Company Reglstration Number 04121656 (England and Wales) Challty Registralion Number 1086035 HEADWAY MILTON KEYNES LIMITED (A Company Limited by Guarantee) TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
HEADWAY MILTON KEYNES LIMITED COMPANY INFORMATION Trust88s Ms C Johnson (Chair) Ms L C Bennell Ms P Grout Ms N J Heales Ms T O Oshikoy8 Mr N M Long {Cllr) Mr D Mehta Mr M Calèy Resigned 12110122 Resigned 16105123 AppJinte& 18109123 Company number 04121656 Reglstér6d offl¢a Unil 1 G. 518 Sifbury Boulevard Centre'.MK Milton Keynes Buckinghamshlre MK9 2AD Accountants Webb Accountancy Semces Limited 19 Diamond Court Opal Diive Fox Milne Milton Keynes MK15 ODU 8u81ness address Unit 1G. 518 Silbury Bl0vard Centre:MK Milton Keynes Buckinghamshire MK9 2AD
HEADWAY MILTON KEYNES LIMITED CONTENTS Pag¢ TN8lees and directors, r8porl Independent exarnlnerfs rer Statement of financial activili8S Balance sheet Notes to Ihe finanaal statements 7-12
HEADWAY MILTON KEYNES LIMITED TRUSTEES AND DIRECTORS, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees and directors present Ihelr annual report and accoun15 of Ihe charity for the year ended 31 Decemlxr 2023. Objéctives and Actlvltles of Ihe Charity The tharity is govemed by ils Memorandum and Artides of A$so¢iation. The powers of the Charity in the Artldes are slated as belng anylhlng which is Calculat lo further ils Objectls) or is conducive or incidenlal to doing so. In particular, th6 charity has power.. 11) To promole understanding of all 8specis of brain lryury {21 To provide infofmalion, support, and services lo pe8 with braln Injury. their f8milles and Care and relevanl professlonals (31 To promote a co-ordlnated, mullidrsciplinary approach lo brain injury screenlng. acule Care, 88sessments, rehabllllalion and return lo Ihe community 141 To InGrease puk1¢ awareness and understanding of brain injury (51 To participale in acliwties, which will reduce the incidence of brdin injury 16) To ralse funds. In doing so, tha charity must not undertake any substantial permanenl trading aclNlly and musl comply wth any rel8vanl statutory regulations 17) To buy, lake on, le8se or in exchange, hire or otheTh¥ise acquir8 any propety and lo mainlaln arKI equip il for use {8) To sell. lease or otheThwse dispose of all or any part of the propety bekjnging lo the charily. In exercising Ihls power. the charity musl comply as appropriale wlh lh8 relevait sections of the Charities Act 2011 (91 To borrow Money and lo charge the whole or any part of the propety belongirvJ lo the charity as securlty for repayment oflhe money borrowed or as security for a granl or the discharg8 of an obligation. The ¢harily musl comply as approprlale with Ihe relevant sections of the Charilies Act 2011. if il wshes lo rnortgage land (101 To cOPrate wth oiher charii*es, vcduntary bodies. and slatutory authorilles and lo exchange infomialion and advice with them {11) To eslabllsh or support any charilabl8 trusts, associations or instilulions fomied for anyofthe charitable purposes InClfed in Ihe Objects In plannlng our activities for the year. we kept in mlnd the Chadty CommiSonS gUIdae on publlc benefll. The focus of our aclivilies remaSns the prowsion of professional care, support. advice, and infomiation lo the users of or seryices. Our aim is lo promote our charity so Ihal we can be of assislance lo persons who have an acquired brain injury and thelr famrlies. How our Actlvltles Dellvèr Publlc Benefit Our ¥nain aclivities and who we try to help have been oullined al>)ve. All our d)arilable acllvtttes are undertaken to furlher our ¢harllable purposes for the public benefit. Achlevements and Performance Headway Milton Keynes promdes hlgh-quallty support and Tehabilitation for I1 people lIng vAth the long-term effects of brain Injury. the effect5 01 which can impact every area of day-l(aY liwng. The aim of the charity 15 10 Increase the wellbeing and Independence of brain Injury sumvors while provhling support and r6splle to their families and carers, thus relieving pressura on health and adult soual care services. Thè charilrfs re-ablemenl programme Is contsThJing lo make real and demonstrable improvements in the Ilves or s8rvice us&rs. We provkle a holistic. clienl4enlred approach lo braln injury survfvots through cognilive, physlcal, and emotional r8-learning and reh8bilitslion seThices. The