Reglstsred number: 03690891 Charity number: 1075469 HEADWAY BEDFORD (A company Ilmlted by guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
HEADWAY BEDFORD IA company limited ty guarant) CONTENTS Page Reference and •dmlnl$tratlve detall# ol the chartty. its tru8tee$ and advlsern TN$t¢es' roport Indepèndent •xamin•rf8 loport Stat•ment ol flnanclal actlvlt5 8alnc• •heet 9-10 Notes to thè Ilnnclal 8t*t•m•nts 11-24
HEADWAY BEDFORD IA company limited by guarantsel REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022 Trustsos Dr Linda Candila Eamon Mct)onnell Maria Disapia Company wl8tered number 03690891 Charlty r•gl$ter•d nUMr 1075469 Ro918tered offlco Headway House Bedford Heatth Village Kimbollon Road Bedlord MK40 2NT Chlef •x•¢utlv• offle8r and company se¢r•tary Christopher Batten Ind•p•nd•nt •x•mln•r MHA Chartered Accountants Century House The Lakes Northampton NN4 7HD Bankèrn TSB Bank plc Barton-le-clay Bedford$hire Page 1
HEADWAY BEDFORD IA company Ilmited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDEO 31 DECEMBER 2022 The Tfuslees present their annual report together wilh the finan¢k41 stslements of the Company for the year ended 31 December 2022. The Annual Report serves the purposes of both a Trustees. report and a directors. report Ltnder MpanY law. The Tru51ees confirm that the Annual Report and financial statements of the charitsble company comply vAth the current statutory requirements. the requirements of the charitabl6 company's governing document and the provisn$ of the Statement of Recommended Practice ISORPI 8pplicable lo charities preparing their ants in accordance th the Finanual Reporting Stsndard applicable in the UK and Republic ol Ireland IFRS102) {eife¢ts've 1 January 20191. Since the Gompany qualthes as small under Sect 383. the strategic report required of medium and large eompanles under The Companies Acl 20C6 IStr81eg¢ Report and Directorfs Report) Regulations 2013 is not required. OBJECTIVES AND ACTMTIES . OBJECTIVES The acliwtles of the charltsble company are to provKle fehabilitaiion and supwrt to people who have suffered brain inlury, including strokes. their familie¥ and carers and lo prwde services and tscilitw for such persong. b. PU8LIC BENEFIT The Trustees have gNen consideration to ihe Charity Commtssion's general guidance on public benefit when reviewing the charity's objects and planning rts aclivitses. We assist our clients by provhling a holistic approach to the rehabilitation process. The positive impact ol our Serv includes structured activities In a slimulalin9 environment. a Central venue that nUrage$ an(1 challenges indNKluals and that fxilit*es much needed peer support, goal settin9 which encourages client participation and ongoing progress, community reintegration, reduced feelings of Is0¢atn, increased confidence and mob"vatKJn, a support nefvrk for carers, and providing respite lor carers. c. ACHIEVEMENTS AND PERFORPW4CE 2022 was the third year of the pandemic. Some remote working via video link continued. mainly due to the need to maintain social distancing at the centre. Our structured group sessions nt themselves particularty well lo deo conferencing and ihe key staff involved continued lo practKe the skills needed lo preserve essential inleractsve parts'cipalion in lor communty rehabilitation in a"purp)seful but fun. way for around 90 dients. Some further additional expenditure in IT equipment was required. As in the previous year. some clients (ab)Lrt 25%) were unable to aecess semces via video conferencing for various reasons. A number were helped to do this by their Headway key workers and in other cases supported by regular phone calls to deal th the inev¢table problems caused by s¢Krdl lath"On. In facL all our ¢lients whether able to use IT technology or no( were also SUprted in this way. All $tsff were back lo working phySKa1 from the centre. The need to mainlain social distancing in the space available limited the client numbers who couKI attend physully, and so"hybrid" working for group sessions was used remote attendees accessing group sessK)ns at the same time as those attending physically. The number of new referrals during the year totslled 70. almost the same as in 2019. However, the 'patch nature of these refiecled the continuing effects of the pandemtc on the other agencies in the Health and Social care system. About 50% of the referrals were inappropriate for our services. Our client numbers stsrted to drop, particulady those funded by Sockal ServKes. The drop in funding from this source is the main cause of the signrficanl deficrt pOrted elsewhere in these accounts. 11 is a continuing problem in 2023 and is teing P2
