REGISTERED COMPANY NUMBER: 10711932 (England and Wales)

REGISTERED CHARITY NUMBER: 1173724

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Arthros Limited

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Statement of Financial Position

6

to

7

Notes to the Financial Statements

8

to

12

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 March 2025. 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 aims

The principal objective of the charity is to provide relief of sickness amongst Sufferers from arthritis and other related diseases ("the Sufferer") within a radius of twenty five miles from St. Mary's Church, the Butts, Reading. During the year the trustees reviewed their aim and decided to concentrate in future on Reading and the Greater Reading area.

The objectives have hitherto been achieved by securing nomination rights on flats adapted for the use of people who have been disabled by arthritis and by the purchase and adaptation of homes suited to the needs of Sufferers who have dependants, entering into joint ownership schemes where this is deemed necessary.

Secondly, grants have been made for small building works to adapt existing homes for use by Sufferers who need minor schemes, to purchase specialist beds, chairs or other equipment intended to relieve suffering from arthritis and to support a group providing exercises designed to enable Sufferers to maintain their independence. Grants have also been made to Sufferers to assist with the costs of temporary nursing care accommodation and physiotherapy treatments.

Thirdly, we seek to secure the best help for Sufferers in the Reading Area from local health agencies, Social Services and other public bodies and to pursue complaints on their behalf, if these appear to us to be justified.

Significant activities, achievement and performance

Additional advances to investment properties of £10,944 were made during the year (2024: £14,592). The trustees decided to make no further advances after 1 January 2025 and to change their arrangements with the tenants to allow them to continue to live in these properties on revised terms.

Small grants were made as recommended by a subcommittee of Trustees.

The trustees are preparing to launch a website to publicise help and advice available in the Reading area. They are also preparing a new grants questionnaire to be used through the website.

Public benefit

The trustees declare that they have complied with the duty imposed under the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

Grants

During the year, the Trustees received enquiries for help and have made grants of £556 in the year (2024: £6,329).

Applications are initially investigated by a subcommittee of Trustees which pursues enquiries and pays smaller grants and recommends those in excess of £2,000 to the board of Trustees.

£477 was spent on repairs, modifications and maintenance of properties in the year (2024: £814).

FINANCIAL REVIEW

Financial position

Funds held at the year end totalled £1,638,277 (2024: £1,660,589).

The Trustees have hitherto not actively sought to promote income generation as they regard their primary duty to be to use the funds already donated to them.

With help from Reading Voluntary Action, Engagement Solutions were appointed to assist the trustees by recruiting more trustees and working out how better to help those affected by Arthritis in the Reading Area.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Going concern

At the time of signing these accounts, the trustees do not believe that there are any material uncertainties related to events or conditions that cast significant doubt upon the charity's ability to continue as a going concern.

Principle risks and uncertainties

The Trustees have considered the risks facing the charity and believe that they have in hand the right policies and people to protect the assets for which they are responsible.

Redmayne Bentley LLP continues to manage the portfolio of investments. The investment policy is to invest funds in medium to low risk ventures to generate enough funds for the charity to continue with its objectives without drawing on the capital.

Maintaining effective links with the people we are set up to help, requires the appointment of further younger Trustees and this we continue to pursue.

FUTURE PLANS

The Trustees will continue to support Sufferers in accordance with the charity's objectives.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, the memorandum and articles, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Trustees are appointed by invitation. The charity is currently looking for new trustees with interpersonal skills, as well as knowledge of Arthritis and ways to provide relief to Sufferers.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

10711932 (England and Wales)

Registered Charity number

1173724

Registered office

c/o RISC

35-39 London Street

Reading

Berkshire

RG1 4PS

Trustees

R C H Morton Retired Accountant

M Ray-Smith Retired Accountant

Dr A Bradlow Retired

Mrs C Woolmer Retired Health Visitor

Ms S J Berry Accountant (appointed 9.11.24)

Miss G N A Espino Product Manager (appointed 9.11.24)

D N Peter Christian Director (appointed 9.11.24)

Mrs Y Wind-Vorozhtsova (appointed 8.4.25)

Ms P E Vella Director (appointed 28.3.25)

Independent Examiner

Susan Ambrose FCCA FCA

Butt Miller

Chartered Accountants

1 Minster Court

Tuscam Way

Camberley

Surrey

GU15 3YY

FUNDS HELD AS CUSTODIAN FOR OTHERS

We hold no such funds.

Approved by order of the board of trustees on 5 September 2025 and signed on its behalf by:

M Ray-Smith - Trustee

Independent examiner's report to the trustees of Arthros Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Susan Ambrose FCCA FCA

Butt Miller

Chartered Accountants

1 Minster Court

Tuscam Way

Camberley

Surrey

GU15 3YY

5 September 2025

31.3.25

31.3.24

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

605

-

Investment income

2

42,578

39,697

Total

43,183

39,697

EXPENDITURE ON

Raising funds

3

6,487

6,978

Charitable activities

Grants

556

6,329

Other

5

44,793

4,818

Total

51,836

18,125

Net gains/(losses) on investments

(13,647

)

(3,782

)

NET INCOME/(EXPENDITURE)

(22,300

)