sessional support programmes offered include: Development of cognitive and communication skills Developlng skllls for dally livtng such as budgeting and nutrition Preparation for returning '40 workleducallon Practical and goclal sessions such as exercise. art, arKI music Clinical Iherapies Support with emotional well-being More and more cllents are meeling Ihelr personal goals, leading lo increased confidence lo play an active role in Ihe lo¢al Gommunlly and loss reliance on olher forms of more coslly stale support an(5 prevenls Is(Aatlon. We had a number of notable ch8Figes lo our personnel during Ihe year. Firslly, our Chair of Trustees Signed in March for personal reasons and a further TrJstee left shortly after. One of the olh&r Trustees inlllalty became acting ChaSr and then later in the year was confimed as pemianenl Chair and a further replacement Trustee was reixui18d
HEADWAY MILTON KEYNES LIMITED TRUSTEES AND DIRECTORS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Achlevemants and Performance (contlnued) Secondly, the full limè serv Manager went matemity leav8 from June. Her role was covered by pari-lime employaes. Thir(ily. one of the three part-time fron14ine staff left in April and was not r8F4aced untll much later In the year. All of thes8 changes created challenges for Ihe smooth runnin9 of the service. h¢)weve( It Is leslamenl lo Ihe dedicalion and delemiinalion of Headway Milton Keynes. volunteeT5 and staff that Ihe charily continued lo wovide high-quality servlces Ihroughoul the year. The majority of seNices were provided in our Cenlral Milton Keynes premises vitlh excepllons: A 12 week exercis& progrdmme supported by a Leaplsport England grant which ran during the Summer A Cognitive Educ81ion Lifeslfv Prcoramm8 which MmeDId In September, supwrted by 8 grant from the NalSonal Lottery. Alternative venue costs at C4)mmunity premises for t)th were induded In th8 respectlV8 grants as neith8r would olherwse have been possible due lo our limited space. Three grants were provided during 2023 of leh Iwo wefe specifically for Clienl prcgrarnmes as follows.. £2,140 from Leaplsport England for the aforementioned 12 week exercise programme £9,620 Lottery grani for the Cognillve Education Uf8styb8 Programme. whtth commenced during tho year bul continued Into 2024. One nOn-$paflC £500 provislon from U7e Hadley Foundation In November for miscellaneous refreshments, resources and social sesslons and outlngs over the rAyJrse of Ihe year. Flnanclal RevSew The majority of our serv$ were primarily suppted through attendance fees and donalions. In Mmon with other locd charities, access to fundlng has continued to be an issue during the challenging economi¢ condillons, suth Ihal al the start of 2023 there was a real possibility that the service Wld not be able lo continue due lo declinlng revenues arKI IGased costs. Therelore. the achievement ol Headway Milton Keynes In mainlainlng the servic8 Ihroughoul the year is signiflcant. The ¢harilrfs Income from all sources amounled to £108,816 {2022 £73.3751 The trustees would Ilke lo lake thls opportunily to thank all funders and supporters for iheir lard vmrk and generosty- Details of grants and donations aTe set out on pag8 10. Total exp8nditure amounled lo £91,390 {2022 £89.751). The suwus for th8 year Amounted to £17.426 (2022 deflcil £16.376), this has resulted in an increase in nel funds available lo £45.620 (2022 £28.1941. The charity recognlses the need lo diversify ils InMe streams, to Increase Ihe proportion of Income from siyjrces other than th6 local coun1 by contlnuing lo actively seek allernalive funding streams. In additlon. il is seeking lo reduce expendilure withcwi ¢ompromlsing the quality of the semce. Golng Concem and Reserrfes The long-lerm ch811eng&s faung the charity are significant and difficull decisions may have lo be taken In the future If efforts to slabilise the flnancial health of the charily are not successful. W8 aim lo ensure we have onough c8sh flow lo be able lo cover 811 expenses should we have lo cease trading. In the short-lemi, however, Headway Millon Keyn88 conlinu8s lo provide a vilal seNice lo indidual$ and families trying lo adapt lo life after braln inlury. Without this support, the majority of these people Vuld be left to rpe in isolatlon, leading lo Increas8d pressures on other slalutory services.
