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← Headway Surrey Head Injuries Association Ltd

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 02991672 (England and Wales) REGISTERED CHARITY NUMBER: 1046863

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

Caldwell Penn

7a Abbey Business Park Monks Walk Farnham Surrey GU9 8HT

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 31 March 2025

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Page
Reference and Administrative Details 1
Report of the Trustees 2 to 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11 to 12
Notes to the Financial Statements 13 to 22
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HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS For The Year Ended 31 March 2025

TRUSTEES L M Eccles
M Ferguson Acting Chair
A C Golding Treasurer
S J Ings
J Payne (appointed 1.4.2024)
P Davies (appointed 1.7.2024)
I MacFarlane (appointed 1.4.2024) (resigned 6.3.2025)
N Felles (appointed 1.7.2024)
A Reece (appointed 12.11.2024)
R Byers (appointed 6.3.2025)
R Clark (appointed 16.6.2025)
REGISTERED OFFICE Headway House
North Road
Stoughton Guildford
Surrey
GU2 9PU
REGISTERED COMPANY NUMBER 02991672 (England and Wales)
REGISTERED CHARITY NUMBER 1046863
INDEPENDENT EXAMINER Caldwell Penn
7a Abbey Business Park
Monks Walk
Farnham
Surrey
GU9 8HT
BANKERS CAF Bank Limited
Kings Hill
West Malling
Kent
ME19 4TA

Page 1

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

REPORT OF THE TRUSTEES For The Year Ended 31 March 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Companies Act 2006 and "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)".

Who are we and why our work is important.

At Headway Surrey, everyone is welcomed into a supportive community where they feel a sense of belonging, can be themselves, and work towards personal goals that enable them to thrive. We provide facilities, resources, and peer support for people living with acquired or traumatic brain injury (ABI/TBI). Importantly, our work extends beyond survivors to include families, carers, employers and wider support networks.

Every 90 seconds, someone in the UK is admitted to hospital with a brain injury. Causes include workplace and sports accidents, trips and falls, falling objects, stroke, encephalitis, meningitis, hypoxia, carbon monoxide poisoning, assault, domestic violence, combat injuries, brain tumours, aneurysms and many other conditions. Headway Surrey helps people and their families to cope with this life-changing trauma.

Our work reduces the pressure on public services by filling a vital gap in specialist rehabilitation and support not available elsewhere.

Our Vision

To be known throughout Surrey as the 'go to place' for support with acquired and traumatic brain injury.

Our Mission

Page 2

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

REPORT OF THE TRUSTEES For The Year Ended 31 March 2025

OBJECTIVES AND ACTIVITIES Objectives

Activities

Public benefit

The Trustees have considered the Charity Commission's guidance on public benefit. They confirm that Headway Surrey delivers clear and demonstrable benefit to:

By providing specialist rehabilitation and support not otherwise available, the charity relieves pressure on statutory services while improving quality of life for clients.

Chief Executive Report on Services

Headway Surrey continues to provide a wide range of services to support and enable adults in Surrey with acquired brain injury to live well. Our Reablement Team brings specialist expertise, with staff holding qualifications such as the Certificate in Brain Injury (Headway UK/Northampton University) and Brain Tree Training. Team members also have experience in special needs, challenging behaviour, and psychology.

The staff team numbers 8 employees, equivalent to 6 full-time roles, supported by more than 29 volunteers in a variety of roles including trusteeship, centre-based support, helpline cover, awareness raising, fundraising, admin and gardening.

Using a conservative estimate:

The Services

Headway Surrey's portfolio of services includes:

Page 3

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

REPORT OF THE TRUSTEES For The Year Ended 31 March 2025

Collaboration and joint working .

We work collaboratively with statutory and voluntary partners including:

We also work closely with Surrey County Council, NHS Clinical Commissioning Groups, borough councils, Rotary Clubs and other voluntary organisations and corporate partners.

