Company tegistrolion number: 02270804 Charity registration nwnber: 900083 Multiple Sclerosis Therapy Centre South West Limited (A company limited by guarantee) Annual Rcport and Financial Statements for the Year Ended 31 March 2025 Thompson Jenner LLP Chartered AcLX)untants I Colleton Cffs(*nt Excter Devon EX2 4DG Multiple Sclerosis Therapy Centre South West Limited Contcnts Reference and Administrdiivc Detatls Tru5tces' Re￿rt 2to5 Statement of Trustees, RcspK)nsibilities Independent Examine¢s Reptrt Statement of Financial Activitics 8t09 Balance Sheet 10 Notes lo the Finan¢ial Ststcmajts Ilto26 Multiple Sclerosis Tberapy Centre South West Limited Reference and Administrative Delails Chairma T Courtney Trustees S J Reardon J Dowden T Courtney S Plurnb Setretary M A Holme5 Cbarity Registrxtlon Number 900083 Company Reglstration Number 02270804 The chariry is incorpora¢¢d in England & Walcs. West Grdnge Clyst Htrdth Exct¢r D¢von Reg15tered Office EX2 7EY Investment AdvisoT5 Brewin Dolphin Group (r&signed 14 February 2025) A5hl¢iEh Court Ashlcigh Way Lansage Business Park Plymouth PL7 SJX Evelyn Partners Group Limitcd IApwinted on 19 Deccmbcr 2024) 45 Gresham Strect London EC2V 7BG Independent Examiner Thompson Jenncr LLP Chartcred Accountants I Colleton Cresccnl Exeter Devon EX2 4DG Bahkers CAF 13ank Lid 25 Kings Hill Avenue Kings Hill West Malling Kent ME194JQ Page I -multiple Sclerosis Tberapy Centre South West Limited Trustees, Rcport The trustees. who are directors for the purwses of company lawtr prcseni the annual rerK)rt 108¢th¢r wth the financiai ststements and auditors, reFx)rt of Iht charitsblc company for the ycar cnded 31 March 2025. I. REFERENCE AND ADMINISTrATtVE DETAII.S 1.1 Legal StTUtlure The Company was incorwrdtrd in En8land and Wales on 24 June 1988 and is limiled by guarantee under Company number 02270804. It is a registered Chariry undcr numbcr ￿0083. The Charity ￿$0 operatcs under the name of the South Wesl MS Ccntrc. .2 Addres5 Re8isLer¢d office and headquan¢rs: Wesi Grange. Clyst Heath. Excter. EX2 7EY. 1.3 'fruJt¢e$ *nd EAeciitive Commlttee Rory Gibson {Chair> (Aprx)inted 20 April 2019, Res18ned 2 OctO￿r 20241 Karen Jamieson IApw)inied I l June 2020. Resi8n¢d 24 September 20241 Stephen Reardon (Appointed 13 March 20201 Jackie Dowden (Appoinled 22 Septemkr 2022) Tristan Courtney IApFK)inled I l May 2023) and apwinted Chair from 4 December 2024 Mikc Holmes- Company Se¢re¢ary' (Apwinted 20 Augltst 2020) Kcy mana8emeni personnel includc all Trusttts and the Chief Executive oificer. 1.4 Profes$ion•l Advlsors Independeni Examiners: Thompson Jenner LLP. I Colleion CrescenL Exthr. EX2 4D BankLrs- CAF Bank Ltd, 25 Kings Hill Avenuc. Kings Hill. W¢st Mallin81 Kent, ME19 4JQ Investrnent Advisors.. To 14 1."ebruAry 2025: Brewin Dolphin Group, Ashleigh COUTL Ashleigh Way. Langage Business Park. Plymouth. PL7 SJX From 19 December 2024: Evelyn Partners Group Limiic& 45 Gresham Sl London. EC2V 7BG Insurance Brokers: Little ANT Insurdnce. Th¢ Old Bank, 306 Torquay Road, Paignton, Devon TQ3 2ER 2. STRUCTURE. GON'ERNANCE AIID MAliAGEMENT 2.1 CJOVtrnance The Charity's govcrning document is its memorandum and articles of Issociation. Thc key people in the or82nisaiion orc.. . The Members . The F.xccutivc Committtt (Trusiees in Law) . The Centre's Staft. inrluding voluntcers Page 2 Multiple Sclerosis Therapy Centre South West Limited Trustees, Report Membership of the Centre is open to individuals who wish to use the facilities of thc CcnLre, or who wish to furth¢r the objects of the Centre. Each mcmber's liability is limikd on winding up to an ami)uni not exceeding £1.00. Mcmbers in addition pay an annu￿ m¢mbership fee. The tNstees are ail members, and will be appointed for a 3 ycar temj and they can serve a m￿lMuM of 3 terms. Each year. a third of the director5 will rc5ign. Thc Exccutive Committee has total resF¥)nsibility for implementing the aims And objectives of th¢ Centre through thc dcvelopment of appropriaic Folicics and strdtegie5. Regular committee meeiings are held al le&%t bi-tnonthly throughout thc year lo monitor and review the work of the Centre. The numbtt of members &s at 31 March 2025 was 363 (2024 was 342.) 