HEADWAY BEDFORD IA Company limit¥d by guarantsèl TRUSTEES. REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2022 It was the fifteenth lull year in the iefuibished and improved emeS moved into in 2CQ7. Development of the 1nffas1ruclu for key working and goal setting with our clients conlinue(I, and the provision of cognitive exercises al Ix)th group and indwidual levels., the speech therapy. physiolherapy and cUpatiOnal therapy all continued to in our clients. fehabililabon. Our tutored art and uaft work e.g.. digital photography and ¢ookery, was restored Idropped in pVIouS pandemi¢ years), but 'mindfulness' sessions conb'nued. Fatigue management, run by our O.T. continued. Group singing. for those with speech impairrnents, continued lo work well over a vKleo Ilnk combining off-site and on sile clts.. We conlinueé lo devebp our systems for 'personali8atitin.' IAS in previous years we had been able lo demonstrate that our key workn'ng and goal seth'ng apwoaches could be linked lo imwoved outcomes in this universal Irameworkl. Our three main stalLrtory fijnders ¢onlinued to be the NHS and the 8edford Borough and Central 8edfofdshire Social SeNices teams. The NHS contract had teen rer*wed again unbl April 2024, although vth some aspects of il still needing attention. We continued lo be a placement provider fy Swal Servw students and trainee nulses and continued lo be supported throughout the year by around 50 volunteers. The Communty Brain Injury Advisor project (started in 2011) conts'nLl to provido soj for peopLg a brain injury who could not attend the centre or who had moved on. The Hafpur Trust, Panacea and Beds & Lulon Community Foundation funding having finished, the project continued to be supported by diiecl fundin9 on client-by dient basis by both bcal authorities. The Board would again like lo thank all the stsff and volunteers of Heathydy Bedford for their dedication and hard work throughout the year. ACTIVITIES . REVIEW OF ACTNMES There was a deficrt for the year before realised and unrealised revaluation profits on investments amounting to £30.270 (2021- £21.3471. The unrealised bss on investrnenl assets amounted lo £12812021- £3501. Unrestricted funds al 31 Decemter 2022 amounted to £278.266 12021.. £308,515). Restricted fvnds at 31 December 2022 amounted to £1.340 12021. £1.4891. b. INVESTMENT POLICY AND PERFORMANCE I fLtnds not required for immediate use are held interest tearirMJ bank dewl Page 3
HEADWAY BEDFORO IA company Ilmlt¥d by guaran) TRUSTEES. REPORT l¢ontinuedl FOR THE YEAR ENDED 31 DECEMBER 2022 FINANCIAL REVIEW a. GOING CONCERN After making appropriate enquiries, the trustees have a 8$Onable expectation that the company has adequate resources lo eontsnue in 0rational existence for the foreseeable luture. For this reason they continue to adopt the going concem basis in preparing the financial statements. Further details regarding the adoption ol the going concern basis can be fountj in the Accounting Policies. b. RESERVES POLICY 11 is the policy of the tru$lee$ nol lo hold specthc reserves. The PUfF4)se of the unrestrieted funds I'lree reserves'l is to provide all services as sel out elsewhere in this report. In general, the aim Is lo maintain liqu assets al a level equwalenl lo six months operating costs. STRUCTURE, GOVERNANCE AND MANAGEMENT . CONSTITUTION The company is registered as a charitable company limited by guarantee by its Mem¢yar¢dum and Artic$ of Ass¢xiation dated 18 January 1999. The charilable company was fomed to take over the altieS of an unlncorporated charty, Headway House Bedford, whose assets were transferred to the charitsble company on 1 January 1999, The Company has a registered charity number 1075469. The aclNilies of the charitable company are to pmwde rehabilitslion and supp)rt to people who have suffered brain injury, including strokes, their families and ca[5 and to provide Services and facilibes for such persons. b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the company is the fesFwbt1ty of ts Trustees who are elethd and eoyled under the terms of the Trust deed. c. ORGANISATIONAL