Staff Team (2024-25)

Financial Challenges and Sustainability

Like many charities, Headway Surrey has faced ongoing financial pressures during 2025. Rising operational costs, increased demand for services, and a competitive funding environment have impacted our income streams.

To ensure financial stability, the Trustees and management team made the difficult decision to reduce or scale back some services during the year. This careful prioritisation allowed the charity to continue delivering its most vital support programmes, including the helpline, 1:1 rehabilitation sessions, Centre Workshop Days, and hospital-based Community Engagement Coordinator outreach.

Despite these challenges, the commitment of our staff, volunteers, and supporters has ensured that brain injury survivors and their families continue to receive essential help when they need it most.

Looking ahead, Headway Surrey is focused on:

The Trustees remain confident that, with the continued support of funders, partners, and the local community, Headway Surrey will build a more sustainable future while continuing to deliver life-changing services across Surrey.

Page 4

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

REPORT OF THE TRUSTEES For The Year Ended 31 March 2025

ACHIEVEMENTS AND PERFORMANCE Report by the Chair on Achievements and Performance

In June this year Headway Surrey celebrated its 40th anniversary and for all that time Headway Surrey has been dedicated to helping people navigate life after acquiring a brain injury. Acquired brain injuries are caused by trauma or other events after birth with the main causes being strokes, trips and falls, road traffic accidents, infection and disease and assaults. We estimate that c30,000 people are admitted to Surrey hospitals with a brain injury every year and we believe everyone should have access to the help and support they need and deserve after injury.

At the moment, Headway Surrey provides an invaluable service to only a small proportion of those living with ABI and their families in Surrey but our strategic aim remains to steadily increase our client numbers and to help as many people with ABI as we are able to. In order to do that, we need to increase our income and ensure the Charity is in a sustainable financial position. This is the biggest challenge the Charity has to address.

The fiscal year this report covers, saw financial progress made with a more encouraging financial performance due in the main to a few key factors regarding grants and fees.

In March 2024 we received a substantial grant for this fiscal of £73,000 from the Surrey County Council, Care Commissioner through the Better Care Fund, to support the provision of services that are utilized by carers. We also had a notable success with the receipt of a National Lottery Reaching Communities Grant for £135,000 which is spread over 5 years.

The other key factor was an increase in fees from Surrey County Council's Adult Social Care. Some of our clients are able to get funding for their rehabilitation from Surrey County Council's Adult Social Care but as public sector funding had not been increasing with inflation, the fees received from ASC were not covering Headway Surrey's full costs of servicing those clients. Therefore, in late 2023, our CEO entered discussions with our Local Authority, Surrey County Council (SCC), Adult Social Care, presenting a case for them to increase their payments to cover full cost recovery for the services we are providing for them. After much hard work, we were very pleased to be informed that the fees would be increased from July'24 to the level requested. This was a significant positive step for the Charity.

We continued to work with our freelance fundraiser, Katie Heyward, who focusses on applying and obtaining grants for us. We are very grateful for the grants and donations made by a broad mix of institutions, corporate sponsors and also to individuals who have undertaken a number of challenges and activities to generate our much-needed funds.

Our staff team and volunteer team have continued to support our clients in every way they can. The hospital Community Engagement Coordinators were able to form the bridge between primary care medical professions and our services, ensuring that people newly injured are aware of our services. Our monthly Drop Ins, Walking Talking Groups and Young Persons Group have proved very popular again this year.

In the last quarter of the fiscal year, we were pleased to introduce a completely refreshed website which has been designed to make it much easier and clearer for people to find the information they are looking for.

In June 2024 the Board undertook a review to ensure the organisational structure of the Charity was set up to operate as efficiently and effectively as possible to deliver our objectives and as a result of that review the Board made some changes to the structure. An outcome of the review was that one of our Joint CEOs, Sonja Freebody, decided to take redundancy and we wish to thank Sonja for her contribution and commitment to the Charity. Maggee Fulleylove was appointed as the sole CEO and has been doing an excellent job leading the Charity.