2.2 Trn5tee Iuduction and Training The CEO artd Chair are reswnsible for cn5uring that new Tn]stee5 arc familiari5ed with the resourcing and financc5 of the Charity and ivith thcir duties &s Trustees by distribution of the Charrty Commission's appropriate guides as to the duties arkd responsibilities of Charity TNstees. 2J Risk Assessn)ent The Truslccs undertake continuous assttssment of thc major Ti5ks to which the Centre is exposed using guidclines dcvclopcd by thc Charity Commission. Key are&s are identified and regularly reviewed. The necessary action thal nccds be taken to mitigale risk5 is identified> pu( in hsnd and monitored. A financial reserves wlicy h85 been estsblished to ensure the continued operation of the Cenire. During the year the prcmisc5 at Wc5t Grange were sold and the charity now rents the building from the new landlord while the search coniinuas for more.suitablc acromrr]odatLori. 3. OWECTIVES AND ACTIVITIES 3.1 Objecliye The object for which the Centre WLS estsblished was and is to aid and irrtprove thc wndilion of those diagnosed ivith Multipl¢ Scleiosis, and others who may benefit from ihe therapies offercd al ihe Centre. The artrd of opcralion being thc South West of England whi¢h in practice extend5 from mid Somcrsct and West Dorsei down to East Cornwall. 3.2 Publit Btttefit The Trustees arc salisficd tha( Ihe Charity's stalcd objEclivc falls within the category 'advancement of hcalth" which is set out in the Charities Act 20I I_ The Charity meets this objeciive through thc provision of Hyperbaric Oxygen Therapy, to people with Multiple Scler05is and also to other members of Lhe public who may may benefii frorn il and other therapies. The Irustees have wmplied with the Charities Act 2011 and their duty to 'havc rcgard, to public benefii guidance provided by the Charity Commission when exercising powcrs or dutiC5 to which the guidancc is relevant. Page 3 Multiple Sclerosis Therapy Cenlrc Soulb Wesl Limited Trustees, Report 3.3 Prlntipal Activity The main 8¥livity of ihL Chariry conLinues to bc th¢ provision of Ilypcrbaric Oxygen Therapy iogether and Phy.siotherapy. nther Iherapies dre a150 providcd at West Grange io enablc an cxtendcd range of Se￿1¢C.$ to be made available for thc benefit of memb¢r.s. A.8ide Irom the provision of 14ypcrbaric Oxygen Thei'apy and Phy5iOthcrapy thc (herdPi¢S provided are by independeni provider5 and not directly by the Chariiy. Thcsc thcrapies in¢lude yos& massage, and chiropody. 3.4 Staff The Board appreciate the continued commitmenL of all the Centrc staff and fanl&sli¢ volunteers during ttiese Lhallrngins limcs. 3.5 Building Ust Any rooms not requiTcd for the Centre's own opcra(ion arc hired or Icased out wher¢ possible, in order Lo providc maximuJn u5C Df (he faLililiLS &nd in urder ¢0 ()b¢4in Lcintribution5 towards the runnin¥ iusls uf th¥ building. Durin8 Ihc ycar. Sensory Connections Ltd oecupicd the top floor of the main building as trnants. Mcl'imoney Chiropraciors leused ihe rcar ttnd front rooms of the Coach House fvr thcir pructlcc. 