa£e 8
Multiple Selerosis Therapy Centre Soutlt West Lirn ited Statement of Financial Activities for the Year Ended 31 March 2021 (Ineludiftg Income and Expenditure Account and Statement of Total Recogni5ed Gains and Losses) UTrresiri¢ted Hesiritted Totgl 2020 IrOm¢ ind ETrdowmtnts frow: Donaii0Trs atrd lega£ic5 25.690 50,268 44.688 18.567 1.549 27.239 50,?68 44.688 18,567 Oihcr iradiNg aclivjlics InYe51ment in£om¢ Toial *ncorne 1.549 140,762 ExpEuditurt oA- funds 138.Oi31 138,Oi3 Toial cxpendiiure Gainsllosses on inve51meni as5e15 139,081) N¢1 ¢.¥pendilur¢ Transfers beiiyetn 179,6871 550 191.4741 liio) NeT movtmtni in funds 112J371 191.4741 RteonciliitsoTr of (wods Toial funds broughi fori¥ard 1,090.912 12.837 Toial funds carried forward 21 500 1.012.275 All of ihc ch&rily's aclivilies derTve fvom coniinuino optraiions durimfr the •bovc Iwo periods. Th¢ funds brealdown for 2020 is shoiyn in 0¢C 21. The notes on pa0¢5 12 10 27 fonn aTr initgrnl pan o(Ihese financial sthi¢m¢n. Page 9
Multiple Sclerosis Therapy Centre South West Lim ited (Registration nurn ber: 02270804) Balance Sheet as at 31 Mxr¢h 2021 1021 2020 ole Fixed assets Tangible asseis Invtsimenis 14 6?2.971 429.433 567.498 40i.276 1,05?.404 972.774 Current aS5tts Stocks D¢bior5 Casb ai bank iTrd in hand 16 1.973 20.754 70.222 316 18 36.637 92.949 50.714 Creditors: AfftowTrr5 fall¢Ag due wiihiffj ooe yt•r 19 157,8381 'tt turrtnl SStt$ 39.501 i et ¥55tlS FuTrd5 of thE chirity.. Rtsiricted intomt f¥ods Re51riatd fund5 1.0 500 UAre$iritltd intomt funds UTrresiricied funds 1.086.515 Toial fwTrds 21 For I¢ financial Y¢ai cndiDg 31 March 2021 Ih¢ charily wa5 eniiiled 10 txtmpiion from audil under settioD 477 ofiht Companies A¢1 2006 relaLLn8 10 sma15 companits. The membets hawe noi required Ihe charily 10 tsbin an audit of ils acrtsun15 for ih¢ ycar in quesiion in a¢¢ordan¢¢ wilh s¢ciion 476.. and Th¢ dir£¢iors 4¢knoivledge th¢ir r¢5ponstbiliiie5 for complying wilh Ihc requ1Men[S of iht Aci wilh respect to actouniing tt¢ords and th¢ ppa[allon of atttrunts. These accoun15 have bc¢n ppared in KrordaTrce wilh the provisK)Trs ¥ppli¢able 10 companits subjtei io Ihe small companies rtgime. Thc noles pases 12 to 27 an inttgnl pan ofihe5e financial sthi¢mcDIS. Page 10
Multiple Scler05is Therapy Centre South W¢si Limited (Registration ber: 0227O8V4} Balance Sheet 35 at 31 March 2021 The financi31 sialrmtthrs on pafrts 8 10 27 approved b¥ ihe IfsIteS. and auihori5cd for is5 D .241.i Jnd 51anLd Ihe¢i behalf by.. rdo ee The noie5 on pages 12 10 27 forni aft iniegral part of iht5e fsnancial 51aiemenis. Page 11
