REGISTERED COMPANY NUMBER: 03917437 (England and Wales) REGISTERED CHARITY NUMBER: 1080775 REPORT OF THE TRUSTEES AND FINANCIAL STATEMEIYTS FOR THE YEAR ENDED 31 MARCH 2025 FOR HEADWAY LUTON L TD
HEADWAY LUTON LTD CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 MARCH 2025 Page Reference and Administrative Details Report of the Trustees Report of the Independent Auditors 8 to 10 Statement of Finaneial Aetivitie$ Balance Sheet 12 Notes to the Financial Statements 13 to 21 Detailed Statement of Financial Activities 22 to 23
HEADWAY LUTON LTD REFERENCE AND ADMINISTRATIVE DETAtLS for the Year Ended 31 MARCH 2025 TRUSTEES Mr B H Bateson Treasurer Mr A D Headley Mr A Malik Mrs A Morgan Mrs V Headley Mr C Harvey Chair Mrs Y Roach (appointed 28.8.25) REGISTERED OFFICE 49-53 Altna Street Luton Bedfordshire LUI 2PL REGISTERED COMPANY NUMBER 03917437 (England and Wales) REGISTERED CHARITY NUMBER 1080775 INDEPENDENT AUDITORS FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL CHIEF EXECUTIVE Mr G Atkins Page I
HEADWAY LUTON L TD (REGISTERED NUMBER: 03917437) REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. They are prepared in accordance with the accounting policies set out in note I to the fmancial statements and comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Associalion and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities Preparing their fmancial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019}. OBJECTIVES AND ACTIVITIES Objectives and aims The charity's objectives are for the relief of adults who have an acquired brain injury {ABI) andlor any other neurological condition, Iheir families, carers and other related professionals by the provision of advice, infonnation, services and facilities as required by such persons. To manage and run activities, day centres, visiting services and support groups in furtherdnce of the objeclives. To create a wider understanding of brain injury within the community. The trnstees have referred to tbe guidance conlained in the Charity Commission's general guidance on public benefit when reviewing their aims and objectives and in planning future activities. In particular, the trnstees consider how planned activities will contribute to the aims and objeclives they have set. Page 2
HEADWAY LUTON LTD (REGISTERED NUMBER: 03917437) REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE Charitable activities The board of trustees strongly believe that we should all be proud of our achievements throughout the fmancial year delivering a wide range of support to people with an acquired brain injury, their carers and/or family members despite th¢ growing financial pressures currently being experienced by many charities across the UK, including Headway Luton. These pressures included.. Ongoing national inflation increasing ¢ost of supplies, energy costq and essential maintenance - Local authority budget overspends limiting local charity support and funding Shortage of qualified social workers delaying assessments and centre placemeni funding Increasing individual's contribution 10 their social care packages making it financially difficult for clients to afford social care. impacting on Headway centre attendance income. These financial pressures all contributed towards Headway Luton to end the year with a financial loss for the first time since our incoryoration in 2000. Primary Objectives: To delivcr person centred care and support to people with an acquired brain injury to meet their individual needs throughout our area of operation. To be creative in our service delivery to ensure costs are kept to a minimum without impacting on the quality and diversity of our support. To focus our output on clients, personal health and wellbeing objectives. To continue to plan and deliver a wide range of centre aclivities offering clients variety of chokces and centre attendance opportunitieq. To ensure all staff and volunteers are provided with appropriate training and support in their roles and to encourage personal development of their skills and knowledge. Clients accessing services throughout 2024-2025: Numbers of clients attending our centres reduced foi the second year running due lo a slowing down of agreed funding for new clients, centre placements by local authorities, who were a150 affected by inflation, budgei overspends and staff shortages. Total of clients supported in the community and at our centres in Lulon and Houghton Regis.. 175 adults with an acquired brain injury 28 family memberslcarers with support, advice and infonnation Client statistics in brief (further statistics may be found on our website headwayluton.com) Sex Male Female ABI (including stroke) Traumaiic brain injury Other neuro conditions Luton Central Beds Other 670/0 33/0 73% 24% ABI Causes Areas of residence 68% 27% Page 3
