Registered number: 03690891 Charity number: 1075469 HEADWAY BEDFORD (A company limited by guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
HEADWAY BEDFORD (A company limited by guarantee) CONTENTS Page Reference and administrative details of the charity. its trustees and adviserJ Trustees. report Independent examinerfs report Statement of financial activities Balance sheet 9-10 Notes to the financial statements 11-23
HEADWAY BEDFORD (A company limited by guarantee) REFERENCE AND ADfvIINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees Dr Linda Candita Eamon McDonnell Maria Disapia (deceased 10 Odober 2024) Company registered number 03690891 Charity registered number 1075469 Registered office Headway House Bedford Health Village Kimbolton Road Bedford MK40 2NT Chief executlve officer and company secretary Christopher Batten Independent examiner MHA Chartered Accountants Century House The Lakes Northampton NN4 7HD Bankers TSB Bank plc Barton-le-clay Bedfordshire Page 1
HEADWAY BEDFORD (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report together wth the financial statements of the Company for the year ended 31 December 2023. The Annual Report serves the purposes of both a Trustees. report and a directors, report under company law. The Trustees nfim) that the Annual Report and financial ststements of the charitable company comply with the current statutory requirements. the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice ISORP) applicable to charities preparing their accounts in accordance Trmth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the company qualifies as small under sectton 383, the strategic report required of medium and large companies under The Companies Act 20( (strategic Report and Directors Report) Regulations 2013 is not required. OBJECTNES AND ACTIVITIES a. OBJECTIVES The activities of the charitable company are to provTrde rehabilitation and support to people who have suffered brain injury, including strokes, their families and carers and to provide seplices and f[litIeS for such persons. b. PUBLIC BENEFIT The Trustees have given consideration to the Charity ComMissn'S general guidance on public benefit when reviewing the charitys objects and planning its activities. We assist our clients by providing a holistic approach to the rehabilitation process. The positive impact of our service includes structured activities in a stimulating environment. a central venue that encourages and challenges individuals and that facilitates much needed peer support, goal seth'ng which encourages client participation and ongoing progress, community reintegration, reduced feelings of isolation, increased confidence and motivation. a support nerk for carers, and providing respite for carers. c. ACHIEVEMENTS AND PERFORMANCE 2023 saw most of the remaining pandemic effects at the centre disappear. Most clients attended regularty. and social distancing was relaxed. However, there were still consequences being felt by some extemal agencies who were remote working and experienong staff shortages and organisational change. This continued to affect our refe81$ and transfers beeen NHS and Social Servi$ funding. By the end of the year, though, referrals had recovered from 70 in 2022 to 105 for 2023. However, this was too late to increase our funding sufficienty to avoid a significant deficit again. Although there was an increase in Social Services fvnding per head the cost of inflation and reduction in donations more than offset this. An intensive exercise to increase Social Services client numbers with COperatIon of the Adult Social Services team in Bedford was begun during the latter half of 2023. This has bome some fruit in 2024, although some problems continue to be addressed. It was the sixteenth full year in the refurbished and improved premises moved into in 2007. Development of the Infrastructu for key working and goal setting with our clients continued. and the provision of cognitive exercises at both group and individual levels; the speech therapy, physiotherapy and occupational therapy all continued to aid in our clients, rehabilitation. Our tutored art and craft work e.g., digital photography and cookery, together wth mindfulness and fatsgue management sessions. all continued. Group singing, for those with speech impairments. continued. We continued to develop our systems for "personalisation.. (As in wevious years we had been able to Page 2
HEADWAY BEDFORD (A company limited by guarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 demonstrate that our key working and goal setting approaches could be linked to improved outcomes in this universal framework). Our three main statutory funders continued to be the NHS and the Bedford Borough and Central Bedfordshire Social Services teams The NHS contract has now been renewed again until April 2025. although with some aspects of it still needing attention. We continued to be a placement provider for Social Services students and trainee nurses and continued to be supported throughout the year by around 50 volunteers. The Community Brain Injury Advisor project (started in 2011) continued to provide services for people with a brain injury who could not attend the centre or who had moved on. 'The Harpur Trust, Panacea and Beds & Luton Community Foundation funding having finished, the project continued to be supported by direct funding on a client-by client basis by both local authortties. The Board would again like to thank all the staff and volunteers of Headway Bedford for their dedication and hard work throughout the year. ACTIVITIES a. REVIEW OF ACTIVITIES There was a deficit for the year before realised and unrealised revaluation profits on investments amounting to £34,957 (2022 - £30,270). The unrealised loss on investment assets amounted to £228 (2022 - £128). Unrestrided funds at 31 December 2023 amounted to £243,215 (2022". £278,266). Restricted funds at 31 December 2023 amounted to £1.206 {2022. £1,340) b. INVESTMENT POLICY AND PERFORMANCE All funds not required for immediate use are held on interest bearing bank deposit Page 3
