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2023-06-30-accounts

Charity registration number 1160233

THE HELIOS FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

THE HELIOS FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr R Baldock
Mr P McDonnell
Mr G Branson
Mr T Thorpe
Ms D O'Connor
Charity number 1160233
Principal address 116 Judd Street
London
WC1H 9NS
Independent examiner Mitchell Charlesworth
24 Nicholas Street
Chester
CH1 2AU

THE HELIOS FOUNDATION

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6 - 7
Balance sheet 8
Notes to the financial statements 9 - 19

THE HELIOS FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2023

The trustees present their annual report and financial statements for the year ended 30 June 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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)".

Objectives and activities

Helios provides a comprehensive service which includes counselling, psychotherapy, holistic body treatments such as acupuncture and osteopathy. We also give advice and some advocacy plus sign posting to other useful services helping clients with poor housing, financial difficulties and increasingly helping client access food banks.

We serve HIV+ people on low income (70% of our clients) with a focus on marginalised groups who often have inadequate access to services. We do a lot of out-reach to three main groups. Long term HIV, BME and the Trans community. Many of our clients are aging which has additional challenges

(1) Our largest client group remains long term HIV+ people whose overall physical or psychological health is gradually declining, with organ degeneration and a large number of debilitating side issues such as chronic pain, peripheral neuropathy and sleep issues.

(2) The demographic of our clients has gradually changed with more refugees and asylum seekers, especially BME women, often bringing up children on their own. Many are still dealing with stigma and rejection from their community and have physical and emotional issues needing to be addressed.

Helios offers support for emotional, physical and practical issues through therapy and advice sessions to the most marginalised people. 48% are for counselling, psychotherapy and life coaching provided alongside physical treatments including nutrition, acupuncture and osteopathy. Treatment effectiveness is often set back by unmet basic needs with accompanying emotional stress that must be addressed by them in order to move on.

Advocacy: There has been a marked increase in the complexity of the needs of many of our clients, not dealt with adequately elsewhere. Consequently, we increasingly need to provide advocacy for clients with serious life issues that affect their longterm mental wellbeing such as housing issues or accessing appropriate medical or social services.

Funding: Our community space is also used for volunteer training and peer support groups. After hours, local groups and organisations rent our rooms. We are very concerned that this source of income has been reduced over the Covid period which has seriously compromised our funding model.

Achievements and performance

Our continued monitoring and analysis of client data has helped the staff and therapists fully understand the clients’ issues and why certain therapies are most in demand. Our improved structures and programmes, developed prior to Covid, requiring more detailed programme monitoring and oversight than has been needed in the past, are under considerable stress.

The opportunity for clients to see improvement has been very empowering for them. Some outcomes were: 1) improved health, 2) feeling more optimistic, 3) able to manage pain more effectively, 4) being part of a community and feeling supported, 5) improvement in their relationships.

Strengths: The mix of clients from BME women to LGBTQ people has created an inclusive and non-threatening environment that they can feel safe in. Strong networks with local partners and agencies have helped greatly to reach many people new to this kind of treatment. The volunteer team is very committed and costs have been kept to a minimum.

High numbers of clients are served each week. Some come from referral agencies dealing with clients who are not well despite HIV medication. The number of BME HIV+ women attending Helios is encouraging, especially as it was initially difficult to build a relationship with this group due to the stigma associated with HIV. From this strong base, we are now reaching out further into this community.

THE HELIOS FOUNDATION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

We have always had strong links with the transgender community, both male-female and female-male. Indeed, our longstanding experience serving the LGBTQ community and our informal surroundings is reassuring to transgender people used to discrimination. Because of our very effective approaches, the number coming here has continued to grow through word of mouth.

We are one of very few London charities in the holistic therapy field with an extensive range of psychological sessions alongside physical treatment. We fill a number of significant gaps in services provided elsewhere. Many other providers limit access by postcode, gender, sexuality or race – and clients are often given a fixed set of sessions before being placed on a waiting list for further treatment. At Helios, we provide ongoing treatment according to need.

Risks and challenges: Our reliance on unpaid senior positions. Though there is a high degree of commitment and a good pool of effective volunteers at that level, we have not yet been able to establish one paid top full-time managerial post. ·

The increasing and shifting needs of many clients. The demand for increased advocacy, to support the more vulnerable clients with issues such as housing, welfare, withdrawal of care and finance is escalating. Our advocacy remains informal so we do need extra resources for this area to be more consistently implemented in the future.

