Registered number: 03690891 Charity number: 1075469 HEADWAY BEDFORD (A company limited by guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
HEADWAY BEDFORD (A company limited by guarantee) CONTENTS Page Reference and admlnlstrative details of the charlty, Its trustees and advlsers Trustees. report Independent examlner's report ststement of financial activities Balance sheet Notes to the financial statements 10-22
HEADVVAY BEDFORD (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Dr Linda Candits Eamon McDonnell Company registered number 03690891 Charity registered number 1075469 Registered office Headway House Bedford Health Village Kimbolton Road Bedford MK40 2NT Chief executive 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
HEADVVAY BEDFORD (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the financial statements of the Company for the year ended 31 December 2024. The Annual Report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confimi that the Annual Report and financial statements of the charitsble company comply with the current statutory requirements, the requirements of the charitsble companls governing document and the provisions of the Statement of Recommended Practi {SORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the company qualifies as small under section 383. the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directorfs Report) Regulations 2013 is not required. OBJECTIVES AND ACTIVITIES . OBJECTIVES The activities of the charitable company are to provide rehabilitation and support to people who have suffered brain injury, including strokes, their families and Carers and to provide services and facilities for such persons. b. PUBLIC BENEFIT The Trustees have given consideration to the Charity Commission's general guidance on public benefit when reviewing the charitls 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 setting which encourages client participation and ongoing progress, community reintegration, reduced feelings of isolation. increased confidence and motivation. a support network for carers. and providing respite for carers. c. ACHIEVEMENTS AND PERFORMANCE As reported in our Annual Accounts for 2023, it was not until near the end of that year that all the effort put in to re-eslablish funding levels affected by the Covid epidemic started to bear fruit. However, by the beginning of 2024 increases in funding from Local Authorities {particularfy Bedford) were occurring regularly as more of our clients were supported by them and this continued throughout the year. We are therefore able to declare a small surplus for 2024, in contrast to the large deficit reported for 2023. It was the seventeenth full year in the refurbished and improved premises moved into in 2007. Development of the infrastructure for key working and goal setting wilh our clients continued, and the provision of ognitive exercises at both group and individual levels- the speech therapy and physiotherapy was maintained, although occupational therapy had to be discontinued temporarily following retirement of our therapist. Our tutored art and craft work e.g., digitsl photography and cookery, together with mindfulness and fatigue management sessions, were all maintained. Group singing. for those with speech impaim)ents, continued. We continued to develop our systems for °personalisation." (As in previous years we had been able to demonstrate that our key working and goal setting approaches could be linked to improved outcomes in this universal framework). Our three main statutory funders were the NHS and the Bedford Borough and Central Bedfordshire Social Services teams. The NHS contract has now been renewed again unlil April 2026, although with some aspects of it still needing attention. Page 2
HEADVVAY BEDFORD (A company limited by guarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 We conlinued to be a placement provider for Social servIs students and trainee nurses and were supported throughout the year by around 50 volunteers. Some of the volunteers were interested in gardening, and together with some of the clients, created a daZIng display of flowers in the garden at the back of the unit. The Community Brain Injury Advisor project (started in 2011) maintained 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 authorities. The Board would again like to thank all the stsff and volunteers of Headway Bedford for their dedication and hard work throughout the year. ACTIVITIES . REVIEW OF ACTIVITIES There was a surplus for the year before realised and unrealised revaluation profits on investments amounting to £8.336 {2023- deficit of £34.957). The unrealised loss on investment assets amounted to £115 (2023- £228). Unrestricted funds at 31 December 2024 amounted to £251,557 {2023= £243,215). Restricted funds at 31 December 2024 amounted to £1.085 (2023: £1.206). b. INVESTMENT POLICY AND PERFORMANCE All funds not required for immediate use are held on interest bearing bank deposit. 