Multiple Sclero$i$ Ther¥py Centre South West Lim ited Noies to ihe Financial Statements for th¢ Y¢¥r Ended 31 March 2021 I ChAriiy Sliiui The charilv is Iimiied bv guarathiec. IflLorporaitd ITr England & Walcs. aTrd con5tqeftil1. does fio1 have share capiial. Earh of th¢ irusi¢es is liable 10 coriiiibuie amouni noi elc¢¢di8 £1 i0,ardS the a55¢l5 01 Ihe chatiiv ift Ihe e¥eTht of liquidlOn. Z A¢cowni1% policies mary of sigThifi<Mt #t¢ouTrlillg policits and key ¢totsiti8 esiimaies The principal accouniino policies appli¢d in lh¢ pr¢parniion of Ihese finaficial 51ai¢rn¢This art Sei otsi below. These policie5 have been consi51ently applied its all Ihe vears presenied. unle55 Oiherwist siaied. Siat¢ffj¢oi of complioct The fInacIal 5taiefflen15 knaY¢ been prcpared in accordance wilh Accouniin# and Reporting by Chariiies.. Siaiemcni of Recommended Praciict applicable 10 chariiies pfepafinfr Iheir accouTr15 ITr accordance WiTh Ihe FinanLial Reporting sladar0 applicablc in the UK and Republic of ITeland IFRS 1021 (effeciive l Jllnuary. 20191 . IChaTities SORP IFRS 10211.. Ihe Financial ReportiTrg Standard appliLible in the UK aTrd R¢pvblic of Ircland IFRS 1021. They a150 comply wiih Eht CofflpaTri¢s Aci 2006 dnd Charitie5 Ari 201 Basis ol prtp•raiio MultFple Stlerosi5 Therapy CtTr¢r¢ Sliuih Wesi LiThiicd TheEE5 ihe dcfiniiion of a public benefii EThtiiy under FRS 102. Asse15 Ind liabiliiies iAiiiall¥ (ognIsed Jt hiswriral rosi or iran51ciion Yalu¢ nIeSS 01heISt siaied in the relevani acconi12 policy noi¢s. tomtern The Irusie¢s considtr Ihai Ihtrt art no mai¢rial ¥n¢¢riainiit5 aboui ihc chaviiy% abiliiy coniinut as a goinf• coftctrn Dor any si8nificanl areas ofunttrtainty Ihtti atrtci ihc carryin¥ value of asseis hcld by ihe rharity. IDtomt gnd Èidowmen15 All income is recognised onc¢ ihe rharilv has tntiilemtni io the intome. il is probable ihai Ihe in¢offl¢ will be ¢iv¢O Ihe ?mouni olihe incom¢ r¢c¢ivable be m¢85UTed reliably. DonolioThs #Rd le¥qciE5 DoNaiions arc rcrogni5ed Whe Ehc <harbly has btcth noiifKd in wiilills of boih Iht imouTbl ad seiilefftent daic. ITh lh¢ tveni Ihai a donaiion is subjt¢t to coTrdiiions ihaE r¢qlre a Icyel of pcrforman¢e by ihe chaiiiy btfore Ihe chariiv is enliiled 10 Ihc funds. Ihc income 15 dtferred and noi rt¢ognistd EIll tiiher Ihost conditions are fully mct, or IhE ruifilrneI of Ihos¢ ¢ondillDn5 is wholly 4Yiihin the conirol 4)f ihc chaTily ad il is probabl¢ Ihai Ibes¢ oodiiions will bt f¥ifilltd in Iht rtpoiiin period Grallrs r¢ceivuNe Gianis are recognistd when Iht chaiiiy has an eTriiiltmeni 10 Ihe funds and any condiiions linked 10 Iht graTrlS hayt btcn mcl. Whcrc perfDrMance conditions aTc illachcd lo rhc %ranl and •r¢ yei 10 bt mci: the iTrcom¢ is f¢Wglstd as a liabiliiy and included on the balanc¢ 5heei as deferred sncorne io b¢ rel¢ased. Page 12