One of our long serving Rehabilitation Co-Ordinators, Rowena Tyler, unfortunately had to retire due to health issues and we thank her for her many years of supporting our clients.

The Board of Trustees has undergone some changes as well. Ian MacFarlane stood down as a Trustee for personal reasons but I am pleased to report that Alexandra Reeves, Rebecca Byers and Richard Clark have joined the Board of Trustees bringing valuable skills and experience with them.

Whilst the fiscal year these accounts cover was a successful year and the Board entered this current fiscal optimistic about the continued development of the Charity, the current adverse economic environment is presenting challenges for small charities with critically the availability of funds from Grants and Foundations becoming even more competitive due to the increased number of charities applying for support. The Board therefore decided that to ensure the sustainability of the Charity and reduce the dependence upon receiving grant income, it has implemented a plan to reduce overheads. The Charity will continue to play a crucial role in the lives of brain injury survivors and their families through focusing on our core services of Centre workshops and 1-to-1 support sessions and we remain fully committed to supporting the Surrey community

Page 5

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

REPORT OF THE TRUSTEES For The Year Ended 31 March 2025

I would like to thank our wonderful staff, volunteer team, and our trustees - existing, past and new - without whom we would be unable to continue providing such life-changing support to our clients. It is a real honour to work with such a dedicated and professional team, who care so deeply about each person that we support.

FINANCIAL REVIEW

Financial position

The accounts for the year ending 31 March 2025 show total income amounting to £373,310 (2024: £280,538) and resources expended of £332,998 (2024: £290,441). A surplus of £40,565 (2024: £3,770 deficit) was recorded in the year following the inclusion of a £253 gain on investments (2024: £6,133 gain).

This is a remarkably strong year for the Charity, primarily as a result of a couple of material grants being received. However, there was also high growth in fee income as Adult Social Care increased the fees paid per client.

Reserves policy

The Reserves Policy is reviewed annually. 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 6 months expenditure. The trustees consider that reserves at this level would ensure that, in the event of a significant drop in funding, they would be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. Trustees have supported a cautious reserves policy for two reasons:

At the end of March 2025 Headway Surrey Head Injuries Association Ltd carried £231,882 unrestricted, undesignated reserves, equal to 8.6 months operating costs based on the results of the year. Of those funds, £63,507 represent free reserves. Unrestricted reserves includes the revalued cost of the leasehold property, which is disproportionately high compared to annual income and expenditure. For this reason, the Charity considers free reserves to be a more accurate measure of its ability to meet financial obligations as they fall due and have set a target of maintaining 2 months of average expenditure. The level held at the year end is equal to 2.3 months of expenditure.

In response to historically low level of free reserves, the Finance Committee has continued to carry out an enhanced cash flow review on a monthly basis throughout the year. This has ensured that funds have been made available when well in advance of potential cash flow issues arising and as a result the Charity has faced no issues with paying creditors during the year.

Page 6

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

REPORT OF THE TRUSTEES For The Year Ended 31 March 2025

FINANCIAL REVIEW Strategic Development Fund and Investments

The Strategic Development Fund (SDF) is a designated fund earmarked for improving the provision of existing services and developing new services in response to the needs of our beneficiaries as directed by the Trustees. The fund is substantially made up by an investment portfolio. Cash income generated by the investments will be available for unrestricted use by the Charity, whilst gains on investment values shall remain within the designated fund.

It is the objective of the Charity that for the investment portfolio, total annualised returns over a three year period exceed average annual CPI over the same period. Total annual returns will be measured using an industry standard, and will account for additions to, and withdrawals from, the capital invested. This level of return is considered necessary to justify the risk to capital inherent with investments of this nature. It is deemed inappropriate to make a full appraisal of the investments at this stage due to exceptional economic conditions over the last three years, however, there has been an encouraging recovery in the value of the investment portfolio during the year.

Headway Surrey Head Injuries Association Ltd retains a long-term interest in the site at North Road, Guildford, having leased the land from Windsor and District Housing Association for a period of 125 years, at a peppercorn rent.