STRUCTURE AND DECISION MAKING There is a Board of Trustees. all of whom a directors of the company. who consider all significant expenditure and other Tequests al their meetings. The charty employs a chief executsve who refers to the Board of Trustees as approprAte. d. RISK MANAGEMENT The main risk identified for on-going attention by the Board of Trustees contsnues to be the uncertainty of Statut¢ income fluctuations. An addthnal risk identified in 2014 concerned NHS reskx)nsibililies as landlords of our premises. These Changed as the al NHS PCT ceasefl to exist after Aplll 2014 and wa5 replaced by Bedfordshire CCG. A separate and new NHS organisalion - NHS Propety Services - is our landlord. During 2018 and 2019 the CCG mooted the possibilty that il might like to create a new intenswe stroke rehab faeility using Headway's premises Headway being Tebcated elsewhere. Although this idea was dropped for the time being after oppositi¢)n and ksbbying by Headway and ts supporters. rt may arise again and wll be kept under rewew. Page 4
HEADWAY BEDFORD (A company limited by guarantsèl TRUSTEES. REPORT {continuedl FOR THE YEAR ENDED 31 DECEMBER 2022 •. TRUSTEES The present membership of the Board is sel out on page l. Except as otherw5e noted, all trusleesldlre¢tor5 served throughout the year. One third ol the Board are required to retire or seek re*lection each year. Tiuslees ale invited lo join the Board generalty on the recommendation of exisb.ng trustees. The present membership of the Board is as sel out behyw. Dr Linda Candits Eamon McDonnell M8r¢a Disapia Trustees are appointed or reapFointed in accordance th the ArtKfes ofAssociation. f. TRAINING OF TRUSTEES The Iruglee8 are recruited for their we experience and there 1$ 4 eomprehensive induthn process on eommencemenl. There is a training programme for Iwstees. rf required. P&Je 5
HEADWAY BEDFORD {A Company limlted by guardnl••l TRUSTEES, REPORT (¢ontlnued} FOR THE YEAR ENDED 31 DECEMBER 2022 TRUSTEES. RESPONSIBILlEs STATEMENT The Trustees (who are also direct of Headway Bedford for the purposes of company kwl are responsible for preparing the Trustees, report and the financial stalemenls in ac¢ordan¢e wth applicable law and United Q'ngdom AOUntIng Standards Iunited Kingdom Generalty Accepted Accounting PraCte). Company law requires the Tfuslees to prepa financial stslements for each financial year. Under company law the Trustees must not approve the finanual statements unless they are Satisfied that they give a true and fair view of the state of affairs of the charitable company and of Ihe incoming reSoUS and appliealion of resources, including the income and experKlilure, of the tharitab company for that per. In prepari these financial stalemenls, the Trustees are required to.. select suitable accounbng policies and trn appty them consi$tenty'. observe the methods and principles in the Charities SORP.. make judgments and accounting estimate5 that are reasonable and prudent., prepare the linancBI statements on the going concern basis unless il is inapprowiale to presume that the hariiable company will continue in operats.¢. The Trustees a responslble for keewng adequate accounting records that are suffiaenl to Sh and explain the charitable companls transactions and disck)se vAth reas0nats accuracy at any time the financial position of the Charitable company and enable them to ensure that Ihe finanaal statements Comply wth the Companies Act 2006. They are also responsible lor saleguarding the assets ol the chantable company and hence for toking reasonable steps for the prevenlth and detection of lrnud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable companys website. Legislation in the Uniled Kingdom governing the preparab'on and disseminalion ol financial statements may differ from legislation in other iurisdthons. This report was approved ty the Trustees, on IEliollJ and signed on thwr behalf by.. Dr Llnda Candlta Chair of Trustees Page 6