HEADWAY LUTON LTD (REGISTERED NUMBER: 03917437) REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2025 Centre staff and volunteers: Two members of staff retired towards Ihe end of the year allowing additional hours to be allocated to our part time centre staff where necessary and the opportunity lo recruit our fst apprentice in the following year. This was an achievement as it required considerable research into the best courses available that enabled on site training and study time, and this is already proving a success. We aim to use this meihod again when appropriate and funding is available to increase the entre staff team. Our part time Volunteer Co-ordinalor successfully recruited twelve volunteers throughout the year and produced a new induction programme and training schedule, while also providing opportunities for iwo young people lo gain some work experience in the centre. Community Support staff.. The Community Support Manager and part time CSW were kept extremely busy Wlth many new referrals from individuals, families, ASC teams and other health agencies requesting support with benefit appeals, health appointment support, debt management, ABI advice and infomiation. The team rnanaged to contact all new referrals within our ten day published timeframe and arrange a client assessment of need interview either at the new clients, home or at the centre. whichever was deemed the mosi appropriate venue. Detailed monitoring of key service perfonnances to the funders NHS BLMK ICB were regularly provided by the team. helped by our Business Support Officer, and meeting the ICB contract manager online. Building improvements: We were fortunate to receive a large grant lo improve the comfort and energy efficiency of our building in Luton. To this end we fully spent the grant on having solar panels installed on our roof with two batt¢rie5 to store unused energy for overnight power use, and insulated suspended ceilings on two floors with low cost LED lighting fitted. Other grants included {all grants are listed within the a¢¢ounts).' Bedfordshire and Luton Community Fund for providing clients with 121 ernotional support, supported personal shopping and other independeni living assistance as required. Luton Heritage lottery grant for an art project to inspire the creative Works made by people living with an ABI. Sports England grant for physical exercise tutors, sport equipment and staff training. Wixamtree Trust paid for people to attend the centre that were waiting for lo¢al authority funding to attend the centre or for emergency additional days. Headjvay Luton appreciation of support: The board of trustees are extremely grateful for all clients and their families and carers, staff, volunteers, fellow tSteeS and grant funders for their continued support thToughout a very busy, sometimes challenging, but very success1 year despite the financial pressures we were under and necessary staff changes. Page 4
HEADWAY LUTON LTD (REGISTERED NUMBER: 03917437) REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2025 FINANCIAL REVIEW The results of the cbarity for the year are sel out in the Statement of Financial Activities on page I l. Overall the charity had a deficit for the year of £ 11,182. Prineipal funding sources Grant income for the year totalled £175.987 and was made up as follows:_ Restricted.. NHS Beds, Lulon and Milton Keynes ICB - Community Support Service Bedfordshire and Luton Community Foundation (Luton Borough Council) - Day Centre 55,119 45,688 Wixarntree Trust Groundwork UK Energy Fund Sport England Arnold Clarke 5,000 62,914 6,766 500 175,987 All other income totalled £284,455. Charges for ihe day care service were £274,419, Fund raising contributed £1,380. other donations £8.408 and interest received £248. Reserves policy The trusiees review the level of reserves periodically lo ensure that the charity is able to be managed efficiently and to provide a buffer for unintemipted services. It is their policy to maintain unrestricted ndS at a level which equates to at least six montbs expenditure. This provides sufficient funds to Gover management, administration and support Costs. PLANS FOR THE FUTURE To continue lo review our charity Consti110n and governance policies to ensure they reflect our CUent aims and objectives, and how we conduct our business in legal compliance of the Charity Commission and Companies House regulations. To review our recruitment policies, practic¢s and training opportunities for tnLStees and staff to ensure a wide range of skills and experience to help fulfil our charity obligations. To ¢ontinue with the development and expansion of all Headway Luton services towards the fulfilment of our mission statement. To iniliate a consultation process with staff regarding the future shape of services in light of the ongoing fmancial pressures that will continue for the foreseeable future. To work towards a constnjctive. creative and achievable business plan for the next 2-3 years. To increase marketing and promotion of our services throughoui all communities within our area of operalion. To work collaboratively with other Headway groups and ABI related services throughout our region and to strengthen our network of other health related agencies. Page 5
HEADWAY LUTON LTD (REGISTERED NUMBER: 03917437) REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity was incorporated on l February 2000 as a private company limited by guarantee, registered in England and Wales, after having been in existence for about eleven years as an unincorporated entity. It registered as a charity on 15 December 1997, with the charitable company being registered on 18 May 2000. The charity changed its name from Headway South Bedfordshire Limited on 22 October 2008. The governing documents currently in force are the Memorandum and Articles of Association. There are currently 7 members (trnstees) (2024 - 6) each of whom agrees to contribute an amount not exceeding £10 in the event of the charity winding up. Appointment of trustees Trustees are appointed by the management committee, subject to approval at the following annual general meeting, which is nonnally held in November. At each AGM the two longest serving trusiees retire but may offer themselves up for re-election. Organbsation The names of the trustees who served during the year are set out on page l. Board meetings are held regularly on a monthly basis, with ad hoc meeiings being held as and when necessary. The chief executive officer has the overall responsibility for all operational activity, service quality, contract achievement and futhre developments to meet service demands. withm a budget sel and overseen by the board of trnstees. Risk management The trustees cary out an annual review of the risks which the charity may face, have established systems and procedure5 to mitigate any risks identified and minimise any potential impact should any identified risks malerialise. Page 6
