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2024-03-31-accounts

Company Registration Number 3006904 Registered Charity Number 1049698

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE)

REPORT AND ACCOUNTS For the year ending 31 March 2024

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

The Trustees, who are also Directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name Headway Arts Charity registration number 1049698 Company registration number 3006904 Registered office Headway ArtSpace, The Old Church, Waterloo Road, Blyth, Northumberland NE24 1BY

Trustees

For the purposes of the Companies Act 2006, the Board of Trustees is the Board of Directors of the charitable company and is referred to as the Trustees throughout this report.

The Trustees of Headway Arts during the period and to the date of signing this report are as follows:

Ms S Fawcett Mr D Fraser Appointed 17 January 2024 Ms J Hall Appointed 8 August 2023 Mr P D James Ms L Neslund Company Secretary Mrs F M Castle Bankers Barclays Bank plc, 3 Northumberland Square, North Shields, NE30 1QX

Independent Examiner Mr P O’Hara FCA, Chartered Accountant, 26 La Sagesse, Jesmond, Newcastle upon Tyne NE2 3AF

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Documents

Headway Arts is a charitable company limited by guarantee, incorporated as Headstrong Productions on 6 January 1995 and registered as a charity on 9 October 1995.

It was established under the Memorandum of Association that established its objects and powers and is governed under its Articles of Association, as amended by special resolutions dated 30 June 2000 and 21 November 2005.

The company changed its name from Headstrong Productions to Headway Arts by means of a special resolution passed on 18 November 2015.

The Directors of the company are also Trustees of the charity.

2

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

For the year ended 31 March 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)

Governing Documents (Cont.)

Eligibility for membership of the charity, and membership of the Board of Trustees, is governed by the Memorandum and Articles of Association. There are no restrictions in the governing document on the operation of the charity other than those imposed by general charity law.

Charitable Purpose

Headway Arts’ charitable objectives are ‘to advance education for the public benefit through the promotion of the arts with particular but not exclusive reference to the dramatic arts’.

Principal Activity, Aims and Objectives

In delivering our charitable purpose we strive to offer high quality arts and cultural participation opportunities to communities in Northumberland and beyond.

Our aims are to:

Our values are that:

Structure and Governance

The charity currently has a board of five non-executive Trustees.

The Board meets a minimum of four times per year and conducts an Annual General Meeting, typically in November.

Detailed written Board reports and an agenda are prepared by the Chief Executive and circulated in advance of meetings.

3

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

For the year ended 31 March 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)

Recruitment and Appointment of Board of Trustees

Trustees are elected to the Board as necessary, with regard to any specialist skills required on the Board, based on discussions and recommendations offered by Trustees and outside advisors to the organisation. Trustees are re-appointed annually.

Trustee Induction and Training

New Trustees are briefed on their legal obligations under company and charity law, our Memorandum and Articles of Association, the operation of the Board and its decision-making processes, future plans and recent performance to support their understanding of Headway Arts’ activities.

They are encouraged to attend appropriate training, are made aware of Charity Commission publications and online guidance and are encouraged to provide feedback.

Policies on Reserves

The Trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission.

The Trustees aim to hold a level of Unrestricted Reserves sufficient to meet the costs of essential salaries and overheads for a 3 to 4 month period which would allow for the orderly winding down of the operation in the unlikely event that the Trustees so decided.

At present, the Trustees estimate that the Unrestricted Reserves required for such purposes would be in the range of £40,000 to £50,000.

Headway Arts’ current Unrestricted Reserves are £36,227 at 31 March 2024. Free Reserves, defined as Unrestricted Reserves minus the value of Unrestricted Tangible Fixed Assets, are £24,842.

The Trustees aim, through their budgeting and financial management processes, to restore Unrestricted Reserves to within the aspirational range within 2-3 financial years to ensure the charity can run efficiently and meet the needs of the beneficiaries.

This policy will be reviewed by the Trustees on an annual basis as part of the charity’s budgeting processes.

The Charity's grant making policies

The charity does not currently engage in grant-making activity.

The contribution of volunteers

The charity makes extensive use of volunteers within its productions and to support its activities.

4

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

For the year ended 31 March 2024

OBJECTIVES AND ACTIVITIES

Public Benefit

The Trustees understand and have discussed the implications of the provisions of the Charities Act 2006, which state that all charities must demonstrate that they are established for public benefit and have had due regard to the public benefit guidance issued by the Charity Commission. The Trustees believe that the charity meets both of the key principles.