Going Concern

In recent years the Charity has been increasingly dependant on grants and donations to continue operating. Whilst the year ending 31 March 2025 was financially strong for the Charity, returning a large surplus after a number of years of deficits, this has been driven by high grant receipts.

Grants and donations accounted for 63% of incoming resources in the year. The Trustees have become increasingly concerned by the risk this exposes the Charity to and this concern has highlighted by the budget prepared for the 2026 year end, in which fee income covered just 45% of planned expenditure.

The trustees consider this level of dependence on grants to be unsustainable so have in months implemented a plan to reduce overheads and focus of core fee paying services. The Board forecast that under this new model total expenditure will fall by around 50% and annual fee income will account for 72% of this expenditure. This significantly reduces the level of grants and donations needed annually down to an acceptable level.

On this basis, the Board consider the Charity to be a going concern at the date of signing this report.

Page 7

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

REPORT OF THE TRUSTEES For The Year Ended 31 March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is a company limited by guarantee, founded in 1985, registered with the Charity Commission in June 1995. Memorandum and Articles were incorporated on 17th November 1994, as amended by special resolutions dated 26th April 1995, 11th October 2011 and 27th October 2016.

In the event of the company being wound up, all the Trustees who are members are required to contribute an amount of £1. None of the Trustees has any beneficial interest in the company and give their time freely as volunteers. No trustee received remuneration in the year.

Statement of trustees' responsibilities

The Trustees, who are also the directors of Headway Surrey Head Injuries Association Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;

observe the methods and principles in the Charities SORP;

make judgements and estimates that are reasonable and prudent; and

prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 20/10/2025

Mandy Ferguson

Mandy Ferguson (Oct 20, 2025 13:38:05 GMT+1)

..............................................................................

M Ferguson - Trustee

Page 8

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

Independent examiner's report to the trustees of Headway Surrey Head Injuries Association 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

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.

Katharine Halsall

Katharine Halsall (Oct 21, 2025 07:41:59 GMT+1)

Katharine Halsall FCCA ACA

Caldwell Penn 7a Abbey Business Park Monks Walk Farnham Surrey GU9 8HT

Date: .............................................20/10/2025

Page 9

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31 March 2025

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
4
41,831
Charitable activities
6
Charitable activities
178,603
Investment income
5
3,705
Total
224,139
EXPENDITURE ON
Raising funds
7
34,325
Charitable activities
8
Charitable activities
165,118
Total
199,443
Net gains on investments
253
NET INCOME/(EXPENDITURE)
24,949
RECONCILIATION OF FUNDS
Total funds brought forward
275,464
TOTAL FUNDS CARRIED FORWARD
300,413		 Restricted
funds
£
905
148,266
-
149,171
11,083
122,472
133,555
-
15,616
94,610
110,226		 2025
Total
funds
£
42,736
326,869
3,705
373,310
45,408
287,590
332,998
253
40,565
370,074
410,639		 2024
Total
funds
£
39,138
239,747
1,653
280,538
22,449
267,992
290,441
6,133
(3,770)
373,844
370,074

The notes form part of these financial statements

Page 10

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

BALANCE SHEET 31 March 2025

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
13
168,375
Investments
14
67,814
236,189
CURRENT ASSETS
Stocks
15
500
Debtors
16
39,211
Cash at bank and in hand
76,623
116,334
CREDITORS
Amounts falling due within one year
17
(32,110)
NET CURRENT ASSETS
84,224
TOTAL ASSETS LESS CURRENT LIABILITIES
320,413
CREDITORS
Amounts falling due after more than one year
18
(20,000)
NET ASSETS
300,413
FUNDS
20
Unrestricted funds:
Designated fund: Strategic Development fund
Designated fund: Bursary fund
General unrestricted funds
Revaluation reserve
Restricted funds:
Fixed asset donation
Projects
TOTAL FUNDS		 Restricted
funds
£
79,154
-
79,154
-
1,000
31,433
32,433
(1,361)
31,072
110,226
-
110,226		 2025
Total
funds
£
247,529
67,814
315,343
500
40,211
108,056
148,767
(33,471)
115,296
430,639
(20,000)
410,639
67,814
717
159,021
72,861
300,413
78,000
32,226
110,226
410,639		 2024
Total
funds
£
245,729
67,561
313,290
32
25,026
77,137
102,195
(25,411)
76,784
390,074
(20,000)
370,074
67,561
717
134,325
72,861
275,464
78,000
16,610
94,610
370,074

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 notes form part of these financial statements

continued...