HEADWAY LUTON LTD (REGISTERED NUMBER.. 03917437) REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2025 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Headway Luton Limited for the purposes of company law) are responsible for preparing the Report of the Trnstees and the fmancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trusiees to prepare financial statements for each fanCIal year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In Preparing those fjnancial statements, the lnteeS are required to select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent. State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the fmancial statements; and prepare the fmancial Stsiements on the going concern basis unless it is inappropriate to presume that the charitable company will conlinue in business. The trllstees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial posltion of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the a5.seis of the charitable con]pany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trusiees are aware: there is no r¢l¢vant audit infonnation of which the charitable company's auditors are unaware; and the trustees have taken all steps that they ought to have taken to make th¢mselves aware of any relevant audit infonnation and to establish that the auditors are aware of that infonnation. AUDITORS FKCA Limiled are deemed to be re-appoinied under section 487(2) of the Companies Act 2006. The Report of the Trnstees has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. Approved by order of the board of trustees on .......... .. .. and signed on its behalf by.. Mr C Harvey - Trustee Page 7
REPORT OF THE INDEPEIYDENT AUDITORS TO THE MEMBERS OF HEADWAY LUTON LTD (REGISTERED NUMBER: 03917437) Opinion We have audited the financial statements of Headway Lulon Lid (the 'charilable company,) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the fmancial statements, including a summary of significant accounting policies. The fmancial reporting frarnework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountlng Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the fmancial statements.. give a true and fair view of the stale of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and eXpendire, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland,. have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards ar¢ rther described in the Auditors, responsibilities for the audit of the fmancial statementg section of our report. We are independenl of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responslbiltties in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conelusion5 relating to going coneern In auditing the fmancial statements, we have concluded thai th¢ tNstees' use of the going Concern basis of accounting in the preparalion of the faTr¢Ial statements is appropriate. Based on the work we have perforn]ed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may casl significant doubt on the charitable company's ability to continue as a going conceni for a period of at least twelve months trom when tbe fmancial statements are authorised for issue. Our responsibilities and the responsibilities of the trnstees wilh respect to going concern are described in the relevant sections of this report. Other informydtion The trustees are responsible for the other infonnation. The other inforn)ation comprises the inforniation included in the Annual Report, other t11 the fmancial statements and our Report of the Independeni Auditors thereon. Our opinion on the fmancial slalements does not Cover the other infonnalion and, except to the extent otherwise explicitly stated in OUT report. we do not express any form of assurance Conclusion thereon. In connection with our audit of the fmancial stalements, our responsibility is to read the other infomiation and, in doing so, consider whether the other inforniation is materially inconsisteni With the fmancial statement5 or our knowledge obtained in the audit or othenvise appears to be rnaterially misstated. If we idenlify such maierial inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the fmancial statements themselves. If, based on the work we have perfonned, we conclude that there is a material misstalement of this other inforniation, we are required to report that fact. We have nothing to report in this regard. Opinions oll other matters prescribed by the Companie5 Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the inforniation given in the Report of the Trustees for the fmancial year for which the fmancial statements are prepared is consistent with the financial statements- and the Report of the TTUStees has been prepared in a¢cordan¢e with applicable legal requirements. Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HEADWAY LUTON L TD (REGISTERED NUMBER: 03917437) Matters on which we are required to report by exeeption In the lighi of the knowledge and understanding of the charithble company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trnstees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires u5 to report to you if, in our opinion: adequaie accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or the fmancial statements are not in agreement with the accounting records and rethrns. or certain disclosures of trnstees, remuneration specified by law are not made- or we have not received all the inforniation and explanations we require for our audit. or the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trnstees. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities. the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the fmancial statements and for being satisfied that they give a trne and fair view, and for such inlemal control as the trustees delennine is necessary lo enable the preparation of fmancial statements that are free from material misstatcment, whetber due to fraud or error. In preparing the financial statements, the trnstees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to gotng concern and using the going concern basis of accounting unless the trnstees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Our respoDsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from maierial misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatement5 can arise from fraud or error and are considered material if, individually or in the aggregate, they could r¢asonably be expected to inlluence the economic decisions of users taken on the basis of these financial siatements. Extent to which our procedures are capable of detecting iTregularities, including fraud: IegularitIes, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to deleet material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of mat¢rial misstatement in respect of iegulatIcs. including fraud was as follows: The engagement partner ensured that the engagement team collectively had the appropriate compelence, capabiltties and skills to identify or recogni8e non-compliance witb applicable laws and regulations. We identified the laws and regulations applicable to the cornpany through discussions with directors and other managemeni, and from our commercial knowledge and experience of the sector in which the company operates. We focused on specific laws and regulations which we considered may have a direct impact material effect on ihe fmancial statemenls, or the operations of the company which included the Companies Act 2006, taxation legislation. data protection, anti-bribery, employment, environmental and health and safety legislation. We assess¢d the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence. and Identified laws and regulations were communicated within the audit team and the team remained alert to insiances of non-compliance throughout the audit. We identified the grealesl risk of material impact on the flllancial statements from irregularities, including fraud. to involve the completeness and timing of income recognition and the override of controls by management. To address the risk of fraud in relation to revenue recognition. we: Perfonned detailed substantive testing to address completeness and accuracy of income; Assessed the appropriateness and application of the accounting policy concerning income recognition. Page 9
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HEADWAY LUTON LTD (REGISTERED NUMBER: 03917437) To address the risk of fraud through management bias and override of controls, we: Perforn]ed analytical procedures to identify any unusual or unexpected relationships- Tested joumal entries to identify unusual transactions- Assessed whetherjudgements and assumptions made in delennining the accounting estimates were indicative of polential bias; Investigated the rationale behind significant or unusual transactions. Because of the inherent limitations of an audit, there is a risk thal we will not detect all irregularities, including those leading to a material misstatement in the fmancial statements or non-compliance with regulation. This risk increases the more thai compliance with a law or regulalton is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather tban Or, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. https://www.frc.org.uklOur-WorklAudiVAudit-and-a.ssurancelStandards-and- guidancelStandards-and-guidance-for-audttorslAuditors-re%ponsibilities-for-auditlDescription-of-auditors- responsibilities-foT-audit.aspx.This description forn]s part of our Report of the Independent Auditors. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might sthte to the charitable company's n]embers those matters we are required lo state to them in an auditors, report and for no otherpuTpose. To the fijllest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charithble company's members as a body, for our audit work. for this report, or for the opinions we have forni¢d. Tara Aldwin ACA (Statutory Auditor) for and on behalf of FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL Daie...L.É.....kn.boJ. &72 Page lo