HEADWAY MILTON KEYNES LIMITED TRUSTEES AND DIRECTORS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 structure Governancè and Management The rharily is a charitable cc¥npany limited by guaran188, incorporated on 5 December 2000. On 1 January 2002 il assumed Ihe assels and li2bililies of Headway Milton Keynes. the unincorporaled Milton Keynes branch ol Headway the brain injuries association. The charity'5 founding documents lake Ihe fom of Memorandum and ArtiGles of Association. by which il is govemed. The directors of the company are also Trustees for the purposes ofcharily law and under th6 company's ArteS are known as The Board. The Twslees are appointed by the members. I members of the 8oard glve thr Ilme voluniarily ano received no benefits from the chadly. Any expenses reclaimed from the charlly are $81 out in note 4 to the 8C¢>)unls. Dlrectors and Trustees Responslbllltles The Directors, who Ere referred lo as Trustees, are responsibie for preparing linand81 statements In accordan¢e wllh applicable law and regulations. Company law requires the Trustees to prepare financial slalements for each financial year. Under that law the dlreclors have ele¢ted lo prepare the fin2ndal slalemenls in accordenee with United Kingdom Gener811y Aecepled Accounting Practice (United Kingdom Accounling Standards and appl,,cable law). The financial slalemenls are required by law to give a tru8 and f8ir wew of the slate of affalrs of the ccKnpany and of Ihe profil and loss of the company for that period. In preparing those financlal slalemonls, the Trustees are required to: select suitable accounting policies and then apply them consistentty.. makg judgments and estimates that are reasonable and prudenl.. prepare the financial slalemenls on the going concem basis unless il is inapproprlale lo presume Ihat the company wlll conllnue in business. The Trustees are responslble for keeping proper accounting ¥Ècords that disclose with reasonable accuracy al any lime the financl21 position of the company and lo enable them lo ensure that the financial slalemenls comply with the Companles Act 2006 and with the FRS102 Slatemenl of Recommended Praclke. They are also responsible for safeguar the 8sse15 of Ihe company and hence lor t8klng reasonable steps for the preventi and detection of Iraud rregularilies. On MSC Dlrector Dale.. on
HEADWAY MILTON KEYNES LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HEADWAY MILTON KEYNES LIMITED I report on tho accounts ol th6 company for the year ended 31 Dacernb8r 2023, which are sel out on pages 5 10 12, Re8Pe¢tlve Re9pon$lbllltles of Trusl•ès and Examln8r The Iruslees (who are Slso the direclors ol lh8 cimnpany for ihe purposes of company law) are responslble for the preparallon of the accounts. rh6 charfty's trusleas CL)nslder that an audll Is nol requlred for this year under secbon 144 01 the Charitles Act 2011 (the Ch8rfUes Act) and Ihal an independent examinallon Is needed. havlng satistled myself that ihe charily18 Th)1 subject io audll under company law and 18 ellgible for Indapendenl examinallon, It is my responslbility lo.. examin6 the accounts under secikn 145 of thé Charities Act., lo follow the procedures lald down In the general Directlons glven by the Charfty Commi38lon under $8Ctlon 145{5){bl of the Charill03 Acl., and lo state ¥thelhor particular matters have cL)mo to my attentk>n, Basls of Independent Examlnefs Report My examlnalion was caffied out In accordance vAih Iho general Dlre¢tion3 given by the Charity CommIssl. An examination Indudes a review of ihe acc4wnllng records k8pI by the charity army a rx)mparlson of the accounts presented with those records.11 also indudes conslderalion of any unusual items or disclosures In the ac<>)unls. and seeking explanallons from you as Iru8t88s concerning any suth matters. The procedures undertaken do nol provld8 all Ihg evldence Ihal Vuld be requlred In an audit and consequently no oplnkjn Is glven as lo wheLher Ihe accounts present a 'lrue and lair v6ew' and the report Is limited lo Ihose matters sel oul in the statement bebw. Independent Examlnerfs Statement In ¢(neCtIOn I1h my examination, no maller h8s come lo my aitenllon to indlc8te that: accounllng records have not been kepl In accordance wth seclion 386 of the Comp8nl88 Acl 2006., Ihe accounts do not accord wlh such rectyds.. where accounls 8re prepared on an accruals ba818, vthelher they fall lo cLJmply wlth relevant aceounllng requlrernenls under section 396 of the Companles Acl 2006. or are nol conslslenl wllh Ihe Chadlles SORP {FRS102) any mallar whlch I bolieva should bo drawn lo the attenllon of the reader lo gain a woper underslandlng ol lh8 accounls. Wobb Accountancy serv19 Umlttsd Charter•d Accountanls 19 Dlamond Court Opal Drive Fox Milne Millon Keynes MK15 ODU
