RECISTERED COMPANY NUMBER: 03917437 (England And Wales) REGISTERED CHAIUTY NUMBER: 1080775 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR HEADWAY LUTON LTD HEADWA Y LUTON LTD CONTEKfs OF THE FINANCIAL STATEMEN15 foT ihe Yar Ended 31 MARCH 2024 PAie RefereKe *nd Ad•thtstrAtlve Drtills R¢port of the Tnul 2 ￿ 7 Reporl of the ladependenl Awdlto Sti¢*m¢D¢ of Fln*ts¢l*l A¢tlvli 12 l*Dce Sbeel 13 Notes to the FID4n¢l•l &•¢¢•ents 14 w 22 Det•lled Ststeme&t of Flw•Ad•l Atifvlties 23 ￿ 24 HEADIVA Y LIITON LTD REFERENCE AND ADMINISTRATIVE DETAIiS for the Ye*r Ended 31 MARCII 2024 TRu￿EEs Mr B H Bateson Trcasurer Mr A D HeAdl¢y Chair Mr A Malik Mrs A Morgan Mrs V Hone88n- HeAdlry Mr C Harvey REGISTERED OFFICE 49-53 Almi Str¢¢l Lulon Bedfordshire LUI 2PL REGisfERED COMPANY NUMBER 03917437 (England and Wil¢s) REGI￿ERED CHARITY NUMBER 1080775 INDEPENDENT AUDITORS FKCA Limiled 260- 270 Butterfjeld Great M•rlin8S Luton B¢dfordshire LU2 8DL CHIEF EXECUTIVE Grahame Athins Page I HEADIVAY LUTON LTD IREGisfERED NUMBER: 03917437) REPORT OF THE TRUSTEES (or ihe Yur Ended 31 MARCH 2024 The trusle¢s aTe also dire¢iors of the ch•rity for ihe purposes of lh¢ Comp•nie$ Act 2006, pr¢xnt their rel￿1 with the finan¢i81 slalements of the charity for the yev ended 31 M•rch 2024. Tly Are prepared in ic40rdan¢¢ the ac¢ountinB policies set oui in note I lo ihc fin•nci•l sl•lements •nd comply with the Ch•riii¢g A¢1 2011, Ihe Comp•ni Aci 2006, the MemoTrndurn ind Articles of A$s￿lI110n and A¢counlin8 Reporlin8 by CThviti¢s: Sthtcment of Recommended Prnclic¢ opplieable to charilies preparin8 their finwKial styiements in ￿Ordance wilh the Fin•ncial R¢wnin8 Standard appli¢•ble in the UK and Republic of Ir¢l•nd (FRS 102) {effediv¢ l 2019). OWEcfivES AND ACTIVITILS Objectlves ind *lmi The chirity's obje¢rives are for th¢ reli¢f of ithilis WI￿ have M •CqUiTed brnin injury (ABI) any other neurological condition. Iheir f•mili¢s. ¢v¢rs and other r¢lated professionits by the provision of •dvi¢¢, inforni•¢ion. services and facililiu •s reqyir¢d by su¢h pux)ns. To m•nag¢ Ind run ￿tIVItIe& d•y ¢en¢¥es. visilinB seryices and support 8roups in fwtherwK¢ of th¢ obj¢¢iives. To ¢re•te a wider underst•ndini of brnin injury wiihin ihe community. The trust¢es h•ve ref¢Tred to th¢ luid￿¢t ¢ontsined in tht Chlriry Commission'$ 8enernJ 4¥Id￿¢¢ on publie b¢n¢fJt when reviewin8 their *im$ objedives and in pl￿ning ttliviti¢s. In Parli￿1*r. the lrnslees wnsider how pl*nn¢d activiti¢S will tontribul¢ ￿ lh¢ •im$ ind obFdiv¢s ihey have s¢1. Page 2 HEADWAI, LIITON LTD (REGISTERED NIIMBER: 03917437) REPORT OF THE TRusfEES for the Ye*r Ended 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Cb#rltibl¢ •etivities The Bo8rd of Trnsle¢s ire pleased lo report to all Headwiy Lvlon members, including ¢lienls, the¥r famili¢s and c4rers. staff ind volunteers. 511PPOrters and funders. thal Ihroughout the di￿1¢￿11 fin•n¢ial ye•r of 2023r24, d￿lin8 with high inflfilion. we not only successfully i¢hi¢ved our primory objedives for the yethr. but also increu¢d our rnn8e of ¢li¢ni afflivili¢s within the centr¢. Prim•ry obJe￿iVes.. l. To effectively ensure efficiency meuures ￿t •dopled wherever posslbl¢ so IhAt seryie¢J ve not severely imp•¢ied by ihe rapidly inrr¢asin8 cost of living. 2. To support clienls and their families who ire strug8linR lo ¢op¢ wilh the in¢r¢J$¢d ¢oM of livin8 wilh •dvi¢¢ infomialion, debi mRn88emenl gnd ￿IdgelIn$ skills. 3. To support clients who ￿e slill re¢overin8 frorn ihe eovld pandemic due io incr¢8sed sociil ijolaiion, (thiily bereavements. rcdu¢¢d independent livin8 ind other negalivc implcls lo Ih¢ir hcwlth w¢llb¢in8. 4. To exp4nd th¢ rnnge of c¢nlTt iclivilies offerin8 cllenls an in¢r¢asin8 Choice of *divili¢J ai Headway ¢¢ntreJ ID Luion •nd Hou8hion Re8is lo mect Ihelr individujl needs. 5. To increase volunieer remiitmeni trnlninB lo s¥ppon and ¢nhance iht stiff team with ntw skills in lh¢ delivery ofperson-centrd s¢ryic¢s. C¢ntre S¢tvi¢¢s'. A¢Nal numbers of cli¢nts attending ihe cenlres sli8hily reduced from the Previous year due IO a slowin8 down of agreed funding for n¢w client placem¢nts by the local #uthorilies who wer¢ alw iffecled by increasin8 ¢0s1s and budgel shortfalls. However. any resuliin8 loss of centre •neftdance incom¢ eoupled wilh significant incre¥scd energy, Staifing and general running costs, did not detr8¢t from d¢liverin8 a quality service wilh many nNv 8r8nt funded aclivilies and projecls for the clients io enjoy ond benefit fmm. Addilional activities in¢luded: GVC Men's He)1th 8r•nl (administered by ihe BLCF) tnabled clients to express ¢hemselve$ through Bt•lb)xin8. reluing