Principle 1 - There must be an identifiable benefit, or benefits.

Headway Arts’ activities include a core commitment to the promotion of the arts, enabling the personal development of those in our care and providing a benefit to the wider community.

Principle 2 - Benefit must be to the public, or a section of the public.

Engagement in Headway Arts’ productions is open to people of all backgrounds who want to be part of the experience.

Headway Arts’ beneficiaries are therefore entirely appropriate to its aims and the public as a whole benefits from its work.

All of these benefits are clear, evidenced and relate directly to Headway Arts’ aims. In addition, the Trustees do not consider that any significant detriment or harm flows from Headway Arts’ work.

Risk Management

The Trustees of the charity regularly review (at least annually) the major governance, operational and financial risks which the charity faces as part of its annual business planning process and confirm that systems have been established to mitigate these risks.

Headway Arts has a risk management strategy in place which comprises:

These control systems have enabled Headway to return to a strong and stable financial position after experiencing some financial difficulties several years previously.

The Trustees have managed the potential impact of further financial risks by ensuring that:

The Trustees are satisfied that appropriate financial systems and controls and employment policies and practices are now in place.

5

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

OBJECTIVES AND ACTIVITIES (CONTINUED)

Risk Management (Cont.)

Other than financial the key risk to the organisation identified by the Trustees is the Board size and composition. The Board is currently at its minimum size and positive action is being taken to identify and recruit new members to the Board, particularly those with skills in finance, HR and legal issues.

6

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE

Summary of the main achievements of the charity during the year

Headway Arts have presented a wide-ranging schedule of arts activities this year covering Theatre, Dance, Circus, Visual Arts and live events featuring music, performance, exhibition and exposition of the Arts through debate and dialogue. Our programme has covered health, heritage, education, learning, social cohesiveness and just transitions, whilst, in the background, we have been seeking ownership and improvement to our building as a future long-term asset for Blyth. Having taken the decision to focus much more on our longer-term stability and securing funding from Arts Council England, the National Lottery and Henry Smith Charity we have been able to develop this exciting programme.

We have seen an increase in attendances from 585 in 2023 to over 5,582 in 2024. Around 90% of these attenders are new. This has largely been the result of an upsurge in people seeking new activities post-Covid and through new and existing partnerships in the town which have brought a wide range of people to our building.

We began the year intending to further develop the success of our online activities which seemed to be where the future platforms of our work was heading but instead we have responded to the high demand for in-building activities and a focus largely on Blyth. Through audience feedback we have noted a definite desire for people to attend new cultural activity, particularly within our quirky building.

Quotes from visitors:

We continue to have around 40 attendances a week as part of our Stars! daily sessions for adults who are neurodiverse or learning disabled. They continue to work with a changing rota of artists across art forms such as drama, music, printmaking, dance and circus, bringing new skills, confidence and resilience to people who are often overlooked.

Quotes from Stars! members:

“With my anxieties I think, I can’t do this and can’t do that - but taking part has made me realise that just because you have problems doesn’t mean you can’t achieve your dreams. Since I was a little girl my number one dream has been to be an artist, and I feel like one now.”

We have initiated a number of new partnerships that support organisations to use Headway Old Church and bring more people into contact with the Arts. Friends of Crofton Field, the Dialogue Society, local schools and the 22 cultural organisations involved in Blythfest, an annual snapshot of Blyth Culture running through June.

7

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of the main achievements of the charity during the year (Cont.)

In October we held our annual Come on Down festival of learning disabled culture. We were delighted that 128 people with a disability attended the event from 11 organisations including day centres from across Northumberland and disability arts organisations from the region. Now in its 15[th] year it still remains an essential platform for learning disabled art.

In December, as part of our annual Winter festival, our inclusive theatre company held a performance of a Christmas Carol (circus style) followed by an evening of music. We continue to look for and develop platforms for their work.

We have been able to extend our evening and weekend programme to the general public holding Creative Cafe wellbeing sessions featuring Gong baths and Shamanic Healing with weekly sessions by Blyth Samba band and Stitch and Mend. As the use of the building expands so do the requests to run sessions.

Financial Review

The out-turn for the year is an unrestricted surplus of £4,917 (2023: Deficit £26,456). The surplus will be added to Unrestricted Reserves, leaving a balance on Unrestricted Funds at 31 March 2024 of £36,227.