Page 11

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

BALANCE SHEET - continued 31 March 2025

The trustees acknowledge their responsibilities for

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 .............................................20/10/2025 and were signed on its behalf by:

Mandy Ferguson Mandy Ferguson (Oct 20, 2025 13:38:05 GMT+1)

.............................................

M Ferguson - Trustee

The notes form part of these financial statements

Page 12

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS For The Year Ended 31 March 2025

1. CHARITY INFORMATION

Headway Surrey Head Injuries Association Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Headway House, 21 North Road, Guildford, Surrey, GU2 9PU.

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 charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. 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.

Going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Trustees have made this assessment in respect of a period of one year from the date of approval of these financial statements.

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

Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised one the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

Support and governance costs are allocated to charitable activities (85%) and fundraising costs (15%) to reflect the underlying activity levels.

Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

continued...

Page 13

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents

Cash and cash equivalents 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.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their head useful live on the following bases:

Leasehold land and buildings - Nil
Day centre equipment - 5 years straight-line
Fixtures and fittings - 5 years straight-line
Computers - 5 years straight-line

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Stocks

Stocks comprise stocks of leaflets, publications and stationery held for use in charitable activities. Valuation is based upon the cost price as typically stocks are held for distribution at no or nominal cost, with the cost borne by the charity at the point these are used to undertake fundraising or charitable activities.

Taxation

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

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of restricted funds are set out in the notes to the financial statements.

Retirement benefits

Payments to defined contribution benefit schemes are charged as an expense as they fall due.

Financial instruments

The charity 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 charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within on year are not amortised.

continued...

Page 14

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Financial instruments

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if a payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

Concessionary loans

Concessionary loans with no set repayment date are measured at the amount received, adjusted for any amounts repaid and accrued interest.

Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In the application of the charity's accounting policies, the trustees 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 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.

Key sources and estimation of uncertainty

Valuation of investments

A key accounting estimate is the value at which trustees recognise investments. The risk of misstatement is mitigated by the use of investment managers who publish a portfolio valuation. Listed investments are valued by reference to their market value prevailing at the balance sheet date.

4. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
2025 2024
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Donations and gifts 41,831 905 42,736 39,138

Page 15

continued...

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025

5. INVESTMENT INCOME

2025 2024
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Trading investments 948 - 948 1,270
Interest receivable non-operating 2,757 - 2,757 110
Interest receivable operating - - - 273
3,705 - 3,705 1,653

6. INCOME FROM CHARITABLE ACTIVITIES

Charity activities
Grants		 2025
Charitable
activities
£
138,202
188,667
326,869		 2024
Total
activities
£
114,564
125,183
239,747

7. RAISING FUNDS Raising donations and legacies

2025 2024
Total funds Total funds
£ £
Advertising 6,620 573
Seeking donations, grants and legacies 14,635 1,353
Fundraising support costs 24,153 20,523
45,408 22,449
CHARITABLE ACTIVITIES COSTS
Charitable Charitable
Expenditure Expenditure
2025 2024
£ £
Staff costs 140,976 148,886
Day centre expenses 9,412 2,530
Befriending expenses 334 279
150,722 151,695
Share of support costs (see note 9) 126,100 109,634
Share of governance costs (see note 9) 10,768 6,663
287,590 267,992
Analysis by fund
Unrestricted funds - general 165,118 219,494
Restricted funds 122,472 48,498
287,590 267,992

8. CHARITABLE ACTIVITIES COSTS

Page 16

continued...

