REGISTERED COMPANY NUMBER: 06503031 (England and Wales)

REGISTERED CHARITY NUMBER: 1124338

Pinderfields Spinal Injuries Centre

Limited

Report of the Trustees and

Financial Statements

for the Year Ended 31 December 2025

Page

Report of the Trustees

1

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

Notes to the Financial Statements

8

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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the charity are:

1. the relief of sickness of persons who have received spinal injuries,

2. the provision, in the interests of social welfare, of facilities for recreation and other leisure time occupation for such persons aforesaid with the object of improving their conditions of life,

3. the promotion of research concerning the treatment and rehabilitation of such persons aforesaid and,

4. the promotion or assisting in the promotion of the charitable work of Pinderfields Hospital in Wakefield.

Significant activities

As part of the partnership with Spine the charity has continued to provide capital items and support for the work they do on a day to day basis.

The Trustees are proud of the partnership with Spine who enhance the lives of individuals and families every year with a grant fund. The charity has once again donated £20,000 to Spine to enable them to continue making grants.

Total expenditure on the equipment and grants was £23,411. This has been facilitated by investment income and substantial gains on the investment portfolio. The Trustees continue to work closely with Rathbones, who invest the funds to provide income and capital growth.

Public benefit

The charity has and continues to support the Mid Yorkshire NHS Trust mainly at Pinderfields Hospital, Wakefield. Pinderfields Hospital is a regional centre for spinal cord medical conditions and injuries. The facilities are available to any person diagnosed with that kind of condition regardless of age, ethnicity, sexual orientation, religion or background.

The charity will consider applications for grants and assistance from any member of the public meeting the required medical criteria. Individual applications for grants are vetted and monitored by Spine which is a partner charity for this purpose.

FINANCIAL REVIEW

Going concern and reserves policy

The charity does not currently undertake active fundraising and the charity maintains reserves of at least one million pounds to generate investment income which enables the charitable gifts to be continued.

Short term cash is maintained to cover known and considered charitable expenditure.

The year has seen an increase in the investment portfolio and the investment income for the year was £72,512 (2024:£76,049) The Trustees work closely with Rathbones Limited and endeavour to provide an income stream and grow the portfolio within a designated risk profile.This strategy is not without risk but relying solely on bank interest would not be able to sustain the charity in the long term.

Total assets at the year end are £2,523,406 (2024:£2,311,070). An operating surplus of £205,911 was made during the year (2024: £52,417).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, which is its Memorandum of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Members of the committee are elected at the Annual General Meeting of the association in accordance with the constitution. Only full members of the association are eligible to serve, and nominations for members of the committee must be made in writing by full members of the association at least 28 days before the AGM. Elections are held by ballot if nominations exceed vacancies.

Induction and training of new trustees

Induction into the charity is conducted by the chief executive and Kevan Baker OBE who has a wealth of knowledge being involved in numerous charities. The trustees are encouraged to attend training and update courses.

Risk management

The trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.The trustees achieve this by having the annual accounts reviewed by an independent examiner.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

06503031 (England and Wales)

Registered Charity number

1124338

Registered office

33 George Street

Wakefield

West Yorkshire

WF1 1LX

Trustees

A R N Perkin

A A Burt (resigned 9.2.2026)

J Curson (resigned 23.2.2026)

C A Ramm (resigned 18.3.2026)

J M Pritchard

K B Baker

J S Crossley

Company Secretary

A R N Perkin

Independent Examiner

J Cooper FCA

Townends Accountants LLP

Chartered Accountants

Carlisle Street

Goole

DN14 5DX

Solicitors

Wrigleys

19 Cookridge Street

Leeds

LS2 3AG

Investment advisers

Rathbones

3 Wellington Place

Leeds

LS1 4AP

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 22 September 2026 and signed on its behalf by:

A R N Perkin - Trustee

Independent examiner's report to the trustees of Pinderfields Spinal Injuries Centre 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

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.