Further funds are also needed for a more inclusive LGBT counselling and psychotherapy programme. Helios has seen a marked increase in clients unable to manage the system and in crisis.

Financial review

Room rents and group room rents have not recovered to the levels of pre Covid, which has reduced the income of the charity significantly. The unrestricted reserve funds having decreased from £80,033 to £46,132 in 2022 have now increased to £190,258 mainly due to a legacy from a former trustee of £168,000. We have designated £66,000 to the new building refurbishments. The remaining £102,000 has been added to our reserves.

The situation is improving and clients have increase what they can donate towards there therapy. The trustees are working towards increasing the reserve fund and are in talks with private donors.

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks.

Plans for future periods

After 22 years operating in Judd Street, next door to Camden Town Hall, our current Landlords have served notice to quit. The good news is we have secured new premises in Holborn and Camden Council will be our new Landlord. The new premises are in poor condition and need substantial renovation giving us the opportunity to create an environmentally friendly center with full disabled access and extra rooms to see more clients.

2020 - 2023 Funders

The Mac Foundation The Branson Family Community Fund (National Lottery) Private donations Mill Hill Trust

Structure, governance and management

The charity is a charitable trust and registered as a charity on 12th July 1982. A memorandum of association establishes the objects and the power of the trust and is governed under its Articles of Association.

Type of governing document Trust deed dated 13 August 1982 How the charity is constituted By trust Trustee selection methods By appointment

Additional Governance Issues The organisational structure consists of an advisory committee to the trustees and a management committee.

THE HELIOS FOUNDATION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

The trustees who served during the year and up to the date of signature of the financial statements were: Mr R Baldock

Mr P McDonnell

Mr G Branson

Mr T Thorpe Ms D O'Connor

Structure:

A. The 5 current Trustees, sustain the mission, carry out the statutory responsibilities and oversee the charity. They hold the sums, assets and income to advance for the benefit of the public the study and practice of the arts and sciences associated with holistic health.

B. A management committee of 8 made up of mainly clients and therapists who give their recommendations to the trustees.

D. 31 Therapists, carefully chosen for their high quality and skill. The majority stay with us for many years providing continuity.

E. 28 Volunteers, many of them service users, cover all areas and are the backbone of the organisation.

Volunteers include jobseekers needing work experience and retirees. They benefit by gaining confidence, computer & IT skills and learning how to work as a team.

Volunteers can claim for travel and lunch expenses.

Volunteer retention is excellent. Some have been with us for over 20 years.

In our reception area, you’ll see people of all walks of life all getting along. In this respect we serve the true diversity of people living with HIV helping to break down stigma and prejudice. Our volunteers also reflect this ethos.

THE HELIOS FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

FSI Evaluation

We recently underwent a full FSI evaluation these are some of their findings

Helios’ approach makes these changes possible, because

Improvements:

The trustees' report was approved by the Board of Trustees.

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.............................. .............................. Mr R Baldock Mr G Branson

24/01/2024 Date: .............................................

THE HELIOS FOUNDATION

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE HELIOS FOUNDATION

I report to the trustees on my examination of the financial statements of The Helios Foundation (the charity) for the year ended 30 June 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of FCCA, which is one of the listed bodies.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

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 financial statements to be reached.

Alex Makinson, FCCA Mitchell Charlesworth

24 Nicholas Street Chester CH1 2AU

26/01/2024 Dated: .........................

THE HELIOS FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2023

Current financial year
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
Notes
£
£
£
Income from:
Donations and legacies
3
227,461
-
109,299
Charitable activities
4
6,066
-
-
Investments
5
723
-
-
Total income
234,250
-
109,299
Expenditure on:
Charitable activities
6
11,063
-
188,360
Net incoming/(outgoing) resources before
transfers
223,187
-
(79,061)
Net incoming/(outgoing) resources before
transfers
223,187
-
(79,061)
Gross transfers between funds
(145,061)
66,000
79,061
Net income/(expenditure) for the year/
Net movement in funds
78,126
66,000
-
Fund balances at 1 July 2022
46,132
-
122,005
Fund balances at 30 June 2023
124,258
66,000
122,005		 Total
2023
£
336,760
6,066
723
343,549
199,423
144,126
144,126
-
144,126
168,137
312,263		 Total
2022
£
155,823
5,467
14
161,304
201,930
(40,626)
(40,626)
-
(40,626)
208,763
168,137