The Trustees consider the financial performance of the charity to be satisfactory and would wish to record their appreciation for the diligence and hard work of the staff, management and Board of Trustees during the year.

8

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Principal Funding Sources

Grants received in the year are listed in Note 4 to the accounts.

The charity is grateful to all such funders for their grant support during the year.

PLANS FOR FUTURE PERIODS

We continue to build strong local networks and partnership working that builds capacity in the area. Blyth Cultural Network are building on the success of Blythfest and continue to meet regularly, attracting new members and preparing for Blythfest 2024.

Walks for Social Change in partnership with Newcastle University attracts interest from a variety of local groups and we look to continue these in the coming years.

One of our major projects for next year will be A Community Play working with people of all ages from the Cowpen estate.

Through our role as an Arts Council NPO we will raise the contribution of a Northumberland based organisation to wider national debates on the Arts, particularly in areas of access and inclusion.

The establishment of our Heads Up! Programme will see learning disabled and neurodiverse artists become critical friends in a number of venues in Northumberland, offering invaluable critique to their shows and venues.

The desire to increase local capacity for cultural activities has driven our need for refurbishment for our building and its purchase to ensure it remains a long-term community asset for Blyth. We have secured further funding towards this over the year thanks to support from the Architectural Heritage Fund and Community Ownership Fund and more recently UKSPF. This has meant we can take our building plans created with Edable Architects nearer to planning permission stage.

We are also getting close to our 30th birthday so will be looking to programme and exciting range of activities in celebration for 2025.

As always, and at the core of everything, Headway Arts remains passionately committed to working with those in the community who are considered hardest to reach, particularly people who are learning disabled, neurodiverse or have enduring health issues.

9

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

For the year ended 31 March 2024

RESPONSIBILITIES OF THE TRUSTEES

The Trustees (who are also the Directors of Headway Arts for the purposes of company law) are responsible for preparing the Trustees’ Annual 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 charitable company and of the incoming resources and application of resources, including 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 proper 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. The Trustees 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.

Signed by order of the Trustees

Frances Castle Company Secretary Company Registration Number 3006904

9 September 2024

10

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS OF HEADWAY ARTS YEAR ENDED 31 MARCH 2024

I hereby report to the Trustees/Members of Headway Arts (Charity Registration Number 1049698) on the accounts for the year ended 31 March 2024 set out on pages 12 to 24.

Responsibilities and basis of report

As the charity’s Trustees (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 Accountant 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 or 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 (FRS102)).

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.

Pete O’Hara, FCA, Chartered Accountant

Fellow of the Institute of Chartered Accountants in England & Wales

26 La Sagesse, Jesmond, Newcastle upon Tyne NE2 3AF

9 September 2024

11

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Note
Income
Income from Investments
2
Donations & Legacies
3
Income from Charitable Activities
4
Total Income
Expenditure
Expenditure on Charitable Activities
5
Total Expenditure
Net Income/(Expenditure)
Balance brought forward at 1 April
Balance carried forward at 31
March
13		 Unrestricted
Funds
Restricted
Funds
Total 2024
Total 2023
£
£
£
£
-
-
-
-
1,221
4,058
5,279
4,044
230,071
91,545
321,616
219,093
231,292
95,603
326,895
223,137
226,375
86,121
312,496
288,668
226,375
86,121
312,496
288,668
4,917
9,482
14,399
(65,531)
31,310
18,023
49,333
114,864
£36,227
£27,505
£63,732
£49,333

The notes on pages 14 to 24 form part of the financial statements.

All of the activities of the company are classed as continuing.

The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

12

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION/BALANCE SHEET AS AT 31 MARCH 2024

2024 2023
Notes £ £
Fixed Assets
Tangible Fixed Assets 9 16,972 25,990
Current Assets
Debtors 10 19,502 22,471
Cash At Bank & In Hand 47,171 22,366
66,673 44,837
Creditors – Amounts Falling Due Within 1 Year 11 (19,913) (21,494)
Net Current Assets/(Liabilities) 46,760 23,343
Total Net Assets 12 £63,732 £49,333
Represented by:
Unrestricted Reserves 13 36,227 31,310
Restricted Reserves 13 27,505 18,023
£63,732 £49,333

The notes on pages 14 to 24 form part of the financial statements.

The Trustees are satisfied that for the year ended 31 March 2024 the charity was entitled to exemption under section 477(2) of the Companies Act 2006.