HEADWAY BEDFORD IA company limited by guarante•} INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HEADWAY BEDFORD {the'¢ompany'l I report lo the charity Trustees i>n my examination of the accounts of the company for the year ended 31 December 2022 RESPONSIBILMES AND BASIS OF REPORT As the Tfuslees of the comparry land its directofs for the puTp05es of company lawl you are responsible for the PreParatn of the accounts in accofdance wth the requi¥ements of the Companies Act 20C6 I'lhe 20C6 A¢YI. Having satisfied myEelf that the counts of the company are not required to b8 audited under Part 16 of the 21%)8 A¢1 and are eligible for independent examination. I report in respect of my examination ol the company's aOuntS ¢arTied out under sects'on 145 of the Charrts Act 2011 1.the 2011 Aefi. In carying out my examination I have followed the Directions given by the Charity Commission undef seCtn 14515llbl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Since the companls gross income exceeded £250,000 your examiner must be a member of 8 body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the exarninatign because l am a member of ICAEW, whith 1$ one of the1Ssled bodies. I have completed my examlnab"on. I can confirm thal no matters have wme lo my attenn in connection the examinatton giving me cause to belwe.. accounting records were not kept in respect of thg company as required by section 388 of the 2006 Act,. the a¢Unts Ilo not accord wth those &vdS., or Ihe accounis do not comply wrth the accounts.ng requirements of seclion 396 of the 2006 Ael other than any requirement that the accounts gNe a Irue and fairf eW is rlot a matter considwed as part of an independent examinalbon,. or the accounts have not been prepared in accordance the methods and principles of the Statement of Recommended pract for aceounling arKI repon9 by charities lapplicable to chantses preparing Iheii accounts in accordance vnth the Financial Reporbng Standard applb in the UK and Republic of Ireland IFRS 10211. I have no concems and have come across no other matter5 in connection wlh the examinalk)n lo which attention should be drawn in this reFQrt in order to eTrab a proper undeT5tanding of the accoun151o aChed. Signed.. Adam Young ACA (member of ICAEWI MHA Chartered Accounlants Century House The Lakes Northampton NN4 7HD Page 7
HEADWAY BEDFORD IA company limited by guarantee) STATEMENT OF FINANCIAL ACTlVtTIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Vnr•$trl¢t•d R¥strfcted fund$ funds 2022 2022 Total funds 2022 Total funds 2021 Note INCOME FROM: DonatK)n5 and voluntary incorne Charitable adivilies Investments 98,674 250,171 851 98.674 250.171 851 66,474 276,741 TOTAL INCOME 349.696 349.696 343,463 EXPENDITURE ON: Charilable aclivili¢$ 379,817 149 379,966 364.810 TOTAL EXPENDITURE 379.817 149 379,968 364.810 NET EXPENDITURE BEFORE INVESTMENT LOSSES Nel losses on investments 130,1211 11281 1149 130.2701 11281 {21,3471 13501 NET EXPENDITURE BEFORE OTHER RECOGNISED GAINS ANO LOSSES {30.2491 {30,3981 121,6971 NET MOVEMENT IN FUNDS 130.249} 11491 (30,3981 121,6971 RECONCILIATION OF FUNDS: Total funds brought forward 308,51S 1.489 310,004 331.701 278.266 279,606 310.004 TOTAL FUNDS CARRIED FORWARD The notes on pages 1110 24 fom part of these financial statements. The charrty has no reCniSed gains or los other than the rnsults for the year as set QLrt above. Page 8
HEADWAY BEDFORD IA company limited by guarnnteel REGISTERED NUMBER: 03690891 BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 FIXED ASSETS Tangible assets Investments 10 11 8,721 419 7.777 647 9.140 8,324 CURRENT ASSETS Debtors Cash al bank and in hand 12 71,589 271.235 33,264 336,308 342,824 369,572 CREDITORS: amounts falling due wthin one year 13 (72,3581 167,8921 NET CURRENT ASSETS 270.466 301.680 NET ASSETS 279.606 310.004 CHARITY FUNDS Reslricled fvnds Unrestricted funds 14 1,489 308.6IS 14 278.266 TOTAL FUNDS 279.606 310,004 Page 9
HEADWAY BEDFORD IA ¢ompany Ilmlted by guarantee) BALANCE SHEET (continued} AS AT 31 DECEMBER 2022 The companls financial statements have been prepared in accordance %wth the provisK•ns applicable to companies subject to the small compan*s regime and in acc4ydance with the piovisions of FRS 102 Section 1A- $mall entities. The Trustees consider that the company enbtjed to exempticm from the requlremenl lo have an audit under the provisions of sectrt 477 of the CoMpanS Act 20061lhe Acri and members have not required the company lo obtain an audit tor the year in qUeSth in accordance wth section 476 of the Act. The Trustees kn0VAedge their responsibilities for comptying the requirements of the Companies Act 2006 with respect to accounbng remrds and the preparab.on of financial statements. The financial statemen15 were approved and authortsed issue by the Trustees on18110I2023 and signed on their beh8if, by.. Chrf8 Batten hl¢f ExKuUvo Offi¢•r Dr Llnda Candlta ChalT of Tru#t•tr• The notes on pages 11 to 24 form part of those financial statements. Page 10