4. FINANCIAI. REVIEW Mcmbcr5 of the Charily Luntribu¢¢ lo thc cost of I lyperbaric Oxy8en Therr4Py and PhysioLherapy. Othcr Sources or incomc includc room hire, le￿es. granLS and fundrai.8ing. Thc rcsult for thc ycar, before invcslment movements and adjusting for the sale of Ihc property, was a deficit of £24,80612024.. deficit £64.600). To￿7 combined income for the year Wds £324.61 O which is an increase from last year's total combined incomc of 12.111,411¥. '1'his included a profil ()n the salc tsl. Ihc propcrty of£3(),912. Unrestricled income for the year wa5 £282,735 which 1.% an increase from last yw's unrcstrictcd income of £224.533. Total combined expenses includin8 rcstricied cxpendilUTe but excluding investmcnt movements have increased by £17.496 frvm £295,008 (u £312,504. The illLfcdse in LXPLndilur¢ is linked to Ihc inLrcasL in Lcnirc activity. Thcrc has been a Bain on investments of£i.031 (2024= ¥8in of£1 6,515). I'hcsc results show an ovcrall Surplus for thc year of £13.137 (2024: deficit of £411,085). Unrestri¢l¢d ￿ndS have increas¢d by £13.219 10 £909,888, whilsl rcstrictcd funds havc decre&5ed by £82 to £1.951. Thc (olal frcc unre5tricled reserves of the charity h4L4 d¢cr¢iL%ed by £24,786 from £283.337 tu £258,551 us disLlosed in Nole 19 on l)agc 23 of (he accounts. R¢serve5 Policy The Charity's free reserves are £258,551. and excludc dcsignated ￿ndS and tsmgible fixed assets. The target level of tree rL"b¢rve5 15 9 mvnth5' expendi¢ure, which is £240,UOO. Free rescrves are in excess of the reserves policy by £18.551. £201,437 of thc charity's rcsctves have been placed in an investment p)rtlolio managed by Evclyn Pattncrs Group Limiied. Page 4 Multiple Sclerosis Therapy Cenlre South W&st Limited Trustees, Report 5. FUTURE PLANS Our h(wne at The Grangc was sold in December 2024 and are wc now renting th¢ property from the landlord while we continue the search for a more suitsble homc. Th¢ search is challerkging as many of our u5cr5 rcly on their owi vehicles. and our nccd for car parking ofteT] exceeds available even if a property rM)tential. Moving the Hyperbaric Oxygen Chambers 15 noi a straightforward task, so the Trustees and stsff are considering all options for a future venue. In the meantime demartd for our serviccs is increasing and the year w March 2025 saw a fBnwtic expansion An both our Physiothcrapy offcr and Oxygcn Therapy F￿0VIsIOrI. Small compwnles provision statemtttt Thi3 report has bccn prcpareAJ in accordance with the small companies regimc undcr thc Componies Act 2006. The ual report was approved by the of the Charity on ......... . . and signed on its behalf by: Chairnian and trustee Page 5 Multiple Scler05is Therapy CeDtre South West Limited Statement of Trustees, Responsibilities The ti'ustees (who arc also the directors of Muliiplc Sclerosis Therapy Centr¢ South West Limited for the purposes of company lawl are reqponsiblc for preparing ihc trustees, rcwrt and thc fiJ)ancial staiements in accordancc ivith applicablc law and Uniied Kingdom Accounting Standards (Uniled Ktngdom Gcncrally AcCep￿d A¢¢ouniing Praclicel. including FRS 102 "Thc Financial Reporting Standard applicable in the UK and Republic of Ireland.. Company law requires the (rnstees lo prepare financial statements for each financiAI year. Undcr company law the trustees must not approve the financial statements unless thcy are satisfied that (hey give a true and fair vi¢w of ihc slaic of affairs of the charilablc company and of the incoming rtsourccs and application of resour¢¢s, including its income and expenditurc. of the charitsble company for ihal period. In preparirF8 these financia] swements, (he trusie&s are required to.. select suitsbl¢ accounting policies and apply them consistendy. observe