**REGISTERED COMPANY NUMBER: 04001321 (England and Wales) REGISTERED CHARITY NUMBER: 1089171**
Report of the Trustees and
Financial Statements for the Year Ended 31 March 2024
for
Headway Black Country (A Company Limited by Guarantee)
Lewis Smith & Co. Chartered Certified Accountants The Old Doctor's House 74 Grange Road Dudley West Midlands DY1 2AW
Headway Black Country
Contents of the Financial Statements for the Year Ended 31 March 2024
|||Page||
|---|---|---|---|
|Reference and Administrative Details||1||
|Report of the Trustees|2|to|7|
|Independent Examiner's Report||8||
|Statement of Financial Activities||9||
|Balance Sheet|10|to|11|
|Cash Flow Statement||12||
|Notes to the Cash Flow Statement||13||
|Notes to the Financial Statements|14|to|23|
|Detailed Statement of Financial Activities|24|to|25|
Headway Black Country
Reference and Administrative Details for the Year Ended 31 March 2024
**TRUSTEES** Ms Claire Victoria Burnell Ms Susan Mary Hatton Ms Deborah Ann Pejica Ms Alison Jane Ratcliffe Ms Jane Camellia Sarker (resigned 15.1.24) Ms Kavita Nagra Mr James Robert Brent (appointed 15.7.24) Mr Stephen Paul Austin (appointed 28.10.24) **REGISTERED OFFICE** Headway Black Country Martin Hill Street Dudley West Midlands DY2 8RT **REGISTERED COMPANY** 04001321 (England and Wales) **NUMBER REGISTERED CHARITY** 1089171 **NUMBER INDEPENDENT EXAMINER** Lewis Smith & Co. Chartered Certified Accountants The Old Doctor's House 74 Grange Road Dudley West Midlands DY1 2AW
Page 1
Headway Black Country
Report of the Trustees for the Year Ended 31 March 2024
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 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Page 2
Headway Black Country
for the Year Ended 31 March 2024
## Report of the Trustees
## **OBJECTIVES AND ACTIVITIES Structure, Governance and Management**
Headway Black Country was started as branch of Headway UK in 1997.
It was incorporated as a company limited by guarantee on 24th May 2000. On 1st November 2001 the company was entered on to the Central Register of Charities, number: 1089171. The company was established under a Memorandum of Association, which established the objects and powers of the company and is governed under its Articles of Association.
The company is limited by guarantee. Each member undertakes to contribute to the company as may be required, but not exceeding £5, in the event that the company is wound up.
As such, Headway Black Country has been an independent charity and company limited by guarantee since these dates, affiliated to Headway UK.
Our main address is:
Headway Black Country, Martin Hill Street, Dudley, West Midlands, DY2 8RT
Our Bank is:
Unity Trust Bank, Four Brindleyplace, Birmingham B1 2JB
Accountant and Independent Examiner are:
Lewis Smith & Co. The Old Doctors House, 74 Grange Road, Dudley DY1 2AW
The Board of Trustees meets quarterly to manage the strategic direction and overall performance of the organisation. Minutes are taken at each meeting. At least three Trustees must attend in order for action or a decision to be approved.
The Chair and the Treasurer are appointed annually and one third of all remaining Trustees retire by rotation each year. A retiring Trustee is eligible for re-election. A Secretary may be appointed by The Board for such term as it shall think fit.
Trustees are recruited from all sections of the local community often through contact with support groups, professionals and sometimes advertisements. All Trustees receive an induction.
Trustees in office during 2023/24 were: Ms Debbie Pejica (Chair) Ms Claire Burnell Ms Sue Hatton (Ambassador) Ms Alison Ratcliffe Ms Kavita Nagra
The following trustee resigned during the year: Ms Jane Sarker
The following trustees were appointed after the year end: Mr James Brent Mr Stephen Austin
The Chief Officer is responsible for the day-to-day running of the charity and reports to the Trustees on a regular basis. The Chief Officer, Operations Manager, Finance and Admin Manager, Referral and Outreach Manager and Life Skills Co-ordinator form the Management Team.
Frontline delivery is carried out by our staff team and our volunteers. At the end of March 2024, we employed 23 staff (2 full time, 21 part time), 2 sessional Counsellors and 2 Bank Support Workers. During the financial year 2023/24 we were supported by 10 volunteers in total.