HEADWAY BEDFORD (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POLICIES 1.1 Basls of pitpartlon of financial $tal•m¢nts The financ1 statements have been prepared in accordance with Accounting and Reporting by Charits'. Statement of Recommended praCte appluble to charities preparing their accounts In accordan with the Financial Rewrting Stsnd8rd applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January 20191. the Financial Reports"ng Standard applicable in the UK and Republic of Ireland IFRS 102) and the Compan$ Act 2. Headway Bedford meets the definrtn of a pU1C benefil entity under FRS 102. Assets and liabilities are initially recognised al historKal cost or Iransactrln value unless othenvise Stated In the reievanl aeeounling policy. 1,2 RKonclllatSon wfth prn¥k>us G•n•ralty A¢¢•pt•d Accountlng Prn¢tl¢• In preparing these accounts, the Trustees have consred whether in applying the accounfjng policies required by FRS 102 an(1 the Charits"es SORP FRS 102 the restatement ol comparative items was required. No restatements were required. 1.3 Company ststus The company is a company limrted by guarantee. The members of the company are the Truslegs named on page 1. In the evenl of the company being wound up, the Ikqbility in respect of the guarantee is limited lo £1 F*r member of the mpanY. 1.4 Golng concern The financial stalements have been prepaRd on a going concern basis. The Trustees have cons¢dered relevant Inlomialn, including the annual budget, f0caSt future cash flows and the Impact of subsequent events in making their assessment The COMD 19 pandemic and the erssuing economic shutdown has had a signrfKant impact on the charilable company's operations. In response lo If+e COVID 19 pandemic, the Trustees have performed a robust analysis of forecast fvlure cash flows taking into account the polenbal impact on the business of possible future scenarios arising from the impact of COVID 19. This analysis also n$Klets the effectiveness of av8I1able measures to assist in Mgating the impact. The Trustees have not idenbfied any fvrther material uncertainties th81 may cast $anificant doubl about the ability of the charitable company lo Contrnue as a going concem. Based on these assessments and hawng regard to the resources availab to thè charitable company, the Tru51ees have concluded that there is no material uncertainty and that they can continue to adopt the going conwn basis in prepariThJ the annual report and accounts. Page 11
HEADWAY BEDFORD IA ¢ompany lim1t by guarnntttl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POLICIES ICONTINUEDI 1.5 Incom• l income is reccsnised once thè company has entiyement lo the income, it is probable that the income wll be recewed and the amount of income ieceNable can be measured reliably. For 9acleS. entitlemenl is taken as the eadr of the dale on which either.. the company is aware that probate has been granted. the estsle has been finalised and nobficalion has been made by the executorlsl to the Trust that a dislTibutKsn wll be made, or when a distribution is receNed from the estate. Receipt ol a legacy, in whole or in part, is onty considered probable when the amount can be measured reliably an(J the Company has been notified of the executorfs intention lo make a distributron. Where aCleS have been notified to the eompany, or U)e company is aware of the granting of probate. and the criteria for income reccJnrtwi have not been mgt, then the legacy IS Irealed as a eonlingent asset and disdosed rf material. Donated seryices or facilth.es are reojgnised vthen the c¢Jmp8ny has e4)nlrol over the item, any onditions associated wrth the donated item have been met, the CeIpt of economic benefit from the use of the company of the rtem is probable and th81 economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021. the general volunteer time is not recognised financlalty and refer to the Trustees. reFQrt for rre information atLrt their contribution. On receipt. donated professional serv$ and donated facilit$ are recognised on the basis of thg value ol the gift to the Company which is the amount the company Vuld have been willing lo pay lo obtain semces or facilities of equNalent econom benefit on the open market., a COrspOndIng amount is then rwnised in exF¢nditure in the of receipL Income lax recoverab in relation lo donatn$ feceNed under Grft or deeds of covenant is recognised al the time of the donabon. Income tax recoverablg in relatton lo investment income 15 recognised at the bme the investment income is receivab. 