M uliiple S¢ler05i$ Th¢rapy Centre South West Limited Nole5 to the Fin4nci¥l Stgtements for the Year Ended 31 March 2021 Deferrediffcome Dtrtried incorn¢ repr¢senis reLciY¢d for fuiuwc pcriods and is rtltased 10 incomiog res0r¢¢5 Ihc P2riod for which. il has bccn rcctived. Such Incomt is only deftired iYheTh'. The dLin0i 5prrifits thai ihe groni or donaiion musl only be used in fuiurt a¢couniino periods: or Th¢ dtsnor has ¢mp05ed eondilions which mu51 be rnti belore Ihe chariiy ha5 ncOndi110al eniiilem¢thr. InvesirneKi iRcoffte Dividends arc rE¢ogni5ed onr¢ ih¢ diYid¢nd hos been dtclawed and thOlifi¢aiion has been received of (he diyidend due. E¥PeHditrr All riprndilurt is recogni5td once rh¢ 15 a legal or wn51rnciiYe obli8arion lo ihai cxpcndilurt. il is probablt s¢iil¢mtni 15 required and ihc amount can br Mcasured rtliiblj,. All cosis are allocaied io iht applicable cxpcndilutt htading thai aofrreoaie similar c0515 to Ih81 raieoory. Wh¢re co5t5 C3nnoi bc direcil!. aiiribuFed 10 PartiClaT hea{ji8$ Ihty have been 8llocaitd on a basis con51sicni wilh ifre use of resources. wilh ceniral siaff cosis allocaicd on Ihe basis of lim¢ speni. and depr<ciaiion char%es allouied Ihe poriion of iht assei's 5¢. Other 5llppon costs art allo¢aied based on Ihe SP&d ofsiaifc051s. These are costs inLurred aiiraciing volvniary income. lh¢ managcm¢ni of inv¢51fflen15 and ihos£ incuirtd i ChrI1ble ucriviries Chariiable ¢xpenditure coThprises ihose cosis ithcurd by Iht charily in ihe delivery of 115 aciiYiii¢s oThd serviccs roi Ils beneficiari¢s. It incl¥des both cosis ihai can bc Jllocalcd dirttily 10 Suth atlivilits and Ihost C0515 of a iThdirecl nalurt nttessary io suppori Ihem. Govttnmtni 8rAlblS Governrrtent oran15 are r¢¢ognis¢d ba5vd on ihe accrual model afrd are mtasurtd ai Iht fair value of Ihe asset receiyed or rEceivablr. Gwanls art classified a5 relaiino tliher 10 venUe or 10 a5s¢is. Grin15 relatinn lo reven arc rt¢o2nis¢d In Income over the period in which ihe rclated cDsis art Tccognised. Granis rtlaiinB 10 asst15 art Tecognised over Iht txpetltd useful life of the assei. Whcrr pan of a gr¥1 relaiiTrg a$s¢i is deferrtd, li is Tecoonised a5 deftrrf d knroffle. Th¢ Coronaviius Job R¢ienfioo Srh¢ffle giani has been crediied 10 other income so as 10 match Iht glani 10 Ihc ndeilyin8 eligible fu¢loughtd siafTexptndiiurt 10 whi¢h li relaies. Tg¥1io The charity is considtttd 10 pass ihe iems Sei oui in ParnTrr4ph I Schedul¢ 6 of ihe Finonrt Ati 2010 and The[ole il meeis rhe definiiiorn of a chariiable company for UK corporarion lax purposes. Accorditsoly. the ¢hariiv is poienliallv eiempl frofft iaiation in respeci of income or capiial oain5 received iviihin caiegoTie5 Covered by Chapier 3 Part I l of the Corporaiion Tax Aci 2010 or Seciion 256 of the Ta.¥ation t)r Charg¢abl¢ Gains Aci 1992, 10 ie ¢xieni Ihai such in¢0m¢ or gains art applied e.KclusiYely 10 chiriiablr PUfPOSts. TaRgiblt fixed isst15 Individual fixed asseis CL15tino £100 or fftore are initially r¥¢ord¢d al rosi. Itss any subsequeni xcumulaitd d¢pre¢ialion and sbsequeI i¢cumulai£d impaimie4bl losses. P4tse 13