Page 3
Headway Black Country
## Report of the Trustees
## for the Year Ended 31 March 2024
All volunteers undergo relevant training and are vital to the services we provide. We are very grateful for their contribution to our work.
## **Objectives**
Headway Black Country is a local charity set up to provide support and information for adults who have survived a brain injury and to their family and carers. We cover The Black Country areas of Dudley, Sandwell, Walsall and Wolverhampton.
Our mission is: To promote the understanding of all aspects of brain injury and provide information, support and services for people with a brain injury, their families and carers.
Our vision is that: Any person with an acquired brain injury and their family, living in the Black Country, will have access to all the resources and support they need to enable them to live an active and fulfilled life within their family and communities.
The Strategic Objectives of the Charity are to:
- Increase awareness and understanding of acquired brain injury and its consequences.
- Provide relevant and timely support services for people with acquired brain injury, their relatives and carers.
- Promote improved, co-ordinated and multi-disciplinary approaches to brain injury screening, acute care, assessment,
- rehabilitation and community re-integration.
- Assist people with acquired brain injury return to independent living, including access to productive activities, social
- outlets and appropriate accommodation.
- Participate in promotions aimed at reducing the incidence of acquired brain injury.
## **Guiding principles underpinning the delivery of our services**
Headway Black Country:
- Values the individual and believes in the equal right of all to realise their potential.
- Believes in countering the disadvantage and social exclusion experienced by people with acquired brain injury and their carers.
- Values and respects diversity of ability and disability, race, culture, gender, religion and sexual orientation.
- Believes that people with acquired brain injury, their relatives, carers and relevant professional people should work
- together in pursuit of shared goals.
Page 4
Headway Black Country
Report of the Trustees for the Year Ended 31 March 2024
## **OBJECTIVES AND ACTIVITIES Activities for Public Benefit**
Acquired Brain Injury refers to any form of brain injury that has occurred since birth. It includes Traumatic Brain Injury (from a severe blow or jolt to the head), Strokes (including haemorrhages caused by ruptured aneurysms), viral infections (e.g. encephalitis, meningitis), brain tumours, hypoxic/anoxic injuries, amongst other causes.
Our brain is a complex organ controlling our body and all the elements of who we are, from our thoughts and memory, to our behaviour and personality. Injury to the brain, however it is caused, affects people in different ways with each person having unique physical, emotional, intellectual or behavioural problems. These problems may not always be apparent and for this reason it is often referred to as a 'hidden disability'.
These difficulties - which the person with a brain injury may not be aware of themselves - can be severely life restricting and go largely unrecognised by the public, statutory authorities and non-expert professionals.
Each year an estimated 1 million people attend hospital accident and emergency in the UK following brain injury. Many more head injuries go unreported and are not assessed by medical professionals. It is estimated that across the UK there are 500,000 people of working age living with long-term disabilities as a result of traumatic brain injury.
Headway Black Country seeks to address the needs of its client group by:
- Ensuring accurate information is made available to brain injury survivors, their families and interested professional. Provision takes various forms including telephone enquiries, a website, presence at events, training sessions and a comprehensive range of brain injury publications. These include those published by Headway UK and those of other specialist agencies such as the Stroke Association.
- Providing guidance about entitlements and practical support to access support services. Being a voice for those who find interaction with statutory and other services difficult and/or daunting.
- Access to our counselling service for those in need of emotional support.
- Presence at several hospitals serving our area to provide early support to survivors and to their families/carers
- Regular Carer Support Groups to foster mutual support, provide respite and social activities.
- Organising and running a Life Skills Service over five days per week at our Centres at Dudley and Willenhall. With the help of volunteers and paid staff, we provide person centred life skills activities in small groups for people with a brain injury. At the end of March 2024, we were providing 29 Life Skills Activity Sessions (257 individual session spaces) each week.
- Working in partnership with other organisations, charities and statutory bodies to raise awareness of brain injury and to support our beneficiary group more effectively.
- Campaigning on behalf of brain injury survivors and carers; representing their needs at relevant forums including Headway UK and the United Kingdom Acquired Brain Injury Forum, contributing to national debates on brain injury related issues.
In undertaking these activities, Headway Black Country and its Trustees confirm the Charity has complied with its duty under section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.
