The MS Therapy Centre (Oxford) Limited Trustees. Annual Report and Financial Statements Year ended 31 December 2023 Registered Charity no: 900278 Company no: 2318549 Tha MS Thera Centr• Oxford Llmited Re rt and Flnancial statements for the ear ended 31 December 2023 Index: Page Company infomiation Trustees, annual report Independent Examinerfs report statement of financial activities Balance sheet Notes to the financial ststements 8-11 The MS Thera Centre Com an infomiation Oxford Limited Page I Trustees A Gower {Chaimian) D Webb (Treasurer) M Hemingway ( Secretary ) T Ball A Davies JDay G Fewings G McLaughlin Resigned 8th June 2023 M Walker Sue Doran - Centre Manager Company registratlon number: 2318549 Registered Office 37E Innovation Drive Milton Park Abingdon Oxfordshire OX14 4RT Registered charity number". 900278 The MS Thera Centre Oxford Limited The re ort of the Trustees. for th8 ear endod 31 Decembor 2023 Page 2 The Trustees present their annual report and accounts for the year ended 31 December 2023. The full name of the chanty is The MS Therapy Centre (Oxford) Limtted. The legal registration detsils are= Date of incorporation= 17 November 1988 Company Registration Number.. 2318549 The Registered Office: 37E Innovation Drtve, Mitton Park, Abingdon, Oxfordshire. OX14 4RT Structure, Govemance and Management Goveming document The Charity is controlled by ils goveming documént, a Deed of Trust, and constitutes a Limited Company, Limited by Guarantee. Recruitment and appointment of new Trustees Trustees are appointed by the members at the Annual General Meeting. The Centre Manager updates infomiation with the Chatty Commission. Related Parties The MS Therapy Centre (Oxford} Limited is a company and a registered charity on its own. The Therapy Centre is affiliated to the Neuro Therapy Network. Charity no.. 1031690. There are more than 60 centres throughout Ihe UK. Rlsk Management The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurancé against fraud and error. Risks are monitored continualty and actions taken to mitigate them. Public Benefit The Trustees have complied with their dity to have due regard to the guidan￿ on public benefft published by the Charity Commission in exercising their powers or dulles. The MS Thera Centre Oxford Limited The re rt of the Trustees. for the ear onded 31 December 2023 Page 3 continued Objectives and aims The objectives for which the Company is founded are to aid and improve the conditions of those suffering from Muttiple Sclerosis in Oxfordshire and n6ighbourtng counties. Volunteers The Charity has one part-time paid member of staff {Centre Manager). All other personnel induding Trustees are volunteers. Principal funding sourcos The MS Therapy Centre {Oxford) Limited is funded solely by voluntary contributions,fundraising events and occasionaly supplemented by grants. The Centre is largely dependent on donalions and fundraising and the Commtiee is continually reviewing ways and tsking various steps to maintsin this Sour￿ of income. The Committee will continue to seek further grovl(h in income to expand the Centre's artivities. Reserrfes pollcy The policy of the Charity is to hold a minimum of £15,000 in a secure account and in accordance with the resolution of the Management Committee. to use such accumulated assets for the development and improvement of the Therapy Centre. The MS Thera Centre Oxford Limited The re ort of the Trustees. for the ear ended 31 December 2023 Poge 4 continued Statement of Dlre¢tors' and Trustees. responsibilities Charity Law and the Companies Acts require the Board of directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit for the year then ended. In preparing the financial slatements. the Board of directors are required to.. 1. select suitable accounting policies and apply them consistentty-, make judgements and estimates that are reasonable and prudent., 3. follow applicable UK Accounting Standards, Ihe statement of recommended practice for accounting and reporting issued by the Charity Commissioners of England and Wales., 4. prepare the financial statements on a going concern basis. The direclors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable it to ensure that the financial statements comply with the Companies Act 2006 and the accounting requirements under Charity legislation. They are also responsible for gafeguarding the assets of the company and hence for taking reasonable steps for the prevention and deteclion of fraLIA Anri nth_p.r irrpniil?ritiAo These accounts have been prepared in aG￿rdance wilh the provisions applicable to companies subject lo the small companies regime. This report was approved by the Board of D1￿CtOrS and Trustees on .2024 Andrew Gower Director and Trustee Dave Webb Director and Trustee The MS Thera Centre Oxford Limited Inde endent examinerfs re ort to the Trustees Year ended 31 December 2023 Page 5 I report on the financial ststgments of the