1.6 EXndftUrt Expentjilure is wognised once the is a legal or constructive obligation to transfer economic benefit to a Ihiid paty, it is probable that a transfer of economic beneffts will be required in setNemenl and Ihe amount of the obligation can be measured reliably. Expenditure is Classrfd by aclivty. The costs of each tiVrtY are mwje up of the total of direct costs and shared costs, including support Costs invofved in undertaking each actNity. Direct costs attributable lo a single actsvity are allocated direcvy lo that activty. Shared costs whsch contn.bute lo rnore than one acb'vity and support costs which are not attributable to a single activity are apportDned tseeen those activities on a basis eons15tent with the use of resources. Central stsff costs are allwled on the basis of time spent. and depleciatft Charges allocated on the portion of the asset's use. Governan costs are those IrTred in rnnectiOn wth administrat¥)n of the rnpanY and compliance with constitulw)nal and statutory requirements. Charrtable aCvitieS and Govemance t))sts are costs ined on the companls educalK•nal OFerats"ons, including SUPFQrt costs and sts relating to the govemance of the eompany apporticjned to charitable activities. Page 12
HEADWAY BEDFORD IA company lirnited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POLICIES ICONTINUEDI 1.7 Tanglble flxed ass•ts and deprn¢latlon l assets costing more than £250 are ¢aprtaltsed. A review for impaimienl of a fixed asset is carried cyjt rf events or changes in Circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls been the Carrying value of fixed assets and their recovwable amounts are recognised as impairments Impairment losses are recnISed in the Statemenl of financol a¢tM'tk?s ineorporab'ng income and expenditure ?oUnt. Tangible fixed assets are carried at eosl. net of dePtrOn and any provision for Impairment. DeprlatIOn is provle{l al rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the followin9 bases.. 25% Fixtures and fitts'ngs Long life equipment Tools and èquipment 25% 1.8 Inv••tments Fixed asset investments are a form of linancial instrument and are initially re¢cpJniged al their transaction cost and subsequenuy measured at fair value al the Balance sheet dale, unless fair value cannol be measured reliably in whKh Case il is measured al cost less impairrnenl. Investment 98ins and losses, whether realised or unrealised. are combined and shown in the heading 'Gainslllossesl on investments. in th¢ Statement of financial tivitieS incofporaling income and oxpendilure a¢unt. 1.9 Int•Mst r•¢•Svablt Interest on funds held on deposrt is included when receNable and the amount be rneasured reliably by the company. this is nomialty upon nolTfKabon of the interest pard or payabk by the Bank. 1.10 Dgbtorn Trade and other debtors are recc*Jnised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepahl nel of any trade discounts due. 1.11 Cash at Bank and In hand Cash at bank and in hand includes cash and short rni hvJhty Ihiuid investments with a short maturity of three months or less from the date of acquLSrtion or opening of the depow'l or Slmilar account. Page 13
HEADWAY BEOFORD (A Company Ilmlted by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEM8ER 2022 ACCOUNTING POLICIES (CONTINUED) 1.12 Llabilttie8 and provlsions Liab11ilies are recogntsed when there i8 an obligation at Ihe BalarKe sheet date 8$ a re$ull of a past event. it is Pfobable that a transfer of economic benefit W711 be required In settlernenl, and the amount of the settlement can be estimated ¥elobly. Lobililies are recogrtised al the amtsunt that the ompany anticipates il wll pay lo settle the debt or the amount il has re¢eived as advanced payments for the goods or services it must provide. Provisions are measured at Ihe best ests'male of the amounts required lo settfe the obligation. Whwe the effect of the tsme valuo ol money is material, the provisK)n is based on the present value ol those amounts, diseounted al the pre-tax discount rale that iefiects the risks spectfic lo the Ikability. The unwinding ol the discount is recognised wlhin Inte$1 payable and simikr charges. 