the methods end principl￿ in the Charities SORP; make jud8emertts and e.s¢imdtu ihat are re8s0n8ble and prndenL stale whether applicable aLcounting standyrdb.. comprising FRS 102 hav¢ followed, subject to any mal¢riAI dcparturcs dis¢losed and cxplaincd in thc financial st&tern¢nts,' and prepare the financial ￿atcrnent5 on the Boin8 conccm b&5is Unl￿ IL is inappropri4le lo presume that thc charitsble company will contsnuc in business. Thc tnjstees are resp¢)n5ible for keepin8 proper occounling records that can dis¢lose wilh reasonablc accuracy at aiiy tim¢ the financial p051tion of the charitable company and cnablc them io ensure that the finuncial S￿￿ments comply with the Companies Act 2006. They are also reswnsiblc for safeguarding the ass¢ts of the charitsblc company and hencc for takin8 reasonable sieps for the prevenlion and d¢ie¢rion of Iraud and other irregul&rilies. The trustees are responsible for the marntenance and inlcgrity ofthc corFN)ralc and financial infomalion inLludd un lh¢ charitabl¢ company's website. Legislation 8ovcfDing thc preparation and dis.seminaiion of financial 5tatcmcnts may differ from legislation in other jurisdiciions. Approved by th¢ wstCC5 of the charity on .................... and 518ned on its behalf by.. T Courtney Chairnian and trustee Page 6 Multiple Sclerosis Therapy Centre South West Limited Independent Examiner's Report to Ihe trustees of Multiple Sclerosis Therapy Centre South Wesl Limited ('the Cornp2Dy') I w¢)rt co thc djarity vustres on my examination of the accowjts of the Company fwthc year ended 31 Marth 20￿. RtSP0115ibilitits and b¥515 ofTeport As th¢ ¢harity's TJust¢es of the Company land also its direc￿5 for the purposes of company law) yots ¥rc responsible for the preparation of thc accounts in accordwjcc with th¢ requircmenLs of the Companies Act 20061'th¢ 2(Y)6 Act'>. Having satisfied myself that the acrowjts of the Comtwiy are not required io be audited under Pan 16 of the 2006 Act and at¢ eligible fDr independeT)t exarninatiorK l TfPDrt in resprct of Tny Ex￿l￿all0￿ ofyour thatity's a¢counrs as ¢affied out under section 145 of the Charities Ad 2011 ('thc 2011 Act.). In carrying out my examination I have follo5￿ thc Direciions givcn by the Ch8rity Commi￿lOn undersecuon 145(5)(b) of the 2011 ACL IDdependeDt ex4mln¢r's s¢*temellt Since the Company's gross income extteded £250.(KK) your examinu M￿81 be a Mem￿tt of a immty listed in section 145 of thc 2011 A¢t. I ￿nf1rni that l em qualified fo undertake th¢ examination l am a rnember of Institute of Chartered A¢couTrtants in England and Wales, which is one of the lÈst£d IKyJLC5. I have completed my VAarninaiion. I cortfirn) that no mallers have come ￿ my attention in connection with the e%arnination 8iVing me Ca￿se to believe.. accounting record5 were not kern in of Muliiple Scl¢rosi5 Therapy Centre South West Limited as Tequired by section 386 of the 2(K)6 ACL or 2. th¢ accounrs do not accord those records. or 3. the accounts do not comply with the ac£ounling requirements of Sectil￿ 396 olthc 2LK16 Ad othcr than any r¢quir¢mcnt thai the accounts give a'true and fair view whith is not a matter Co￿sIdered as part of kndetKndcnt cxaminathon. or 4. thE accounts have noi èKen prrpued in accoth¢e with the methods and principles of th¢ Stsment of Re￿mmetHIed Practtct for a¢¢ounling and rcporting by ¢haritie5 [applicable to charities preparing their accounts in ￿t￿dance with th¢ Winancial Reportin8 Siandard applicable in the IJK and Republic of Ireland IFRS 102)J. I have no concern5 and havc c(The across no other mattEfS in connedion wth the examinatton to attention should b¢ dra￿ in this report in Lrder ￿ enable a proper undverdble in relation to donations received under gift aid or deeds of covenant is recognis¢d at the time of the donation. Page I Multiple Sclerosis Therapy Centre South West Limited Notes to the Financial Statements for the Year Ended 31 March 2025 InVes1n￿TrI incoh Dividends are recogni5ed once the dividrnd been declared arkd notbfication has been received of the dividend due. Expendllure All expenditure is recognrsed once thcrc is a Icgal or ConSt￿ctive obligation to that expenditure, it is probable s¢iilcment is rcquired and the amouni can be measured reliably. All Ix)sts are allocated to the applicable expenditure heading that aggTegMLc similar costs to that category. ￿there costs cannoi be direcily attributed tr> p8rti¢ular hcadinE5 they have been allocated on a ba515 consi5tcnt with the use of resources. with central staff costs allocated on ihe bLsis of time spent. and depreciation Charges allo¢atcd on thc portion of thc assCt'5 Usc. Other sUPPOrt Costs are allocated b￿d otl Usage. These are costs IncU￿¢d in attracting voluntary inwm4 th¢ managcmcnt of InV￿tMents and those incurred in tnding tivities that raise funds. Charilable dcfivlries Charitable expendTLurc cornprises those costs incurred by the charity in the delivery of its activiti&s and services for its bencficiaries. It includes both costs that can be allocatrd dircctly lo such aclivilics and those costs of an indirect nature necessary to 5UPfM)rt them. Support fosts SupFM)rt COSS includ¢ cerEtral functions and havc bccn a]loca￿d to activity Cost catrgorics on a b￿lS consistcnl with thc usc of r&sources. for example. stafrcosts by the lime speni and other costs by their usage. Govtrnance costs These include the costs aariblltsbl¢ ￿ the charity'5 compliance with constitutional and staluiory requirement including audiL 51rategic management and trustees's meetings and reimbursed exrthses. Government grants Govemment 81.ants arc reco8ni5ed b&%ed on the accntal model and are mrd5ured at the fair I'alue of the asset reccivcd or receivable. Grants ar¢ Classified a5 rclaling cithcr lo rcvcnuc or to asscts. CJr8nts rclating to rcvcnue are recogni5ed in income over the period in Mthirh the rel*ed costs are recogDised. Grants rclating io a55cts arc rccogni5ed over the expected useful life of the a&fi¢L Ivhere part of a grdnl rclating to an a55et is deferred. it is recogni5ed as de[c￿ed income. TgX•tio The chariry 15 considered io pass the Lests set out in Paragrdph I Schcdul¢ 6 of the Finance Aa 2010 and th¢r¢fore it meets the definition of a charitable company for UK cory)oralion lax purposc5. Accordingly. the charity is potcntially exempi from t&x&tion in respeci of income or capitsi gains received withtn caiegoritts covcr¢d b). Chapicr 3 Pail I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such hncotne or 8ain5 are appli¢d ¢xclusiv¢ly ts> charitable purposes. Tangible Ilxed a55tts Individual fixcd a55cts costing £100 or morc arc initially recordcd at cosL I￿ any subsequent acLumulated depreciation and subsequent accumulated impairn]ent losses. Deprec53tion 8nd ¥morlis8tion Depreciation is providcd on tangible fixed assets so &s to ￿lte off the cosi or valuation. less any e5timat¢d residual valuc, over their expected u5efvl economic lifc as follows_. Pagc 12 Multiple Sclerosis Therapy Centre South Wcst Limited llotes to the Financial Statements for the Year Ended 31 March 2025 A55Ct cl*ss Freehold pmperty Freehold land Plant and machinery Chamber and equipment Offic¢ equipmcrtt Computcr cquipmcnt Motor vehicles Deprtcy#tion method and rate l•h on c05t NOL dcpreciated 2511/0 reducing ba]ancc i oil/• reducing balancr 151J/• reducing