yoga and sound baths. New exercik equipment includin8 weight machines were olso purchased. Lottery Heritage Fund 8ront (administeTcd through Lulon Council) enabled professional Artlsts lo rnn o project with clients d¢pi¢ling the Lulon history of beer br¢wing and hat m•kin8. This lar8e•scale piece is displ•y¢d in Lulon Cenlrnl Librnry also promotin8 Headway Lulon. - Whipsnade Zoo provided heavily discounlcd lickels for group tripj in the Summer. Lottery Coron#lion Pirty granl PTovided fundin8 for ¢lienls lo Celebrate ihe ¢oron&lion of KinB Charfe5 with professional musicians. ma8ician4 a photo booth. and superb food by Rina. University of Bedfordshire psychology stud¢DiS inierothed with ¢lienls lo lllk ¢onf)denlially about Ihe ¢auses and ns¢quen¢¢s of their brnin injuries. Central Beds Council provid¢d 'Muliiply Maih5' group sessions in HouBhion Regis as part of # nalion•l inittitive to improve adult m•th$ $kills. Pa8c 3 HEADIVAV LIITON LTD {REGTSTERED NIIMBFR.. 03917437) REPORT OF THE TRUSTEES ftsr ihe Yegr Ended 31 MARCII 2024 Community Support SerYi¢es.' Iner¢a5¢d stiff rcsouwe$ were commiiied to help the Community Svpport lurn. They man•8¢d th¢ 5ignifiuni inut￿¢ of ¢li¢nls and families with financial and b¢nefJi problems *ff¢ciin8 their healih 8nd wellbein8. while Ilso supportin Clienls in ihe community in¢ludin8 those who welc w•ilin8 for their centr¢ fundin8 w be ¢onfiTmed by Iheir I￿￿1 •thhority. Thirty-fiv¢ adults wilh ffi •¢quir¢d brlin Iwury wer¢ r¢f¢Thed lo He*dw•y In thls i¢portln2 yew. All new ¢lieni$ were assess¢d ￿ estsblish their ABI rcl8led n¢¢ds, Wlthin our published timeframe of len working days weff provided wilh a wid¢ ran8¢ of support to meet their subs¢•nti•l ond often compl¢x probl¢mJ. Addilion•l Community Support SeTVi¢eJ included . Bedfordshtre and Lulon Community Foundalion (BLCF) 8rnnl enabld •ddilion41 support for ¢li¢nls still r¢¢overin8 from the impjd of the p￿deMiC th41 affccled Iheir menlal health and wellbein8. - Lottery Tun Cost of Living Fund Rrani provided addilionwl resources lo Support ¢lients and Ih¢if families rarers imp#eled by the in¢rcased cost of living Ihrou8h our commvnilies. . The Wiximtrt¢ Trusl 8rAnl enibled Community Support w provide short tern) trntr£ew centre •tt¢ndance io clients in CTiSi$, or for clients w•irins i lon8 lime for ihe I￿81 aulhorily lo Jgree lo fund the centre pl8¢¢ment. Across the Luton and Central Beds ar¢• stsff provided Jevernl ABI inf0m￿tion •dvice lands and fundrnisinz stslls thil also rAised public Awar¢ne$$ of ABI and Headway Luion services. Volunleen., We successfully promoted inlemally 8 518ff member lo be ovr pirt lime Volunteer CO￿din1t0r, whose role wis to increas¢ volunlecr recruitm¢nl. Throu8houi th¢ year 13 volunteers were re¢rniied to help ¢lients wilh Ih¢ir ¢enTr¢ activities. All voluni¢ers re¢eived an induaion, ¢ssenlial trAinin8 and ongoin8 $UPPOrt through0￿ th¢ir lime Heidwty or continue to do SO. W¢ hive •lso welcomed young peopl¢ on short lerni work ¢xpcrien¢e pro8r*mme$ from local colleges, Clients supported in 2023124.. Throughout the year HeadwAy Lulon supported 219 ¢lienis with an ABI, as well a5 theiT fwnily ond ¢thrs eiiher withift our Centres in(Vor in th¢ diverse ¢ommunAtie5 within Lulon C¢nlr•l Beds. Of Ihe existing clients from the pr¢vious year. 19 left our s¢rvi¢¢$ for various reasons in¢ludin8 no need for furfher $upN)rt, moved or sidly passed away. Client sthtlSli¢s in brief.. 67%ofour ¢lients are men and 33% women. 71 Y• of clients have had an ABI caused by * medi¢41 condition such Js stroke, lumour, menin8ltis and encephilitis. 24% hiv¢ a lrnumalic brain injury caused by road tralTir accidcnts, falls ind issiulis. 5% are living Wlth a neurologi¢o1 condilion including dementia and Parkinson's. 45•/4 ofour clients Wt undtr 50 and 55•A Ire ov¢r 50. ApprKiition: The Bovd of TNst¢¢s are very 8rnieful for all ¢lients, Iheir famili¢$, ¢orers, stsff volunteers grknt fundeTS ftir Iheir conlinued sUPPOrt throughout a very busy bul successful yeAr. PaB¢ 4 IIEADIVAY LIITON LTD (REGISTERED NIIMBER: 039174371 REPORT OF THE TRu￿EEs forthe Ye&r Ended 31 MARCH 2024 FINANCIAL REVIEIV Th¢ results of the rI￿rIty for th¢ year are sel out in ihe Sialemeni of Finon¢i•l A¢iiviii¢$ on pa8e I l. Overall lh¢ charity hid • surplus for lh¢ yeii of £20,446, Princi￿1 fuDdlng Joure¢s Grant income for ihe year tol4lled £149,966 was m•de up &$ follows:. Restri¢ied: NHS Beds, Lulon and Milton Keynes ICB- COmm￿nity Support Serlice Bedford$hir¢ llnd Lulon Community Foundilion (Lulon Borou8h Coun¢il>- DAY Cenlre Wixamlree Trusi Luion Borough Coun¢ll- reienlion and recruithieni $r￿1 Nliional Lottery- Cosi of Livlng fund N81ion•l Lottery. Community fund- Coninltion party Luton BoTouBh Coun¢il . H¢rila8e Art Proje¢l MenlAI Hulth GrAni- YeaT 2 54,790 44.488 2,890 20,IrfXI 17,432 3,9 1.200 5.266 All other income tolalled £291,757. Charges for the day ¢•re $ervic¢ w¢r¢ £283278, Fund rnisin8 ¢ontribul¢d £1243, other donalion5 £6.979 and inl¢r¢sl rtt¢ived £257, Re5erve5 polley The trustees review the level of reserv¢s p¢riodicilly to ensure thal the charity is •ble to be man•8ed e(fi¢iently Ind io provide • buffer for uninterrupted $¢rvi¢e$. It is their policy lo maintain unr¢strict¢O fund5 11 a level which equales to I l¢asi six monih$ expendifure, This provides sUtTi¢itnl funds io ¢over mona8em¢ni, administrffiion and suppon ¢o$is. PLANS FOR THE FUTURE l. To conlinue with th¢ development •nd expansion of all Headw•y Luion services towArds the fylfilmenl of our mission siaiem¢nl. 2. To iniliiie consolid•t¢ member$ PArticipili¢)n iffi the ￿n$￿TillIOn, pl•Min8 and conslruciion of a new 3-5 ye business plan. 3. To r¢vi¢w our Charity ¢onslitulion and governance policles to ensure ihry refl¢et our C￿rren[ 4im$ and objethivts. and how we condu¢l our busincss in leBal wmpliance ofih¢ Charity Commission and Cornpanie$ House re8ulation5. 4. To ￿ntinUe 8d¢quotely resour¢in8 and reviewing our volunteer knd trus*e reerultmeni, lrninin8 and retention practices. 5, To in¢r¢•s¢ Iwr digital ¢ommuni¢alion$ with mernbers and how we promo1¢ Headwiy $¢Tvices. 6. To ensure realisti¢ energy eifici¢n¢y m¢¥ures are resear¢hed, i¢sour¢ed and applied as dthoiled in i new Headway Environm¢nl Poli¢y (2025) in line with OUT aims towords Luwn Nel Z¢TO pl4ns, 7, To in¢r¢ase ¥w4ren¢ss ofour seryi¢¢s in Lvton and Central Beds by new mathcling initiilive$. . To inueasc partnership Working wilh other orgAnis•ilons thai may benefil Heidway servict$. Page 5 HEADIVAY LIITON LTD IREcisfERED NIIMBER.. 03917437) REPORT OF TIIE TRUSTEES (or ib¢ Yur Endedjl MARCH 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Govtrnlng dotumtni The charity was incorporated on l FebNary 2000 ¥ J privale ¢ompny Ilmited by 8var•nl¢¢, r¢£iJtereO in Eftzl￿d Ind Wiles. after hiving been in exi$i¢n¢¢ for iboul eleven ye*rs u an uninCo4￿1td enlity. li r¢giiiere41 u • ¢h•iiry on 15 December 1997. with th¢ charilable coMp￿Y bcin8 icgimered on 18 Miy 2000. The ch•rity ¢h*nged its n•me from He•dway South Bedfordshire Limited on 22 OL1ober 2008. The 8ov¢rninz documen1$ currenily in force •re the Memornndum and Art¢cl¢s of As%>ciation. There currenily 6 members (trusl¢¢s)12022 - 6) e•¢h of whom •zrees lo ¢ontribul¢ in ￿noUn1 noi ¢xc¢edin8 £10 in the evenl of the charity winding up. Appolhtment of trniteej Trustees are appoint¢d by the m￿￿sement conunirte< subjecl to appmvil il the following annual 8¢nernl mcelin6• which 1$ nornially held in November. Ai each AGM the th loniesl servin8 truM¢¢S rdire may offer themselves up for 1￿cle¢tion. Ory*Dlsation The nwn¢5 Qfthe trusttts who served durin8 the yw Ire w out 4)n pw l. BoaTd Meetings held re8ul*rfy on a monthly b¥1& wilh •d me¢tin8s b¢in8 held ￿ wbd when necessary. The chief exKulive officer has the overnll responsibility for all opernlion•l activity. service quality, Conlrnrl athicv¢meThl •nd fi￿re develownents lo rnttl service d￿jnd$. within a bud8el 5¢t •nd ov¢n¢¢n by ihe knrd of trust¢cs. R5Jk MA Vl*8emeDt The trustees carry oul an ￿nUal Teview of the risks which ihe charity may fac¢, hive e51oblished syslems and procedures lo milig•i¢ #ny risks identified and minimise any pol¢nlial impact sho¥ld any identified risks materialise. P•8¢ 6 IIEADIVAI, LIITON LTD (REGISTERED liIJMBER: 03917437) REPORT OF THE TRiisfE£S ror the Y￿r Ended 31 MARCH 2024 rATEMENf OF TRusfEES' RESPONSIBILITIES The tru￿¢¢5 <￿'hO ￿e •150 the of Hudway Luion Limited for the P￿rPOSeS of company law) ar¢ responsible for prewin8 the Report of ihe Trusie¢s and the fin•n¢i•l stsi¢m¢nts in •¢eordin¢e with •pplicible and Uniled Kingdom Accounlin8 SI￿d￿d$ (Unil¢d Kingdom Gcnernlly A¢¢epied A¢¢ounling Prn¢li¢t). COmp￿Y law require5 the irusttts ¢0 prrpare fin￿¢1•1 stsiemcnts for eleh fIn￿ellI yur which Bive • true and f•ir view of lh¢ slate of aff•its of the ¢hAriiable compny Ind of Ihe in¢omin8 f¢SC4Jffes And Appli¢alion of resourca. includin8 the in¢ome ￿Pendit￿e. of the ¢h•ritsbl¢ ¢ompthy for thil period. In preparin8 those fiNn¢i•l Slll¢mcnts. Ihe irnM¢es requittd io select suitablc a¢￿￿ThI1118 p)li¢its ind ihen Apply thcm ¢onsist¢nlty: obseThe the meihods and principles in the Chirity SORP. m•k¢ judgements *nd estimates ihi rusonible ind pryd¢ni; - sthte whether Jppli¢•ble ￿Coun(ln8 