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REGISTERED COMPANY NUMBER: SC120296 (Scotland)
REGISTERED CHARITY NUMBER: 008262














Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Orkney Multiple Sclerosis Therapy Centre
Ltd

Orkney Multiple Sclerosis Therapy Centre
Ltd






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5

Notes to the Financial Statements 6 to 9

Orkney Multiple Sclerosis Therapy Centre
Ltd (Registered number: SC120296)

Report of the Trustees
for the year ended 31 December 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and Activities
The company's objective is to aid and improve for the public benefit in Orkney the condition of those suffering from Multiple Sclerosis. Fund raising is the company's principal activity which enables the company to provide Multiple Sclerosis sufferers with therapy, guidance, moral and practical support.

ACHIEVEMENT AND PERFORMANCE
Achievements, Performance & Financial Review
In the 2022 year, the charity was very fortunate to receive a substantial donation of £27,184 from the spectacular Christmas Tractor Run, which boosted funds for that year.

The company has enjoyed continued support from organisations and individuals over the year to help fund its core activities.

FINANCIAL REVIEW
Investment Policy
Surplus funds are invested in interest bearing bonds and accounts to cover any future contingencies and to guarantee the continuation of the centre.

Reserves Policy
Surplus funds are held in bank accounts. Surplus funds of £250,387 are currently held, including the legacy funds.

No decision has yet been taken on any designation of the legacy funding but all funds are unrestricted.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of trustees
As set out in the Articles of Association, the trustees are annually appointed or re-appointed by the members of the charitable company attending the Annual General Meeting.

Any person who has Multiple Sclerosis or anyone who is interested in and wishes to promote the objects of the company is eligible to become a member of the company.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC120296 (Scotland)

Registered Charity number
008262

Registered office
4 Broad Street
Kirkwall
Orkney
KW15 1NX


Orkney Multiple Sclerosis Therapy Centre
Ltd (Registered number: SC120296)

Report of the Trustees
for the year ended 31 December 2023

Trustees
P L Tulloch
B Mainland
S Miller
W E Norquay
J T Reid
D K Macrae (resigned 12.1.24)

Company Secretary
S Miller

Independent Examiner
Charles W Flett
Foubister & Bain
4 Broad Street
Kirkwall
Orkney
KW15 1NX

Approved by order of the board of trustees on 30 January 2024 and signed on its behalf by:





W E Norquay - Trustee

Independent Examiner's Report to the Trustees of
Orkney Multiple Sclerosis Therapy Centre
Ltd

I report on the accounts for the year ended 31 December 2023 set out on pages four to nine.

Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement
In connection with my examination, no matter has come to my attention :

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

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.








Charles W Flett
The Institute of Chartered Accountants of Scotland

Foubister & Bain
4 Broad Street
Kirkwall
Orkney
KW15 1NX

30 January 2024

Orkney Multiple Sclerosis Therapy Centre
Ltd

Statement of Financial Activities
for the year ended 31 December 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 3,500 9,927

Other trading activities 2 1,748 29,045
Investment income 3 2,298 674
Total 7,546 39,646

EXPENDITURE ON
Charitable activities
Other Trading Activities 4,395 4,363

NET INCOME 3,151 35,283


RECONCILIATION OF FUNDS
Total funds brought forward 247,236 211,953

TOTAL FUNDS CARRIED FORWARD 250,387 247,236

Orkney Multiple Sclerosis Therapy Centre
Ltd (Registered number: SC120296)

Balance Sheet
31 December 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
CURRENT ASSETS
Cash at bank and in hand 250,387 247,236

NET CURRENT ASSETS 250,387 247,236

TOTAL ASSETS LESS CURRENT
LIABILITIES

250,387

247,236

NET ASSETS 250,387 247,236
FUNDS 6
Unrestricted funds 250,387 247,236
TOTAL FUNDS 250,387 247,236

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 30 January 2024 and were signed on its behalf by:





W E Norquay - Trustee

Orkney Multiple Sclerosis Therapy Centre
Ltd

Notes to the Financial Statements
for the year ended 31 December 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. OTHER TRADING ACTIVITIES
2023 2022
£    £   
Christmas Tractor Run - 27,214
Collecting Tins 1,417 1,646
Other Fundraising Events 331 185
1,748 29,045


Orkney Multiple Sclerosis Therapy Centre
Ltd

Notes to the Financial Statements - continued
for the year ended 31 December 2023

3. INVESTMENT INCOME
2023 2022
£    £   
Deposit account interest 2,298 674

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.


5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 9,927

Other trading activities 29,045
Investment income 674
Total 39,646

EXPENDITURE ON
Charitable activities
Other Trading Activities 4,363

NET INCOME 35,283


RECONCILIATION OF FUNDS
Total funds brought forward 211,953

TOTAL FUNDS CARRIED FORWARD 247,236


Orkney Multiple Sclerosis Therapy Centre
Ltd

Notes to the Financial Statements - continued
for the year ended 31 December 2023

6. MOVEMENT IN FUNDS
Net
movement At
At 1.1.23 in funds 31.12.23
£    £    £   
Unrestricted funds
General fund 247,236 3,151 250,387

TOTAL FUNDS 247,236 3,151 250,387

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 7,546 (4,395 ) 3,151

TOTAL FUNDS 7,546 (4,395 ) 3,151


Comparatives for movement in funds

Net
movement At
At 1.1.22 in funds 31.12.22
£    £    £   
Unrestricted funds
General fund 211,953 35,283 247,236

TOTAL FUNDS 211,953 35,283 247,236

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 39,646 (4,363 ) 35,283

TOTAL FUNDS 39,646 (4,363 ) 35,283

Orkney Multiple Sclerosis Therapy Centre
Ltd

Notes to the Financial Statements - continued
for the year ended 31 December 2023

6. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.1.22 in funds 31.12.23
£    £    £   
Unrestricted funds
General fund 211,953 38,434 250,387

TOTAL FUNDS 211,953 38,434 250,387

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 47,192 (8,758 ) 38,434

TOTAL FUNDS 47,192 (8,758 ) 38,434

7. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.