b&lance 151JA rducing ba]artce 25Y• reducing balance Fixed 15set I￿v￿t￿ents Fixcd asset IllVCSltncn15, other than programme related investrncnw arc included at market value at thc balance sheet datc. Realised gxins and losses on investmcnts aTC calculatrd &$ the difference between sales procceds and their markct vaiuc at thc start of thc y¢ar. or their subsequent cosL and arc charged or Credi￿d to the Statement ol Financial Activities in the period of disposal. Unreali5ed gains and losses represent the movement in market valu&s thiring the year and arc crcditrd or Charged to the Statcmcnt of Financial ActivitÉC5 based on the market value at the yw end. Sto£k Stock is valued at the lower of cost and cstimatcd sclling price less costs ￿ complet¢ and Sell. after due regard for obsolete 2nd sloiv moving stocks. Cost is dctcrniincd using thc firsi-in. first-out (FIFO). Trade debtor5 Trade debtor5 are amounts due from customers for merchandise sold or service5 perfornicd in the ordinary coursc of busirkess. Trdde debtors are recognised initially at thc transaction pri(%. They are subsequently measured at amorti5cd cost using the effective interest method, less provision for impaimient. A provision for thc impairmcnl of trade debtors is CStabli5hcd whcn Ihcrc is objcclivc V+'iden¢e that the charity w'ill noL be ablc to collcci aTnounts due according to the original tenns of the receivables. Cxsh and Lgsh equivAlents Cash and cash cquivalcnts comprise cash on hand and call deposits. and other short-temi highty liquid invcstments that arc rcadily convertible l(J a known amount of cash and arc subjcct to an in5igTJifi¢ant risk of change in value. Trade credi¢or5 Trade crcditors are obligation5 to pay for goods or services that have becn acquircd in thc ordinary cours¢ of busin from suppliers. Accounts payable are classifi¢d as ¢urrent liabilitie5 if ihe charity does noi ha¥'e an unconditional right. at thc cnd of thc rcporting pcriod, to defer settlement of the crcditor for at Icast twelve months after the reporting date. If there is an unconditional right ￿ defer settl¢m¢nt for At le&st twelvc months after the rewrting dat¢, they are presented as non-current liabilities. Trade creditors are recognised initially at thc transaction price and subsequently mc&surcd at amortised cost using the tffcctivc interest mcthod. Fund structure Unr¢.%trirled incom¢ funds are general funds thai are available for use at the trustees discrelion in furtherdncc of the objectives of the charity. DesIgn￿ed funds are unrestricted fvnds sd aside for specific pUry￿S&S at the di3crc¢kon of thc I￿￿ttes. Page 13 Multiple Sclerosis Therapy Celltre S(puth West Limited Notes to the Financial Statements for the Year Ended 31 March 2025 Restricted income funds are those don￿ed for use in a particular area or for S￿lFiC purposes. the use of which is restricted to that area or purpos¢. Penjions and other p05t retiremenl obligations The charity operates a defined contyibuiion ￿nsiOn schetThe which is 2 pension plan under which fixed conlribulions are paid into a pension fund and the charity has no legat or consttuctive obligation to pay further contributions even if the tund does not hold sufficient ￿etS to pay all rmployces the benefits relating to employee seThice in the current and prior periods. Contributions to defined contrtbution plans are recognised ix the Statement of Financial Activiues when they are due. If contribution payments exceed the contribution due for service. the excess is recognised as a prepayment. Flnantial lttstrnments Recogniilopr measurement Th¢ chariry only has financial a&sets and liobilities of a kind that qU￿]fy as basic