REGISTERED COMPANY NUMBER: 02315305 (England and Wales)

REGISTERED CHARITY NUMBER: 800851

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

MULTIPLE SCLEROSIS THERAPY CENTRE

(WESSEX) LIMITED

Page

Reference and Administrative Details

1

Report of the Trustees

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

14

TRUSTEES

Ms S R Fraser

Mrs A Cheesley

T Woodyatt

H Hassall

Miss L Chappell Chair

J Bailey

Mrs S Harris-Johnstone

REGISTERED OFFICE

Bradbury House

The Avenue

Warminster

Wiltshire

BA12 9AB

REGISTERED COMPANY NUMBER

02315305 (England and Wales)

REGISTERED CHARITY NUMBER

800851

INDEPENDENT EXAMINER

PG Owen Limited

Chartered Accountants

21A Market Place

Warminster

Wiltshire

BA12 9AY

BANKERS

Lloyds Bank Plc

120 Lewisham High Street

Lewisham

SE13 6JG

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 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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

Approved by order of the board of trustees on 12 August 2026 and signed on its behalf by:

Miss L Chappell - Trustee

Independent examiner's report to the trustees of Multiple Sclerosis Therapy Centre (Wessex) Limited ('the Company')

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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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.

Ian D Gillard

PG Owen Limited

Chartered Accountants

21A Market Place

Warminster

Wiltshire

BA12 9AY

12 August 2026

2025

2024

Unrestricted

Restricted

Total

Total

funds

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

234,759

22,272

257,031

248,304

Other trading activities

2

126,650

-

126,650

118,897

Investment income

3

10,477

-

10,477

11,219

Other income

4,328

-

4,328

35,138

Total

376,214

22,272

398,486

413,558

EXPENDITURE ON

Raising funds

12,890

-

12,890

10,015

Charitable activities

4

Charitable activities

326,262

8,114

334,376

314,850

Depreciation

24,254

3,911

28,165

30,574

Direct Costs

65,434

19,894

85,328

112,468

Total

428,840

31,919

460,759

467,907

Net gains/(losses) on investments

(16,683

)

-

(16,683

)

15,763

NET INCOME/(EXPENDITURE)

(69,309

)

(9,647

)

(78,956

)

(38,586

)

RECONCILIATION OF FUNDS

Total funds brought forward

570,421

86,499

656,920

695,506

TOTAL FUNDS CARRIED FORWARD

501,112

76,852

577,964

656,920

2025

2024

Unrestricted

Restricted

Total

Total

funds

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

9

135,699

62,581

198,280

205,145

Investments

10

359,327

-

359,327

406,010

495,026

62,581

557,607

611,155

CURRENT ASSETS

Debtors

11

735

-

735

293

Cash at bank

16,075

14,271

30,346

54,122

16,810

14,271

31,081

54,415

CREDITORS

Amounts falling due within one year

12

(10,724

)

-

(10,724

)

(8,650

)

NET CURRENT ASSETS

6,086

14,271

20,357

45,765

TOTAL ASSETS LESS CURRENT LIABILITIES

501,112

76,852

577,964

656,920

NET ASSETS

501,112

76,852

577,964

656,920

FUNDS

13

Unrestricted funds

501,112

570,421

Restricted funds

76,852

86,499

TOTAL FUNDS

577,964

656,920

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 12 August 2026 and were signed on its behalf by:

L Chappell - 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property

- 2% on cost

Oxygen chamber

- 5% on cost

Other equipment

- 33% on cost

Motor

- 25% on reducing balance

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 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.

Designated funds are unrestricted funds earmarked by the trustees for a particular purpose.

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

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2.	OTHER TRADING ACTIVITIES

2025

2024

£

£

Charity shops

67,460

65,759

Events

59,190

53,138

126,650

118,897

3.	INVESTMENT INCOME

2025

2024

£

£

Dividends

10,338

11,219

Interest receivable - trading

139

-

10,477

11,219

4.	CHARITABLE ACTIVITIES COSTS

Support

costs

£

Charitable activities

334,376

Depreciation

28,165

362,541

5.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

28,165

30,574

6.	TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

7.	STAFF COSTS

The average monthly number of employees during the year was as follows:

2025

2024

Team

7

7

No employees received emoluments in excess of £60,000.