HEADWAY BEDFORD (A company limited by guarantee) TRUSTEES. REPORT (continued} FOR THE YEAR ENDED 31 DECEMBER 2023 FINANCIAL REVIEW a. GOING CONCERN After making appropriate enquiries. the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the finanal statements. Further details regarding the adoption of the going concem basis Can be found in the Accounting Policies. b. RESERVES POLICY It is the policy of the trustees not to hold specffic reserves. The purpose of the unrestricted furKls ('free reserves,) is to provide all seNices as set out elsewhere in this report. In general. the aim is to maintsin liquid assets at a level equivalent to six months operab.ng costs. STRUCTURE. GOVERNANCE AND MANAGEMENT . CONSTITUTION The company is registered as a charitable company limited by guarantee by tts Memorandum and Articles of Association dated 18 January 1999. The charitable company was formed to take over the activities of an unincorporated charity, Headway House Bedford, whose assets were transferred to the charitsble company on 1 January 1999. The company has a registered charity number 1075469. The activities of the charitable company are to promde rehabilitation and support to people who have suffered brain injury. including strokes, their families and carers and to provide servios and facilib'es for such persons. b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. c. ORGANISATIONAL STRUCTURE AND DECISION MAKING There is a Board of Trustees, all of whom are directors of the company, who consider all significant expenditure and other requests at their meetings. The charity employs a chief executtve who refers to the Board of Trustees as appropriate. d. RISK MANAGEMENT The main risk identrfied for on-going attention by the Board of Trustees continues to be the UnrtaInty of statutory income fluctuations. An additional risk identified in 2014 concemed NHS responsibilrties as landlords of our premises. These changed as the local NHS PCT ceased to exist after April 2014 and was replaced by Bedfordshire CCG. A separate and new NHS organisation - NHS Propety Services - is our landlord. During 2018 and 2019 the CCG mooted the possibilty that it might like to cate a new intensive stroke rehab facility using Heaal$ premises with Headway being relocated elsewhere. Although this idea was dropped for the time being after oppogts'on and lobbying by Headway and its supporters, it may arise again and will be kept under review. Page 4
HEADWAY BEDFORD (A company Itmfted by guardntee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 e. TRUSTEES The present membership of the Board is set out on page 1. Except as otherwise noted, all trusteesldirectors seNed throughout the year. One third of the Board are required to retire or seek re-election each year. Trustees are invited to join the Board generally on the recommendation of existing trustees. The present membership of the Board is as set out below. Dr Linda Candita Eamon McDonnell Maria Disapia (deceased 10 October 2024) Trustees are appointed or reapInted in accordance yth the Articles of Association. f. TRAINING OF TRUSTEES The trustees are recruited for their wide experience and there is a comprehensive induction process on commencement. There is a training programme fof trustees. if required. Page 5
HEADWAY BEDFORD (A company limited by guardntee) TRUSTEES, REPORT (contlnued) FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES. RESPONSIBIUTIES STATEMENT The Trustees (who are also directors of Headway Bedfoid for the purposes of company law) are responsible for preparing the Trustees. report and the financral ststements in accordance wilh applicable taw and United Kingdom Accounting Standards (United Kingdom Genèralty Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the charitable company and of the incoming resOUrS application of resources. including the income and expendrture, of the charitable company for that perioj. In preparing these financial statements, the Trustees are required to-. select suitable accounting policies and then appty them consistenttr. observe the methods and principles in the Charilies SORP". make judgments and accounting estimates that are reasonable and prudent: prepare the financial ststements on the going concern basis unless tt 15 inappropriate to presume that the charilable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable ct)mpany's transactions and disclose with reasonable accuracy at any time the financial position of Ihe charitable company and enable them to ensure that the financial statements comply with the Companies A 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detectron of fraud and other irregularf(ies. The Trustees are responsible for the maintenance and integrity of the corporate and financial infomation included on the charitable CoMpanS website. Legislation in the United Kingdom goveming the preparation and dissemination of financial ststements may differ from legislation in other jurisdictions. This report was app Dr Linda Candita Chair of Trust*s Page 6