Up to March 2024, our Chief Officer has worked tirelessly with the team and partners on dealing with many staff changes following leavers and change in roles, as well as improvement and implementation of policies and procedures to ensure the safe and effective running of Headway Black Country. This has enabled us to have a solid team, with clear roles and responsibilities and clear direction on the objectives and the actions needed to sustain and grow.
Page 5
Headway Black Country
for the Year Ended 31 March 2024
## Report of the Trustees
## **OBJECTIVES AND ACTIVITIES**
## **Risk**
The key risk continues to be funding to ensure stability and growth of our charity. With the changing economic conditions over the last 3 years, we will be reviewing and updating our Risk Register and ensuring the key risks with mitigating actions are reviewed in our quarterly Trustee meetings
We are working with the four local authorities within the Black Country and the Black Country Integrated Care Board and other bodies to ensure that we continue to be funded to deliver the vital support and services we offer to people with brain injury, their families and carers. In line with our Business Plan we are actively exploring new services that will provide sustainable income sources over time.
## **Protection of vulnerable adults**
All clients attending our Life Skills Sessions are individually risk assessed as are the activities they engage in. Headway Black Country is committed to safeguarding of vulnerable adults. We have policy and procedures for the protection of people who use our services, provide regular staff training and subscribe to the Safeguarding Adults Multi-Agency Policy and Procedures for the West Midlands.
## **ACHIEVEMENT AND PERFORMANCE**
## **Achievement and Performance 2023/24**
During the year Headway Black Country has continued to achieve its objectives, providing significant benefits to the service users, their families and carers.
## Life Skills Services
1st April 2023 - 82 clients attending at least one session each week. 31st March 2024 - 85 clients attending at least one session each week.
## Outreach Service
The outreach service has continued to support people both on the telephone and in person. Referrals for April 2023 - March 2024 - 330 clients, families and carers.
## Counselling Service
During the year; 27 new counselling referrals were received.
## **FINANCIAL REVIEW**
## **Financial position**
The Charity receives income from the provision of care services. It also seeks financial support for specific activities / services from a variety of sources including charitable trusts, local authorities and health trusts. Fundraising and charitable giving by individuals, organisations and groups also make important contributions to our services and activities.
During the year to 31st March 2024 the charity received donations, service income, grants and interest amounting to £666,776 (2023 £508,066). It has spent £516,112 (2023 - £537,713) in pursuit of the Charity's objects. At 31st March 2024 £782,839 (2023 - £632,175) was held as Restricted and Unrestricted Funds. The detailed accounts are set out on the pages 9 to 25 of these financial statements.
Page 6
Headway Black Country
Report of the Trustees for the Year Ended 31 March 2024
## **FINANCIAL REVIEW**
## **Funds policy**
Headway Black Country and its Trustees consider that the assets within the Charity should be at a level to cover the Charity's operational costs for at least six months. The reserves are needed to bridge the funding gaps between spending on the Charity's overheads and the receipt of new grants and development of new income streams.
In previous financial years, an Accommodation Strategy was adopted and a Designated Building Fund developed. However, building costs had more than doubled post Covid and despite a comprehensive report from Baxendale proving the financial viability of the organisation, a decision was made not to commit to this increased expense. Following consultation with clients and staff, it is proposed to develop an accessible garden project instead. Therefore the Designated Building Fund has been released back into general funds this year.
Our Investment Policy guides our approach to the application of reserves to further the work of the Charity having regard to its Business Plan and investment risks. The majority of the reserves are represented by cash at bank and the managerial staff monitor the cash levels on a daily basis and report any material fluctuations to the Trustees.
## **FUTURE PLANS**
## **Looking Ahead**
At the close of March 2024, we are proposing (to be agreed in the April 2024 Trustee Board meeting) that our 3 strategic priorities will be:
- Investment into Business Development to increase our funding stream opportunities - Investment in a Garden Room to free up space for new sessions for existing & new clients
- Increased Brand awareness through marketing materials and a new website, built with SEO in mind
The above will be achieved through donations and grants where possible. We recognise that there are many more people with ABI who would greatly benefit from our services so at the close of March 2025 our focus will turn to collaboration with partners to sustain and grow our service
We continue to engage with a wide range of statutory agencies, voluntary partners and commissioning bodies in order to sustain our work and explore opportunities of meeting unmet need amongst those affected by acquired brain injury.