financial instruments. Basic financfftai instruments are initially recognised ai tr8msaction valuc and subsequendy mvasured ￿ their s¢rtlem¢nt valu¢. Page 14 Multiple Sclerosis Therapy Centre South Wcst Limited Notes to the Financial Statemenls for the Year Ended 31 March 2025 3 In¢oTne from don¥tlons and leg•cie5 Ullre5tricted fund5 Gentral Reslricied Total 2025 Total 2024 Donatiorts and legacies" Donations Iriym ￿mpanIe4 tr￿sts and SiTnilar pro¢ttds Donations from individuals Mcmbcrship fec5 27.0(N) 20.008 8.597 900 2.983 27,900 22,991 .597 7.141 13.821 7.230 55.605 3,883 59,488 28.192 Of the total income from donations and Icgacies IR 2024, £22,317 Ivas UTJrestricted and £5,875 rcstricted. 4 Income from charit4bl¢ activitie5 Unrestricted Tot*1 2025 Total 1024 Genernl Ccntrc 5alcs Treatment 4.170 138.869 4.170 138,869 3.8M 111.035 143.039 143,039 114.879 5 In¢L)me from other tradinE activities Uxrtstricted funds General Total nds TotAI 2024 Trading income; Shop in￿rne from sale of donated gty)ds and suvices Sales of goods and servi Fundraising cvcnts Solar pancl income Pmperty rental income Sundry income 2.418 .606 34.296 .052 33.152 222 2,418 1.606 34.296 1,052 33,152 222 2.457 1,422 32,470 653 42.393 72,746 72,746 79,566 Page IS Multiple Sclerosis Therapy Centre South West Limited Notes to the Financial Statements for the Year Ended 31 March 2025 UnrestrScted fuDds GenerAI Total 2025 Total 2024 Inleresi receivable and similar In1￿m< Interest receivable on bank dewsits Other income from fixed investments 6,968 4.377 6,968 4,377 518 ?,253 11.345 11.345 7.771 7 Otber IDtome Unrestriettd fund5 D￿jE￿ated Total 2025 Gains on sale of tangible fixcd asscts for charitys use 37,992 37.992 Page 16 Multiple Selerosis Therapy Centre South West Limited Notes to the Financial Statements for the Year Ended 31 March 2025 8 Expenditure Allo¢*tion Baslg of Generating Allocatlon Donatlons undraising Cetstre Sales Treatmelll Cosly Rent Centre Operatlons Total 2025 Unrestrlcted RestTleted Current Year D¢pr¢ciation Insurance Light & heat Rates & water Property maintenance Repairs & renewals Slaff cost% (Note I l ) Sundry expens¢s Costs of 8oods sold Oxy8¢n Therapist's fees Evcnls & appeal8 IndepL'ndent examination fee Bank charges Travel expen$e$ Posta8e. prinling & slationery Telephone Advertising Profcssional fees Investment m2na8emenl fees Exercise classes Rent Computer costs Total resources expended Direct Usage Usage Usage Usa8e Usagc Stal'l- lime Usage Direct Direcl Direct Direct Direct Direct Llsage 11,997 6.351 8,563 731 2,245 8,146 42.452 11,997 12.701 17.127 .463 4.491 10,294 144.614 41 5,941 1.225 41,211 10.357 3,459 966 821 11,997 12,701 17.127 1,463 4,491 16,294 144.514 41 4,882 1.225 40,311 10,357 3,459 966 821 3,175 4,282 366 1.123 4.074 3,175 4,282 366 1.123 4,074 90,730 33 5.716 5.716 100 5,941 1,059 1,225 41.21 900 10.357 3,459 966 205 205 411 Usage 119 119 953 Usage Direct Direct Direct Direct Direct Usage 82 82 660 961 824 961 824 815 146 2.128 2,128 9,040 19,757 2,784 312,504 2,128 9,040 19,757 2,784 310.299 9,040 19.757 2.784 117,088 6,126 18,611 5,941 131,961 32,777 2,205 Pgg¢ 17 Multiple Sclerosis Therapy Centre South West Limited Notes lo the Financial Statements for tbe Year Ended 31 March 2025 8 Expendlture Allocation B*$l$ of CFener*ting Allocatlon Donations uThdralsing Centre Tre4tmenl Costs Rent Centre Operations Total 2024 Unrestricted Restrlcted Prlor Y¢ar Depreciation (Gain) l Loss on disposal Insurance Light & heat Rales & water Propcrty mainlenan¢e Repairs & renewa15 Stall- ¢osts INDIC I l ) Sundry expenges Costs of goods sold Oxygen Therapist's fees l.'vcnts & appeals Indepcndenl examination