HEADWAY LUTON LTD STATEMENT OF FtNANCIAL ACTIVITIES (tNCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 8,408 8,408 6,979 Charitable activities Charitable Activities 274,419 175,987 450,406 433,244 Other trading activities Investment income 1,380 248 1,380 248 1,243 257 Total 284,455 175,987 460,442 441,723 EXPENDITURE ON Raising funds 563 563 1,857 Charitable activities Charitable Activities 314,808 156,253 471.061 419420 Total 315,371 156,253 471,624 421,277 NET INCOMEI(EXPENDITURE) (30,916) 19,734 {11,182) 20.446 RECONC[LTION OF FUNDS Total funds brought fonvd 539,381 112.129 651,510 631,064 TOTAL FUNDS CARRIED FORWARD 508,465 131,863 640,328 651,510 CONTIIYUING OPERATIONS All income and expendiMre has arisen from continuing activities. The notes fonn part of these financial statements Pagell
HEADWAY LUTON LTD (REGISTERED NUMBER: 03917437) BALANCE SHEET 31 MARCH 2025 2025 2024 Notes FIXED ASSETS Tangible assets io 533.797 516,738 CURRENT ASSETS Debtors Cash at bank and in hand 31,354 92,342 32,279 116,311 123,696 148,590 CREDITORS Amounts falling due within one year 12 (17,165) (13,818) NET CURRENT ASSETS 106,531 134,772 TOTAL ASSETS LESS CURRENT LIABILITIES 640,328 651,510 NET ASSETS 640,328 651,510 FUNDS Unrestricted ndS Resiricted fund5 14 508,465 131,863 539,381 112,129 TOTAL FUNDS 640,328 651,510 These fmancial statem¢nts have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The fmancial statements were approved by the Board of Trnstees and authorised for issue on ... and were signed on its behalf by.. Mr C Harvey- Trustee Mr B H Bateson - Trnstee The notes fonn part of these flllancial statements Page 12
HEADWAY LUTON LTD NOTES TO THE FINANCIAL ST ATEMENTS for the Year Ended 31 MARCH 2025 ACCOUNTtNG POLICIES Basis of preparation The fmancial statement5 have been prepared under the historical cost convention with items recognised at cosi or transaction value unless othenvise stated in the relevant note(s) to these flnancial statements. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statemenl of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (effective l January 2019) and the Companies Act 2006. The charity meets the defltiOn of a public benefit entity under FRS102. The presentation currency of the financial statements is in Pounds Sterling (£), which is the functional CUTrency of the charity. In comrnoD with many other charities of our size and nature we use our auditors to astsist with the preparation of the financial statements, although strict safeguards remain in place for the audit opinion, to remain fully objective. Company status The charity is a company limited by guarantee. The members of the charity are the trustees named on page l. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. Income reeognition Grant income is a¢counled for in the period in which it is receivable. All other income is included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. Gifts in kind donated for distribution are included at valuation and recogllised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included al the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donaled by volunteers. llvestment income is included when receivable. Expenditure recognition All expenditure is accounted for on an accnjals basis and has been classified under headings that aggregate all costs related to the category. Costs of raising funds comprise the Costs associated with attracting voluntary income. mainly in relation to fund raising events. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneflciaries. It includes both costs that can be allocaied directly to such activities and those cosls of an indirect nature necessary to SUPPOrt th¢m. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the chariiy. All costs are allocated between the expendire categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocaied directly, others are apportioned on an appropriate basis e.g. floor areas. per capita or estin]ated usage as set out in Note 5. Tangible fixed assets Tangible fed a55ets are stated ai cost less accumulated depreciation. Depreciation 15 charged on the straight line basis over the expected useful economic lives of the assets at the following annual rates.. Page 13 continued...
HEADWAY LUTON LTD NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2025 ACCOUNTING POLICIES - continued Tangible fixed assets Lift Solar Panels Computers and other office equipmeni Fixtures and fittings over 15 years over 25 years over 3 years over 10 years No depreciation is provided on freehold land. The residual value of the freehold building (excluding the lift upgrade) is deemed to be at leasl equal to the value recorded in the fmancial staternents. As such any depreciation would be negligible and has not been provided for. The carying values of tangible fixed assets are reviewed for impainnent in periods if events or changes in circumstances indicate the carrying value May not be recoverable. Taxation The charity is exempt from corporation lax on its charitable activities. Fund accounting Unrestricted funds are available for use at the discretion of the trustee5 in furtherance of the general objectives of the charity and which have not been designated for other puTp05es. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cosl of raising and administering such funds are charged against the sp¢¢ific fund. This includes grant llds which are given for specific puryioses. Pension costs Payments made directly to individual employee personal pension plans by the charity are Charged to the Statement of Financial Activities when paid. Government grants Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met. usually on submission of a valid claim for payment. DONATIONS AND LEGACIES 2025 2024 Donations 8,408 6,979 OTHER TRADIIYG ACTIVITIES 2025 2024 Fundraising events 1,380 1,243 Page 14 continued...