sl•ndwds hav¢ bec￿ followed. subjttl lo M•t¢r1￿ dtparnitts disclosed Ind expl•ined in ihe finknci•J slalernents,. pr¢par¢ the finoneial #•lements on ihe 8oin8 concem b￿1$ unless il 1$ iMpproryi2le to pffesume ih•l lh¢ charitsble ¢omp•ny will cominu¢ in ￿SIness. The tru$ttt¥ ar¢ r¢spoAsible for k¢¢pin8 proper iccouniing r¢cwds which dixlose wilh T¢u0n￿le Kcurxy al lime the fin•n¢ial position of ih¢ chwitsble compny •nd io enable them io ensure ihli the fininciil Malem¢nts ¢omply with Ihe Companies Act 2006. They •Te also T¢sponsible for ￿feguardIng the asseis of ihe Ch￿l￿ble ¢omp•ny And hen¢¢ for Mking rtason•ble Sleps for the preveniion and dctedion of fraud other irr¢8ularities. In so far •s lh¢ tru#¢ts ue awue: there 1$ no r¢l¢v*ni wdil infonnation of which th¢ ¢hvitsble compkn￿$ •wdilors •re •nd the truslees hAve t￿en all sieps that they oughi io have tsken to make theM￿1ve$ •w*e of any relevani •udit infornjation and to ¢stsblish that the audim aware ofthat infomi•lion. AUDITORS FKCA Limii¢d •r¢ d¢¢med io b¢ It-￿Pointed und¢r S¢¢lion 417(2) of the Companies Aa 2006. The Report of ih¢ Truslees h•$ been Prewred in with the SpKI￿ provisions for smlll wmp•nies under P• 15 of the Companim A¢1 2006. Approv¢d by ord¢r of the bo4￿ of trusl¢es on .... . .. and si8ned on its behalf by: MrA H￿dky- Trustee Pagt 7 REPORT OF THE INDEPENDENT AUDITORS TO TIIE MEMBERS OF IIEADWAI. LIITON LTD (REGISTERED NIIMBER: 03917437) Opinlon We have oudiied the financial stalements of Headwoy Luton Lid (Ihe '¢hiritsble compAny') for the year cnd¢d 31 March 2024 which Comprise thc Siatemeni of Fin•n¢lal A¢liviiies. Ihc Balanc¢ Sheei and noies lo ihe fin•n¢ial Slalemcnts. including * summary of significant x¢ounlinB policies. The fin8ncial reportin8 framework that has b¢en applied in iheir prep&ratTon is applichble law and United Kingdom Accounling Slandordj (Uniled Kin8dom Generally Ac¢¢pl¢d Accounting Prnctice). includin8 Ftnan¢ial R¢portin8 Siand3rd J02 Tr Financial Reporting Stsndard applicable in the UK and Republi¢ o(Irel•nd'. In our opinion the financial stsiemenls: give a true and flir view of the slaie of ihe chariiable company's )ff&irs as at 31 Mar¢h 2024 and of ils incomin8 resources Ind ipplication of resources, in¢ludin8 t(s income and expendilure, for the year theyl ended; have been properly preptr¢d in accordance wilh United Kingdom Generally Accepted Accounling Practic< inCl￿dIng Fin¥n¢ial Reporting Standard 102 'The Finon¢i81 Rcportin8 Sthndard •pplicabl¢ in the UK 8nd Republic of Ireland,; and hgve been prepar¢d in aecordanc¢ with ihe r¢quiremenls of the Companies Acl 2006. Basts for opinlon We conducied our audil in accordance with Intern*tion81 Siand)rds on Auditing (UK) (ISAS {UK)) and applirAble law. Our Te5wnsibilili¢s under ihose stsndards •r¢ further described in th¢ Auditor5. responsibilities for the audii of ihe financial stalement5 5eclion of our report. We are independeJ)t of the charitsble company in accordance with Ihe ethical requirements thai arc r¢kvanl lo our kudil of Ihc financial siatem¢nts In the UK. including the FRCS Ethical Stsndard. and we have fi]Ifill¢d our oihcr ethical responsibilities in ¥c￿rdanCe wilh ihes¢ ￿qUirements. We b¢lieve that the audit evidence we have obtained is suffjcient and appropriate lo provide a ba515 for our opinion. Conelusions rel*ting to goinz fonctrn In auditing the finan¢i41 st8tements. we have concluded that the trustecs. use of the going concern basis of accounlin8 in th¢ PT¢paralion of the financial staiements is appropriaie. Based on the work we have perfomied, we have not identified any malerial uncertainlies relating lo events or condilions thaf. individually or colleclivcly. may cast significant doubi on the charitable company's ability to continu¢ as a going Concern for a period of at least twelve months from when the finan¢i81 slatemenls are authorised foT issue. OUT re$ponsibilili¢s And ihe r¢sponsibililics of ihe lrnslees with respect to going conr¢rn are deKribed in the relevani sections of this re￿rt. Other iDformition Th¢ mistees Are responsible for the oiher informalion. The other iftforniaiion ¢omprises the inforniation includcd in the Annual Repon, other th4n Ihe finan¢ial siltemcnts and our Report of Ihe Independeni Auditors thereon. Our Opinion on ihc financial slalemcnts does not cover the oiher inforniation and. except lo the ex¢ent otherwise expliciily Stsied in our repor¢ we do not express Any fomi of assuran¢¢ conclusion thereon. In conne¢tion with our audit of the financial statements, our Yesponsibility is to T¢4d the other infomiation and, ITr doing so, consider whdher the othcr