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2024-12-31-accounts

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

FINANCIAL STATEMENTS

31 DECEMBER 2024

Company Registration Number: 02659120 Charity Number: 1007207

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

CONTENTS PAGES
Trustees’ Annual Report 1 – 8
Reference & Administrative Information 9
Independent Examiner’s Report 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Financial Statements 14 – 23

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2024

The Trustees have pleasure in presenting their report and the unaudited financial statements of the Charity for the year ended 31 December 2024.

Aims, Objectives and Public Benefit

The aims of the Charity are:

In achieving these aims the objectives set by the Trustees include:

This includes.

  1. Crisis support service to family at the point of an individual’s brain injury

  2. Providing a Carers’ Group to support families and carers.

  3. Community support to those living with or with someone with a brain injury.

  4. Awareness raising sessions to professionals to raise awareness of brain injury.

  5. Support with PIP applications and general benefit advice.

  6. Improving the Charity’s fundraising activities to ensure that sufficient income is generated to support the Charity’s aims.

  7. Identifying a range of appropriate activities that meet the needs of the service users, their families, and carers; and ensuring that all trustees, staff, and volunteers receive the training and support necessary for them in their work.

There are no private benefits that are made available to the Charity’s Trustees, staff, or volunteers.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities whilst being satisfied that the public benefit requirements are fully achieved.

The Board have completed a thorough skills assessment in order to inform recruitment needs and are actively seeking new Trustees to join the Board to fill the vacant positions.

As part of the Charity’s routine policies and procedures, all Trustees are provided with an induction to their role. They are invited to attend training and induction workshops within six months of joining, which covers charity governance, compliance and the essential duties and responsibilities of trustees and directors. All Trustees on the Board contribute their time voluntarily to additional sub-committee groups where they can offer knowledge and expertise.

1

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2024

The board meet a minimum of six times a year as well as twice a year where possible for strategy days.

This is in addition to sub committee’s groups which are made up of trustees and the senior management team.

Mari Holcombe, CEO, is the organisational director with responsibility for the day-to-day running and management of the Charity. The salary and role of the director are agreed by the Board of Trustees on an annual basis and as required as part of the performance management process.

Related Parties

There were no related party transactions in the year.

Affiliation

Headway Bristol is affiliated to Headway UK and the Charity is required to observe the Rules of Affiliation. Headway Bristol is an independent charity (Charity No. 1007207). The Charity is Registered at Companies House (Registration No. 02659120).

Review of Services & Activities

2024 was a challenging year for the charity as it sought to secure new premises following the decision to leave its long-standing home in Frenchay, due to rising and unsustainable rent costs.

From July to September, the charity began its transition to new sites, completing the move and vacating the Frenchay building in September 2024. This relocation marked a shift to a hub-based model, which had previously been trialled with Big Lottery funding in 2023.

The board of trustees played a vital role in supporting the move, providing additional resources and guidance to ensure a smooth transition.

The charity viewed this change as an opportunity to reflect on its aims and objectives, and to explore how the new space could be used to better serve the community and expand service opportunities.

Key Benefits of the Move:

  1. Improved Facilities: The new premises offer better amenities and modern facilities, ensuring a comfortable and efficient environment for everyone.

  2. Better Accessibility: Our new locations offer more inclusive choices, are easily accessible by public transport, with ample parking.

  3. Expanded Services: With additional space and resources, we have introduced innovative programs and services to better meet the needs of our service users.

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HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2024

  1. Enhanced Collaboration: The new locations have allowed us to partner with other organisations that share our mission, fostering collaboration and innovation in our services.

  2. State-of-the-Art Technology: We have access to the latest technology and equipment, which will enhance our ability to provide better care and support.

  3. Increased Privacy: The new premises offer private spaces for consultations and 1:1 session, ensuring confidentiality and comfort for our service users.

  4. Flexible Spaces: The new facilities include versatile areas that can be adapted for a variety of uses, from group activities to individual therapy sessions.