HEADWAY MILTON KEYNES LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlcted Restrlcted Totsl funds funds 2023 income funds 2023 2023 Prior year fund8 2022 Note5 Income Incorne and endowmenis from: Grants. local authority conlracls, donations for advice. information and traininq Total Income 96,556 108816 96.556 12.260 108,816 73,375 Expendlture ExperNJilure on charitable actlvllles Fundraising costs Govemance and support ¢osis 83,508 6,098 89,606 88,203 1,548 Total Expendlture 85,292 6.098 91.3 89,751 Net Income l (Expendlturè) before tax 11.264 6,162 17.426 {16.3761 Tax payable Nèt Income I (Expèndhura) Loan lIe off Transfer een funds 11.264 6,162 17.426 {16.3761 39,757 Net movement In fund$ 11,264 6.162 17,426 23,381 Reconclllatlon of funds Total funds broughl fOard 28,194 28,194 4,813 Total funds carrled forward 12 39,458 6,162 45,620 28,194
HEADWAY MILTON KEYNES LIMITED BALANCE SHEET AS A T31 DECEMBER 2023 Unrestrl¢tod Restrlcted funds 2023 Income funds 2023 Total funds 2023 Prlor yèar funds 2022 Notes Flxed assot$ Tangible assets 2,587 2,587 3.782 Current assets Oebtixs Cash al bank and in hand 8,032 33,615 8.032 39.777 10,447 15,898 Total current assets 41.647 6.162 Cradltors: amounts falllng due wlthln one year 14.7761 (1.933) 10 (4.776) Net Gurrènt asset5 1 Olabllitie5) 39.458 6,162 45.620 28.194 Credltors: amounts falllng due afteT more than one vear Provislons for Ilabllltles Total ass•ts less currant 1lablll1S 39,458 6.162 45,620 28,194 Funds of the Charlty Restricted funds Unrestried funds 11 6,162 6.162 39,458 39,458 28.194 Total funds 39,458 6,162 For the financial year 6nded 31 December 2023 the company VRS entided lo exemptK)n from audll under secllon 477 of the Companies Act 2sJ)8. The dlreclors acknowledge their raswnsiblllttes for complylng with th8 requirernenls of the Act th resp8Ct to acciyjnllng records 8nd the pr6paratlon of finandal slalem&nts. The members have nol required the company lo obl8in an audit of its financial statements for the year in question In accordance wllh section 476. These finand81 stataments h8ve been prepared in accordanc8 the Fyowslons applicable lo ¢))mpanles subject lo Ihe small companies, regime and in accordance ¥Mth FRS102 SORP. Th8 financial slalemenls were approved by Ihe trustees and auth(¥ised for Issue on slgned on Sf by: nd are Trusteè l Director Company Roglstrallon No. 04121656
HEADWAY MILTON KEYNES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollclès Company Informatlon Headway Mllton Keynes Llmlled is a privaio company limiled by guarantee InCorated In England and WAlas. The registered oifice Is Unil 1G, 518 Silbury Boulevard. Cenlre'.MK. Milton Koynes. Buckinghamshir8. MK9 2AD. The chailly conslilules 8 public benefit enilty as defined by FRSI02. 1.1 8a818 of accountlng These fin8nclal slalemenls have been prepared In accordance with the Slalemenl ol Recommend8d Practice: Accounllng and Reporting by Charilies preparlng their accounts in accordance wlh ihe F5nancial Reportlng Sl8ndard apICable In th6 UK and Republlc of Irèland (SORP FRS 1021 issued on 16 July 2014, with th& Flnanclal Reporting Slandard appllcable in the Uni18d Kingdom and R8public of Iréland (FRS 102), and wllh the requlremenls of Ihe Compani8s Act 2006 and tho Charities Act 2011. The linanGlal slalements 8fe prepared in sterling. whlch is the functlonal rrencY of the company. Mon8lary amounts In these financlal s181emenls are rounded lo Ihe nearest £. The Itn8n¢lal slalemenls have been prepared under th8 hislorlcal cost ConvenUc. modified lo Indud8 the revaluation of freehold propertles and lo Indude inveslmenl properties and certain financial Instrumenls al falr value. The prlnclpal accounllno policies adopl&d are sel out below. 1.2 Golng Concem Al Ihe Ilme ol approvlng the finand81 slal8menls. the dlreclors have a r8asonabla exp8ctalion th81 th8 company has adequate resourcas lo continue In opeialional exis1en for the foreseeable fulure.Thus, the directors continue lo adopt the golng concem basls of attountlng In preparing tha financial slalernonts. 