TRANSFORM MS CIC

Company limited by guarantee

Company Registration Number:
12349146 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

TRANSFORM MS CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

TRANSFORM MS CIC

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 8,925 58,240
Cash at bank and in hand: 255,804 62,179
Total current assets: 264,729 120,419
Creditors: amounts falling due within one year: 4 ( 208,819 ) ( 108,337 )
Net current assets (liabilities): 55,910 12,082
Total assets less current liabilities: 55,910 12,082
Total net assets (liabilities): 55,910 12,082
Members' funds
Profit and loss account: 55,910 12,082
Total members' funds: 55,910 12,082

The notes form part of these financial statements

TRANSFORM MS CIC

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 13 September 2024
and signed on behalf of the board by:

Name: Jerry Clough
Status: Director

The notes form part of these financial statements

TRANSFORM MS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Other accounting policies

    Summary of significant accounting policies and key accounting estimates. The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime). Foreign currency transactions and balances Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated. Tax The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Defined contribution pension obligation A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

TRANSFORM MS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 5 5

TRANSFORM MS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Debtors

2023 2022
£ £
Trade debtors 5,794 56,966
Prepayments and accrued income 2,173 1,274
Other debtors 958
Total 8,925 58,240

TRANSFORM MS CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 11,774 32,014
Taxation and social security 12,477 2,605
Accruals and deferred income 184,568 73,718
Total 208,819 108,337

COMMUNITY INTEREST ANNUAL REPORT

TRANSFORM MS CIC

Company Number: 12349146 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

MS Service Development: In 2023 Transform MS CIC has been instrumental in the development and growth of an initiative called Transforming MS for all (TMSFA). TMSFA is an MS clinical community-led initiative seeking to improve clinical services, and related activities, supporting people with MS. It has been developed to solve challenges represented by 70 clinical centres across the whole UK and to develop ongoing consensus within the community around priority projects. Transform MS CIC hosts this initiative, providing support and the infrastructure needed to apply for and manage grants and deliver projects. Highlights for 2023 include. Launch of the TMSFA website (https://transformingmsforall.org/) which hosts resources and useful information for the MS community. Delivery of the TMSFA summit meeting: a national meeting for the TMSFA community held at the Kings Fund London with circa 80 people in attendance. Securing in excess of £100k of funding through application for, and management of grants, from commercial pharmaceutical companies to support the delivery of the programme of work linked to TMSFA priority projects. Transform MS CIC have also continued to support the development of the local South West MS network directly. We have continued to use our resources and contacts to raise funds to support a monthly Regional MS Clinical meeting that has improved accuracy of diagnosis and treatment decision making for people with MS across Devon and Cornwall. We also supported the commencement of a programme of webinars linked to a website and research community developed in partnership with the South West Peninsula Clinical Research Network. (https://sites.google.com/nihr.ac.uk/swp-ms-network/home). The first webinar was hosted on 21 November 2023 and had an audience of over 130 people. (https://sites.google.com/nihr.ac.uk/swp-ms-network/podcasts-and-events/webinar-multiple-sclerosis-research-in-focus) Community Benefits: Establishment of community, infrastructure and leverage of funding to support MS community projects focus on improving care and developing clinical services across the UK and locally. Promoting research and new information about MS research to a broader community to benefit people with MS and encourage development of a research focussed community. Measurement Consultancy: Transform MS continues to support projects to advance the understanding and quality of the measurement of health, primarily in the context of clinical research. Improved quality of measurement (our focus is on Patient Reported Outcome measures) helps support the collection of evidence required to develop and approve new treatments. The projects have seen the development and piloting of a new measure of Upper Limb Function in people with MS and projects to understand the impact of fatigue in people with MS and the suitability of measures intended to measure it. The learnings and opportunities from this work has been shared at various MS meetings and/or in academic publications. Community Benefits: Our goal is increased awareness of the value of high-quality measurement, developing knowledge and understanding of novel, modern approaches to data analysis in clinical studies. New insights and tools to support measurement of key symptom impacts in MS are required to improve effectiveness of clinical research. Scales Licensing: Transform MS commenced licensing activity of Patient Reported Outcome measures in 2023. These tools are used to provide important information on disease progression in people with Neurological Conditions. This information helps inform clinical trials of new treatments and clinical monitoring for targeting care. In 2023 Transform MS provided 8 licenses for large scale clinical trials of new treatments/interventions. In addition to commercial licensing Transform MS has also implemented a policy where projects which wish to use the outcome measures but are being delivered using public/rather than commercial funding either get a free license or a significant discount. In 2023 there were 3 licenses for clinical or academic projects issued on this basis. Community Benefits: Transform MS, through its licensing of Patient Reported Outcome measures, directly contributes to the advancement of knowledge relating to MS and the impact of treatments and interventions. MS Education and Research: Our team, including honorary staff members, have been involved in activities that help advance knowledge specific to MS clinical care. This includes participation in seminars/on-line meetings both in the UK and internationally, to talk about clinical services and research. At a local level, we have also supported delivery of a module focussed on MS care at the University of Plymouth and support a student project researching the impact on COVID-19 on the diagnosis and treatment of people with MS. Community Benefits: Helping advance the knowledge of people within the medical community on the latest developments and practices in MS care and research. Medical Reports: Provision of over 50 medical reports/documentation to support people with MS. Community Benefits: These reports provide important information for people with MS to evidence the impact of their MS and so represents a direct community benefit. Community Events/Centres: Transform MS has developed stronger relationships with the local MS society groups and two regional MS Centres. These groups have committed to promoting activities that Transform MS supports, through social media and newsletters, as well as contributing to projects. Transform MS also supported these organisations in the delivery of their activities through advice and guidance and financial support. This includes providing 50% of the funding to support the South Devon MS Society’s first face to face meeting since COVID. Community Benefits: Helping develop and support the local MS community through events and dissemination of information of value to people with MS in our local community.