Multiple Sclerosis Therapy Centre South West Limited Noits io the Financial S¢¥temeDts for ihe Year Ended 31 March 2021 Dtpretiltion ind iffloriisilio D¢prrGiaiion is providrd on iangible liied ¥stis $0 as io wriic orr ihe cosi or v8luaiioth. Itss an%. C51imaied r¢sidual vèlu¢. over Ihtii e.¥pt£ied 5¢[1 etonomic life as follows.. 55ei class Fr¢ehold prop¢rsv Plani and ma¢hiTr¢ry Chambtr and equ¢pmeTri Office tquipmeni Compuier tquipmtni Motor vehicles DtpretlalioA theilod and rgie l%oncosi 25% redwcing balancE IO% reducin2 balanct li% rtdueing balancc 33V4 OA tosi 25% rtilucia8 b¥ln Fixed ASStl inYtstmeNIs Fi¥¢d asset inv¢stmeTht5. oiher ihao pTo•rnmme relaitd invesimtnis. are iocl¥ded ai market value ai Ihe balance sheet date. Rtalised gains and losses tsn ive51clS ar¢ LalLulai¢d as ihe dirreTeneE beiiYEEll >alE5 proceeds and their rnark-ti Yalue ar starr of th¢ year. or ih¢ir s¥bs¢queTri ¢051. and ar¢ £harg¢d or ¢r¢dit¢d io Ihe Siaitmtiii of Finan¢i?l A¢iiYiii¢5 Ihe period ofdisposal. Unr<alised Rains and 10SS¢5 repre5eI Ihe fflovemrni in rnarket Yalu¢5 duri8 the y¢ar and are credited oi Chaed io Ihc Si¥ierncDI of Financial AciivTlleS based on ihc markti value ai Ihc yeaf ¢Dd. Stock Siock is valutd ai Ihe lo¥vtr of c051 and tsiimaitd sellin prict Itss cosis 10 compleie and Sell. after due regafd ror obsoltlt and slow moying siocks. Cosi bs deitrmithtd u5iThg Ihe firsi-in. fitsi•ul IFIFOI. Trade debtors Trade debiois are amounts due Irom cusiomtts for merthandise sold or services peiformed in lh¢ ordinary CtsUFse of busilless. Trade debiors are recognitd tniiially ai Ihe rtsnsaciitin pritt. They are SubseqveI1Y ffleasured ai 3mortis¢d rosi sing th¢ ¢ff¢clive inieresi method. 1¢55 provj5ion for impairm¢Trt. A proYi5ion for ih¢ impairrn¢fji of Irade debiors is esiablished whtth Ihtrt 15 obje¢iivt tvidtnet Ihai ihe charily will noi bt ablt 10 eolleci all amounts due accordi% to ihe origin31 ierrns of th¢ ¢¢1¥abl¢5_ Cash And cash tqui¥alti$ Cash and cash equivalenis cofftprist cash on hand and call dtposiis. and oihef 5hoM-ierm highly liquid invesimeThis thai art readily tonvenible 10 a amouni of cash and ate subject 10 an insignifi¢aTri risl- of hang¢ in v8lu¢. Trllde credilor5 Trade erediiors are obligaiions io pay foi goods or services th31 have been acquired in Ihe ordinary cOr5e of bu51n¢5s from suppliers. Accouois payable art classified as curreni liabilities if Ibe charity doe5 noi have a ucottdilional ii8hi. ai ihe cTrd of rhe reponing pcriod. io defer scl(IEmcni of Ih¢ ¢rediloT lor Bl leasi iiyèlve monihs aner ihe r¢poniDg dale. 11 The is an un£ondiiional righi io dtfer 5enlemeni for ai leasi Iwelve monih5 atler Ihe ItportinR dale. Ihey aye presented as non-tur1eI liabililies. Trade crtdiiors are T¢co•nised insiiallv ai Iht irnnsaciiofi prite and subsequently measured ai amoriised cost using th¢ ¢ff¢¢iiv¢ ini¢resi m¢ihod. Paoe 14