  5. Green Spaces: Access to outdoor areas providing a tranquil environment for relaxation and therapeutic activities, promoting overall wellbeing.

  6. Community Engagement: Being located within vibrant communities have increased our visibility and helped us engage more effectively with local residents and other community organisations.

  7. Volunteer Opportunities: The new locations have provided more opportunities for volunteers to get involved and support our mission in meaningful ways

During this transition, the charity continued to deliver services across Bristol, South Gloucestershire, and North Somerset under spot purchasing contracts.

Relationships with local authorities have remained strong, despite the ongoing challenges posed by social care funding cuts. We have seen a significant drop in the threshold for individuals to access services, and we continue to work closely with our funders to ensure that those most in need do not fall through the gaps.

We are, as always, extremely grateful to the ICP (Bristol, North Somerset, and South Gloucestershire Integrated Care Board) for our annual grant. This vital funding supports much of the charity’s work, particularly our health and social care services. Without this grant, we would be unable to provide the lifeline support that so many in crisis depend on.

Re-ablement day centre and community outreach

The Charity’s key objectives for both the Re-ablement Day Centre and Outreach fall into the following categories and a CRT programme is followed in each category:

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HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2024

The Charity’s one-to-one Community Outreach service, which is delivered in the community and within individuals’ homes, continues to be commissioned by all the authorities the Charity works with. The Charity continues to see successes with service-users’ rehabilitation which results in either decreasing or ending their support package and enabling them to move towards being independent.

Our re-ablement centre continues to offer a range of activities in line with CRT (cognitive rehabilitation therapy) but also to support the negative impact of many of those living in isolation and those attending as a means for respite for their carers.

Hospital and Community Navigators

We were thrilled to finally be able to reinstate those services from May 2022.

The team continues to deliver our crisis service within North Bristol Trust offering vital support to families and carers at the point of an individual’s brain injury.

This service offers its specialist support though a number of ways.

Big Lotto

The charity received two years of financial support from the Big Lottery Fund in 2022 under their community programme. This funding was instrumental in enabling us to open hubs across our service areas.

The Big Lottery-funded project concluded in July 2024 and marked a significant milestone for the charity. It allowed us to trial the hub model, which later became central to our relocation plans from the Frenchay site.

We are extremely grateful to the Big Lottery Fund for their generous support throughout the twoyear project and look forward to the opportunity to work with them again in the future.

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HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2024

Future Developments

Several strategy days were held throughout 2024, primarily focused on the charity’s relocation, its potential impact on service users, and developing a detailed timetable to ensure a smooth transition.

The key objective was to manage the move successfully, followed by a period of stability to allow time for reflection and to fully settle into the new hub model.

The charity held its strategy day in April 2025 which was attended by the CEO members of the senior management team and the board of trustees.

Frenchay Beckspool Building Lease Ends

The charity previously reported in 2021 on the unsuccessful negotiations for a new lease agreement with Active Care, following the transfer of ownership of the Frenchay Beckspool building to North Bristol NHS Trust.

Further discussions took place throughout 2023 with North Bristol Trust, resulting in a 12-month extension of our existing lease terms from September 2023. The Trust also advised that a property evaluation would be carried out in early 2024, with the aim of providing estimated costs for continued occupancy beyond the extension period.

However, when the costings were shared in April 2024, they were found to be approximately 40% higher than what the charity had been planning for.

The charity had been based at the Frenchay Beckspool building for the past nine years, having originally relocated there from Headway House on the same site. Despite our long-standing presence, it became clear that remaining in the current premises was not financially viable—either in the short or long term.

After careful consideration and extensive discussions, the decision was made to relocate to ensure the long-term sustainability and growth of the charity. A formal move-out date was set for September 5th, 2024.

Fundraising

All fundraising activities are carried out by Headway Bristol staff. The charity did not employ external professional fundraisers or engage in commercial fundraising activities during the year.