J Cooper FCA

Townends Accountants LLP

Chartered Accountants

Carlisle Street

Goole

DN14 5DX

22 September 2026

2025

2024

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

196

-

196

100

Investment income

3

72,512

-

72,512

76,049

Other income

72

-

72

-

Total

72,780

-

72,780

76,149

EXPENDITURE ON

Raising funds

4

14,934

-

14,934

13,163

Charitable activities

5

Cost of making gift

31,239

-

31,239

98,560

Total

46,173

-

46,173

111,723

Net gains on investments

179,304

-

179,304

87,991

NET INCOME

205,911

-

205,911

52,417

RECONCILIATION OF FUNDS

Total funds brought forward

2,308,356

-

2,308,356

2,255,939

TOTAL FUNDS CARRIED FORWARD

2,514,267

-

2,514,267

2,308,356

2025

2024

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Investments

8

2,393,484

-

2,393,484

2,204,769

CURRENT ASSETS

Cash at bank

129,922

-

129,922

106,301

CREDITORS

Amounts falling due within one year

9

(9,139

)

-

(9,139

)

(2,714

)

NET CURRENT ASSETS

120,783

-

120,783

103,587

TOTAL ASSETS LESS CURRENT LIABILITIES

2,514,267

-

2,514,267

2,308,356

NET ASSETS

2,514,267

-

2,514,267

2,308,356

FUNDS

10

Unrestricted funds

2,514,267

2,308,356

TOTAL FUNDS

2,514,267

2,308,356

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 22 September 2026 and were signed on its behalf by:

A R N Perkin - Trustee

J S Crossley - Trustee

1.	COMPANY DETAILS

Pinderfields Spinal Injuries Centre Limited is a private company limited by guarantee and is registered in England. Its company registration number is 06503031 and it is also a registered charity with number 1124338. The registered office is 33 George Street, Wakefield, West Yorkshire, WF1 1LX.

2.	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.

The accounts have been denoted in sterling.

Going concern

The Trustees do not consider there to be any going concern issues as the charity has assets of over two million pounds and it has no committed expenditure or overheads.

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.

Fixed asset investments

Investments are stated at market value as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Cash at bank and in hand

Bank balances of short maturity of three months or less are included as cash at bank and in hand.

Creditors

All liabilities which the charity is committed to are included in creditors.

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.

Unrealised and realised gains and losses on investments

When investments are sold a realised gain or loss representing the proceeds less the previous years valuation is shown in the Statement of Financial Activities.The market value of all assets held at the year end is obtained and movements since the previous year end are shown in the Statement of Financial Activities as an unrealised gain or loss.

Financial instruments

The company has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and subsequently measured at their settlement value.

3.	INVESTMENT INCOME

2025

2024

£

£

Deposit account interest

3,621

5,709

Dividend income from investments

46,409

48,386

Interest receivable from investments

22,482

21,954

72,512

76,049

4.	RAISING FUNDS

Investment management costs

2025

2024

£

£

Portfolio management

14,934

13,163

5.	CHARITABLE ACTIVITIES COSTS

Support

costs

£

Cost of making gift

31,239

Included in the cost of making gift is an amount of £1,832 (2024: £1,646) in respect of fees paid to the Independent Examiner.

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.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

100

-

100

Investment income

76,049

-

76,049

Total

76,149

-

76,149

EXPENDITURE ON

Raising funds

13,163

-

13,163

Charitable activities

Cost of making gift

98,560

-

98,560

Total

111,723

-

111,723

Net gains on investments

87,991

-

87,991

NET INCOME

52,417

-

52,417

RECONCILIATION OF FUNDS

Total funds brought forward

2,255,939

-

2,255,939

TOTAL FUNDS CARRIED FORWARD

2,308,356

-

2,308,356

8.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1 January 2025

2,204,769

Additions

971,230

Disposals

(896,641

)

Revaluations

114,126

At 31 December 2025

2,393,484

NET BOOK VALUE

At 31 December 2025

2,393,484

At 31 December 2024

2,204,769

There were no investment assets outside the UK.

Cost or valuation at 31 December 2025 is represented by:

Listed

investments

£

Valuation in 2025

373,336

Cost

2,020,148

2,393,484

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Accruals and deferred income

9,139

2,714

10.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

£

£

Unrestricted funds

General fund

2,308,356

205,911

2,514,267

TOTAL FUNDS

2,308,356

205,911

2,514,267

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

72,780

(46,173

)

179,304

205,911

TOTAL FUNDS

72,780

(46,173

)

179,304

205,911

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted fund

2,255,939

52,417

2,308,356

TOTAL FUNDS

2,255,939

52,417

2,308,356

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

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted fund

76,149

(111,723

)

87,991

52,417

TOTAL FUNDS

76,149

(111,723

)

87,991

52,417

11.	RELATED PARTY DISCLOSURES

During the year administrative services totalling £5,885 (2024: £4,525) were provided to the charity by SMH Jolliffe Cork Ltd. Ms J S Crossley is a director of this entity.

Mr K B Baker is a trustee in Spine, a Charity which this entity works in partnership with to support and promote the needs of those with spinal injuries.