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025

9. SUPPORT COSTS

SUPPORT COSTS
Governance
Management costs Totals
£ £ £
Raising donations and legacies 148,351 12,668 161,019

Governance costs includes payments to the independent examiner of £1,440 (2024 - £1,440) for independent examination fees.

Support costs, included in the above, are as follows:

Salaries - admin
Salaries - admin - social security
Salaries - admin - pensions
Rates and water
Legal and professional fees
Premises expenses
Telephone
Postage and stationery
Sundries
Computer expenses
Subscriptions
Staff training
Depreciation of tangible and heritage assets
Independent examination fees
Accountancy fees
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 2025
Raising
donations
and
legacies
£
92,271
9,302
2,065
289
11,223
9,441
8,318
707
2,488
4,430
1,826
5,416
575
1,440
11,228
161,019
2025
£
575		 2024
Total
activities
£
76,076
7,827
1,786
1,265
16,103
5,063
8,962
683
536
5,936
1,557
2,277
910
1,440
6,399
136,820
2024
£
910

10. NET INCOME/(EXPENDITURE)

11. TRUSTEES' REMUNERATION AND BENEFITS

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

Trustees' expenses

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

continued...

Page 17

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025

12. NUMBER OF EMPLOYEES

The average monthly number of employees during the year was:

2025 2024
Chief Executive 1 1
Finance and Administration Manager 1 1
Services Co-ordinator 1 1
Rehabilitation Co-ordinators 3 2
Executive Assistant 1 1
Counsellor 0 1
Rehabilitation Assistant 0 1
Marketing Assistant 0 1
ABI Link Worker 1 1
8 10

13. TANGIBLE FIXED ASSETS

COST
At 1 April 2024
Additions
At 31 March 2025
DEPRECIATION
At 1 April 2024
Charge for year
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024		 Long
leasehold
£
245,000
-
245,000
-
-
-
245,000
245,000		 Plant and
machinery
£
845
-
845
845
-
845
-
-		 Fixtures
and
Computer
fittings
equipment
£
£
10,694
18,671
1,270
1,105
11,964
19,776
10,656
17,980
155
420
10,811
18,400
1,153
1,376
38
691		 Totals
£
275,210
2,375
277,585
29,481
575
30,056
247,529
245,729

Land and buildings with a carrying amount of £245,000 were revalued in September 2021 by a RICS registered independent valuer not connected with the charity on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

At 31 March 2025, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £172,139 (2024 - £172,139).

The revaluation surplus is disclosed on the balance sheet.

continued...

Page 18

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025

14. FIXED ASSET INVESTMENTS

MARKET VALUE
At 1 April 2024
Revaluations
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024
There were no investment assets outside the UK.
Cost or valuation at 31 March 2025 is represented by:
Valuation in 2025
15.
STOCKS
Stock of materials
16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
17.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 Listed
investments
£
67,561
253
67,814
67,814
67,561
Listed
investments
£
67,814
2025
2024
£
£
500
32
2025
2024
£
£
32,805
18,202
3,203
3,203
4,203
3,621
40,211
25,026
2025
2024
£
£
2,216
1,870
5,156
3,667
900
189
25,199
19,685
33,471
25,411

continued...

Page 19

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025 2024
£ £
Other loans (see note 19) 20,000 20,000

19. LOANS

The loan of £20,000 from Surrey County Council is unsecured and is for an indefinite period, and will only be repayable in the event of liquidation. The loan is interest-free and is measured at the amount received. No repayments have been made nor an interest accrued as none is due.