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

218,303

30,001

248,304

Other trading activities

118,897

-

118,897

Investment income

11,219

-

11,219

Other income

35,138

-

35,138

Total

383,557

30,001

413,558

EXPENDITURE ON

Raising funds

10,015

-

10,015

Charitable activities

Charitable activities

314,850

-

314,850

Depreciation

26,663

3,911

30,574

Direct Costs

30,353

82,115

112,468

Total

381,881

86,026

467,907

Net gains on investments

15,763

-

15,763

NET INCOME/(EXPENDITURE)

17,439

(56,025

)

(38,586

)

Transfers between funds

30,862

(30,862

)

-

Net movement in funds

48,301

(86,887

)

(38,586

)

RECONCILIATION OF FUNDS

Total funds brought forward

522,120

173,386

695,506

TOTAL FUNDS CARRIED FORWARD

570,421

86,499

656,920

9.	TANGIBLE FIXED ASSETS

Improvements

Leasehold

to

Oxygen

property

property

chamber

£

£

£

COST

At 1 January 2025

227,098

67,722

135,780

Additions

-

2,499

-

At 31 December 2025

227,098

70,221

135,780

DEPRECIATION

At 1 January 2025

118,793

67,722

69,288

Charge for year

4,542

187

3,911

At 31 December 2025

123,335

67,909

73,199

NET BOOK VALUE

At 31 December 2025

103,763

2,312

62,581

At 31 December 2024

108,305

-

66,492

Other

Motor

equipment

vehicles

Totals

£

£

£

COST

At 1 January 2025

185,011

24,995

640,606

Additions

18,801

-

21,300

At 31 December 2025

203,812

24,995

661,906

DEPRECIATION

At 1 January 2025

173,409

6,249

435,461

Charge for year

14,839

4,686

28,165

At 31 December 2025

188,248

10,935

463,626

NET BOOK VALUE

At 31 December 2025

15,564

14,060

198,280

At 31 December 2024

11,602

18,746

205,145

10.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1 January 2025

406,010

Disposals

(30,000

)

Change in value

(16,683

)

At 31 December 2025

359,327

NET BOOK VALUE

At 31 December 2025

359,327

At 31 December 2024

406,010

There were no investment assets outside the UK.

11.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Prepayments and accrued income

735

293

12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

2,010

1,567

Social security and other taxes

6,357

5,405

Other creditors

2,357

1,678

10,724

8,650

13.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

£

£

Unrestricted funds

General fund

75,421

(29,386

)

46,035

Designated Funds

495,000

(39,923

)

455,077

570,421

(69,309

)

501,112

Restricted funds

Restricted Fund

86,499

(9,647

)

76,852

TOTAL FUNDS

656,920

(78,956

)

577,964

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

376,214

(404,585

)

(1,015

)

(29,386

)

Designated Funds

-

(24,255

)

(15,668

)

(39,923

)

376,214

(428,840

)

(16,683

)

(69,309

)

Restricted funds

Restricted Fund

22,272

(31,919

)

-

(9,647

)

TOTAL FUNDS

398,486

(460,759

)

(16,683

)

(78,956

)

Comparatives for movement in funds

Net

Transfers

movement

between

At

At 1.1.24

in funds

funds

31.12.24

£

£

£

£

Unrestricted funds

General fund

25,730

34,680

15,011

75,421

Designated Funds

496,390

(17,241

)

15,851

495,000

522,120

17,439

30,862

570,421

Restricted funds

Restricted Fund

173,386

(56,025

)

(30,862

)

86,499

TOTAL FUNDS

695,506

(38,586

)

-

656,920

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

383,557

(355,218

)

6,341

34,680

Designated Funds

-

(26,663

)

9,422

(17,241

)

383,557

(381,881

)

15,763

17,439

Restricted funds

Restricted Fund

30,001

(86,026

)

-

(56,025

)

TOTAL FUNDS

413,558

(467,907

)

15,763

(38,586

)

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

Net

Transfers

movement

between

At

At 1.1.24

in funds

funds

31.12.25

£

£

£

£

Unrestricted funds

General fund

25,730

5,294

15,011

46,035

Designated Funds

496,390

(57,164

)

15,851

455,077

522,120

(51,870

)

30,862

501,112

Restricted funds

Restricted Fund

173,386

(65,672

)

(30,862

)

76,852

TOTAL FUNDS

695,506

(117,542

)

-

577,964

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

759,771

(759,803

)

5,326

5,294

Designated Funds

-

(50,918

)

(6,246

)

(57,164

)

759,771

(810,721

)

(920

)

(51,870

)

Restricted funds

Restricted Fund

52,273

(117,945

)

-

(65,672

)

TOTAL FUNDS

812,044

(928,666

)

(920

)

(117,542

)

14.	RELATED PARTY DISCLOSURES

During the year, two of the Trustees received therapies on an arms length basis. There were no other related party transactions for the year ended 31 December 2025.

15.	DESIGNATED FUNDS

The purposes of the designated funds are as follows:

A significant proportion of the Charity's resources are tied up in fixed asset capital investment. Such resources are maintained in a designated fund in order to identify they are not available to expend on running costs. The principle assets are:

* Oxygen Tank Replacement Fund - the Trustees are keenly aware that the provision of oxygen therapy is of key importance to members. This fund has been set up to ensure resources will be available to fund the replacement of the current facility when required. As at the 31st of December 2025 this stands at approximately £210,000.

* Wheelchair Adaptable Vehicle Project - funds have been designated to assist in the purchase and running costs of a wheelchair adaptable vehicle and for potential vehicle upgrade over the next 3 years. As at the 31st of December 2025 this stands at approximately £70,000.