Trustees are dedicated to seeking other funding and income streams to give our organisation security and stability so that we can continue to provide services to people with acquired brain injury and their families and carers in the long-term.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Approved by order of the board of trustees on 28 November 2024 and signed on its behalf by:
Ms Deborah Ann Pejica - Trustee
Page 7
Independent Examiner's Report to the Trustees of Headway Black Country
## **Independent examiner's report to the trustees of Headway Black Country ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr Andrew James Smith FCCA
Lewis Smith & Co. Chartered Certified Accountants The Old Doctor's House 74 Grange Road Dudley West Midlands DY1 2AW
28 November 2024
Page 8
Headway Black Country
## Statement of Financial Activities for the Year Ended 31 March 2024
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
31,462
**Charitable activities**
3
Grants receivable
-
Income received through the provision of
rehabilitative services
453,430
Investment income
9,765
**Total**
494,657
**EXPENDITURE ON**
**Charitable activities**
4
Staff and volunteer costs
393,973
Property costs
32,483
Other operating costs
51,433
**Total**
477,889
**NET INCOME/(EXPENDITURE)**
16,768
**RECONCILIATION OF FUNDS**
Total funds brought forward
603,291
**TOTAL FUNDS CARRIED FORWARD**
620,059|Restricted
funds
£
147,957
24,162
-
-
172,119
33,863
-
4,360
38,223
133,896
28,884
162,780|31.3.24
Total
funds
£
179,419
24,162
453,430
9,765
666,776
427,836
32,483
55,793
516,112
150,664
632,175
782,839|31.3.23
Total
funds
£
11,839
37,417
455,239
3,571
508,066
401,156
46,526
90,031
537,713
(29,647)
661,822
632,175|
|---|---|---|---|
The notes form part of these financial statements
Page 9
Headway Black Country
## Balance Sheet
## 31 March 2024
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
10
210,315
**CURRENT ASSETS**
Debtors
11
54,394
Cash at bank and in hand
372,067
426,461
**CREDITORS**
Amounts falling due within one year
12
(16,717)
**NET CURRENT ASSETS**
409,744
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
620,059
**CREDITORS**
Amounts falling due after more than one year
13
-
**NET ASSETS**
620,059
**FUNDS**
16
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
729
-
162,051
162,051
-
162,051
162,780
-
162,780|31.3.24
Total
funds
£
211,044
54,394
534,118
588,512
(16,717)
571,795
782,839
-
782,839
620,059
162,780
782,839|31.3.23
Total
funds
£
216,722
42,755
436,856
479,611
(25,754)
453,857
670,579
(38,404)
632,175
603,291
28,884
632,175|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 10
Headway Black Country
## Balance Sheet - continued
## 31 March 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 28 November 2024 and were signed on its behalf by:
Ms Deborah Ann Pejica - Trustee
The notes form part of these financial statements
Page 11
Headway Black Country
## Cash Flow Statement for the Year Ended 31 March 2024
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash provided by/(used in) operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Net cash used in investing activities
**Cash flows from financing activities**
Loan repayments in year
Net cash used in financing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|31.3.24
£
143,804
(1,667)
142,137
(2,650)
(2,650)
(42,225)
(42,225)
97,262
436,856
534,118|31.3.23
£
(16,443)
(2,073)
(18,516)
(850)
(850)
(3,616)
(3,616)
(22,982)
459,838
436,856|
|---|---|---|
The notes form part of these financial statements
Page 12
Headway Black Country
## Notes to the Cash Flow Statement for the Year Ended 31 March 2024
## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**OPERATING ACTIVITIES**||||
|---|---|---|---|
|||31.3.24|31.3.23|
|||£|£|
|**Net income/(expenditure) for the reporting period (as per the**||||
|**Statement of Financial Activities)**||150,664|(29,647)|
|**Adjustments for:**||||
|Depreciation charges||8,328|8,769|
|Interest paid||1,667|2,073|
|(Increase)/decrease in debtors||(11,639)|439|
|(Decrease)/increase in creditors||(5,216)|1,923|
|**Net cash provided by/(used in) operations**||143,804|(16,443)|
|**ANALYSIS OF CHANGES IN NET FUNDS**||||
||At 1.4.23|Cash flow|At 31.3.24|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|436,856|97,262|534,118|
||436,856|97,262|534,118|
|**Debt**||||
|Debts falling due within 1 year|(3,821)|3,821|-|
|Debts falling due after 1 year|(38,404)|38,404|-|
||(42,225)|42,225|-|
|**Total**|394,631|139,487|534,118|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
The notes form part of these financial statements
Page 13
Headway Black Country
Notes to the Financial Statements for the Year Ended 31 March 2024
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The presentation currency of the financial statements is the Pound Sterling (£) and the figures are rounded to the nearest round pound.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Voluntary income received by the way of donations and gifts to the charity is included in full in the Statement of Financial Activates when recieved.