20. MOVEMENT IN FUNDS

Unrestricted funds
Designated fund: Strategic Development fund
Designated fund: Bursary fund
General unrestricted funds
Revaluation reserve
Restricted funds
Fixed asset donation
Projects
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
Designated fund: Strategic Development fund
-
General unrestricted funds
224,139
224,139
Restricted funds
Projects
149,171
TOTAL FUNDS
373,310		 Net
movement
At
At 1.4.24
in funds
31.3.25
£
£
£
67,561
253
67,814
717
-
717
134,325
24,696
159,021
72,861
-
72,861
275,464
24,949
300,413
78,000
-
78,000
16,610
15,616
32,226
94,610
15,616
110,226
370,074
40,565
410,639
Resources
Gains and
Movement
expended
losses
in funds
£
£
£
-
253
253
(199,443)
-
24,696
(199,443)
253
24,949
(133,555)
-
15,616
(332,998)
253
40,565		 At
31.3.25
£
67,814
717
159,021
72,861
300,413
78,000
32,226
110,226
410,639
24,949
15,616
40,565

continued...

Page 20

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025

20. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
Designated fund: Strategic Development fund
Designated fund: Bursary fund
Designated fund: Carers pilot
General unrestricted funds
Revaluation reserve
Restricted funds
Fixed asset donation
Projects
TOTAL FUNDS		 Net
movement
At 1.4.23
in funds
£
£
92,734
(25,173)
226
491
105
(105)
114,728
19,597
72,861
-
280,654
(5,190)
78,000
-
15,190
1,420
93,190
1,420
373,844
(3,770)		 At
31.3.24
£
67,561
717
-
134,325
72,861
275,464
78,000
16,610
94,610
370,074

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

Unrestricted funds
Designated fund: Strategic Development fund
Designated fund: Bursary fund
Designated fund: Carers pilot
General unrestricted funds
Restricted funds
Projects
TOTAL FUNDS		 Incoming
resources
£
-
386
-
230,235
230,621
49,917
280,538		 Resources
expended
£
(31,306)
105
(105)
(210,638)
(241,944)
(48,497)
(290,441)		 Gains and
Movement
losses
in funds
£
£
6,133
(25,173)
-
491
-
(105)
-
19,597
6,133
(5,190)
-
1,420
6,133
(3,770)		 Gains and
Movement
losses
in funds
£
£
6,133
(25,173)
-
491
-
(105)
-
19,597
6,133
(5,190)
-
1,420
6,133
(3,770)
(5,190)
1,420
(3,770)

Restricted Funds

Fixed asset donations were received for the purchase of fixed assets for continued use by the charity. A balance of £75,000 relates to the Lottery Fund grant for property which is not depreciated and a further £3,000 relates to a donation towards a new door for the premises.

Grants were received from several entities towards specific projected, including the National Lottery.

Unrestricted Funds

o The Strategic Development Fund (SDF) is held for projects which aim to secure and expand the provision of future services and help more people suffering with acquired brain injury. It consists substantially of the charity's investment portfolio and the gain or loss on the value of investments is included within income or expenditure.

o The Temporary employee fund, previously the Link Worker fund, provides funding to fill short term roles that meet the aims of the SDF. If a role becomes permanent, expenditure will then be met by unrestricted reserves.

continued...

Page 21

HEADWAY SURREY HEAD INJURIES ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025

20. MOVEMENT IN FUNDS - continued

o The Bursary fund is available for clients undergoing financial hardship, to ensure their continued access to Headway Surrey's services.

21. EMPLOYEE BENEFIT OBLIGATIONS

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to income and expenditure in respect of defined contribution schemes was £4,395 (2024 - £4,047).

22. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

Page 22

Headway Surrey Head Injuries Association Limited. Final Accounts 2025

Final Audit Report

2025-10-21

Created: 2025-10-20 By: Katharine Halsall (katiehalsall@caldwellpenn.com) Status: Signed Transaction ID: CBJCHBCAABAA0O9JZQSp_JZvEncZlc2PYD2q-vypoM1l

"Headway Surrey Head Injuries Association Limited. Final Accou nts 2025" History

2025-10-20 - 11:51:58 AM GMT

Signature Date: 2025-10-20 - 12:38:05 PM GMT - Time Source: server

Agreement completed.

2025-10-21 - 6:41:59 AM GMT