Multiple Sclerosis Therapy Cenlre Souih Wesi LITh iled Notes to the Financial Staternents for the Ye¥r ETrd¢d 31 Mr¢h 2021 Fund 5tryrture UDrt51riried illCQlllE funds art tstTrernl futhd5 thai are available for use ai Ihe Irusiees's discreiion funh¢r8nc¢ of ihe objeLliYes ofihe chaflly. Oesianaied lullds ar¢ unie51ricted funds scl asidr foT spccific purpost5 ai Iht discreiion of Iht Iru51ees. Rtsiricied iDCOrne 4r¢ ihos¢ donaied for use in a partielllar alta or for specific purposts. Ihe use ofwhich l5 r¢51ricied io ihai area 01 purpose. Pensi0Tr5 and other post retirtlllENI obligJtioNs Th¢ charitv opeTaiES a defincd coTrlTibulion pension schtmt whith i5 a pension plan under ii'hich fixed fDnlribu110I5 art paid iTrio a pension luThd and Ehe chariiy ha5 Icgal OT CtsIISITDcliYc obligation 10 pa). lurther ontribulions even if Iht (und dots noi hold 5ufficieTri as5e15 10 pay all eDtplo>'tC5 Iht b¢tfitS r¢laiing 10 tmployee service in Ihc curr¢ni aThd pritsr periods. coniribuii05 10 defilltd co•iiibuiioTr plan5 &r¢ recognised in Ihe Siaiemeni of Financial Acii¥iiies whtn Ihty are due. If roniiibuiion paymenis excetd Ihe coniribuliofj dvt for servi¢e. Ihe ¢x¢¢55 is recOglSed as a Prepayme[. riTrancial inSlTumts)Is art iniiially rt¢ooni%d ai ir¥n5ariion Yalu¢ 5ub$eguenily rneasurtd ai iheir settlemeThi Yalwe. 3 Intome from doTraiiois •od legrit5 Uresiritied fund5 General Rtstritttd rwTrd5 Tot1 runds Donations and leoacies,. DoTraiions from LompaThies, irnsts and similar proceeds Donations from individ&15 Mtmbtrship fee5 Gr3Tr15, in¢luding capiial Rrants- Gov¢Tnmen( gTanls Granis fiom Oiher chariiits 4.000 21.646 4.800 4,000 22.146 4.800 500 12.563 65.000. 12,)63 65.000 Ttsial for 2021 3O_446 78.063 108.509 Toial for 202• 25.690 1.549 27.239 Plge 15
Multiple Sclero$is Therapy Centre South Wesl Lim ited Notes to the Financial Statements for the YeAr Ended 31 M#rcb 21121 4 lfflcome from thiriiablt Clii'itits L+nre51ri¢itd funds General Total r¥Dds CEnirE sHles Tr¢aiffl¢ni 1.743 31.2)4 1.743 31.254 Total (or 2021 32.997 32.997 Total (or 2020 50.268 50.268 5 INiomt Irom olhtr trading gtiiyitit5 UNrtstrictrd lunds GtntrAI Toil Tradlng incomt.. Shop intomt from 5alc 0rdoaled goods and services Sales ofgoods and strvi¢ts Fuodraising t¥tn15 Solar panel income Properly ienial income 465 1.092 2.187 834 12,003 143 465 1.092 2.187 834 12.003 143 Total for 2011 16,724 16.724 Toial for 2020 44.688 44,688 Uttrestrieted TDt41 fuThds Gtneral Inieresl receivable and similar incomt.. Initst rtctiyablt on batsk dtposi Oiher in¢omc from fi¥td a55tI Invc51m¢nis Toial lor Z121 TolAI lor 2120 18,567 18.567 Page 16