1.13 Flnanc5#1 Instruments The company onty has financial assets and financial liabilities of a kind that qualify as b3sic financpl inslrumenls. Basic financial instrnments are inits.ally recognised at transaction value and subsequenuy measured al their setttemenl value the ex¢eptDn of bank loans vthich are subsequently measured at amortised cost using the effective interest methgd. 1.14 Pen8lon8 The company opefates a defined cOntributn pension scheme and the pension charge represents the amounts payable by the company lo the fvnd in respe of tho year. 1.16 Fund accountlng Gener81 funds are unreslrKte¢J funds which a available for use 01 the dwrebon ol the Trustees in furtherance of the general obpctives of the company and which have not been designated for other purposes. Restricted funds are funds which are lo be used in accordance wlh spwfic reslricts'ons imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering sueh funds are charged against the Specif fund. The aim and use of each reStrted lund is set out in the rK)les lo the financial statements. Page 14
HEADWAY BEDFORD IA company Ilmltèd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEfvI8ER 2022 INCOME FROM DONATIONS AND VOLUNTARY INCOME Vnrestrl¢t•d R1rf¢t¢d funds funds 2022 2022 Total lunds 2022 Total funds 2021 Other contracts Catering, outings and transport Donations Fundraising and collectlons Grants 3.240 4.586 22,234 64,324 4.290 3,240 4,586 22,234 64.324 4.290 15,663 2.096 B.704 32.361 7,650 Total donations and UnIary inMme 98.674 98,674 66.474 Total 2021 66,474 66,474 INCOME FROM CHARITABLE ACTIVITIES Unrnstrkted RMtrl¢ted fund$ funds 2022 2022 Total funds 2022 Totsl funds 2021 Day care contracts- NHS Day cafe contracts- Social soThices 165,3S6 84,815 165,356 84,815 161,331 115,410 2SO.171 250,171 276,741 Total 2021 276,741 276,741 Page 15
HEADWAY BEDFORD {A ¢ompany limited by guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 INVESTMENT INCOME Unrestrl¢t•d funds 2022 ReBtrict•d fund$ 2022 Total funds 2022 Total funds 2021 Dwidends Deposit interest 67 67 784 63 186 8S1 851 Total 2021 248 P•3e 16
HEADWAY BEDFORD {A Company Ilmlted by guarantse} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 DIRECT COSTS Total 2022 Total 2021 A¢tivities Catering and outsng$ Clvènl transport Therapy materials. facilty hire Computer equipment and sundry costs Volunteer Iravelling expenses Rates Health and safety Promobonal costs I g¢x#d$ Cleaning Building PaIrS. maintenance. security patro Service charge Telephone General travelling expenses Training and serninars National magazine 8n¢J Affiliation Postage and stslionery Insurance Sundry expenses Professional feès Bank charges HMRC Interest paid Recruilmenl costs Wages and sala National insurance Pension cost Depreciath"on 512 76 9.195 11,481 437 12,1561 2.778 612 76 9.196 11881 437 12.1581 2.778 183 6,897 6,697 185 1,245 2,302 4,723 1.125 18.862 7,476 1.171 16,140 433 1,666 1,485 19 627 2,280 2,486 288 228 7,476 1.171 16.140 433 1.666 IA85 19 627 2.280 2.486 288 228 4,834 230 2,255 1,804 270 3.780 288.613 22,517 3,405 1,817 3,780 288,613 22,S17 3,405 1,817 284,361 20,322 2,833 1.259 376.753 376,753 360,802 Total 2021 360.802 360.802 Page 17
HEADWAY BEDFORD IA company limited by guarantse NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Stsff costs D•preclation Oth•r costs 2022 2022 2022 Total 2022 Total 2021 Direct costs Expenditure on govemance 314,535 1,817 60,401 3,213 376,753 3,213 360.802 4.008 314.535 1,817 63.614 379.966 364.810 Total 2021 307,516 1.259 56,035 364,810 NET INCOMEIIEXPENDITURE} This is stated after charging.. 2022 2021 Depreciation of tangible fed assets.. - owned by the Charity 1.817 1,259 INDEPENDENT EXAMINER'S REMUNEFiATION The Independent Examinerfs remunerab'on amounts lo an Indepgndent Examinati fee of £3.21312021- £2,760) Page 18