When supporters choose to undertake sponsored events or fundraise on behalf of the charity voluntarily, and this is known to us, they are encouraged to register with a third-party donation platform or donate directly via our website through JustGiving.

In 2024, the charity received no complaints from donors or supporters, and none were reported to the Fundraising Regulator.

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HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2024

It was a steady year for fundraising, with the charity successfully meeting the target set at the beginning of the year.

Looking ahead, the Board of Trustees and the CEO are committed to reviewing the fundraising strategy in 2025 to support service growth and service delivery.

We are incredibly grateful to our dedicated staff team, service users, and supporters who worked hard to generate fundraising ideas, organise events, and create opportunities to sustain our work.

A special thank you goes to our charity partner, the Great Western Chapter Harley-Davidson Group, whose outstanding and continued support has once again made a significant difference.

We also extend our sincere thanks to all our sponsors, donors, fundraisers, and supporters—your contributions are truly appreciated and vital to our mission.

Reserves Policy

Headway Bristol retains sufficient reserves to maintain and develop the core objectives of the charity. The main source of funding into Headway Bristol is from payments made by or on behalf of service users attending centre-based services at the Headway Centre and the one-to-one Outreach services.

Reserves are set by considering (where appropriate) the following:

The Trustees have reviewed the Charity’s need for reserves in line with the guidance issued by the Charity Commission and believes that a prudent policy is to maintain reserves equivalent to 9 months of expenditure to protect the Charity from investment market risk and provide financial resilience in the event of extreme circumstances that may affect the Charity’s ability to operate.

The minimum level of unrestricted, undesignated reserves held will be £400,000.

The reserves policy is reviewed annually by the Trustees.

The charity is running on a deficit budget and reliant on the reserves being invested to generate income to maintain its charitable activities.

At the balance sheet date, the Charity had reserves summarised as per the table below:

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HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2024

Unrestricted Funds:
-
Designated funds for relocation
-
Minimum level of reserves
-
Other general reserves
Restricted Funds:
Total Funds		 2024
£
2023
£
10,000
300,000
400,000
300,000
454,897
271,411
335
10,000
865,232
881,411

As at the 31[st] December 2024 the charity had free reserves totalling £818,845 (2023: £550,813), this is above the reserves policy of 9 month of expenditure (£400,000).

Investment Policy

The Charity holds a proportion of surplus cash as bank deposits but invests any excess funds with Brewin Dolphin as Headway Bristol’s discretionary fund manager. Investments are made by the fund manager on behalf of the Charity across a range of equity investments to ensure there is an appropriate balance of risk and rewards within the portfolio.

Financial Activities

Total Income for 2024 was £497,370 (2023: £550,085) through donations and fundraising activities. Included in the 2024 figures were a realised loss of £302 on investments sold in the year and an unrealised gain of £43,149 in respect of investments still held by the Charity at year end. The comparative figures for 2023 were a realised loss of £11,604 and unrealised loss of £446. Total Expenditure increased from £426,336 in 2023 to £556,396 in 2024. Investments held by Brewin Dolphin showed a net book value on 31 December 2024 of £838,206 , compared to £817,503 on 31 December 2023.

Election of the Board of Directors/Trustees

Retiring and new Trustees are elected at the Annual General Meeting. One third of its membership retires each year but may be reappointed.

The organisational director of Headway Bristol also attends Trustee meetings and strategy days but is not entitled to vote.

The Board of Trustees appoints its Chair, Vice-Chair and Treasurer/Company Secretary.

The Board approves the Annual Accounts and appoints the independent examiner.

The Board has the power to co-opt new Trustees during the year to fill vacancies.

All the business of the Charity is conducted by the main Trustee body and sub-committee groups which are made up of Trustees and organisational directors.

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HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2024

The Board seeks new Trustees who bring useful skills and expertise – this includes experience of law, charity management, finance, risk management, fundraising marketing, health and social care, and experience of brain injury.