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 conlinue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. b. RESERVES POLICY It is the policy of the Irustees not lo hold specific reSeeS. The purpose of Ihe unrestricted funds ('free reseNes') is to provide all services as set out elsewhere in this report. In general, the aim is to maintain liquid assets at a level equivalent to six months operating costs. STRUCTURE, GOVERNANCE AND MANAGEMENT . CONSTITUTION The company is registered as a charitable company limited by guarantee by its Memorandum and Articles of Association dated 18 January 1999. The charitable company was fomied to take over the activities of an unincorporated charity, Headway House Bedford, whose assets were transferred to the charitable company on 1 January 1999. Page 3
HEADVVAY BEDFORD (A company limited by guarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 The company has a registered charity number 1075469. The activities of the charitable company are to provide rehabilitstion and support to people who have suffered brain injury, including strokes. their families and carers and to provide ServIS and facilities 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 executive who refers to the Board of Trustees as appropriate. d. RISK MANAGEMENT The main risk identified for on-going attention by the Board of Trustees continues to be the uncertainty of ststutory income fluctuations. An additional risk idenlified in 2014 concerned NHS responsibilities 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 Property servIs - is our landlord. During 2018 and 2019 the CCG mooted the possibility that it might like to create a new intensive stroke rehab facility using HeadWaS premises with Headway being relocated elsewhere. Although this idea was dropped for the time being after opposition and lobbying by Headway and its supporters, it may arise again and will be kept under review. e. TRUSTEES The present membership of the Board is set out on page 1. Except as otheIse noted, all trusteesldirectors served 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 Candits Eamon McDonnell Maria Disapia (deceased 10 October 2024) Trustees are appointed or reappointed in accordance with the Articles of Associalion. 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 for trustees. if required. Page 4
HEADWAY BEDFORD (A company Ilmlted by guarantee) TRUSTEES, REPORT Icontlnued) FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES. RESPONSIBIUTIES STATEMENT The Trustees (who are also diredors of Headway Bedford for the purposes of company law) are responsible for preparing the Trustees. report and the financial statements in accordance wtth applicable law and United Kingdom Accounting Standards {Untted Kingdom Generally 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 state of affairs of the charitable company and of the incoming resources and application of resources. including the income arKJ expendrf(ure, of the ¢haritable company for that perM)d. In preparing these financial statements. the Trustees are required to: seled sutlable &counting policies and then apply them consistenty, obseNe the methods and principles in the Charities SORP: make jLxlgments and accountiry estimates that are reasonable and prudent. prepare the financial ststements on the going Gonr£m basis unless it is inappropriate to presume that tho charitable c(Mnpany wll continue in operation. The Twstees are responsible for keeping adequate accounting records that are sufficient to show and explain the charrtable G¢)mpanls transaclions and disclose with reascfflable accuracy at any time the financial posrtion of the charTrtable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregulartties. The Trustees are responsible for the maintenance and integiity of the corporate and financial infomiation included on the charitable companys website. Legtslaticffi in the United Kingdom goveming the preparation and disseminatii)n of financial statements may differ from legislation in other jurisdictions. This report was ap the Trustees. on and signed on their behalf by. Dr Linda Candita Chair of Trustees Page 5