company which are set out on pages 6 to 11. Respective responslbilities of Trustees and Examlner The trustees (who are also the directors of the company for the purposés of company law} are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(21 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility io: a) examine the accounts under seclion 145 of the 2011 Act-. b) follow procedures laid down in the general Direclions given by the Charity Commission under section 145{5){b) of the 2011 Act., and c) to state whether particular matters have come to my attention. Basis of independent examlnerfs report My examination was carried out in accordan￿ with the general Direclions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charty and a comparison of Ihe accounts presenled from those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as truslees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'lrue and fair vievl, and Ihe report is limited to those matters set out in the statement below. Independent examinefs statement In connection with my examination, no matter has come to my attention: i which give me reasonable cause to believe that in any material respecl the requirements.. a) to keep accounting records in accordance wrth section 386 of the Companies Act 2006., and b) to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charities have not been met; or 2 to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. David Bowman FCA 40 Hurdeswell Long Hanborough Witney OX29 8DH Date: The MS Thera Centre Oxford Statement of Financial Activities Year ended 31 December 2023 Limited Page 6 Unrestricted Funds 2023 Restricted Funds 2023 Total Funds 2023 Nole Income from Don81ions other trading activilies Investments Total income 56,395 10,553 281 67,229 56.395 10.553 281 67,229 Expenditure on Raising funds Charitable activilies Total expendltu 1,899 61.387 63,286 1,899 61,387 63,286 Net income Transfers between funds Net movement in funds 3,943 3,943 3,943 3,943 Reconciliatlon of funds Totsl funds brought forward 29,352 29,352 Total funds carried forward 33,295 33,295 Unrestricted Funds 2022 Restricted Funds 2022 Total Funds 2022 Note Income from Donations Other trading activities Investments Total In¢orne 52,204 7,832 62 60,098 52,204 7,832 62 60,098 Expenditure on Raising funds Charitable activities Total expendlture 1,633 58,586 60,219 1,633 58,586 60,219 Net income Transfers between funds Net movement In funds -121 -121 -121 -121 Recon¢Tliation of funds Totsl funds brought fonvard 29,473 29,473 Total funds oarrled forward 29,352 29.352 The Statement of Financ¢al Activities includes all gains and losses recognised during the year. All activities are dertved from continuing operations. The MS Thera Balance sheet As at 31 December 2023 Centre Oxford Limited Page 7 Company no.- 2318549 The assets and liabilities of the charity.. 2023 2022 Note Flxed assets Tangible fixed assels Total fixed assets Current assets Debtors Cash at bank and in hand 10 6.113 32,865 38,978 4.887 27,813 32,700 Credttors: amounts falling due Withln one year -5,683 -3.348 Net current assets 33,295 29,352 Total assets less Current liabilities 33,295 29,352 The funds of the charity.. Unrestricted funds Restricted funds 12 12 33,295 29,352 Total charlty funds 33,295 29,352 The members have not required the company to obtain an audit of its accounls for the year ended in question in accordance wilh section 476 of the Companies Act 2006. The accounts have been prepared in ac￿rdanCe with the special provisions relating to small companies under s477 of Companies Act 2006. The directors acknowledge their responsibililies for complying with Ihe requirements of the Act with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance wilh the provisions applicable to companies subjeci to the small companies regime and in accordan￿ with the Financial Reporting Standard of Smaller Entities {2008). The financial statements were approved by the Board on ￿1.71.2024 and are signed on its behalf by.. Andrew Gower Director and Trustee Dave Webb Director and Trusle Tho MS Thera Centrg Oxford Notes to the flnancial statements Year ended 31 December 2023 Limitod Page 8 1. Accountlng pollcles Basis of preparation of the accounts The charity constitutes a public benefrt entity as deflned by FRS 102. The financial statements have been prepared in accordance with Accounting Reporting by Charities.. Statemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 102) issued on 16 July 2014 as read with the Update Bulletin entitled 'Charities SORP FRS 102 Update Bulletin,, published by the Chartered Institute of Public Finance and Accountancy, London, in 2016, the Financial Reporting Slandard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepied Practice as it applies from 1 January 2016. The financial statements are prepared on a going con¢em basis under the histori¢ cost convention modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currenGy