Grants are credited to the Statement of Financial Activates on a receivable basis. Grants received in advance have been recognised as deferred income and are released to the Statement of Financial Activates when the related expenditure is incurred.
Income received through the provision of rehabilitative services is credited to the Statement of Financial Activates in the period to which it relates.
Investment income is included when receivable and the amount can be measured reliably by the charity.
Other charitable activity income and other income are included in the period to which they relate.
Intangible income is valued and included in income to the extent that it represents goods or services which would otherwise be purchased. Where it is not possible to value the goods or services, such as volunteer time, the accounts do not include thus value.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
Where costs cannot be directly attributed to particular headings they are allocated to activities using estimates deemed appropriate by the Trustees on a basis consistent with the use of resources. Expenditure is classified under the following activity headings:
Cost of raising funds comprises investment management costs and their associated support costs.
Expenditure on charitable activities included the costs undertaken to further the purpose of the charity and their associated support costs
Support costs comprise those costs which are incurred directly in support of expenditure on the objectives of the charity and include governance costs and back office costs. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
The basis upon which support costs have been allocated are set out in note 3 of the financial statements.
continued...
Page 14
Headway Black Country
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **1. ACCOUNTING POLICIES - continued**
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years Computer equipment - 25% on reducing balance
Tangible fixed assets are items of equipment, furniture etc and have a useful life in excess of one year. The charity has adopted a policy of writing off, in the year of acquisition, all fixed assets costing £350 or less.
Donated assets are valued at the time of acquisition.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are the unrestricted funds of the charity which the trustees have decided at their discretion to set aside for a specific purpose.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Financial instruments**
Debtors and creditors with no stated interest rate receivable or payable are recorded at their transaction price. Any basic financial instruments are recognised at amortised cost using the effective interest method.
## **2. DONATIONS AND LEGACIES**
|Donations
Legacies|31.3.24
£
31,553
147,866
179,419|31.3.23
£
11,839
-|
|---|---|---|
|||11,839|
Page 15
continued...
Headway Black Country
## Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **3. INCOME FROM CHARITABLE ACTIVITIES**
|31.3.24
Activity
£
Grants
Grants receivable
24,162
Income received through the provision of
Rehabilitative services
rehabilitative services
453,430
Investment income
Investment income
9,765
487,357
Grants received, included in the above, are as follows:
31.3.24
£
General grants
24,162
**4.**
**CHARITABLE ACTIVITIES COSTS**
Support
Direct
costs (see
Costs
note 5)
£
£
Staff and volunteer costs
347,355
80,481
Property costs
26,343
6,140
Other operating costs
41,560
14,233
415,258
100,854
**5.**
**SUPPORT COSTS**
Information
Governance
Finance
technology
Other
costs
£
£
£
£
Staff and volunteer costs
-
-
80,481
-
Property costs
-
-
6,140
-
Other operating costs
918
3,115
6,025
4,175
918
3,115
92,646
4,175|31.3.23
£
37,417
455,239
3,571|
|---|---|
||496,227|
||31.3.23
£
37,417
Totals
£
427,836
32,483
55,793|
||516,112|
||Totals
£
80,481
6,140
14,233|
||100,854|
## **6. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.3.24|31.3.23|
|---|---|---|
||£|£|
|Other assurance services|4,175|4,319|
|Depreciation - owned assets|8,328|8,769|
Page 16
continued...
Headway Black Country
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **8. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Average number of employees|31.3.24
£
384,587
21,853
7,212
413,652
31.3.24
26|31.3.23
£
366,713
18,761
8,314|
|---|---|---|
|||393,788|
|||31.3.23
30|
No employees received emoluments in excess of £60,000.
## **Key Management Personnel**
In the year, the total aggregate costs relating to key management personnel (which is considered to be the charity's Chief Officer, Jayne Emery) were £53,187 (2023 - £47,369). This cost includes gross salary, employers national insurance and pension contributions. The Chief Officer is not a trustee of the charity, Jayne has been in post throughout both of the past two financial years.