Responsibilities of the Trustees

The trustees (who are also directors of Headway Bristol Brain Injury Association Limited for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

Independent Examiner

Joshua Kingston of Burton Sweet Limited was appointed as the charitable company’s independent examiner during the year and has expressed his willingness to continue in that capacity.

This report has been prepared in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities”.

2 September 2025

Signed by order of the Trustees on ……………………………..

Huw Ponting (Chair)

Hanham Youth Centre, High Street, Hanham, BS15 3EJ

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HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

REFERENCE AND ADMINISTRATION

YEAR ENDED 31 DECEMBER 2024

Status

Headway Bristol Brain Injury Association Limited is a company limited by guarantee and a registered charity. It is constituted under a Memorandum of Association, which establishes the objects and powers of the charitable company, and is governed under its Articles of Association (incorporated 31[st] October 1991, amended 7 February 2000 and on 29 April 2021). Under those Articles the directors, who are Trustees for the purposes of charity law, are elected at the AGM to serve for a period of six years.

Directors

The Trustees, who are also the directors for the purpose of company law, and who served during the year were:

Huw Ponting Kay McCluskey (resigned 23 March 2024) Priscilla Norgren Mark Finn (Treasurer) Willum Long James Davies John Bennett Rees Batley David Ball

Registered office

Hanham Youth Centre, High Street, Hanham, BS15 3EJ

Independent Examiner

Joshua Kingston BSc ACA, Burton Sweet Limited, The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol BS48 1UR

Bankers

Santander, Bootle, Merseyside, L30 4GB

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HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

INDEPENDENT EXAMINER’S REPORT

YEAR ENDED 31 DECEMBER 2024

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.

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 the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I 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.

Joshua Kingston, Bsc ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR Date: 2 September 2025

10

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 DECEMBER 2024

Unrestricted
Funds
Note
£
Income from:
Donations and grants
2
109,989
Other trading activities
2,609
Charitable activities
3
356,565
Investments
4
28,207
Total income
497,370
Expenditure on:
Raising funds
7,822
Charitable activities
5
538,909
Total expenditure
546,731
(Losses) / Gains on investments
11
42,847
(6,514)
Total funds at 1 January
16
871,411
Total funds at 31 December
16
864,897
Net Income / (expenditure) and net
movement in funds		 Restricted
Funds
£
-
-
-
-
-
-
9,665
9,665
-
(9,665)
10,000
335		 Total Funds
2024
£
109,989
2,609
356,565
28,207
497,370
7,822
548,574
556,396
42,847
(16,179)
881,411
865,232		 Total Funds
2023
£
138,325
7,145
377,694
26,921
550,085
5,980
420,356
426,336
(12,050)
111,699
769,712
881,411

The Charity has no recognised gains or losses other than the results for the year as set out above. All of the activities of the charity are classed as continuing

The prior year fund comparatives are set out in note 9

The notes on pages 14 to 23 form part of these financial statements

11

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024

BALANCE SHEET
AS AT 31 DECEMBER 2024
AS AT 31 DECEMBER 2024 Company number 02659120
Note
Fixed assets
Tangible assets
10
Investments
11		 2024
£
36,052
838,206		 2023
£
20,598
817,503
Current assets
Debtors
12
Cash at bank and in hand		 874,258
13,371
21,683		 838,101
8,469
111,180
Creditors : amounts falling due within one year
13		 35,054
(44,080)		 119,649
(76,339)
Net current assets (9,026) 43,310
Net assets 865,232 881,411
Funds
Designated funds
17
General funds
17		 10,000
854,897		 300,000
571,411
Total unrestricted funds
Restricted funds
17		 864,897
335		 871,411
10,000
865,232 881,411

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

Directors' responsibilities

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

These financial statements were approved by the trustees on …........................... and are signed on their behalf by:2 September 2025

Huw Ponting Trustee

The notes on pages 14 to 23 form part of these financial statements

12

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

CASH FLOW STATEMENT

YEAR ENDED 31 DECEMBER 2024

Note
Net cash inflow/(outflow) from operating activities
14
Non-operational cashflows:
Investing activities
Purchase of fixed assets
Payments for investments
Proceeds from sale of investments
Investment income
Net cash inflow/(outflow) for the year
15		 2024
£
(116,538)
(23,310)
(215,806)
236,168
28,207
(91,279)		 2023
£
146,599
-
(293,886)
129,316
26,921
8,950

Cash flow restrictions

Charity law forbids the use of net cash inflows on any endowed or other restricted fund to offset net cash outflows on any fund outside its own Objects, except on special authority. In practice this restriction has not had any effect on cash flows for the year.

