Company registration number 05105344 (England and Wales)
MULTIPLE SCLEROSIS TRUST (EDUCATION) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
MULTIPLE SCLEROSIS TRUST (EDUCATION) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3 - 5
MULTIPLE SCLEROSIS TRUST (EDUCATION) LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
496
12,051
Cash at bank and in hand
185,360
72,356
185,856
84,407
Creditors: amounts falling due within one year
5
(77,551)
(79,123)
Net current assets
108,305
5,284
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
108,304
5,283
Total equity
108,305
5,284

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 12 December 2024 and are signed on its behalf by:
Mrs C Sorrell
Director
Company Registration No. 05105344
MULTIPLE SCLEROSIS TRUST (EDUCATION) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2022
1
96,231
96,232
Year ended 31 July 2023:
Profit and total comprehensive income for the year
-
4,938
4,938
Distributions to parent charity under gift aid
-
(95,886)
(95,886)
Balance at 31 July 2023
1
5,283
5,284
Year ended 31 July 2024:
Profit and total comprehensive income for the year
-
107,959
107,959
Distributions to parent charity under gift aid
-
(4,938)
(4,938)
Balance at 31 July 2024
1
108,304
108,305
MULTIPLE SCLEROSIS TRUST (EDUCATION) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Multiple Sclerosis Trust (Education) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Spirella Building, Bridge Road, Letchworth, Hertfordshire, United Kingdom, SG6 4ET.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents net invoiced sales of goods, exclusive of VAT.

 

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

MULTIPLE SCLEROSIS TRUST (EDUCATION) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

No emoluments are paid to any director.

2024
2023
Number
Number
Total
-
0
-
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
10,691
Other debtors
496
1,360
496
12,051
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
400
2,219
Other creditors
77,151
76,904
77,551
79,123
6
Related party transactions

There are no related party transactions to disclose for 2024 (2023 - none).

 

The company has taken advantage of the exemptions not to disclose any transactions with its parent undertaking conferred by FRS 102 on the grounds that the company's results are included in the consolidated results of the parent undertaking.

MULTIPLE SCLEROSIS TRUST (EDUCATION) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
7
Parent company

The company's ultimate parent undertaking and controlling party is Multiple Sclerosis Trust, a registered charity (number 1088353) and company limited by guarantee (number 04247766). Copies of the consolidated financial statements are available from Companies House and the Charity Commission.

 

The company gift aids available profits to its parent undertaking.

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