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
11,839
**Charitable activities**
Grants receivable
-
Income received through the provision of
rehabilitative services
455,239
Investment income
3,571
**Total**
470,649
**EXPENDITURE ON**
**Charitable activities**
Staff and volunteer costs
378,237
Property costs
42,918
Other operating costs
58,739
**Total**
479,894|Restricted
funds
£
-
37,417
-
-
37,417
22,919
3,608
31,292
57,819|Total
funds
£
11,839
37,417
455,239
3,571|
|---|---|---|
|||508,066|
|||401,156
46,526
90,031|
|||537,713|
continued...
Page 17
Headway Black Country
## Notes to the Financial Statements - continued for the Year Ended 31 March 2024
|**9.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
funds
funds
£
£
**NET INCOME/(EXPENDITURE)**
(9,245)
(20,402)
**RECONCILIATION OF FUNDS**
Total funds brought forward
612,536
49,286
**TOTAL FUNDS CARRIED FORWARD**
603,291
28,884
**10.**
**TANGIBLE FIXED ASSETS**
Freehold
Computer
property
equipment
£
£
**COST**
At 1 April 2023
271,430
44,523
Additions
-
2,650
At 31 March 2024
271,430
47,173
**DEPRECIATION**
At 1 April 2023
65,128
34,103
Charge for year
5,429
2,899
At 31 March 2024
70,557
37,002
**NET BOOK VALUE**
At 31 March 2024
200,873
10,171
At 31 March 2023
206,302
10,420
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.3.24
£
Trade debtors
46,818
Prepayments and accrued income
7,576
54,394|Total
funds
£
(29,647)
661,822
632,175
Totals
£
315,953
2,650
318,603
99,231
8,328
107,559
211,044
216,722
31.3.23
£
38,126
4,629
42,755|
|---|---|
continued...
Page 18
Headway Black Country
## Notes to the Financial Statements - continued for the Year Ended 31 March 2024
|**12.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|---|
|||31.3.24|31.3.23|
|||£|£|
||Bank loans and overdrafts (see note 14)|-|3,821|
||Trade creditors|1,257|2,838|
||Social security and other taxes|6,187|5,038|
||Pension creditor|1,428|2,655|
||Attachment of earnings|279|-|
||Accruals and deferred income|7,566|11,402|
|||16,717|25,754|
|**13.**|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**|||
|||31.3.24|31.3.23|
|||£|£|
||Bank loans (see note 14)|-|38,404|
|**14.**|**LOANS**|||
||An analysis of the maturity of loans is given below:|||
|||31.3.24|31.3.23|
|||£|£|
||Amounts falling due within one year on demand:|||
||Bank loans|-|3,821|
||Amounts falling between one and two years:|||
||Bank loans - 1-2 years|-|3,821|
||Amounts falling due between two and five years:|||
||Bank loans - 2-5 years|-|11,463|
||Amounts falling due in more than five years:|||
||Repayable by instalments:|||
||Bank loans more 5 yr by instal|-|23,120|
|**15.**|**SECURED DEBTS**|||
The bank loan was secured by a legal charge over the freehold land and buildings.
continued...
Page 19
Headway Black Country
## Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **16. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Building reserve
**Restricted funds**
Lottery Funding
Lottery Funding - Server
Eveson Trust Grant
Screwfix Foundation
National Heritage
Black Country Consortium
Beacon Centre
Additional Counselling Support
New Development Project
**TOTAL FUNDS**
Net movement in funds, included in the above are as
**Unrestricted funds**
General fund
**Restricted funds**
Lottery Funding
Lottery Funding - Server
Eveson Trust Grant
National Heritage
QE Project
Black Country Consortium
Beacon Centre
Additional Counselling Support
New Development Project
**TOTAL FUNDS**|At 1.4.23
£
413,291
190,000
603,291
15,392
972
4,555
2,418
1,124
4,423
-
-
-
28,884
632,175
follows:|Net
movement
in funds
£
16,768
-
16,768
(15,392)
(243)
(249)
-
(1,124)
(4,423)
3,346
4,115
147,866
133,896
150,664
Incoming
resources
£
494,657
-
-
-
91
12,833
-
3,346
7,983
147,866
172,119
666,776|Transfers
between
At
funds
31.3.24
£
£
190,000
620,059
(190,000)
-
-
620,059
-
-
-
729
-
4,306
-
2,418
-
-
-
-
-
3,346
-
4,115
-
147,866
-
162,780
-
782,839
Resources
Movement
expended
in funds
£
£
(477,889)
16,768
(15,392)
(15,392)
(243)
(243)
(249)
(249)
(1,215)
(1,124)
(12,833)
-
(4,423)
(4,423)
-
3,346
(3,868)
4,115
-
147,866
(38,223)
133,896
(516,112)
150,664|
|---|---|---|---|
continued...