The notes on pages 14 to 23 form part of these financial statements

13

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

The trustees consider that the 'going concern' basis remains appropriate for the preparation of the charity's financial statements despite the significant uncertainty caused by the cost of living crisis. Whilst there has been a significant impact on the charity's operations, the trustees are confident the charity has sufficient reserves to meet these challenges.

The charity meets the definition of a public benefit entity under FRS102.

b) Investments

Listed investments are held at market value, and represent investments administered by investment managers on behalf of the charity. Unrealised gains and losses arising on the revaluation of investments are credited or charged to the Statement of Financial Activities and are allocated to the appropriate fund according to the "ownership" of the underlying assets. Unlisted investments are held at cost less any impairment.

c) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.

d) Creditors

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

ii) When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.

14

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1 Accounting policies (continued)

2 Donations and grants

Donations
Bristol, N Somerset & S Gloucestershire CCG Grant
Lottery Outpost Funding
Gift Aid
Prior year comparatives
Donations
Bristol, N Somerset & S Gloucestershire CCG Grant
Lottery Outpost Funding
Gift Aid		 Unrestricted
Funds
£
12,041
69,000
28,525
423
109,989
Unrestricted
Funds
£
23,668
64,500
48,900
1,257
138,325		 Restricted
Funds
£
-
-
-
-
-
Restricted
Funds
£
-
-
-
-
-		 Total Funds
2024
£
12,041
69,000
28,525
423
109,989
Total Funds
2023
£
23,668
64,500
48,900
1,257
138,325

15

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

3 Income from charitable activities

Unrestricted
Funds
Service Contracts:
£
Bristol City Council
143,608
South Gloucestershire Council
118,451
North Somerset Council
20,727
Private attendance fees
73,779
356,565		 Restricted
Funds
£
-
-
-
-
-		 Total Funds
2024
£
143,608
118,451
20,727
73,779
356,565		 Total Funds
2023
£
169,222
117,033
27,313
64,126
377,694

The prior year comparatives are represented by unrestricted funds.

4 Income from investments

Unrestricted
Funds
£
Dividends
24,830
Interest Received
3,377
28,207		 Restricted
Funds
£
-
-
-		 Total Funds
2024
£
24,830
3,377
28,207		 Total Funds
2023
£
21,116
5,805
26,921

The prior year comparatives are represented by unrestricted funds.

5 Expenditure on charitable activities

Activities:
Headway Centre
Outreach
Support & Carers, Young People and Community
Lottery Funded Outposts
Prior year
Activities:
Headway Centre
Outreach
Support & Carers, Young People and Community
Lottery Funded Outposts		 £
138,205
88,992
31,757
30,107
289,061
£
61,838
96,471
30,118
21,246
209,673
Direct costs
Direct costs		 £
121,729
73,765
38,371
25,648
259,513
£
80,951
70,217
33,342
26,173
210,683
Support
costs
Support
costs		 Total costs
2024
£
259,934
162,757
70,128
55,755
548,574
Total costs
2023
£
142,789
166,688
63,460
47,419
420,356

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HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

5 Expenditure on charitable activities (continued)

----- Start of picture text -----
|||| |---|---|---| |Support costs| |2024|2023| |£|£| |Management staff costs|126,468|111,508| |Staff costs|55,249|55,363| |Publications|20|44| |Recruitment costs|145|348| |Training|1,528|2,355| |Insurance|3,855|2,404| |Travelling and accommodation|4,296|4,745| |Volunteers' expenses|-|285| |Rent|31,443|12,090| |Repairs and maintenance|531|9| |IT costs|7,908|7,750| |Membership fees|698|512| |Legal and professional|12,535|1,663| |Printing, stationery and postage|1,858|2,920| |Depreciation|7,856|4,791| |Governance|3,226|2,666| |Other costs|1,897|1,230| |259,513|210,683|

----- End of picture text -----

Support costs are allocated between activities based on usage.