1.3 Turnovar All Incomlng resources are Induded in the Stsiement of Flnanual Aclivllles (SOFA) when: the ch8rity b8comes enlilled lo the incom6', the monetary value Can be m88sure(I with 8ufficlenl reliablllty., and 11 Is more likely than nol Ihal the INsl8es will racèive the r8sourc•8. Giants and donations 8r8 only included In thé SOFA whan the gener81 In¢ome recognllion cril8ri8 are mel. Legacies and other foms of voluntary Income are only Induded in the SOFA %M)en receipt Is Pfobably, Ihal 18, when there has b88n granl of probate. the ex8culoTS h8ve eslabllshed Ihal there are sufficlenl assets In the eslale and any condlttons allached lo Ihe legacy are either wlhln the control of the charity or have been m81. Conlraclual Income and perfomance related grants are only induded In Ihe SOFA once the charily h88 provided the related servlces or m&1 the perfonnance r8laled condlllons. The value of any voluntsry help recelved Is noi included In the accounts bul Is desulbed In the truslees, annual report. Glfl Ald receiv8ble Is indud8d in income when there18 a valid decl8r8llon from the donor. Any Glft Ald amount recovered on a donallon Is considered lo be part of Ihal girl and Is trealed as an addllk)n lo the same lund as the Inlllal donallon unless the donor or the tem of the appeal have 8peclfied othetvlso. 1.4 Expendltur• Llabi1115es ore recognlsed where It 1$ rn8 lik&ly Ihan not that there Is a legal or Lx)nslructlve otrAlgation commllling the charity lo pay out r&8ources and Ihe amount ol the obligation Can be measured wllh r6ason8ble certalnty. Ail revenue expendilure is daall with through tho SOFA on an accruals basls and L8 allocated lo their approprf818 funCtn81 headlngs.
HEADWAY MILTON KEYNES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 1.5 Govemance and support ¢ost$ Support costs have been allocaled behveen g)vemance costs and otheT SUPF#Xt. Governance costs comprise all costs involving public accountability of the charity and its compllance with regulalion and gc4)d practKe. Support costs include c8nlral funclKsns and have been allted lo actrvtiy cost calegorl8S Dn a basis consistent wilh Ihe use of resources, eg allocating property costs by flIN)r ar8as. or par Gaplta. staff costs by the time Spent and olher costs by Ihelr usage 1.6 Tanglblo flxed assets Tangible fixed assets are inlllalty measured al cost and subsequently measur&J al cost or valuatlon, net of deprecl81ion and any Impaim)enl losses. D6preciati¢)n is recc4nised so as to vnfile off the cost or valuation of assets less their r8sldual valu8s ovar their useful lives on the follng bases= Fixtures, fittings & equipment Computer equipment 25% Slraighl lin8 25% Stralghl line The gain or Ioss 8rislng on the dlsF4)sal of an asset Is delamiined as the dlffer8nce b8tween the sale proceeds and the carrylng value of the asset and is credited or charged to profil or loss. 1.7 Impalm)ant of flx¢d assets Al each reportlng perlod end date, the company reviews the carrying amounts oflts tangible a$seis lo delemlna whether Ihere is any indication that those assets have suffered an impairment loss. If any such indication exists. the recoverab16 amount of the ass81 is eslimated in ord6r to delernine the exlenl of the impairm&nl loss (if any). Where il is not posslble to esiimale the recoverable amounl of an Individual assel. the company esllmales the recoverable amount of the CaSheneratIng unit lo whl¢h the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the eslimaled future cash Ilows are dlscounled lo their present value uslng a pre-tax dlscounl rat8 that reflects ¢urrenl market assessments of the time value of money and the rlsks spedflc lo the asset lor whlch the esllmates of futurg cash flows have not been adlusled. If the recoverable amount of an assel {or cash-generaling unit) is esllmated to be less than its carying amount, lh8 carrying amount of the asset lor cash-generating unil) is reduced lo its recoverable amount. An impairment loss Is recognised immediately in profit or loss, unless the levant asset is carried al a revalued amount, in whlch case the Impalmient loss Is treated as a revaluation decrease. Recognised impainnent losses are reversed if. and only If, the reasons for the impairment loss have ce8sed to apply. Where an impairnent loss subsequenuy reverses, the ¢arryino amount of the asset (or cash-generating unlt) is increased lo the revised estimate of ils recoverable amount, but so thal the incraased carrying amounl does not ex¢8ed the caryirrfJ amount that would have been d8l8nnined had no impairm8nt loss been reeA)gnls8d for the assel (or cash-generating unlt) In prior y8aTS. A reversal ol an Impalmienl loss is recognlsed immediately in profit or Is, unless ihe revant asselis carrled al a revalued amount. In whlch c8SÈ the reversal of tha Imp8lmieni loss is Irealed as a rev81uatlon irKxease. 1.8 Cash at bank and Sn hand Cash al bank and In hand are baslc finanaal assets and indude cash in hand, deposits held at call th banks, other short-temi liquid Investments wlh orlginal maturflles of three monlhs (K less, and bank overdiafts. Bank overdrafts are shown within borrowings in curr&nl liabilities.