informalion is materially inconsistent wilh the finan¢ial siilemcnts OT our knowledge obtsined in the audit or oiherwis¢ appcars to be miterially mi5stsled. If we identify such mal¢rial inconsisten¢i¢5 or ppar¢nt material misststements. we are required to delerniin¢ whether Ihis 8ives ris¢ lo a m&teTi31 misslalernent in the rjnancial slalemenls Ihemselves. If. bAsed on Ihe work w¢ have perfoTmed. we ¢onclude ihal the￿ is a material mi$statemcnl of this other infom)ation. we nr¢ required io report thai fa¢1. We have nolhin8 lo report in Ihis regard. Opinions on otbtr mat¢ers presrrlbed by Ihe Cornpinl¢3 Art 2006 In our opinion, based on th¢ work undertaken in the course of the audii: Ihe infornialion 8iven in lh¢ Report of ih¢ TTuslees for the financiil year for which thc fin￿¢181 slalements are prepar¢d 1$ consi51enl wilh the financial slat¢ments; and th¢ Report of the Trustees ho$ been prepfyred in a¢cordan¢e with applicAble legal requirem¢n¢s. Pa8¢ 8 REPORTOF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HEADWA), LUTON LTD (RECI￿ERED NIIMBER: 03917437) M*i¢ers on whlcb we Ire reqUIr￿ Io Ttyort by excepilo In lh¢ li8ht of Ihe knowl¢dge and unde￿￿nding of ihe ch4ritsbl¢ CoMp￿Y Ind ils envinynm¢nl ¢btsin¢d In the of th¢ •udit, we h*ve not id¢nlif*d m•leriil mis￿11¢m¢nIs in the R¢port ofihe Tfustee We h*ve noihing lo yeport in respe￿ of th¢ following m•n¢rn where the Comp•niu Art 2006 requires UJ w report 10 you if, in our opinion: &dequ￿t accountill8 rrford5 h*v¢ lJ¢en kem or thms for our •udit h•v¢ noi b¢¢n re¢¢iv¢d frnm branches noi visited by us; or the financi4151alemenl$ are no¢ in •8reement wilh the iccowilin8 r¢¢wds r¢turnJ; or certain diKlosures of twsfets, r¢muner•iion specified by liw •r¢ noi made. or we hive noi reeeived all the infonnition •nd explanations we rtquire for our *udil: 4X the ITUStee5 were not eniiiled lo lake idvanth8e oftht $m•ll c(rfnp•nies ex¢mplion from the reqvirem¢nt fo w¢pue • Stmegic R¢port or In preprin8 ihe Report of the Trn4¢es. Responsibillilu of trnsltts As ¢xpl4in¢d more fully in the Si•lemenl of Tn￿te￿ Responsibilities the irnA¢ei {who are al￿ the dire¢wn of the ¢hArilable ¢omp•ny foT the purpoxs of ¢oMp￿Y Iiw) Ire responsibl¢ for ihe prepvlilon of the rinWKi￿ sts*ments WMI for beiThg ￿11$fied thil they give • and hir view. Ind for sy¢h inlernll contsol as the trustsd dtlerniine is neCe￿ry to ¢n4bl¢ ibe preparnlion of fin*Ki•l ￿￿eMents ihai Ire free from malerial misst*trmenL whethu due lo fr•ud or ernr. In pr¢puin8 the fin•nci•l *#tements, the trusitts •re r¢5ponsible for •ssessin8 Ihe ¢h•ritsbl¢ CoMp•n￿$ ibllity ¢ontinue as a £oing con¢em. di￿1051n% u •ppli¢•ble, miffers relikd 10 80ing roncm Ind usin8 th¢ 80in£ ¢on¢ern basis of accoumin8 unless lh¢ Irusitt$ either intend io liquidate the ¢hirilabl¢ company or to eease OP¢T•¢ions. or h#v¢ no rtsJiMi¢ ￿*M•¢ive Imn w do so. h8e9 REPORTOF THE INDEPENDENT AUDITORS TO TIIE MEMBERS OF HF.ADWAY LIITON LTD IREGISTERED NIIMBER: 03917437 Our re5pon5iblli¢ie$ for the audli of tht finincithl slalemtnts Our obj¢¢¢iv¢s Ire 10 obtain reasonable 4ssurnn¢e iboul whdhcr the fin•n¢i•l stat￿n¢ntS ws a wholc lie free from material misstsiemenl, whether due lo fraud or eTfoT, and 10 issue a Report of the Indcp¢ndent Auditors Ihil in¢lud¢J our opinion. Re#sonable assurancc is A high l¢vel of a$surancc. bul 18 not * 8UAranl¢e th81 an audil conduthed in accordanee with ISAS (UK) will alw•y$ deleci • material missl•lemenl when il exiits. Misslalements un Jrise from fraud or error and are considered mal¢ri•l if. individually or in th¢ a88r¢8ate. Ih¢y could r¢•sonobly be ¢xpected influence the economic decisions of users iaken on ihe bLqi5 ofiheie financial siiiemenll, The exlent lo which our pro¢¢dures are ¢Apabl¢ of delc¢tin8 irre8ul4rilies. in¢ludinB frAud is d¢tsiled below: In ideniifying •nd assessing risks of malerill missialemenl in respeci of irre8ul•rilies. includ•nB filud ind non ompliance wilh laws •nd r¢guliiions, we consid¢red ihe followin8: l. The nJlur¢ of the chirity, control environment #nd the charity's perfomiance. 2. Enguiries wilh manogemeni hbout their own id¢ntificalion and asse5smenl of ihe risks of irr¢sularilie$. 