6 Net income for the year

This is stated after charging:

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£|£| |Depreciation|7,856|4,791| |Independent examiner's fee:| |- for Independent Examination|1,104|1,020| |- for Accounts Preparation|1,644|1,524| |- for Other Services|300|300| |- Under/ (Over) Accrual in Previous Year|178|(178)|

----- End of picture text -----

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HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

7 Staff costs and numbers

The aggregate payroll costs were:

Wages and salaries
Social security costs
Employers pension contributions		 2024
£
364,741
25,283
9,973
399,997		 2023
£
356,529
21,757
10,039
388,325

No employee received emoluments of more than £60,000.

The average weekly number of employees during the year, calculated on the basis of a headcount, was as follows:

Administration
Care and support		 2024
No.
4
13
17		 2023
No.
5
14
19

The key management personnel consists of the trustees, operations director, operations manager and the finance manager. The key management personnel received total remuneration of £126,468 (2023: £113,377).

8 Taxation

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

18

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

9 Fund comparatives

Income from:
Donations
Other trading activities
Charitable activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
(Losses) / Gains on investments
Total funds at 1 January
Total funds at 31 December
Net income and net movement in
funds		 Unrestricted
Funds
£
138,325
7,145
377,694
26,921
550,085
5,980
416,616
422,596
(12,050)
115,439
755,972
871,411		 Restricted
Funds
£
-
-
-
-
-
-
3,740
3,740
-
(3,740)
13,740
10,000		 Total Funds
2023
£
138,325
7,145
377,694
26,921
550,085
5,980
420,356
426,336
(12,050)
111,699
769,712
881,411

19

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

----- Start of picture text -----
10 Tangible fixed assets
Leasehold Computer Motor
Property Equipment Equipment Vehicles Total
£ £ £ £ £
Cost
At 1 January 2024 247,692 28,729 25,009 51,099 352,529
Additions - 13,645 9,665 - 23,310
At 31 December 2024 247,692 42,374 34,674 51,099 375,839
Depreciation
At 1 January 2024 247,692 23,864 21,769 38,606 331,931
Charge for the year - 2,776 2,581 2,499 7,856
At 31 December 2024 247,692 26,640 24,350 41,105 339,787
Net book value
At 31 December 2024 - 15,734 10,324 9,994 36,052
At 31 December 2023 - 4,865 3,240 12,493 20,598
11 Investments
2024 2023
£ £
Market value as at 1 January 817,503 664,029
Additions at cost 215,806 293,886
1,033,309 957,915
Sale proceeds (236,168) (129,316)
Gain on sales (302) (11,604)
796,839 816,995
Increase in cash deposit held by brokers (1,782) 954
Unrealised (loss)/gain on revaluation 43,149 (446)
Market value as at 31 December 838,206 817,503
Historical cost at 31 December 824,199 846,684
12 Debtors
2024 2023
£ £
Trade debtors 5,213 4,654
Prepayments and accrued income 6,708 2,315
Other debtors 1,450 1,500
13,371 8,469
----- End of picture text -----

20

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

13 Creditors: amounts falling due within one year

Trade creditors
Accruals
Deferred income
Other creditors		 2024
£
13,387
3,824
17,500
9,369
44,080		 2023
£
4,619
2,621
20,575
48,524
76,339