HEADWAY LUTON L TD NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 MARCH 2025 INVESTMENT INCOME 2025 2024 Interest received 248 257 CHARIT ABLE ACTIVITIES COSTS Costs directly allocated to activities Basis of allocation Raising funds Actual Charitable activities 2025 Total 2024 Total Staff costs Day centre expense% General office costs Computer expenses Travel Training Fund raising costs Volunteer expenses Legal and professional fees Governance costs.. Audit and accountancy Book-keeptng 359,009 6,258 5,349 691 604 690 359,009 6.258 5.349 691 604 690 563 278 1,103 342,827 8,117 6,296 2,307 464 1,265 ,857 383 1,240 563 278 1,103 8.885 4,993 8,885 4,993 8,389 5,520 563 387,860 388,423 378,665 Support costs allocated to activities Premises Communications Depreciation Usage 76,639 1,626 4,936 76,639 1,626 4,936 34,020 4,170 4,422 83,201 83,201 42.612 563 471,061 471,624 421,277 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after charging/(crediling).' 2025 2024 Depreciation - owned assets Audit fees Other accountancy services 6,989 5,310 3.575 4,422 5,060 3,329 Page 15 conlinu¢d...
HEADWAY LUTON LTD NOTES TO THE FINANCIAL STATEMENTS - eontiDued for the Year Ellded 31 MARCH 2025 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees, expenses There were no twstees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS 2025 2024 Wages and salaries Social security costs Other pension costs 322,507 21.237 15.265 310,099 17.756 14,972 359,009 342.827 The averdge monthly number of employees during the year was as follows.. 2025 13 2024 15 Head injury services Management and administration 15 17 No employees received emoluments in excess of £60.000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted nds Restricted fijnds Tolal funds INCOME AND ENDOWMENTS FROM Donations and legacies 6,979 6.979 Charitable activities Charitable Activities 283,278 149,966 433,244 Other trading activities Investment income 1,243 257 1,243 257 Total 291,757 149,966 441,723 EXPENDITURE ON Raising funds 1,857 1,857 Charitable activities Charilable Activities 270,106 149,314 419,420 Total 271963 149,314 421.277 NET INCOME 19,794 652 20,446 Page 16 continued...
HEADWAY LUTON LTD NOTES TO THE FINANCIAL STATEMENTS - Continued for the Year Ended 31 MARCH 2025 COMPARATtVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds nds Total fijnds RECONCILIATIOIN OF FUNDS Total fijnds brought forward 519.587 111,477 631,064 TOTAL FUNDS CARRIED FORWARD 539,381 112.129 651,510 io. TANGIBLE FIXED ASSETS Computer equipment and other equipment Fixtures and fitlings Freehold property Totals COST At l April 2024 Additions 627,741 21,995 11,788 45,544 685,073 21,995 At 31 March 2025 649,736 11.788 45,544 707,068 DEPRECIATION At l April 2024 Charge for year 112.730 4,274 10,455 268 45,150 394 168,335 4,936 At 31 March 2025 117,004 10,723 45,544 173,271 IYET BOOK VALUE At 31 March 2025 532,732 1,065 533,797 At 31 March 2024 515,011 1,333 394 516,738 ii. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Prepayments and accrued income 28,712 2.642 29,474 2.805 31,354 Page 17 conlinued...