Multiple Sclerosls Therapy Centre South Wtst Lifflited Notes to the Fitsanttal StalemeDts for the Year Ended 31 March 2021 7 Exptthdilurt oty r8isint Ufftre5triried ruds Centrxl 2021 Totil 2020 Toial lunds Cosi of g¢traling dtsnaiioths and 14acies Fundraisino LOSIS Cosi ol geneTaling rcnl81 income 6,551 6.642 24.961 6,450 3.81S 3.81) 22.4¥¥ 38.053 8 £¥p¢Trditure thritblt ttiitits UNrtStrictcd fuTrd5 D¢sigoated UThrtSlritltd runds General 2021 Tor1 fulds 2020 Toi*l Resirititd Ccnir¢ sa1¢5 Tieaim¢nis cosis Centre operaiions 3.261 54.928 67,735 3.261 76.409 80.298 5.292 84,984 64.826 12.563 21,481 125.924 12.)63 l i9.968 Pa8e 17
Multiple Sclerosis Therapy Cenlre South West Limited Noies io the Fingncial Statements for the Year Ended 31 March 2021 %tt intofflingloulgoiwg rtsolrces Nei oulgoin¥ rcsourcE5 lor ihc j'car Iniludc-. iozi 2020 Ind¢p¢ndelli ¢Yafflination fee L055 on di5P05al of fi.Ked a55ers hEld flir ihe rharityts own u tkpreciatioTr orri.¥ed ass¢ 3.400 47 21.481 3.289 14.530 I l Trusltts rtmuntratio• and expenses No Irusiee5. nor aThy ptrsons cothnetltd wilh Ihtm, haye rtceived iny remutheraiion from the chariiy dvring ihe yeEr. No Irllsiees hove reteivtd 1mbU[s¢0 expcThs¢5 from Eh¢ chariry during ih¢ year. 12 St>ft costs The ag8iegiie PayToII ¢os15 w¢re 45 Folto%vs- 2021 2020 Staff co$15 during the vear wtre: Wages and salaries 100.794 332 2,401 2.620 91.495 732 1.996 1.407 PcnsioTr cosis Oihei siaff tosis 106,147 95.630 The momihly a¥trnge number of persons lincludinx seThK)T mathagemtni ieam? employed by ihe charity durin lh¢ y¢ar wi$ •5 follows.. 2021 2020 Support serYi£es Managemcni and adrniTrisiiaiion 10 512020- 61 of Iht above employtes panitipaltd in Iht DcfiTrrd coniribul1o Pcnsion Schctnes. cwtrlb1I05 10 lh¢ tmployct pension 5rh¢me5 for ihe ycar ioiallcd E2.40112020- EI.9961. No employee received tmolumenls ofmore ihan £60.000 during thc year. Tht ioial tmployte btnefils of the kev managcmeni pttsonrtl of Ihe thariiy wert £20,376 12020- £23,777). Page 20
ultiple Srl¢rosi$ Therapy Centre South West Lim ited Note5 lo the Financial Statemertts lor the Year Ended 31 March 2021 13 T#x#tion The chariiy 15 2 rcgi51trtd tharily and is [herore exempi fTOffl ia¥aiioTr. P¥ge21
Multiple Sclerosis Therapy Centre Souih West Limited Notes to the Finanebal Statements for the Year Eoded 31 Mareh 2021 li Filtd assei i•ve5tme•is Oiher iA¥tsimenis Li5red Total Marker ¥•It Al l April 2020 Additions Disposa15 NEt ?ainslilo55C51 on irbVC51menls 40i.276 12,052 175.507 87,612 40i.276 12.Oi2 175.5071 87.612 Al 31 March 2021 429.433 429.43J Thert were no inve51meni asseis OU15ide Ihe UK. 16 Stock 2021 2020 Siocks 1.973 17 Dtbiors 2021 21120 Trad¢ debiors Prepayrn¢nts Accrued income Tax recov¢rablc Oihti dtbioTS 2.536 7,444 200 10.574 2,013 5,381 217 6.0(rt) 150 20.754 18 Clsh A Trd tish tquivalents 2021 202• Cash on hanEI Cash at bank Oithei cash and eash equivalenis 60 70.162 20 24.)65 12.052 70.222 36.637 Page 23