3. Tre matters disc￿ssed amon8 the audil l¢am re8grdinB how gnd where fr•ud mi8hi occur 8nd frnud indicaton. As i result of these pro¢edures, we ¢onsider¢d the opportunities and in¢entiv¢$ that moy exist within the ors•nisalion for fraud. In ¢ommi)n with ¥ll Audils under ISA'S IUK). we also requir¢d lo perforni specifi¢ pnKedur¢$ to respond 10 the risk of minaBemcni override. In •ddiiion w¢ considered the legal and regulatory framework Ih&l the charity ¢)p¢rntes in. flxusing on PTOViSiOThS of Ihese laws and re8ulations that had A dire¢1 ¢ffecl on the d¢t¢miination of m•terial amoums and dlxlosu￿S in the fin•n¢ial slat¢m¢nts. Key l•w$ ¢onsider¢d in¢lude the UK Companies A¢t and UK Tax Legislation. We also ¢onsider¢d ihose laws resulalions ihal do not have a dir¢¢i ¢ffed on the finan¢io1 A•iem¢nts bul compliance wilh which may be fund•m¢nthl lo th¢ ¢harity's •bility lo opernle or avoid a malcrial penalty. Audit response to risks identitled: T¢$ting w•5 undertaken 10 iddress Ihe risk of m*na8emenl oveThidc which included the review I Icslin8 of any ye•r end journals and ￿ assessment of whdher the judgements m*de in m•king accounlin8 e5timales ar¢ indicative of Wentijl bias. ll￿¢ 10 the Jiu of lh¢ •¢¢ounlin8 fun¢lion we hav¢ also carried out lesling lo assess Ihe risk of fraudulent p•yment$ whi¢h included subslanlive testing on • umple of payments made durin8 the reporting period. W¢ rem11n￿ alert lo any indications of fraud or non compliance throu8houi Ihe enliTe audit pm¢ess. A furthti d¢scription of our ￿SPonSIbl111•e5 for the audit of the financial stsl¢menl$ 1$ lo¢Al¢d on the Finan¢ial Reportin8 Council's website at www,frc.or8.ukl4uditorsresponsibililies. Thi$ description fomis PArt of our Report of the Independent Auditors. Pi8¢ 10 REPORTOF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HEADWAY LIITON LTD (REGIST£RED NVMBER: (13917437) of our report This repon is m•de solely 10 the ch8ritibl¢ company's members, As • body, In ic¢ordm¢¢ wilh Chapi¢r 3 of PAM 16 of the Companies A¢1 21)06. Our ludit work his been undertoken so that we Th18ht stale 10 ihe ¢hiTil*bl¢ comp•ny'$ memb¢rs I￿se mitters we are required io slaie lo them in an •udiiors' reporl •nd for no oiher purpose. To ih¢ fvllesl extcnt permifted by liw. we do nol accepi or assume responsibility lo •nyon¢ other than Ihe ¢haril•bl¢ company •nd Ihc h•Til•bl¢ wrnpany's membets a5 • body, for our audii Work, for this r¢port. or for the opinions we hAve fornied. Tarn Aldwin ACA {Senior Ststutory Auditor) for and on b¢h¥lf of FKCA Limil¢d 260- 270 Butlerfield Gr¢•i Marlin85 Luion B¢dfordshi LU2 8DL D•ie: ... Pagell HEADM'A Y I.IITON I.TD STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE AccouNr) r•r the Yeir E#d¢d 31 MARCH 2024 2024 Tothl funds 2023 To¢•1 fundi UnMtri¢led funds R¢Mrict¢d funds No*s INCOME AND ENDOWMEwfs FROM Donations and legaeies 6,979 6,979 7,989 Chgrlt•ble 4rtlvitles Charil#ble Aclivilies 213,271 149.966 433244 399,988 Oiher ¢ndin8 acIiviii¢$ InvesThnent income 1.243 257 1,243 257 3.194 197 Tot•1 291.757 441723 411361 EXPENDITURE ON R•i3in8 funds 1.857 1,857 1,416 Ch*ritsble a¢ilvl¢i Charit•bl¢ Activili¢s 149 314 419420 413 990 Totsl 271963 149314 421 415476 NET INCOMEJ(EXPENDITURE) 19.794 652 20.446 (4,108) RECONCILIATION OF FUi¥DS ToLg1 funds brou8hi forwwd 519.587 111.477 631,064 635,172 TOTAL FUNDS CARRIED FORWARD 539381 112.129 651510 CONTINUING OPERATIONS All income and exp¢nditure has •risen from continuin8 •Ctiviiies. The noies forni p•n of th¢se fimneial stslcm¢nts Pa8¢ 12 HEADII'AI, LUTON LTD (REGI￿ERED NUMBER: 03917437) BALANCE SHEET 31 MARCH 2024 2024 2023 No¢¢s FIXED ASSETS Tan8ible assets 10 516,738 521,160 CURRENT ASSETS tkbiors C45h at bank and in hand 32,279 42,762 101345 141,590 144,107 CREDITORS Amounts fallin8 due wiihin one ye 12 (13,818) <34,203) NET CURRENT ASSETS 134 772 109.904 TOTAL ASSETS LESS CURRENr UABILITIES 631.510 631.064 NET ASSETS 651510 631.064 FUNDS Uttrestricted funds R￿trIcted fvnds 14 539,311 112 129 519,587 111.477 TOTAL FUNDS 651510 631.064 Ih¢Je financial sl•lements hav¢ been prepared in a¢¢ordan¢¢ wilh lh• provisions •pplicable lo ¢h•riiible ¢ompanies bjecl to the sm811 ¢ornp•nies r¢iime. Th¢ fin￿¢1•1 $tatemenlJ were aPPToved by the B￿rd of Tru$t¢¢s •nd auihori*d for issue on . knd w¢r¢ sign¢d on its behalf by: eadley. TNstee Mr B H B•teson - TNs1¢¢ The notes forni part ofthek finoncial Sthiements P4¢ 13 HEADWAY LUTON LTD NOTLS TO THE FINANCIAL STATEMENTS lor the Ye•r E￿¢d 31 MARCH 2024 ACCOUNTING POLICIES Ba￿$ of prepar•don The fmancial slaicments have i*en prepared under the hI￿Or1¢&I cosl ¢onvenlion with i*mJ re¢o8niJed al cosi or transaciion value Unless otherwi% Stsled in the rekvant nole($) to these fmancial $taternents. The fmancial Stsiements have becn prepared ID xwrdan¢e with Accld Jand. The residu￿ value of the freehold building {ex¢ludin8 the lifi upgTade) is deemed ￿ be at I￿1 equal ￿ the value recordeAI in the f￿￿¢1&1 $tat¢ments. AJ Juch any deprttialion would be ne8ligiThle nol been provided for. The carryin8 v4lues of thn8ible r￿ed wets ￿VieWed for