HEADWAY LUTOIY LTD NOTES TO THE FILYANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2025 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Accruals and deferred income 17,165 13,818 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025 Total funds 2024 Total funds Unrestricled funds Restricted funds Fixed assets Cuttenl assets Current liabilities 401,934 123,696 17,165) 131,863 533,797 123,696 17,165) 516,738 442,647 307,875) 508,465 131,863 640,328 651510 14. MOVEMENT tN FUNDS Nei movement in funds Transfers between fimds At 31.3.25 At 1.4.24 Unrestricted funds General fund Property Fund - Designaied filnd 131,090 408,291 (30.916} 7,422 7,422) 107,596 400,869 539,381 (30,916) 508,465 Restricted funds Headway House - Capital grant Other capital grant Other capital donations LBC - Heriiage Art Projeci Groundwork UK Energy Fund 34,731 71,989 4,209 1.200 34,731 71,989 3,661 (548) (1,200) 21,482 21.482 112,129 19,734 131,863 TOTAL FUNDS 651,510 11,182) 640,328 Page 18 conlinued...
HEADWAY LUTON LTD NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Euded 31 MARCH 2025 14. MOVEMENT IN FUNDS - continued Net movement in nds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 284,455 {315,371) (30,916) Restricted funds Day centre operational cost Community support service Oth¢r capital donations Sport England Wixamtree Trust LBC - Heritage Art Project Arnold Clarke Groundwork UK Energy Fund 45,688 55,119 (45,688) (55,119) (548) (6,766) (5,000) (1.200) (500) 41,432) (548) 6,766 5,000 (1,200) 500 62,914 21,482 175,987 156,253 19,734 TOTAL FUNDS 460,442 471,624) 11,182) Comparatives for movement in funds Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds Gen¢ral fund Property Fund - Designated fund 519,587 19,794 (408,291) 408.291 131,090 408,291 519,587 19,794 539,381 Restricted funds Headway House - Capital grant Other capital grani Other capital donations LBC - Heritage Art Project 34,731 71,989 4,757 34,731 71,989 4,209 1,200 (548) 1,200 111.477 652 112,129 TOTAL FUNDS 631,064 20,446 651,510 Page 19 continued...
HEADWAY LUTON LTD NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2025 14. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 291,757 (271,963) 19,794 Restricted funds Day centre operational cost Community support service Other capital donations The National Lottery Community Fund - Cost of Living Fund BLCF - Mental health grant LBC - retention and recruitment grant Wixamtree Trnsl The National Lottery Community Fund - Coronation Party LBC - Heritage Art Project 44,488 54,790 (44,488) (54,790) (548) (548) 17,432 5,266 20.000 2,890 (17,432) (5,266) (20,000) (2,890) 3,900 1.200 (3,900) 1,200 149,966 149,314) 652 TOTAL FUNDS 441,723 421,277) 20,446 Purposes of restricted funds The fijnds for the Community Support service and Day Centre represent grants received for the charity to undertake these specific tservices. The Headway House and other capital grants funds represenl grants. originally received in the years ended 31 st March 2000 to 31 sl Mar¢h 2002 for the charity to purchase the freehold premises from which to operate services. The other capithl donations represent monies received to fund the upgrade of the new lift within the charity'5 freehold premises. Th¢ funds from Sport England were to fiu]d physical activity including darts. yoga and exercise. The funds from The National Lottery Comrnunity Fund (Cost of Living Fund) were lo fund an additional community support worker post. The funds from The Community Recovery Fund via Bedfordshire and Luton Community Fund (BLCF) were to improve the mental health of adults with an acquired brain injury. The funds from Luton Borough Council (LBC) were to assist with the reiention and recruitment of staff following the Covid-19 pandemic. The funds from the Wixamtree Trust were to fund new client placements. The funds from The National Lottery Community Fund were lo fund celebrations for the King's Coronation. The funds from Luton Borough Council were to fvnd a Heritage Art Project. The fidS from Arnold Clarke were to fund cltent transport and trips. Page 20 continued.-.
HEADWAY LUTON LTD NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2025 14. MOVEMENT tN FUNDS - eontinued The fimds from Groundwork UK Energy Fund were to nd improvements to the freehold property in lighting, insulation and solar panels. Transfers between funds Funds have been designated by the trustees to cover the cost of the charity'5 freehold premises. 15. RELATED PARTY TRANSACTIOIYS There were no related party transacttons during the year (2024 - none). Page 21