14 Reconciliation of net movement in funds to net cash inflow from operating activities

Statement of Financial Activities: net movement in funds
Depreciation
Loss / (gain) on investments
Investment income
Profit / (loss) on sale of investments
(Decrease) / Increase in creditors
Increase / (Decrease) in debtors
Net cash inflow/(outflow) from operating activities		 2024
£
(16,179)
7,856
(43,149)
(28,207)
302
(32,259)
(4,902)
(116,538)		 2023
£
111,699
4,791
446
(26,921)
11,604
(30,697)
75,677
146,599

15 Analysis of changes in cash and cash equivalents during the year

Cash at bank and in hand
Cash in investment brokers account
Cash and cash equivalents
Cash at bank and in hand
Cash in investment brokers account
Cash and cash equivalents		 2024
£
21,683
9,573
31,256
2023
£
111,180
11,355
122,535		 2023
£
111,180
11,355
122,535
2022
£
103,184
10,401
113,585		 Movement
£
(89,497)
(1,782)
(91,279)
Movement
£
7,996
954
8,950

21

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

16 Movement in funds

Unrestricted funds
Designated funds - relocation costs
General funds
Restricted funds
CRM
Total funds
Prior year
Unrestricted funds
Designated funds - relocation costs
General funds
Restricted fund
Activities
John James - replacement van
CRM
Total funds		 £
300,000
571,411
871,411
10,000
10,000
881,411
£
300,000
455,972
755,972
3,020
720
10,000
13,740
769,712
1 January
2023
1 January
2024		 £
-
540,217
540,217
-
-
540,217
£
-
550,085
550,085
-
-
-
-
550,085
Income and
gains


Income and
gains		 £
(30,000)
(516,731)
(546,731)
(9,665)
(9,665)
(556,396)
£
-
(434,646)
(434,646)
(3,020)
(720)
-
(3,740)
(438,386)
Expenditure
and losses
Expenditure
and losses		 Transfers
£
(260,000)
260,000
-
-
-
-
Transfers
£
-
-
-
-
-
-
-
-

 £
10,000
854,897
864,897
335
335
865,232
£
300,000
571,411
871,411
-
-
10,000
10,000
881,411
31 December
2023
31 December
2024

The general unrestricted funds are able to be utilised at the discretion of the trustees in line with the objects of the charity. Free reserves are part of general reserves and are considered in the Trustees' reserves policy which is stated on page 6 of the Trustees' Annual Report.

Relocation Costs

Future relocation costs that may arise on expiration of the current lease for the Headway Centre. Following the relocation in 2024, the level of designated funds previously held for this purpose has been reviewed and reduced, with the surplus transferred to general funds accordingly.

Activities

The charity received funds for outdoor activities, but has been unable to use them in the current year. It expects to be able to use them in the coming year.

John James - replacement van

Funds received to purchase a new van.

CRM

Funds to assist with Computer & Programmes Purchases.

22

HEADWAY BRISTOL BRAIN INJURY ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

17 Analysis of net assets between funds

Year ended 31 December 2024
Unrestricted funds
Designated funds
General funds
Restricted funds
Analysis of net assets between funds - prior year
Year ended 31 December 2023
Unrestricted funds
Designated funds
General funds
Restricted funds		 Investments
£
10,000
828,206
838,206
-
838,206
Investments
£
300,000
517,503
817,503
-
817,503		 Tangible
Fixed assets
£
-
36,052
36,052
-
36,052
Tangible
Fixed assets
£
-
20,598
20,598
-
20,598		 Other
Net assets
£
-
(9,361)
(9,361)
335
(9,026)
Other
Net assets
£
-
33,310
33,310
10,000
43,310		 Total
£
10,000
854,897
864,897
335
865,232
Total
£
300,000
571,411
871,411
10,000
881,411

18 Company limited by guarantee

The company is limited by guarantee and, as such, has no issued share capital. In the event of the company being wound up the liability of the members is limited to £1 each.

19 Related parties

There are no transactions with trustees or other related parties other than those disclosed as required by to SORP elsewhere in the financial statement.

23