Multiplt Selerosis Thtrapy Cenlre South We5¢ Lirn it¢d Notes to the Finaneial Statements for the Year Ended 31 Mareh 21121 19 Creditors= IMoMTrts fxlling dué wiihiN ot ytr 2071 20ZO Tfidr tdI¢0[$ Oiher iax31ion and social Secr11Y Acrruals Dcfcrrcd incomc 47.819 2.867 4.012 3,140 2.355 3.974 4,884 i7,838 2021 2020 Deferred incomf ai l Apiil 2020 Resourees deferred In Iht ptriod Amounis released from previous PerdS 4.884 3.140 14,8841 3.329 4.884 13.3291 Deferred 7n£ome ai year tTrd 3.140 4.884 20 Pension and oiher sehtmt5 Defined toTrtributioTr peA510n Sthtme The charity OPtrait5 a defined coniribulion pensM)n sthemt. Tfve peThsM)th COSI charge for ihe year r¢preselllS Ol[1bli0ll5 payabl¢ by Ihc rhariiy 10 the 5¢hem¢ aTrd amollnttd 10 £2.401 12020 £1.996)_ P•r•e 24
Multiple Sclerosis Therapy Centre South West Limited Note$ to the Financial Stgtements for the Year Ended 31 March 2021 The 5pecifir pllrposes for which the funds art 10 be appld are as follows= Desjonaied Funds ThEr¢ is a dE5ignai¢d I'ulld for £490_639 12020 £493.1371 for Iht oei book value of Iht Ofl?Inal cosi of Iht property as Iht pioptrry canftoi be 501d iihotyi Iht approval of a donor uTriil 2077. A5 the value cannoi bE realised and ws¢d, th¢ fuThd5 have been de5ignarcd 10 show Ihty art navailable. Tht balancc of filed asst15 has a150 been desigal¢d as Ihcsc will also not be realised. Purpose of Restricted FuTrds The Exeier Chiefs Foundaiion fund repie5enis a £65.OOQ grallE rcc¢iv¢d io Oxyg¢ g¢n¢ration eq1PMen1. During the year ¢quipmeTri wag puirhased. thettfore we made a Irathsftr of Ihe 51r1¢1td balanct 10 Ihe unresiricied dtsiDnai¢d funds. Tht JRS grani fund rtprestn15 amouTr15 rtceived from Ihc Goyrrn¢l in r¢laiM)n lo fyrlollghctl Staff during the year. The gaiden pany coniains a grani £500 tts be used iovards a summer zarden party. Thv ECC Comrnuniry Grani rtlaie$ 10 a £500 818ril reetivtd for the purthast of garden frni1e. 22 .4thly$i$ of net sieis bettvtt (Inds Total (ndS 4t 31 lllarch 2•21 UThrtSiriclrd fuwds Central De518nated Resiri¢ted runds Tangible fixed a55tlS Fi%ed 8s5ei invesimcnis Curreni 855eis 622.971 622.971 429.43J 92,949 li7.8381 429.433 91,949 157,8381 1.000 Toi&l nei a55e15 463.544 622.971 1.000 Total f¥#ds it JI Imirih Uoreslrirted fuad5 Dtsigth*ttd Restricted runds 2020 Tangibl¢ fixed ass¢ts Fixed assei in¥esimenis CurrEni assets 567.498 567.498 405,276 50,714 40i,276 50.214 500 Toial Dei a5%15 444.177 567.498 ioo 23 Relaied party trivsartlQI5 Donaiion5 ano M¢MrShip f¢r5 toialling £133 iytwt ttetivtd from irusites in Ihe ytar {2020.. £nill. Page 27