Page 20
Headway Black Country
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **16. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|At 1.4.22
£
**Unrestricted funds**
General fund
422,536
Building reserve
190,000
612,536
**Restricted funds**
Future Builders Grant
70
Santander Foundation
79
Lottery Funding
24,211
Lottery Funding - Server
1,296
Dudley MBC Carers Grant
26
Eveson Trust Grant
4,555
Kick Start Grant
189
Access Reach Fund
13,860
Screwfix Foundation
5,000
National Heritage
-
Black Country Consortium
-
49,286
**TOTAL FUNDS**
661,822
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
470,649
**Restricted funds**
Future Builders Grant
-
Santander Foundation
-
Lottery Funding
-
Lottery Funding - Server
-
Dudley MBC Carers Grant
-
Kick Start Grant
2,925
Access Reach Fund
-
Screwfix Foundation
-
Heart of England
8,835
National Heritage
7,000
QE Project
11,667
Communities in Sync
2,000
Black Country Consortium
4,990
37,417
**TOTAL FUNDS**
508,066|Net
movement
At
in funds
31.3.23
£
£
(9,245)
413,291
-
190,000
(9,245)
603,291
(70)
-
(79)
-
(8,819)
15,392
(324)
972
(26)
-
-
4,555
(189)
-
(13,860)
-
(2,582)
2,418
1,124
1,124
4,423
4,423
(20,402)
28,884
(29,647)
632,175
Resources
Movement
expended
in funds
£
£
(479,894)
(9,245)
(70)
(70)
(79)
(79)
(8,819)
(8,819)
(324)
(324)
(26)
(26)
(3,114)
(189)
(13,860)
(13,860)
(2,582)
(2,582)
(8,835)
-
(5,876)
1,124
(11,667)
-
(2,000)
-
(567)
4,423
(57,819)
(20,402)
(537,713)
(29,647)|
|---|---|
continued...
Page 21
Headway Black Country
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **16. MOVEMENT IN FUNDS - continued**
The purpose of the restricted funds are as follows:
## **Future Builders Grant**
This was a capital grant to cover the costs of moving premises to Martin Street Hill, Dudley and refurbishment costs. This fund was fully utilised in the previous year.
## **Santander Foundation**
This was a grant towards the provision of IT services for clients. This fund was fully utilised in the previous year.
## **Lottery Funding**
This was a grant to deliver sufficient extension to the services already provided for brain injury survivors. This included new rehabilitation sessions for survivors in Walsall, extending the sessions already provided in Dudley, a new family outreach service to help families and careers and an advice partnership with Dudley CAB. In particular, it provided a service dedicated to supporting carers of brain injury survivors whose needs for specialist support and information often go unmet and unrecognised. This funding cased in the previous year and the balance of the reaming fund brought forward was fully utilised in the current year.
## **Lottery Funding - Server**
Some of the lottery funding was used to acquire a server at a cost of £5,700. This has been treated as a fixed asset and annual depreciation is charged against the fund.
## **Dudley MBC Carers Grant**
This was grant funding to support Carer Support Groups for family members of survivors in Dudley. This fund was fully utilised in the previous year.
## **Eveson Trust**
This is a grant to support development of Survivor Peer Support, Tea and chat and Carer Support Groups.
## **Kick Start Grant**
This was funding given to help the charity employ a Social Media Assistant for a period of six months. She was employed from December 2021 to June 2022. This fund was fully utilised in the previous year.
## **Access Reach Fund**
This grant provided consultancy funding to help strengthen not only the charity's application for funding for the Annex Project but also to strengthen some of our Business/Strategic Planning etc. This fund was fully utilised in the previous year.