HEADWAY MILTON KEYNES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 1.9 Flnanclal Instruments The company only has flnandal as881s and financial liabllltles of 8 klnd Ihal qu811fy as 8aslc Financial Inslrumenls. FlnanGlal inslrumenls are recognised in the company's balance sh861 wh8n Ihe oJnpany becomes party lo Ihe conlraclual provislons of the instrument. FlnancSal assets and liabilities 8re offset, with lh8 nel amounts presented in Ihe finan¢iAI slalemen18, when there Is a legally enforceable right lo sel off Ihe recognlsed amounts and there is an inlenllon lo sellle on 8 nel basls or lo re8lls8 the as8el and settle the lialIty simultaneously. Baslc flnanclal assets Basic financial assets. which Include debth and cash and bank balances, are inllially measured al Irang8¢llon prlce Including transaction costs and aTe subsequenlty Caled al settlement value unless the arr8ngem8nl conslllule8 a financing Iransaclion. Ithere the tranSli0n is measured al Ihe presenl value ol Ihe future receipts dlscounled at a market rale of Interest. Fln8nd81 assets d85s111ed as recetvable wllhln one year are r1 amortlsed. Classlflc•tlon of iinan¢lal IlJbllltles Flnancial Ilabllllle8 8nd equity instruments are dassified accordlng lo the subsiance of the conlraclual arrangem&nts entered Into. An equ',ly inslrum8nl is any c£>nlr8cI th81 evid8nces a re8ldual Inler881 In lh8 assets of th8 company after d8duclSng all of Ils Ilabilili8s. Bas1¢ flnanclal Ilabllltles Baslc financlal Ilabililies. including Creditors and108ns are Inlllally r8nIg8d al Iransactlon price unless th8 8rr8ngement conslllutes a flnanclng Iransaclion. ere Ihe debl Inslnjmenl Is measured al Ihe presenl valu6 of the future payments dlsc(yJnled al a mathel rale of inlere$L Flnanclal Ilabllllles classlfifjd a8 payable wllhln one year are not #morllsed. Debt instruments are subsequently carrled 81 amortised c081. uslng Ihe effecllve Inleresl rale method. Trade credllois are obligallons lo pay for goods or seNlc*s th81 have been a(y4uired In Ihe ordlnary course of busines8 from suppliers. Amounts payable 8re cl8sslfled as currenl liabilities if payment Is due wllhln one year or less. If nol, they are presented as non-currenl liabilliles. Trade credilors are recognised inillaSly al trans8clion prke and subsequently measured al amorlised ¢o$l Un9 Ihe effecllve Inleresl meihod. 1.10 Employoe beneflt8 The costs of short-lerm employee benefits are recognlsed as 8 liabillly and an expense unless Ih08e cost8 are requlred lo be re¢ognised as part of the cost of sl¢xk or fixed assels. Th8 cosl of any unused holklhy enlltlemenl is recogn188d In the pericmy in whSch the employee's s8ceS are received. Terminallon beneflls a recognlsed Immedl8lety as an expense when the company Is demonstrably eA)mmi118d lo lermlnal8 the employmenl of an employee or lo promde 18rminalion benefits. 1.11 Reslrlcted funds RostrTc18d funds are suble¢l lo specffic condilTrons by dor as to how they may be used. The purp0888 and uses of the reslricled funds are sol oui Sn Ihe notes lo th8 accounts. Dislrfbullons from reslrlcted resources rnusl be used for purposes SIstenI wlih donor InlBnb'on and should be the first sourca of fundlng to support programmes and activities meeting the restriction. 1.12 Unreslrlctèd funds Unresldcled funds are lurKls whlch are avallabla for use al the discretion of the INst88s In frJrtheranc8 of the general objecllves of the tharfty and whlch have not bew) d8slgnated for other purwsas.