17,790

RECONCILIATION OF FUNDS

Total funds brought forward

1,660,589

1,642,799

TOTAL FUNDS CARRIED FORWARD

1,638,289

1,660,589

31.3.25

31.3.24

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Investments

Investments

8

987,514

1,036,640

Investment property

9

593,192

582,248

1,580,706

1,618,888

CURRENT ASSETS

Prepayments and accrued income

4,012

2,974

Cash at bank

58,894

43,376

62,906

46,350

CREDITORS

Amounts falling due within one year

10

(5,323

)

(4,649

)

NET CURRENT ASSETS

57,583

41,701

TOTAL ASSETS LESS CURRENT LIABILITIES

1,638,289

1,660,589

NET ASSETS

1,638,289

1,660,589

FUNDS

11

Unrestricted funds

1,638,289

1,660,589

TOTAL FUNDS

1,638,289

1,660,589

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 5 September 2025 and were signed on its behalf by:

M Ray-Smith - Trustee

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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Arthros Limited is a private limited company, limited by guarantee, and registered in England and Wales. The address of the registered office is set out in the Trustees report.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Donations - donations are only included in the Statement of Financial Activities when the charity has unconditional entitlement to the resources.

Investment income - this is included in the accounts when receivable.

Rental income - this is recognised over the period of the rental.

Investment gains and losses - this includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

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 costs 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.

Other costs - these include costs of the preparation and examination of statutory accounts, the costs of Trustee meetings and the cost of any legal advice to Trustees in governance or constitutional matters.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Investment property

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

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.

Fixed asset investments

Listed investments are included at closing market value at the year end date. Any gain or loss during the year is taken to the Statement of Financial Activities.

2.	INVESTMENT INCOME

31.3.25

31.3.24

£

£

Rents received

120

120

Dividends

41,347

38,621

Deposit account interest

1,111

956

42,578

39,697

3.	RAISING FUNDS

Investment management costs

31.3.25

31.3.24

£

£

Portfolio management

6,010

6,164

Property repairs and maintenance

477

814

6,487

6,978

4.	GRANTS PAYABLE

Grants were made to individuals to purchase or maintain specialist equipment intended to relieve suffering from arthritis.

5.

OTHER

Other expenditure includes the Independent Examiner's fee £3,740 (2024: £3,465).

Engagement Solutions, independent consultants, were appointed to help recruit additional trustees and review policies at a cost of £31,520 in fees and £2,603 in expenses. Costs of £700 were incurred for help in designing a new website (2024: £Nil) along with £213 for Trustees' insurance (2024: £Nil).

6.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

Reimbursements totalling £1,960 (2024: £6,344) were paid to four trustees during the period. These covered travel , insurance, stationery and postage items paid for personally. One grant was made to a trustee for £206.

7.

EMPLOYEES

The average number of employees during the year was NIL (2024 - NIL).

8.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1 April 2024

1,036,640

Additions

70,673

Disposals

(81,355

)

Revaluations

(8,444

)

Withdrawal from portfolio

(30,000

)

At 31 March 2025

987,514

NET BOOK VALUE

At 31 March 2025

987,514

At 31 March 2024

1,036,640

The year end value above includes £15,316 (2024: £45,146) held as cash in a deposit account.

There were no investment assets outside the UK.

9.	INVESTMENT PROPERTY

£

FAIR VALUE

At 1 April 2024

582,248

Additions

10,944

At 31 March 2025

593,192

NET BOOK VALUE

At 31 March 2025

593,192

At 31 March 2024

582,248

Investment properties represent the charity's investment in joint ownership schemes with Sufferers and their families. Additions during the year relate to interest free advances paid to the homeowners, to be reimbursed when the property is eventually sold. No advances were made after 1 January 2025.

The investment properties were valued at market value by CBW Surveyors Limited, 62 High Street, Stony Stratford, Milton Keynes, MK11 1AQ in March 2023.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2017

157,517

Valuation in 2023

50,325

Cost

385,350

593,192

The trustees consider that the valuation of the property in March 2023 is not materially different from its fair value as at 31 March 2025.

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Accrued expenses

5,323

4,649

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.24

in funds

31.3.25

£

£

£

Unrestricted funds

General fund

1,660,589

(22,300

)

1,638,289

TOTAL FUNDS

1,660,589

(22,300

)

1,638,289

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

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

43,183

(51,836

)

(13,647

)

(22,300

)

TOTAL FUNDS

43,183

(51,836

)

(13,647

)

(22,300

)

Comparatives for movement in funds

Net

movement

At

At 1.4.23

in funds

31.3.24

£

£

£

Unrestricted funds

General fund

1,642,799

17,790

1,660,589

TOTAL FUNDS

1,642,799

17,790

1,660,589

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

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

39,697

(18,125

)

(3,782

)

17,790

TOTAL FUNDS

39,697

(18,125

)

(3,782

)

17,790

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

Net

movement

At

At 1.4.23

in funds

31.3.25

£

£

£

Unrestricted funds

General fund

1,642,799

(4,510

)

1,638,289

TOTAL FUNDS

1,642,799

(4,510

)

1,638,289

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

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

82,880

(69,961

)

(17,429

)

(4,510

)

TOTAL FUNDS

82,880

(69,961

)

(17,429

)

(4,510

)

12.	RELATED PARTY DISCLOSURES

The reimbursements disclosed in note 6 were the only related party transactions undertaken during the year ended 31 March 2025.