## **Screwfix Foundation**
The Screwfix grant was given to the charity for us to investigate and repair the subsidence at the front of the building and to treat the damp in the stationery cupboard. Some of the grant still remains and will be put towards future building repairs when required.
## **National Heritage Fund**
A celebration of Headway's 25th year anniversary and providing visits to the Black Country Museum.etc. This fund was fully utilised in the current year.
## **QE Project**
For our Outreach Team to support brain Injury patients at the Queen Elizabeth Hospital. This fund was fully utilised in the current year.
## **Communities In Sync**
This service is designed to assist Sandwell residents, with an acquired brain injury, who are currently on a waiting list for 'Wellbeing Support' which is provided by the Black Country Healthcare NHS Foundation Trust. This grant was received and fully utilised in the previous year.
continued...
Page 22
Headway Black Country
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **16. MOVEMENT IN FUNDS - continued**
## **Black Country Consortium**
This fund was to provide seated exercise class and weekly walks to clients. This fund was fully utilised in the current year.
## **Beacon Centre**
This fund is provided by Black Country Healthcare NHS Foundation Trust. This is a new fund received close to the end of the year which will be spent in 2024/25.
## **Additional Counselling Support**
This grant was to provide counselling services to clients.
## **New Development Project**
A legacy donation of £147,866 was received during the year to support the charity's new development project.
## **17. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2024.
## **18. ULTIMATE CONTROLLING PARTY**
The charity is under the control of the trustees.
Page 23
Headway Black Country
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
|Detailed Statement of Financial Activities
for the Year Ended 31 March 2024|||
|---|---|---|
||31.3.24|31.3.23|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|31,553|11,839|
|Legacies|147,866|-|
||179,419|11,839|
|**Charitable activities**|||
|Grants|24,162|37,417|
|Rehabilitative services|453,430|455,239|
|Investment income|9,765|3,571|
||487,357|496,227|
|**Total incoming resources**|666,776|508,066|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|312,285|297,771|
|Social security|17,745|15,234|
|Pensions|5,856|6,771|
|Heat, light and rates|4,270|5,648|
|Telephone|4,483|4,331|
|Printing, postage & stationery|3,639|3,972|
|Sundry expenses|3,062|4,809|
|Travel expenses|2,754|2,005|
|Publicity costs|1,517|4,874|
|Rent and insurance|8,213|14,018|
|Professional fees|4,697|22,834|
|Training and books|7,310|4,004|
|Repairs and renewals|9,631|13,704|
|Computer costs|12,619|12,860|
|Equipment hire|3,425|3,621|
|Membership fees|796|3,144|
|Cleaning|3,123|2,770|
|Life and health insurance|1,661|-|
|Bad debts|-|1,594|
|Depreciation|6,818|7,120|
|Mortgage and loan interest|1,354|1,683|
||415,258|432,767|
|**Support costs**|||
|**Finance**|||
|Bank charges|605|627|
|Mortgage and loan interest|313|390|
||918|1,017|
This page does not form part of the statutory financial statements
Page 24
Headway Black Country
## Detailed Statement of Financial Activities for the Year Ended 31 March 2024
|Detailed Statement of Financial Activities
for the Year Ended 31 March 2024|||
|---|---|---|
||31.3.24|31.3.23|
||£|£|
|**Finance**|||
|**Information technology**|||
|Telephone|193|187|
|Computer costs|2,922|3,197|
||3,115|3,384|
|**Other**|||
|Wages|72,302|68,942|
|Social security|4,108|3,527|
|Pensions|1,356|1,543|
|Heat, light and rates|989|1,308|
|Rent and insurance|1,901|3,246|
|Telephone|845|816|
|Printing, postage & stationery|842|920|
|Sundry expenses|709|1,113|
|Training and books|1,692|927|
|Travel expenses|638|464|
|Publicity costs|351|1,128|
|Repairs and renewals|2,230|3,173|
|Professional fees|1,088|5,348|
|Membership fees|184|643|
|Equipment hire|793|838|
|Cleaning|723|641|
|Life and health insurance|385|-|
|Depreciation|1,510|1,649|
||92,646|96,226|
|**Governance costs**|||
|Auditors' remuneration for non audit work|4,175|4,319|
|Total resources expended|516,112|537,713|
|**Net income/(expenditure)**|150,664|(29,647)|
This page does not form part of the statutory financial statements
Page 25