impainDeni in peri￿9 if events or changes in ircumsiantts indicate the vilue miy noi be r¢cover•bk. Tuallo The charity is ¢xemy from eorporntim tsx c• its ¢h•ntabl¢ Aclivities. Fund •¢countlnt Unrtstricled funds are available for use il the di%relion of the trus*es in firth￿¢< of the 8enernl obje¢tiv of the ¢harity and whi¢b have noi been dcsi8nattd Cor otherpurpo8¢& Restricted fiwds aTe fimd5 which are to be us¢d in aL*ordance with qx¢ifK ￿triC(lOn8 imposed by d(mOTS or which bave been rnised by the ¢h*ity for pull¢ul￿ purp)ses. The Cost of raising Administ¢rin8 such runds are C1w8￿ •8aw¢ the 4>¢cifi¢ furKI. This includes grant fuods wbich *¢ 8Aveo for spKifi¢ pury)(w. P¢Dilon costs PayThents rn￿e directly ￿ illdividual ejnployee persoMI peDAon pl￿$ by the ch•rity are char8ed to the Stsiemeni of Financi￿ Aeiiviiies when Paid. Government 8r*nts Governmeni grants are re¢ognised wheD il 1$ reason•bk to expeci thai the grnnts will be received and thai all rejaied conditions will be mel. usually on submission of a valid claim for paymenL Grnnts of a revenue nature are credi*d to ine4)rne so ￿ to mal¢h them with the expenditslle to ￿1¢h relate. DONATIONS AND LEGACIES 2024 2023 7.989 OTHER TRADING ACTIVITILS 2024 2023 Fundrnisitig events 243 Pagc 15 conlinued... IIEADWAY LUTON LTD NOTES TO THE FINANCIAL STATEMENTS- conllnutd for the Ye*r Ended 31 MARCH 2024 INVE￿mENT INCOME 2024 2023 257 197 Inieresl r¢ttived CHARITABLE AcfiviTIES cosrs Costs directly illrtited ¢0 Actfvltles B•ils of Iltseltlon Rililng fundi A¢tu*l Ch•rlt*bk 2024 Totil 2023 Totsl St•(fcosts Day centre ¢xpenses Gencrnl offite rx)sts Computer expeThs¢$ TTivel Trninin8 Fund rai5in8 costs Voluni¢er expenses LK8al pftjfessional fces Governjnce costs: Audit and 8¢¢0untan¢y Book-kt¢pin8 342,827 8,117 6296 2,307 464 1265 342.827 8.117 6.296 2,307 336.696 9.725 5,437 1.034 1,127 1,209 1.486 813 766 1,265 1.857 383 1240 1.857 383 1240 8.389 8,389 8,413 376 808 378 665 Support Cogts •lIo￿ted lo actlYl¢les Premi$es Communiealion$ Lkpre¢i8tion Usaze 34,020 4.170 4.422 34,020 4.170 34.521 2.896 1.857 421 419.420 ￿77 415.476 NET INCOMFJ(EXPENDITURE) Net In¢omel(ex￿ndl(urc) is Jtsled •ft¢r char8inW(credilin8)', 2024 2023 D¢pre¢iAtion- own¢d assets Audit fees Other i¢¢ounthn¢y servirxs 4,422 5,060 6.650 4,820 Page 16 continued... FIEADM'AV LUTON LTD NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnu for the Year Ehd¢d 31 MARCH 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no trusle¢s' remuneralion OT Other benefils for Ihe year ¢nd¢d 31 Mtr¢h 2024 nor for the yur ¢nd¢d 31 M&r¢h 2023. Tru$ltes' exptn$ts There W¢T¢ no 31 Mwch 2023. INslees' ¢xpense$ paid for the year ended 31 Mar¢h2024 nor for ihe yeu ended STAFF COSTS 2024 2023 Wa8¢s s•lwi¢5 Social st¢urity c0513 Oih¢r pension ¢osts 310,099 17,756 303.412 18,500 342 827 336 696 The avernge monlhly number of employees during the year w*$ as follows: 2024 15 2023 13 Head iryury serYic¢s M￿ageMent Ind administralion 17 16 No employees received ¢molumenls in ex¢¢55 of £60,000. COMPARATIVES FOR THE ￿ATEMENT OF FINANCIAL ACTIVITIES Unreslri¢ltd funds Rcstri¢l¢d funds Toial funds INCOME AND ENDOWMENfs FROM Donations ind le8aci¢$ 7,989 7,989 Cb•ril*ble Adlvltles Charitable A￿1VitieS 260.215 139.773 399.918 Other tradin8 a¢tivilies Inv¢stmenl income 3.194 197 3,194 197 To¢AI 271595 139773 411368 EXPENDITURE ON isin8 fvnds 1,486 1.486 Charliible irtlvlelts Charillble Aclivilies 270013 143.977 Tot•1 271.499 143.977 415476 NET INCOMEI(EXPENDITURE) 96 (4204) (4.108) P48¢ 17 continued... HEADWAY LUTON LTD NOTES TO TIIE FINANCAALSTATEMENTS- eotstlnued for Ihe Year Ended 31 MARCH 2024 COMPARATIVES FOR THE sfATEMENT OF FINANCIAL A￿1vITIEs- con(Inued Unrcsirirted Restri¢l¢d funds funds Total funds RECONCILIATION OF FUNDS Total funds broughi forward 519,491 115,681 635.172 TOTAL FUNDS CARRIED FORWARD 519587 111477 io. TANGIBLE FIXED ASSETS Compuier equipment and olh¢r equipmcnt Fixlurej Freehold property rJrtAn8S Totsls cosr At l April 2023 and 31 March 2024 627.741 11.788 45.544 685 073 DEPRECIATION At l April 2023 Charge for year 108.969 3.761 10.187 268 44,757 393 163.913 At 31 Mar¢h 2024 12,730 45.150 168 NET BOOK VALUE At 31 Marrh 2024 515011 333 394 516738 Ai 31 March 2023 518772 787 521.160 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade d¢btors Prepayments 8nd accNed income 29.474 2.805 40,135 2.627 32279 42,762 Pa8e 18 ¢onlinued... HEADWAY LUTON LTD NOTES TO THE FINANCIAL STATEMENTS- tonilnued for the Y¢ar Ended 31 MARCH 2024 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 A¢crua15 and defeffed incom¢ 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Tolol