The Trustees also confirm that the Members have not required the charity to obtain an audit in accordance with section 476 of the Companies Act 2006

The Trustees acknowledge their responsibilities for:

(i) ensuring that the charity keeps adequate accounting records which comply with section 386 of the Act, and

(ii) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity.

These financial statements were approved and signed by a Member of the Board of Trustees on 9 September 2024.

1. Natund

L Neslund Trustee Company Registration Number 3006904

13

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting Policies

Basis of Accounting

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006 and the Statement of Recommended Practice (Charities SORP FRS 102) "Accounting and Reporting by Charities" and the Charities Act 2011.

The financial statements have been prepared on the historical cost basis, modified to include certain financial instruments at fair value.

Advantage has been taken of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a statement of cashflows.

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

Taxation Status

Headway Arts is a Charity registered under the 1960 Charities Act and is accorded exemption from liability to taxation on its income under S505 Income and Corporation Taxes Act 1988.

Going Concern

There are no material uncertainties about the charity's ability to continue.

Income

All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy.

The following specific policies are applied to particular categories of income:

14

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting Policies (Continued)

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:

Tangible Fixed Assets and Depreciation

Capital items costing over £250 are capitalised and included in fixed assets.

Depreciation is provided on any fixed assets at rates calculated to write off the assets over their remaining useful lives as follows:

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial Instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost where there is a material adjustment.

15

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting Policies (Continued)

Fund Accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the purposes of the charity.

Designated funds are unrestricted funds earmarked by the Trustees for specific purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no significant judgements or estimation uncertainty included within the financial statements.

Pensions

Headway Arts contributes to a defined contribution pension scheme. Further details can be found in Note 8.

For the defined contribution scheme, the amount charged to the Statement of Financial Activities in respect of pension costs is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the Balance Sheet.

2. Income from Investments

Bank Interest Receivable
ncome from Donations & Legacies
Donations		 Unrestricted
Funds
£
Restricted
Funds
£
2024
£
2023
£
-
-
-
-
£-
£-
£-
£-
Unrestricted
Funds
£
Restricted
Funds
£
2024
£
2023
£
1,221
4,058
5,279
4,044
£1,221
£4,058
£5,279
£4,044

3. Income from Donations & Legacies

Of the 2023 total of £4,044, £1,825 related to Unrestricted Funds and £2,219 to Restricted Funds.

16

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

4. Income from Charitable Activities

ncome from Charitable Activities
Earned Income
Project Fees
Other Earned Income
Grant Income
1989 Willan Charitable Trust
Architectural Heritage Fund
Arts Council England – National Portfolio
Organisation
Arts Council England – Seeing Making
Talking
Banks Community Fund via County
Durham Community Foundation
Blyth Town Council
EDF Blyth Offshore Community Benefit
Fund at the Community Foundation of
Tyne & Wear and Northumberland
Erasmus+
European Social Fund (ESF)
Heart of Blyth
Henry Smith Charity
National Lottery Heritage Fund - Crofton
Mill Pit
National Lottery Community Fund (NLCF)
– Reaching Out
NLCF – Cowpen Community Play
Community Ownership Fund
NCC Community Chest
Newcastle Building Society
Postcode Neighbourhood Trust
Scope Connecting Communities Grant
Ridley Family Charity
Ryder Architecture
Sir James Knott Trust
Wellbank Foundation		 Unrestricted
Funds
£
Restricted
Funds
£
2024
£
2023
£
79,030
-
79,030
75,101
13,353
-
13,353
2,519
92,383
-
92,383
77,620
-
-
-
7,600
-
-
-
13,495
96,000
-
96,000
-
-
-
-
(300)
-
-
-
4,575
5,000
-
5,000
10,000
-
-
-
3,600
-
(2,905)
(2,905)
48,319
-
-
-
709
-
2,400
2,400
3,275
-
47,200
47,200
-
-
6,990
6,990
-
-
20,000
20,000
20,000
-
17,860
17,860
-
8,748
-
8,748
-
7,940
-
7,940
-
-
-
-
2,600
15,000
-
15,000
-
-
-
-
7,000
-
-
-
2,000
-
-
-
10,000
5,000
-
5,000
5,000
-
-
-
3,600
137,688
91,545
229,233
141,473
£230,071
£91,545
£321,616
£219,093

Of the 2023 total of £219,093, £99,620 related to Unrestricted Funds and £119,473 to Restricted Funds.