fee Bank charges Travel expens¢s Postage, printing & stationery Telephone Advertising Prolcssion&l fee5 Investment management fees Exercise C]￿se5 Computer costs Total resources expended Direct Direct Usage Usage Usage Usagc Usage Stat'f lime Usage Direct Direct Dircci Dirccl Dircci Direcl Usage 17.558 17.558 17,558 1101) 12,643 32,723 1,122 17,383 18,794 138.936 234 (1011 3,16 8,181 281 4.346 4.710 87,1143 188 6,321 16.361 560 8,691 9.419 40,231 3,161 8,1111 281 4,346 4,710 12,643 32,723 1,122 17,.3113 18,839 139,100 234 5,439 45 164 5,513 23 5,513 23 5.439 4,442 580 11,398 7,801 3,326 1.334 708 997 580 11,818 11,818 7,937 3,326 1,334 708 420 136 7,937 3,326 1.334 354 177 177 Usage 124 124 994 1,242 1.242 Usage Dirccl Direct Direct Dire 132 132 1,055 1,751 4,461 1.319 1,751 4,461 2,594 10.250 2,748 2,748 124.632 295,008 1,319 1.451 4,461 2,594 10,030 2,748 292,726 300 2,594 10,250 220 Usage 5,969 16,500 5,439 121.789 20,679 2,282 Page 18 Multiple Sclerosis Therapy Centre South West Limited Notes to tbe Financial Statements for thc Year Ended 31 March 2025 9 Net InromlDglout£olng resources 2025 2024 Yet outgoing resources for the yelr Include: Independeni examinaiion fee Dcprcciation of fixed &5sets 3,459 11,997 3,326 17.558 10 Tnzslees rtmuneration and eApeyJses No trnstees. rthor any persons COnn￿ted wth them, h&vc rcccivcd any remuneration from thc charity during the year. No trustees hav¢ received any reimbuTs¢d ¢xp¢nses from the charity during the year. I I Staff ¢osts The aggrcgate p&yroll costs wcre as follows: 202S 2024 Staff costs during the year were: Wagcs and salaries Social securicy costs Pcnsion costs Other staff costs 135,749 4,092 3.557 1,216 130,393 3,923 3,515 1,269 144,614 139,100 The monthly Rverage number of persons (including scnior managem¢nt kn) employed by the charity during the year was as follows= 2025 2024 Support service5 ManaEement and administr8tion 6 (2024 - 6) of the above employees participalcd in the Defined Contributivn Pension Schcmes. Contributions to the employee pension schemes for thc ye2r lota]led £3,557 (2024- £3.515)- No employee received emolum¢nts of morc than £60,000 during thc ycar. Thc tot2] employcc bencfits of thc key management personnel of the charity were £40549 (2024- £39,757). 12 TaAation The charity 15 a r¢gistered charity and is therefore exempt from taxation. Page 19 Multiple Sclerosis Therapy Centre South West Limited Notes to the Financial Statements for the Year Ended 31 March 2025 IJ Tangible fixed 8s5ets Land and buildiDg5 Offiee equipment Computer equipment Plant & machinery Chamber & equrpment Motor vehicle5 Total Cost At l April 2024 Additions Di5POs&15 628,124 12.573 8,995 10.453 1.057 1198) 46.703 179 3.5001 161,300 13,196 868,148 14,432 (640,817) 628.124) 8,995) At 31 March 2025 12,573 43.382 174,496 241,763 Depreetation At l April 2024 Charge for the year Eliminated on disposals 100,343 9,621 443 7,794 7,719 551 77 34,853 3.002 94,486 8,001 254,816 1,997 111,6941 IVO,3431 7.7941 At 31 March 2025 10.064 8,193 34.375 102.487 155.119 Net book valut At 31 March 2025 2.509 3.119 9,007 72,009 86.644 Al 31 March 2024 527781 1.201 2.734 11.850 613.332 The directors consider that the Cost ot land disposed ol-within land and buildings above is £150,000 out of a purchose price of £260.000. Page 20 Multiple Sclerosis Therapy Centre Soutb West Limited Notes to tbe Fin2Dcial Statements for the Year Ended 31 Mareh 2025 14 Fised Jsset inve5tm¢nts Othtr IDvtstmen¢$ Llst¢d Investments Total Market value At l April 2024 DisNsals Net 8aind(10&8ts) on invc5tments At 31 March 2025 243.148 (42.742) 1.031 243.148 {42,7421 1.031 201,437 201.437 There were no inv