HEADWAY MILTON KEYNES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Judgements and key sources of ostlmatlon uncertalnty In Ihe applScallon of th8 cL¥npanys accounliThJ policies. the directors are requlred lo make judgements, estlmates and assumptions about the carrying amount ol asseis and liabilities that are not readily apparent from other sources. The eslimales and assrtialed assumptions are based on hislorical experieTr and other factors that are consld8red lo be relevant. Actual regults may differ fr(xn these estimates. The esllmates and underlying assumptions are reVie*d on an ongoing basis. Revlslons 10 8CCnI1ng esiimates 8r6 rec(wJnlsed in the p8ri(Kl in wh.ich Ihe eslinale is revlsed where the revislon affects only Ihal perlod. or In the period of the revision and future periods ere the r8vislon affects both current and future periods. Incoming rasourcas Unrestrlctgd Restrlcted Total funds funds 2023 Income funds 2023 2023 Prlor year funds 2022 t)onations and gift aid Carers grants Other grants Governmenl grants Centre alleThJance fees Other inGome 15,186 SJ,259 15,186 50,259 12.260 11,992 39,464 500 1,000 18,771 1,648 73,375 12.260 30,624 487 30,624 487 Total Income 9e,556 12,2eO 108.816 Expendlture Wages and saEaries Therapy and other cosls Premlses cc1$ Travelllng expenses Tralnlng Depreciation Olher admin expenses Expendlture on charltable a¢tlvltles 58,484 5,692 10,259 21 275 1,195 7.582 83.508 1.548 2,503 1.620 60,032 8,195 11,879 21 275 1.195 8,009 89,606 64,592 7,176 10,069 10 427 5,360 88,203 6,098 Independent examlners fees other accountancy fees Expendlture on govtmanca and sUPPOrt 660 6CKI 1.124 10
HEADWAY MILTON KEYNES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Employ6es The 8verage monthly number of pernS (exdudiro Injstees) employed by Ihe company during the year was.. 2023 2022 Chadlable activiues Thelr aggregate remuneration comwised: 2023 2022 Wages and salaries Employer penslon costs Social security costs 58.984 1,250 -202 63,296 1,003 293 No Trustees or members of the management committee received any remuneralion for work undartaken in the management of (he charfly durlftg the currenl or prewous year. Taxatlon The charlty Is exampt from cwration tsx on ils tharitae aclivili8s. On U)e basis ol these fin8ncl81 stalemenls the compony has no corporation lax liability. Tanglble flxed assets Flxtures, Computer filtings & equlpment equlpment Total Cost Al l January 2023 Additions in the year Al 31 December 2023 10,411 11.514 21,925 Depreclailon and Impalm)ent Al 1 January 2023 Depreclatlon charged In Ihe year Al 31 Decemb8r 2023 6,629 11,514 18,143 19,338 Carrylng amount Al 31 December 2023 Al 31 December 2022 3.782 11
HEADWAY MILTON KEYNES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Flnancial Instruments 2023 2022 Canylng amount ofllnanclal assats Measured at selllÈmenl value 47,809 26.345 Carrylng amount of flnanclal Ilabllhles Measur8d al amortisod c4)st 4,776 1,933 Debtors 2023 2022 Amounts falllng due wlthln on¢ year: Trnde debtors Other debior8 1,166 4,202 8,032 10,447 10 Credltors: amounts falllng due hthIn one year 2023 2022 Trade ctsediiors Other taxation and social se(xJrtty Accruals and deferred ino)me 1,758 1,569 1.449 315 784 834 4,776 1,933 11 Purpose of restrlcted funds During the year the (x)mpany operated one reslricted fund as follows.. Therapy, Counselling. IT These 8re grants r1Ved lo enable the charity to cany out Is alms and equipment, exercise wogram. objeciNes to provide rehabilitslion and supFkn services for dients atlendlng oulin9s, staff wages the cenlre. 12