17

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

5. Expenditure on Charitable Activities

Expenditure on Charitable Activities
Project Delivery Costs
Materials/Project Costs
Contract Workers
Wages & Salaries
Support Costs
Travel & Subsistence
Bad Debts
Office Costs
Premises Costs & Room Hire
Repairs & Maintenance
Insurance
Depreciation
Governance Costs
Accountancy Fees
Legal & Professional Fees		 Unrestricted
Funds
£
Restricted
Funds
£
2024
£
2023
£
-
17,302
17,302
33,592
4,430
15,818
20,248
25,020
147,353
47,200
194,553
163,657
151,783
80,320
232,103
222,269
1,991
-
1,991
553
8,198
-
8,198
214
5,012
-
5,012
2,187
13,202
-
13,202
26,562
21,132
-
21,132
2,621
11,232
-
11,232
6,251
6,138
5,801
11,939
13,713
66,905
5,801
72,706
52,101
710
-
710
2,304
6,977
-
6,977
11,994
7,687
-
7,687
14,298
£226,375
£86,121
£312,496
£288,66
8

Of the 2023 total of £288,668, £127,901 related to Unrestricted Funds and £160,767 to Restricted Funds.

6. Net Income/(Expenditure)

Net income/(expenditure) is stated after
charging/(crediting):
Independent Examiner’s Fees
Depreciation – Owned Assets		 2024
£
2023
£
1,152
1,152
11,939
13,713

18

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

7. Staff Costs/Trustees’ Remuneration

Staff Costs/Trustees’ Remuneration
Gross Salary Costs
Pension Costs
Social Security Costs
 2024
£
2023
£
178,264
149,789
12,069
3,711
4,220
10,157
£194,553
£163,657

No employee received remuneration of more than £60,000 during the year (2023 - Nil).

The average number of staff employed during the year, calculated as full-time equivalents, was as follows:

was as follows:
2024 2023
No. No.
Artistic Production and Support 6 5

No remuneration was paid to or waived by Trustees/Directors in the year (2023: Nil) and no travel and subsistence expenses (2023: None) were reimbursed to Trustees in respect of their attendance at meetings of the charity.

There were no transactions undertaken by, or on behalf of the charity, in which any Trustees or a connected person had a material interest during the year to 31 March 2024 (2023: Nil).

8. Pension Scheme

Pension benefits are provided through a Group Personal Pension Scheme, which is a defined contribution scheme. The assets of the scheme are held separately from those of the company in a separately administered fund. In the year to 31 March 2024 Headway Arts made an employer's contribution of 3% of pensionable pay, provided that the employee makes a minimum contribution of 5%.

These amounts are paid over to the scheme on a monthly basis. Contributions totalling £4,014 were outstanding at 31 March 2024 (2023: £1,925).

19

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

9. Tangible Fixed Assets

Leasehold
Property
Improvements
£
IT
Equipment
£
Fixtures,
Fittings &
Equipment
£
Total Fixed
Assets
£
Cost
At 1 April 2023
57,120
10,001
62,484
129,605
Additions in year
-
-
2,921
2,921
Disposals
-
-
-
-
At 31 March 2024
57,120
10,001
65,405
132,526
Accumulated Depreciation
At 1 April 2023
45,517
9,156
48,942
103,615
Charge for year
5,801
422
5,716
11,939
Disposals
-
-
-
-
At 31 March 2024
51,318
9,578
54,658
115,554
Net Book Value
At 31 March 2024
£5,802
£423
£10,747
£16,972
At 1 April 2023
£11,603
£845
£13,542
£25,990
10.
Debtors
2024
£
2023
£
Trade Debtors
16,078
10,961
Accrued Income – Grant Funding
1,811
10,940
Accrued Income - Other
-
423
Prepayments
1,613
147
£19,502
£22,471		 Leasehold
Property
Improvements
£
IT
Equipment
£
Fixtures,
Fittings &
Equipment
£
Total Fixed
Assets
£
57,120
10,001
62,484
129,605
-
-
2,921
2,921
-
-
-
-		 Leasehold
Property
Improvements
£
IT
Equipment
£
Fixtures,
Fittings &
Equipment
£
Total Fixed
Assets
£
57,120
10,001
62,484
129,605
-
-
2,921
2,921
-
-
-
-
57,120
10,001
45,517
9,156
5,801
422
-
-		 65,405
132,526
48,942
103,615
5,716
11,939
-
-
51,318
9,578		 54,658
115,554
£5,802
£423		 £10,747
£16,972
£13,542
£25,990
2024
£
2023
£
16,078
10,961
1,811
10,940
-
423
1,613
147
£19,502
£22,471

All sums are due within 1 year.