HEADWAY BEDFORD {A company limited by guar4nteo1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 STAFF COSTS Stsff costs were as folk)ws.' 2022 2021 Wages and salaries Social security costs other pension costs 288.613 22.517 3.406 284,361 20.322 2,833 314,535 307.516 The average nurnter of persons employed by the comp8ny dullng the year wa$ as follows,. 2022 No. 12 2021 No, 14 No employee received romunernbon amounting lo more than £60,000 in either year. 10. TANGIBLE FIXEO ASSETS Flxlur•s and fittlng8 Long Ilf• •qulpment Tools and •qulpment Totsl Co8t At 1 January 2022 Additions 10.698 33,800 16.033 2,761 80.531 2,761 Al 31 December 2022 10,698 33,800 18.794 63,292 Depr•cl*tlon Al 1 January 2022 Charge for the year 9,085 516 27,782 575 15,887 726 52.754 1,817 Al 31 December 2022 9.601 28.357 16.613 64,571 Net book value Al 31 December 2022 1,097 5A43 2,181 8,721 At 31 December 2021 1.613 6.018 146 7.777 All fixed tsngible assets were used for charitable purposes. Paae 19
HEADWAY BEDFORD IA company limlted by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 11. FIXED ASSEf INVESTMENTS Llstèd securltlfjs Market value At 1 January 2022 Movement on revaluabon $47 11281 Al 31 December 2022 419 Valuatlon Listed investments are slated at their MKI market value al the balance sheet date. The rtfoliO consists of 152 ordinary 12.5p shar95 in Reed Elsevw pl¢. 12. OEBTORS 2022 2021 Trade debtor5 Other debtors 62,657 8.932 20,318 12.946 71,589 33,264 13. CREDITORS: Amounts lalllng due wlthln one year 2022 2021 Trade credito Other taxation and social secunty Other creditors 48,172 5,260 18.926 64,621 4,749 8,522 72,358 67.892 Page 20
HEADWAY BEDFORD IA company limited by guranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2022 14. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balancè at 31 GaIn Docombfrr {Lo$sttl 2022 Balance at 1 January 2022 Incom• Expendlturo Dagnated funds Occupational therapist Serviee devejopment 20AOO 9,286 20,400 9,286 29.686 29,686 G•n•rl funds General Funds 278,829 349.696 1379,8171 11281 248,580 Total Unreslricied funds 308.515 349,696 1379.8171 {1281 278.266 Re$trl¢t•d fund¥ DeParys Rotary Club IHoi$t} 1.489 {1491 1,340 Total of funds 310.004 349,696 1379,9661 {1281 279.606 STATEMENT OF FUNDS- PRIOR YEAR Balance at 31 Gainsl December {Lossesl 2021 1 January 2021 Income Expenditufe Deslgnated funds Occupational therapist serVe development General Funds 20.400 9.286 20.400 9.286 278,829 300,361 343,463 {364,645) 13501 Restricted fund5 DeParys Rotary Club {Hoist} 1,654 {165} 1N89 Page 21
HEADWAY BEDFORD IA company limited by gvarnnteel NOTES TO THE FINANCEAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 SUMMARY OF FUNDS- CURRENT YEAR Balan¢• at 31 GaIn Oecembfrr {Lossesl 2022 Balance at 1 January 2022 In¢omo Exp•ndltur• DeSnated funds General lunds 29,686 278.829 29,686 248,580 349.696 1379.8171 11281 308.515 1.409 349,696 {379.8171 1149) 1128) 278,268 Reslricled funds 310.004 349.696 1379,9661 11281 279,606 SUMMARY OF FUNDS - PRIOR YEAR 88lan¢e al 31 Gaintj December {Lossesl 2021 8aLqnce at 1 January 2021 InCe Expenditurn Designated funds General funds 29,686 300.361 29.686 278.829 343A83 1364,645) 13501 330.047 343.463 1.654 1364,6451 11651 13501 308,515 1.489 ReslrKted funds 331.701 343A63 364.8101 {3501 310.004 Page 22
HEADWAY BEDFORD IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 1S. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unrestrlcted Re$trf¢ted lunds funds 2022 2022 Total funds 2022 Tangible fixed assets Fixed asset investment$ Current assets Creditors due wlhin one year 7,381 419 342.824 (72,3581 8,721 419 342,824 {72,3581 278.266 279,606 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unreslrthd fvnds 2021 Restricted funds 2021 Total funds 2021 Tangible fixed assets Fixed a$sel investments Current assets Creditors due within one year 6,288 $47 369,572 {67,8921 1,489 7,777 647 369,572 {67.8921 308,S15 1,489 310.004 P4e 23
HEADWAY BEDFORD IA ¢ompany limlled by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 18. PENSION COMMITMENTS 'The charitable company operates a defirwf conth'butsons pension scheme. The assets of the scheme are held separately from those of the charitable company in an iridependeTrlly administered fund. The pgnsion cost charge represents contributions payable by the charitable company lo the fvnd and amounted lo £4,724 12021 £2.8331. Contributions lolalling £2.156 (2021 £1,152) were payable to the fvnd al the balance sheet dale and are included in creditors. 17. RELATED PARTY TRANSACTIONS AND TRUSTEES REMUNERATION The Trustees recefved no emoluments or rèimbursement of expenses12021 - nill. In the opinion ol the Trustees there We no related party transact$ falling lo be disck>sed in these accounts. Tho Charity has ultimate controlling party. Page 24