HEADVVAY BEDFORD (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HEADWAY BEDFORD (the 'company') I report lo the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2024. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the company (and its directors for the purposes of company lawl 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 the companys accounts carried out under section 145 of Ihe Charities Acl 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 companls 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 l am qualified to undertake the examination because l am a member of ACCA, which is one of the listed bodies. I have completed my examination. I can confirm that no 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 wth the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination- or the accounts have not been prepared in accordance with the melhods and principles of the Statemenl 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 IFRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed- Rebecca Hughes BSc(Hons) FCCA Dated: 2610912025 MHA Chartered Accountants Century House The Lakes Northampton NN4 7HD Page 6
HEADVVAY BEDFORD (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note INCOME FROM: Donations and voluntary income Charitable activities Investments 98,238 330,138 2,191 98,238 330,138 2,191 87,022 274,498 1,547 TOTAL INCOME 430,567 430,567 363,067 EXPENDITURE ON: Charitable activities 422,110 121 422,231 398,024 TOTAL EXPENDITURE 422,110 121 422,231 398,024 NET INCOME I (EXPENDITURE) BEFORE INVESTMENT LOSSES Nel losses on investments 8,457 (115) {121) 8,336 (115) (34,957) (228) NET INCOME I (EXPENDITURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES 8.342 {121) 8,221 (35,185) NET MOVEMENT IN FUNDS 8.342 {121) 8,221 (35,185) RECONCILIATION OF FUNDS: Total funds brought forward 243.215 1.206 244.421 279.606 251,557 1,085 252,642 244,421 TOTAL FUNDS CARRIED FORWARD The notes on pages 10 to 22 fomi part of these financial statements. The charity has no recognised gains or losses other than the results for the year as set out above. Page 7
HEADVVAY BEDFORD (A company limited by guarantee) REGISTERED NUMBER: 03690891 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note FIXED ASSETS Tangible assets Investments 10 11 16.985 76 17,775 191 17,061 17,966 CURRENT ASSETS Debtors 12 54,806 215.459 21,985 232.169 Cash at bank and in hand 270,265 254,154 CREDITORS: amounts falling due within one year 13 (34,684} (27,699) NET CURRENT ASSETS 235.581 226.455 NET ASSETS 252,642 244,421 CHARITY FUNDS Restricted funds Unrestricted funds 14 14 1,085 251,557 1,206 243,215 TOTAL FUNDS 252,642 244,421 Page 8
HEADWAY BEDFORD IA company limited by guarantee) BALANCE SHEET Icontlnued) AS AT 31 DECEMBER 2024 The ¢ompanYs financial statements have been prepared in accordance with the provision5 applicable to companies subject to the small companies regime arKI in OrdanCe with the provisions of FRS 102 Section 1A - small entities. The Trustees consider that the company is enttued to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 21x16 ('Ihe Acr,) and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act The Trustees ackncfivledge their responsibiliknes for ccthplying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial ststements. The financial ststements We approved and authorised for issue by the Trustees on SWJ9ed on their behalf. by. ZS and Dr Linda Candlta Chair of Trustees Eamon McDonnell /kAJL Tte0 The notes on pages 10 to 22 fomi part of these financial statements. Page 9
HEADVVAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with Accounting and Reporting by Charilies.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Headway Bedford meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 1.2 Reconciliation with previous Generally Accepted Accounting Practice In preparing these accounts, the Trustees have considered whether in applwng the accounting policies required by FRS 102 and the Charibes SORP FRS 102 the Statement of comparative 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 liability in respect of the guarantee is limited to £1 per member of the company. 1.4 Going concem The financial statements have been prepared on a going concern basis. The Trustees have not identified any material uncertainties that may cast significant doubt about the ability of the charitable company to continue as a going concem. Based on these assessments and having regard to the reSoUrS available lo the charilable company, the Trustees have concluded that there is no material uncertainty and that they can continue to adopt the going concem basis in preparing the annual report and accounts. Page 10
HEADVVAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (CONTINUED) 1.5 Income All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. For legacies, entitlement is taken as the eadier of the date on which etther- the company is aware that probate has been granted. the estate has been finalised and notification 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 considered 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 granting of probate, and the criteria for income recognition have not been mel, then the legacy is treated as a contingent asset and disclosed if material. Donated services or facilities are recognised when the company has control over Ihe item. any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 102). the general volunteer time is not recognised financially and refer to the Trustees. rew)rt for more infomiation about their contribution. On receipt, donated professional ServIS 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 io pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to donations reiVed under Gift Aid or deeds of covenant is recognised al the time of the donation. Income tax recoverable in relation to investment income is reGognised at the time the investment income is receivable. 1.6 Expenditure Expenditure is rec(y3nised once there is a legal or constructive obligation to transfer economic benefit to a third party. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activty are allocated directly to that activity- Shared costs which Gontribute to more than one activity and support costs which are nol attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's 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 CoMpanS educational operations, including support costs and costs relating to the governance of the company apportioned to charitsble activities. Page11
HEADVVAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (CONTINUED) 1.7 Tangible fixed assets and depreciation All assets costing more than £250 are capitalised. A review for impairment of a fixed asset is carried out rf events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impaimient losses are recognised in the Statement of financial activities incorporating income and expenditure account. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairmenl. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases.. Fixtures and fittings Long life equipment Tools and equipment 250 10Y. 25° 1.8 Investments Fixed asset investments are a form of financial 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(lossesl 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. PrepayTnents 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 temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 12
HEADVVAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (CONTINUED) 1.12 Liabilities 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 reliably. Liabilities 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 provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where Ihe effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks spectfic to the liability- The unwinding of the discount is recognised within interest payable and similar charges. 1.13 Financial instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. 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 method. 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 accordance with specific restrictions 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 specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Page 13
HEADVVAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 INCOME FROM DONATIONS AND VOLUNTARY INCOME Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Other contracts Catering, outings and transport Donations Fundraising and collections 3,491 6,249 16.669 71,829 3.491 6,249 16,669 71,829 3,213 5,806 4,895 73,108 Total donations and voluntary income 98,238 98,238 87,022 Total 2023 87,022 87,022 INCOME FROM CHARITABLE ACTIVITIES Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Day care contracts- NHS Day care contracts - Social services 172,462 157.676 172,462 157,676 177,995 96,503 330.138 330,138 274,498 Total 2023 274.498 274,498 Page 14
HEADVVAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 INVESTMENT INCOME Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Dividends Depostt interest 24 2,167 24 2,167 51 1,496 2.191 2,191 1,547 Total 2023 1.547 1.547 DIRECT COSTS Total 2024 Total 2023 Activities Catering and OLrtings Client transport Therapy materials, facility hire Computer equipment and sundry costs Volunteer travelling expenses Rates Health and safety Promotional costs Cleaning Building repairs, maintenance, securty patrols servi charge 936 2.856 2,340 16,108 1,799 1,197 2.074 1,494 12,557 1.393 16,675 936 2.856 2,340 16,108 1,799 1,197 2.074 1,494 12,557 1.393 16,675 1,125 143 6,735 12,107 1,727 1,606 1,196 9,732 1,556 16,015 Flli Telephone General travelling expenses Training and seminars National magazine and Affiliation Postage and stationery Insurance Sundry expenses Professional fees Bank charges Client courses Recruitment costs Wages and salaries National insurance Pension cost Depreciation 360 928 1,811 19 2,639 2.784 1,372 7,824 270 9,410 3.000 300,769 19.858 4,779 3,904 360 928 1,811 19 2,639 2.784 1,372 7,824 270 9,410 3.000 300,769 19,858 4,779 3,904 320 1,589 3,983 13 1,512 2,876 856 518 239 4,415 4.669 295,595 17,638 4,242 4,679 419,156 419,156 395,086 Total 2023 395,086 395,086 Page 15
HEADVVAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Staff costs Depreciation Oiher costs 2024 2024 2024 Total 2024 Total 2023 Direct costs Expenditure on governance 325,406 3.904 89,846 3.075 419,156 3.075 395,086 2,938 325.406 3.904 92.921 422.231 398,024 Total 2023 317,475 4,679 75,870 398,024 NET INCOMEI(EXPENDITURE) This is ststed after charging- 2024 2023 Depreciation of tangible fixed assets.. - owned by the charity 3,904 4,679 INDEPENDENT EXAMINER'S REMUNERATION The Independent Examiner's remuneration amounts to an Independent Examination fee of £3,075 (2023 - £2,938}. Page 16
HEADVVAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 STAFF COSTS staff costs were as follows: 2024 2023 Wages and salaries Social security costs Other pension costs 300,769 19,858 4,779 295,595 17,638 4,242 325,406 317,475 The average number of persons employed by the company during the year was as follows: 2024 2023 12 12 No employee received remuneration amounting to more than £60,000 in either year. 10. TANGIBLE FIXED ASSETS Fixtures and rittings Long life equipment Tools and equipment Total Cost At 1 January 2024 Additions 10,698 34,587 3.114 31,740 77,025 3,114 At 31 December 2024 10,698 37,701 31,740 80,139 Depreciation At 1 January 2024 Charge for the year 9,875 206 28,980 862 20,395 2,836 59,250 3,904 At 31 December 2024 10,081 29,842 23,231 63,154 Net book value At 31 Dember 2024 617 7,859 8.509 16,985 At 31 December 2023 823 5,607 11,345 17,775 All fixed tangible assets were used for charitable purposes. Page 17
HEADVVAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. FIXED ASSET INVESTMENTS Listed securities Market value At 1 January 2024 Movement on revaluation 191 (115) At 31 December 2024 76 Valuation Listed investments are stated at their mid market value at the balance sheet date. The portfolio consists of 152 ordinary 12.Sp shares in Reed Elsevier plc. 12. DEBTORS 2024 2023 Trade debtors Other debtors 50,386 4,420 18,963 3,022 54.806 21,985 13. CREDrroRS: Amounts falling due within one year 2024 2023 Trade creditors Other taxation and social security Other creditors 15.529 5,917 13,238 13,751 5,451 8,497 34,684 27,699 Page 18
HEADVVAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR Balance at 31 Gainsl December (Losses) 2024 Balance at 1 January 2024 Income Expenditure Deslgnated funds Occupational therapist Service development 20.400 9,286 20,400 9,286 29,686 29,686 General funds General Funds 213,529 430,567 (422,110) (115) 221,871 Total Unrestricted funds 243.215 430.567 (422.110 (115) 251,557 Restricted funds DeParys Rotary Club (Hoist) 1,206 (121) 1,085 Total of funds 244.421 430.567 (422.231) <115) 252.642 STATEMENT OF FUNDS - PRIOR YEAR Balance at 31 December 2023 Balance at 1 January 2023 Gainsl (Losses) Income Expenditure Designated funds Occupational therapist Service development General Funds 20,400 9,286 20,400 9,286 248.580 363.067 (397.890) (228) 213.529 Restricted funds DeParys Rotary Club (Hoist) 1,340 1,206 Page 19
HEADVVAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 SUMMARY OF FUNDS - CURRENT YEAR Balance at 31 Gainsl December (Losses) 2024 Balance at 1 January 2024 Income Expendlture Designated funds General funds 29,686 213,529 29,686 221,871 430,567 (422,110 (115) 243,215 1.206 430,567 (422,110 (121) (115) 251,557 1.085 Restricted funds 244,421 430,567 (422,231) {115) 252,642 SUMMARY OF FUNDS - PRIOR YEAR Balance at 31 Gainsl December {Lossesl 2023 Balan at 1 January 2023 Income Expenditure Designated funds General funds 29.686 248,580 29.686 213,529 363,067 (397,890) (228) 278,266 1,340 363,067 (397,890) (228) 243,215 1,206 Restricted funds 279.606 363,067 (398,024) (228) 244,421 Page 20
HEADVVAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 15,900 76 270,265 (34,684) 1,085 16.985 76 270,265 {34,684) 251,557 1,085 252,642 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Currenl assets Creditors due within one year 16,569 191 254,154 (27,699) 1,206 17,775 191 254,154 (27,699) 243,215 1,206 244,421 Page 21
HEADVVAY BEDFORD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. PENSION COMMITMENTS The charilable company operates a defined contributions pension scheme. The assels of the scheme are held separately from those of the charitable company in an independenY administered fund. The pension ost charge represents contributions payable by the charitable company to the fund and amounted lo £4,779 12023 - £4.242). Contributions totalling £1.002 (2023 - £937) were payable to the fund at the balance sheet date and are included in creditors. 17. RELATED PARTY TRANSACTIONS AND TRUSTEES REMUNERATION The Trustees received no emoluments or reimbursement of expenses (2023 - £nil). In the opinion of the Trustees there were no related party transactions falling to be disclosed in these accounts. The Charity has no ultimate controlling paty. Page 22