20

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

11. Creditors – Amounts Falling Due Within 1 Year

Taxes & Social Security Costs
Pension Scheme Creditor
Sundry Creditors
Accruals
Analysis of Net Assets between Funds
Fixed Assets
Debtors
Cash at Bank and In Hand
Creditors – Amounts Due Within 1 Year
Unrestricted
Funds
Restricted
Funds
£
£
11,385
5,587
17,691
1,811
27,064
20,107
(19,913)
-		 2024
£
2023
£
-
3,538
4,014
1,925
-
1,562
15,899
14,469
£19,913
£21,494
Total
2024
Total
2023
£
£
16,972
25,990
19,502
22,471
47,171
22,366
(19,913)
(21,494)
£36,227
£27,505		 £63,732
£49,333

12. Analysis of Net Assets between Funds

21

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

13. Analysis of Charitable Funds

Unrestricted Funds
Charity General Fund
Restricted Funds
Banks Community Fund via County Durham
Community Foundation
Coastal Revival Fund
Donations – Australia Conference
Erasmus+
Heart of Blyth – Blythfest 2023
Heart of Blyth – Blythfest 2024
Henry Smith Charity
National Lottery Community Fund – Cowpen
Community Play
National Lottery Community Fund – Reaching
Out
National Lottery Heritage Fund - Crofton Mill
Pit
Wellesley Trust (Building Improvements)
Total Restricted Funds
Total Funds		 Fund at 1
April
2023
£
Incoming
Resources
in Year
£
Resources
Expended
in Year
£
Fund at
31 March
2024
£
31,310
231,292
(226,375)
36,227
3,660
-
(3,660)
-
10,099
-
(4,909)
5,190
-
4,058
-
4,058
-
(2,905)
2,905
-
2,975
-
(2,975)
-
-
2,400
(2,400)
-
-
47,200
(47,200)
-
-
17,860
-
17,860
-
20,000
(20,000)
-
-
6,990
(6,990)
-
1,289
-
(892)
397
18,023
95,603
(86,121)
27,505
£49,333
£326,895
£(312,496)
£63,732

*Though £46,145 from Coastal Revival Fund and £9,549 from the Wellesley Trust was received and fully spent in the year to 31 March 2017 on the capital redevelopment of Headway ArtSpace, the required accounting treatment releases the grants over the period of the lease, matching the annual depreciation of the capital improvements.

22

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

13. Analysis of Charitable Funds (Cont.)

Name of Restricted Fund

Description, Nature & Purpose of the Restricted Fund

Banks Community Fund via County Durham Community Foundation

Towards the cost of new staging

Coastal Revival Fund*

To fund a programme of building improvements

Donations – Australia Conference

Towards the attendance of a conference in Australia in 2024/25

Erasmus+

To fund the Different Ways For Different Days European partnership

European Social Fund

To fund capacity building

European Social Fund (Releasing To fund the Releasing Potential project Potential)

Heart of Blyth – Blythfest 2023 Towards the costs of Blythfest 2023

Heart of Blyth – Blythfest 2024 Towards the costs of Blythfest 2024

Henry Smith Charity Towards the core salaries and running costs, excluding redundancy and legal fees

National Lottery Community Fund – Towards the costs of developing a community Cowpen Community Play play

National Lottery Community Fund – Towards the costs of Reaching Out - activities Reaching Out with adults with learning disabilities across Northumberland

National Lottery Heritage Fund - Crofton Towards the costs of developing the Crofton Mill Mill Pit Pit project

Wellesley Trust (Building Improvements)*

To fund a programme of building improvements

23

HEADWAY ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

14. Taxation

The company is a registered charity and no provision is considered necessary for taxation.

15. Financial and Capital Commitments

No material financial and/or capital commitments have been made in respect of future financial periods (2023: None).

16. Legal Status

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. The company law members of the charity are the members of its Board of Trustees.

The charity is incorporated under the Companies Act 1985 and is limited by guarantee, each member having undertaken to contribute such amounts not exceeding £1 as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter.

24