HEADWAY BEDFORD (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HEADWAY BEDFORD (the 'compan} I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2023. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordan with the requirements of the Companies Act 2006 (Ihe 2006 A¢V). 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 rewrt in respect of my examination of the company's accounts carried out under seclion 145 of the Charities Act 2011 ('the 2011 ACY). In carying out my examination I have followed the Direcbons given by the Charity Commission under seGtion 145{5){b) of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Sints 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 confim that l am qualified to undertake the examination because l am a member of ICAEW. which is one of the listed bodies. I have completed my examination. I can confimi that rm) matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act" or the accounts do not accord with those records" or the accounts do not comply with the accountsng requirements of section 396 of the 2006 A¢t 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 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 lapplicable 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 concems 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. Signed.. Rebecca Hughes BSclHons) FCCA MHA Chartered Accountants Century House The Lakes Northampton NN4 7HD Dated.. 2 ockekncJ 213 2 L Page 7
HEADWAY BEDFORD {A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Note INCOME FROM: Donations and voluntary income Charitable activities Investments B7,022 274,498 1,547 87,022 274,498 1.547 98,674 250,171 851 TOTAL INCOME 363,067 363,067 349,696 EXPENDITURE ON: Charitable activities 397.890 134 398,024 379,966 TOTAL EXPENDITURE 397.890 134 398,024 379.966 NET EXPENDITURE BEFORE INVESTMENT LOSSES Net losses on investments (34,823) (228 (134) 134,957 (228 (30,270) (128 NET EXPENDITURE BEFORE OTHER RECOGNISED GAINS AND LOSSES (35,051) 1134) 135,185) (30.3981 NET MOVEMENT IN FUNDS {35.051) {134) (35,1851 130,398) RECONCILIATION OF FUNDS: Total funds brought forward 278.266 279,606 310,004 TOTAL FUNDS CARRIED FORWARD 243.215 1.206 244,421 279,606 The notes on pages 11 to 23 form part of these financial ststements. The charity has no recognised gains or losses other than the results for the year as set out above. Page 8
HEADWAY BEDFORD (A company Ilmited by guarantee) REGISTERED NUMBER: 03690891 BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note FIXED ASSETS Tangible assets Investments 10 11 17,775 191 ,721 419 17,966 9.140 CURRENT ASSETS Debtors Cash at bank and In hand 12 21.985 232,169 71.589 271,235 254.154 342,824 CREDITORS: amounts falling due within one year 13 (27,6991 {72,358) NET CURRENT ASSETS 226,455 270,466 NET ASSETS 244.421 279,606 CHARITY FUNDS Restricted funds Unrestricted funds 14 14 1.206 243.215 1,340 278,266 TOTAL FUNDS 244,421 279,606 Page 9
HEADWAY BEDFORD (A company Ilmlted by guarantee) BALANCE SHEET (continued) AS AT 31 DECEMBER 2023 The company's financial statements have been prepared in accordance with the prowsions appficable to companies subject to the small ccynpanies regime and in accordance with the provisions of FRS 102 Sectton 1A - small entities. The Trustees consider that the company is entiued to exemption from the requirement lo have an audit under the provisions of section 477 of the Companies Act 2006 ('Ihe Act") and members have not required the company to obtain an audrt for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees on soned on their behalf. by.. 2S and Dr Linda Candita Chalr of Trustees Eamon McDonnell Trustee The notes on pages 11 to 23 form part of these fina al statements. Page 10
HEADWAY BEDFORD {A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES 1.1 Basis of preparation of financial statsments The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practrce applicable to charib'es preparing their accounts in accordance wrth the Financial ReFK)rting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the CompanEs Act 2006. Headway Bedford meets the definition of a public benefft entity under FRS 102. Assets and liabilities are inits'ally recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 1.2 Reconciliation with prevlous Generalty Accepted Accounting Practice In preparing these accounts. the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparattve items was required. No restatements were required. 1.3 Company status The company is a Company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liabilty in respect of the guarantee is limited to £1 per member of the company. 1.4 Going concern The financial statements have been prepared on a going nrn basis. The Trustees have not identtfied any material uncertainties that may cast SKJnificant doubt about the ability of the charitable company to continue as a going concern. Based on these assessments and having regard to the resources available to the charitable company, the Truslees have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts. Page11
HEADWAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES ICONTINUED) 1.5 Income All income is recognised once the company has entitlement to the income, it is probable Ihat the ncome will be received and the amount of income receivable can be measured reliably. For legacies, entiuement is taken as the eartier of the date on which either.. the company is aware that probate has been granted, the estate has been finalised and notsficab'on has been made by the executor{s} to the Trust that a distribution will be made. or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only conshdered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the grants'ng of probate, and the crrteria for income recognition have not been met, then the legacy is treated as a conbngent asset and disclosed rf material. Donated services or facilities are recognised when the company has control over the item. any conditions associated with the donated item have been meL the receipt of economic benefit from the use of the company of the rtem is probable and that economic benefit can be measured reliably. In accordance with the Charits"es SORP (FRS 102). the general volunteer time is not recognised financialty and refer to the Trustees, report for more infomiatson about their contribution. On reipt, donated professional Serv and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivaFent economic benefrt on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is re¢ognised at the time of the donation. Income tsx recoverable in relation to investment income is recognised at the time the investment income is renIable. 1.6 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty. it is probable that a transfer of economic beneffts wll be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each acttvty are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activty. Direct costs attributable to a single acts'vity are allocated direcuy 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 spenc and depreciation charges allocated on the portion of the assevs use. Govemance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements. Charitable activities and Govemance costs are costs incurred on the companys educational operations. including support costs and costs relating to the governan of the company apportioned to charitable activities. Page 12
HEADWAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES (CONTINUED) 1.7 Tangible fixed assets and depreciation All assets costing more than £250 are capitalised. A review for impainnent of a fixed asset is carried out if events or changes in circumstan$ indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls been the carying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial actNities incorporating income and expenditure account. Tangible fixed assets are carried at cost. net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to wrtte off the cost of fixed assets, less their estimated residual value. over their expected useful Iwes on the following bases: Fixtures and fittings Long life equipment Tools and equipment 25D 250 1.8 Investments Fixed asset investments are a fonn of finanaal instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date. unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gainsl{losses} on investments. in the Statement of financial activities incorporating income and expenditure account. 1.9 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company" this is normally upon notification of the interest paid or payable by the Bank. 1.10 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.11 Cash at Bank and in hand Cash at bank and in hand includes cash and short tenn highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the derA)Sit or similar account. Page 13
HEADWAY BEDFORD (A eompany Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES (CONTINUED) 1.12 Liabllltles and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliabty. LiabilitEs are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must prowde. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts. distt)unted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. 1.13 Flnancial Instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial inslruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest methcKI. 1.14 Pensions The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. 1.15 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds vthich are to be used in accordants wrth specrfic $triCtionS imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specffic fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Page 14
HEADWAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 INCOME FROM DONATIONS AND VOLUNTARY INCOME Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Other contracts Catering, outings and transport Donations Fundraising and collectsons Grants 3,213 5,806 4,895 73,108 3,213 5.806 4,895 73,108 3,240 4,586 22,234 64,324 4,290 Total donations and voluntary income 87,022 87,022 98,674 Total 2022 98,674 98,674 INCOME FROM CHARITABLE ACTMTIES Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 Day care contracts - NHS Day care contracts - Social seNices 177.995 96,503 177,995 96.503 165,356 84,815 274,498 274,498 250,171 Total 2022 250,171 250,171 Page 15
HEADWAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 INVESTMENT INCOME Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Dividends Deposit interest 51 1A96 51 1.496 67 784 1,547 1,547 851 Total 2022 851 851 DIRECT COSTS Total 2023 Total 2022 Activities Catering and outings Client transport 1.125 143 1.125 143 512 76 Fljl Therapy materials, facility hire Computer equipment and sundry costs Volunteer travelling expenses Rates Health and safety Cleaning Building repairs, maintenance, security patrols Service Gharge Telephone General travelling expenses Training and seminars National magazine and Affiliats-on Postage and stationery Insuran Sundry expenses Professional fees Bank charges Client courses Recruttment costs Wages and salaries National insurance Pension cost Depreciation 6.735 12,107 1,727 1,606 1,196 9,732 1,556 16.015 320 1,589 3,983 13 1,512 2,876 856 518 239 4,415 4,669 295,595 17,638 4,242 4,679 6.735 12,107 1,727 1,606 1,196 9,732 1,556 16,015 320 1.589 3.983 13 1.512 2,876 856 518 239 4,415 4,669 295,595 17.638 4.242 4,679 9,195 11,481 437 12,1561 2,778 7,475 1,171 16,140 433 1,666 1.485 19 627 2,280 2,486 288 228 3,780 288.613 22,517 3,405 1,817 395,086 395.086 376,753 Total 2022 376.753 376,753 Page 16
HEADWAY BEDFORD {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Staff costs Depreciation Other costs 2023 2023 2023 Total 2023 Total 2022 Direct costs Expenditure on govemance 317.475 4.679 72.932 2,938 395,086 2,938 376.753 3,213 317,475 4,679 75,870 398,024 379,966 Totsl 2022 314,535 1.817 63,614 379,966 NET INCOMEI(EXPENDITURE) This is stated after charging: 2023 2022 Depreciation of tangible fixed assets.. - owned by the charity 4.679 1.817 INDEPENDENT EXAMINER'S REMUNERATION The Independent Exarninerfs remuneration amounts to an Independent Examination fee of £2,93812022 £3,213). Page 17
HEADWAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 STAFF COSTS Staff costs were as follows". 2023 2022 Wages and salaries Social security costs Other pension costs 295.595 17,638 4,242 288,613 22,517 3,405 317.475 314,535 The average number of persons employed by the company during the year VRS as follows.. 2023 No. 12 2022 12 No employ received remuneration amounting to more than £60.000 in either year. 10. TANGIBLE FIXED ASSETS Flxtures and rittings Long lrfe equipment Tools and equipment Total Cost At 1 January 2023 Additions 10,698 33,800 787 18.794 12,946 63.292 13,733 At 31 December 2023 10,698 34,587 31,740 77,025 Depreciation At 1 January 2023 Charge for the year 9.601 274 28.357 623 16,613 3,782 $4,571 4,679 At 31 December 2023 9.875 28,980 20.395 59.250 Net book value At 31 December 2023 823 5.607 11,345 17,775 At 31 December 2022 1,097 S,443 2,181 8,721 All fixed tangible assets were used for charitable purposes. Page 18
HEADWAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11. FIXED ASSET INVESTMETrtrs Listed securitiès Market value At 1 January 2023 Movement on revaluation 419 (228) At 31 December 2023 191 Valuation Listed investments are stated at their mid market value at the balan sheet date. The portfolio Consists of152 ordinary 12.5p shares in Reed Elsevier plc. 12. DEBTORS 2023 2022 Trade debtors Other debtors 18,963 3.022 62,657 8,932 21,985 71,589 13. CREDITORS: Amounts falllng due within one year 2023 2022 Trade creditors Other taxation and social security other creditors 13,751 5.451 8,497 48,172 5,260 18,926 27.699 72,358 Page 19
HEADWAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR Balance at 31 Gainsl December {Losses) 2023 Balance at 1 January 2023 Income Expendlture Designated funds Occupational therapist Service development 20.400 9.286 20,400 9.286 29,686 29,686 General funds General Funds 248,580 363,067 (397,890) {2281 213,529 Total Unrestricted funds 278,266 363,067 1397.890) 1228) 243,215 Restricted funds DeParys Rotary Club (Hoist) 1.340 (134) 1.206 Total offunds 279.606 363.067 1398,024) 1228) 244,421 STATEMENT OF FUNDS - PRIOR YEAR Balance at 31 Gainsl December (Losses) 2022 Balan at 1 January 2022 Income Expenditure Designated funds Occupational therapist SeDiice development General Funds 20,400 9,286 20,400 9,286 248,580 278.829 349,696 (379,817) (128} Restrlcted funds DeParys Rotary Club (Hoist) 1889 1149) 1,340 Page 20
HEADWAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 SUMMARY OF FUNDS - CURRENT YEAR Balance at 31 Gainsl December (Losses) 2023 Balance at 1 January 2023 Income Expenditure Designated funds General funds 29,686 248,580 29,686 213,529 363,067 1397,890) (228) 278,266 1.340 363,067 (397,890) (1341 (2281 243,215 1,206 Restricted funds 279.606 363,067 {398,024) 1228} 244,421 SUMMARY OF FUNDS - PRIOR YEAR Balance at 31 Gainsl Dember (Losses) 2022 Balance at 1 January 2022 Income Expenditure Designated funds General funds 29.686 278.829 29,686 248,580 349,696 (379.817) (128) 308,515 1,489 349.696 (379,817) (1281 278,266 1.340 Restricted funds 310,004 349.696 (379.966) (128) 279.606 Page 21
HEADWAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset inveslments Current assets Creditors due within one year 16,569 1,206 17,775 191 254,154 (27,699) 254.154 127.699) 243,215 1,206 244,421 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 7.381 419 342.824 (72,3581 8,721 419 342,824 172,358 278.266 1,340 279,606 Page 22
HEADWAY BEDFORD {A company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 16. PENSION COMMITMENTS The charitable company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charitable company in an independentty administered fund. The pension Gost charge represents contributions payable by the charitable company to the fund and amounted to £4,242 {2022 - £3.405). Contributions lotslling £937 (2022 - £838) were payable to the fund at the balance sheet date and are induded in creditors. 17. RELATED PARTY TRANSACTIONS AND TRUSTEES REMUNERATION The Trustees received no emoluments or reimbursement of expenses (2022 - £nil). In the opinion of the Trustees there were no related paty transactions falling to be disclosed in these accounts. The Charity has no uttimate controlling paty. Page 23