Consultation with stakeholders

The primary community stakeholders for Transform MS CIC are people with MS and the clinical teams that support them. In our broader stakeholder network we work with Pharmaceutical companies and research teams that are focussed on research linked to MS and Measurement Science in healthcare. In the activities of Transform MS CIC, listed in the previous section, people with MS and the MS clinical teams are directly involved in many of them and as a result directly inform the delivery of our projects and activities. The TMSFA initiative – was launched following interviews with over 70 MS clinical centres. Following this, a report was produced that was endorsed by those centres that proposed the development of Transforming MS for all to help address some of these challenges. In 2023 a national meeting was held in London, attended by circa 80 people from all four home nations of the UK. This meeting decided on the focus for the TMSFA initiative for the year ahead. The TMSFA website also hosts a discussion forum where ideas and suggestions are received for the focus of future projects. The Research website referenced was designed by community input – people with MS, clinicians and researchers. It has a section which encourages the community to highlight areas that would benefit from research. Additionally at the webinar referenced in the previous section people were asked to submit questions that were important for them in terms of MS research. The webinar then covered these areas with any not addressed responded to in a post event document. During collaborative work to support the Regional MS Clinical meeting and efforts to develop the South West MS research community Transform MS has worked closely with the 5 NHS hospital trusts in Devon and Cornwall, their MS Consultants and Specialist Nurses as well as the Health Innovation South West. These groups form part of the clinical community that are an important partner in delivering service improvements that benefit future outcomes for people with MS. As outlined above, at this stage of its development, community consultation has remained largely at the project level. As the company grows further in 2024 it is developing its partnership and engagement model and within this will seek to identify additional ways to deliver its social purpose and as part of that increased formal consultation with community partners will take place.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
13 September 2024

And signed on behalf of the board by:
Name: Jerry Clough
Status: Director