of the charity. The significant accounting policies applied in the preparation of the financlal statements are sel oul below. These policies have been consislentty applied to all years presented unless otherwise stated. Aecounting convention The financial statements have been prepared on a going con￿rn basis, under the historical cost convention. Income Donations and similar income are included in the financial statements on a receivable basis. Expenditure All expenditure is included on an accrual basis and is recognised when there is a legal or constructive obligation to do so. Charitable activities Charitable activities include expenditure associated with improving the condttions of those suffering Multiple Sclerosis and other conditions. Governance costs Govemance costs include those incurred in the governance of the charity and its assets and are primarity associated with constitutional and statulory requirements. Fixed assets and depreciation All langible fixed assets are stated at cost less deprecialion. Depreciation has been provided at the following rates in order to write off the assets {less their estimated residual value) over their estimated useful economic lives. Str8ight line Portakabin & its frttings Plant equipment Computer equipment over 8 years over 3 years over 2 years i lie MS Thera Centre Oxford Notes to the financial statements Year ended 31 December 2023 Limited continued Page 9 Taxation The charity is exempt from corporation tax on its charitable activities. Funds structure policy The charity maintains 8 general ur7reslricted fund which represents funds which are expendable at the discretion of the Trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working and capital investment. Restricted funds are funds that can only be used for particular restricted purposes. Restrictions arise when specified by the donor or when funds are raised for a particular purpose. 2. Surplusl(Deflcltl of the year This is arrived at after ¢redtting-. Revenue tumover from ordinary activilies 2023 2022 56,395 52,204 and after charging.. Depreciation of fixed assets 81 3. Trustees, remuneratlon and beneflts The Trustees received no remuneration or other benefits for the year ended 31 December 2023{ 2022.. nil). There were no Trustees, expenses paid for the year ended 31 December 202312022: nil}. The directors are defined as the Trustees. 4. Employee infomlatlon The charity has one paid employee, the Centre manager {2022.' 1 }- 5. Investment Income 2023 2022 Bank deposit interest 281 62 The MS Thera Centre Oxford Notes to the financial statements Year ended 31 December 2023 Limited continued Page 10 6. Voluntary income Unrestricted 2023 Restricted 2023 Totsl 2023 2022 Centre donations Donations Gift Aid Subscriptions Miscellaneous income Total income 42,375 4,119 8,063 1,838 42,375 4,119 8,063 1,838 35,696 6,248 7,290 2,970 56,395 56,395 52.204 7. Analysis of costs of charltable activities 2023 2022 Direct support costs Massage Osteopathy Physiotherapy Chiropody Acupuncture 16,705 5,105 1,106 1,472 1,040 25,428 14,559 4,715 2,467 1.447 727 23,915 other support costs Wages, social securty and pension costs Electricily and water Running costs and equipment Oxygen supplies Cleaning Depreciation Insurance Legal Telephone and communications Building & Equipmenl Maintenance Sundries 18,820 2,378 768 8,526 1,117 19,120 1,652 502 9,105 1.465 1.135 500 1.752 755 95 35,846 890 1,410 362 52 34,558 Governance Costs Federation membership Accountancy 10Q 100 113 113 Total costs of charltable activities 61,387 58,586 8. Taxation The MS Therapy Centre (Oxford) Limited is a registered charity, and is, thereforè exempt from liabilty to laxation on its income and capttal gaifts. Tho MS Thera Centr8 Oxford Notes to the financial statements Year ènded 31 December 2023 Limited continued Page 11 9. Tangible fixed assets Portakabins & fittings Plant & Computer equip't Total Cost At 1 January 2023 Additions Disposals At 31 December 2023 43,032 28,290 71,322 2,520 25,770 2,520 68,802 43.032 Accumulated depreciation At 1 January 2023 Charge for the year Disposals At 31 December 2023 43,032 28,290 71,322 2,520 25,770 2,520 68,802 43,032 Net book value At 310ecember 2022 At 31 DeCeM￿r 2023 10. Debtors: amounts falling due wlthln one year 2023 2022 Trade debtors Other debtors 6,113 6,113 4,887 4,887 11. Creditors: amounts falling due within one year 2023 2022 Trade creditors Other creditors Accrued expenses 990 4,693 5,683 637 2,711 3,348 12. Analygls of net movements In funds Restricted Unrestricted Bal8nce at 1 January 2023 Incoming resources Outgoing resources Transfer to unrestricted funds Transfer trom restriGted funds Balance at 31 December 2023 29,352 67,229 -63,286 33,295 13. Contingent liabilitles There are no conlingent liabilities at the year ended 31 December 2023. (2022= nil). 14. Related party transactions Donations from trustees were £5,633 . (2022.. £5,043).