funds 2023 Tolal funds Unr¢$iri¢i¢d funds Resiri¢i¢d funds Fixed assets CuTrent ass¢ts Curr¢nt liabililies 405,809 147,390 13 818) 110,929 1,200 516,738 148,590 13 818) 521,160 148Jll 38 407) 539381 112 129 651510 14. MOVEMEwf IN FUNDS Net movement in fvnd5 Tran3f¢rs Ai 31J24 At 1.4.23 funds un￿stYl￿ed funds General fund Property Fund - Designated fund 519.587 19,794 (408291) 408291 131,090 408.291 519587 19,794 539.381 Restricted funds Headway Hous¢- Capiial grnnt Oiher capital grant Oihcr ￿pital donalions LBC - Heritage Art Project 34.731 71,989 4,757 34,731 71.989 4,209 1548) 111.477 652 112 129 TOTAL FUNDS 651 Slo Pa8¢ 19 conlinued... HEADWA Y LUT014 LTD NOTES TO THE FINANCIAL STATEMENTS- eonllnued lor the YeAr Ended 31 MARCH 2•24 MOVEhlEKf IN FIINDS- tonllhued movem¢ni in funds. included in Ihe Ibove •re •$ follows: In¢omin8 It￿vre¢S Resour¢es ¢xpended Mov¢menl in funds Unregtrleted funds Genernl fijnd 291,757 (271,963) 19,794 Resir1c¢￿ funds Diy centre operalion•l cost Community support service Other capital donaiions The National Lknnery Community Fufid- Cost of Livin8 Fund BLCF- M¢nthl h¢alth Br*nl LBC - retenlion •nd recNitin¢ni gt•nt Wixwntrc¢ Tnjst The Nalional Lott¢ry Community Fund- Coron•iion P•rty LBC- Herilnse Art Projecl 44,488 S4,790 {44.481) (54.790) 1548) (541) 17,432 5,266 20.000 2,190 117.432) (5.266) (20,(X)O) {2,190) (3.900) 149.966 149314 652 TOTAL FUNDS 441,723 421277) Cornp*r•tfves for m•vemenf ID lknfjds N¢1 mov¢mt in funds Ai 31.3.23 Al 1.4.22 Unmirk¢ed G¢nernl fvnd 519,491 519,587 RertrlCI￿ fvnd$ Headwiy House- Capital 8r•nt Other ¢•pital gr•nl Other c•pilal doniiions Sport En8land Arts C¢un¢il N￿lon1] Loff¢ry Proi¢¢i 34.731 71,989 5.305 2,500 34.731 71.989 4,757 (548) {2,500) 115681 111477 TOTAL FUNDS 635 172 Pa8c 20 Continued... HEADWAV LIITON LTD NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued ror the Ye•r Efjded 31 MARCH 2•24 14. MOVEMENf IN FUNDS- tonllnued Compvative net movemenl in funds, included in the abov¢ we u follows: In¢¢min8 rewurces Resour¢¢s ¢xp¢nded Mov¢ment in (unds UDMlrkned fvthds GeKral fund 271.595 (271.499) R¢strftled fundi Day centr¢ OPttllion•l ¢o$i Community supporf seryice Other c•pital don81ions Sport England Arts Coun¢il Natiofi•l Lon¢ry Proj BLCF- Mentsl health gr￿¢ BLCF- Mew health grnnl LBC- rei¢nlion and T¢¢ruitrneni 8rini BLCF- Jubilt¢ gr￿( 44.411 53.977 (44.411) (53.977) (548) (2.500} {4,259) 110,534) (4.911) (20.000) 2.760 (541) 12,500) 11.156) 3,103 10,534 4.911 20,01)0 2.760 4.204 TOTAL FUNDS 411,361 415.476) 4.108) P•rpoMs of r¢#rleted The fimds for the Community Support service •Dd Cenire y•nts ff¢eived for th¢ ¢hArity 10 undert*k¢ these Jp¢cific services. The H¢¥dway House and oiher ¢•pilal 8rants fvnds represent granls originally received in ihe yeaTS ended 3 Isi March 2000 10 31st Ma￿h 2002 for ihe charity lo pur¢h•s¢ tht freehold premises from which io operate services. The oth¢r ¢•pitsl donations r¢pr¢s¢M monies received io fund tht upY￿e of Ihe new lift within the charity's fr¢ehold prtmisu. The fvnds from Sport En8lthd were ¢0 fimd ￿y$•Cal *clivity as part of their proi¢cl wilh Versu$ Arthritis. The funds from the Arts Council, funded by the NJiion•l Lfftry Wtrt io brelk down b￿lerS and brin8 the arts th¢ ¢lieAts of He￿Way. The funds from The N•iion•l Lott¢ry Community Fund (C¢)st of Living Fwid) w¢tt io fund ￿ addilion•J ¢￿nmunity svpport worker pNI. The fund5 fTom The Community Recovery Fund vi• Bedfordshirt and Lylm Community Found•iion (BLCF) were to improve Ihe mentil health of adults with •n 14uir¢d brain injury. Th¢ fimds from The GVC Fund via B¢d(ordshirt Commwity Found*ion were lo eXP￿d on ¢xisiin8 •¢livilies and pilolin8 new oncs for rn¢n livin8 with •n •¢quir¢d brain injury. The funds from ￿10ft Borough &un¢il (LBC) were lo wilh the ￿entiOn Ind remitment of sthff followin8 the Covid -19 p&)demi¢. The Jubilee Granl via B¢dfoTdshire 4th1 Luion Community Founthiion wwe to fund ￿tIvi11¢S lo ¢el¢br•le the Qu¢¢ns Platinum Jubilee in Junc 2022. Th¢ fund5 from Ihe Wix•mtyte Tr￿ were to r￿d new ¢li¢nl plKem¢nlS. P4¢21 ¢ontinu¢d... HEADWA Y LIITON LTD NOTES TO THE FIliANCIAL STATEMENTS- ¢oDilnued for the Ymr Ended 31 MARCH 2024 14. MOVEMENT IN FUNDS- ¢•thtlnued The fvnds from The N•tioMI IA)ttery Community Fund werc ￿ fund c¢l¢brntions fol the Kin8'1 Coron•lion. The fiuth from Lu￿n Borollgh Council wert to fund a H¢riM8e Art Proj¢rt . Transfen bttween fund$ Funds have been desi8naied by the trusl¢¢s io ¢ov¢r the ¢os¢ of Ihe ¢h•rity's freehold pr¢miseJ. I& RELATED PARTY TrANSAcnoNS Ther¢ were no related p•ny trwuKtions durin8 the yev {2023 - none). 8e22