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

THE HELIOS FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2023

Prior financial year
Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and legacies
3
50,734
105,089
Charitable activities
4
5,467
-
Investments
5
14
-
Total income
56,215
105,089
Expenditure on:
Charitable activities
6
503
201,427
Net incoming/(outgoing) resources before transfers
55,712
(96,338)
Gross transfers between funds
(89,613)
89,613
Net income/(expenditure) for the year/
Net movement in funds
(33,901)
(6,725)
Fund balances at 1 July 2021
80,033
128,730
Fund balances at 30 June 2022
46,132
122,005		 Total
2022
£
155,823
5,467
14
161,304
201,930
(40,626)
-
(40,626)
208,763
168,137

THE HELIOS FOUNDATION

BALANCE SHEET

AS AT 30 JUNE 2023

Notes
Fixed assets
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
15
Unrestricted funds
Designated funds:
Property Fund
16
General unrestricted funds		 2023
£
1
340,437
340,438
(28,175)
66,000
66,000
124,258		 £
-
312,263
312,263
122,005
190,258
312,263		 2022
£
9,658
173,279
182,937
(16,805)
-
-
46,132		 £
2,005
166,132
168,137
122,005
46,132
168,137

Within the financial year £66,000 of unrestricted funds was designated for the refurbishments of the property to be leased in January 2024 to satisfy the charities needs.

24/01/2024

The financial statements were approved by the Trustees on .........................

.............................. ..............................
Mr R Baldock Mr G Branson
Trustee Trustee

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

1 Accounting policies

Charity information

The Helios Foundation is a charitable trust, incorporated and registered as a charity on 12th July 1982. The principle address is 116 Judd Street, London, WC1H 9NS.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is recognised when it is incurred and is recorded gross of related income.

1.6 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
general general
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Donations and gifts 227,461 109,299 336,760 50,734 105,089 155,823

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

Donations and legacies
Donations and gifts
Funding - Mill Hill Trust
Lottery
Client donation
Pro Client Legacy		 3,000
-
56,417
168,044
227,461		 30,000
79,299
-
-
109,299		 33,000
79,299
56,417
168,044
336,760		 -
-
50,734
-
50,734		 (Continued)
30,000
30,000
75,089
75,089
-
50,734
-
-
105,089
155,823		 (Continued)
30,000
30,000
75,089
75,089
-
50,734
-
-
105,089
155,823
155,823

3 Donations and legacies

4 Charitable activities

Room rents

2023 2022
£ £
6,066 5,467

5 Investments

Interest receivable

Unrestricted Unrestricted
funds funds
general general
2023 2022
£ £
723 14

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

6 Charitable activities

Consultancy fees
Volunteer training
Remedies
Staff costs
Therapist
Rent
Insurance
Light & heat
Office expenses
Rates
Repairs & renewals
Telephone
Share of governance costs (see note 7)
Analysis by fund
Unrestricted funds - general
Restricted funds
Support costs
Support costs
Governance
costs
£
£
Accountancy
-
2,406
Legal and professional
-
8,656
-
11,062
Analysed between
Charitable activities
-
11,062		 2023
£
10,699
1,076
644
54,174
70,806
34,015
-
2,344
12,020
1,441
628
514
188,361
11,062
199,423
11,063
188,360
199,423
2023
£
2,406
8,656
11,062
11,062		 2022
£
8,434
-
965
61,388
80,537
32,975
1,459
1,970
10,327
2,442
420
509
201,426
504
201,930
503
201,427
201,930
2022
£
504
-
504
504

7 Support costs

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total 3 4

No employees received total employee benefits of more than £60,000 in the year.

There were no employees whose annual remuneration was more than £60,000.

10 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11 Fixed asset investments

Listed investments
£
Cost or valuation
At 1 July 2022 & 30 June 2023 2,005
Carrying amount
At 30 June 2023 2,005
At 30 June 2022 2,005

12 Debtors

Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2023
£
1
-
1		 2022
£
1
9,657
9,658

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

13
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
14
Accruals and deferred income
14
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 July 2022
Released from previous periods
Resources deferred in the year
Deferred income at 30 June 2023		 2023
2022
£
£
5,528
698
18,275
12,495
4,372
3,612
28,175
16,805
2023
2022
£
£
18,275
12,495
2023
2022
£
£
18,275
12,495
12,495
19,884
(12,495)
(19,884)
18,275
12,495
18,275
12,495

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 July 2021
£
Investments
2,005
Mill Hill charitable trust
-
Lottery fund
6,725
Property fund
120,000
Transfers between funds
-
128,730		 Movement in funds
Incoming
resources
Resources
expended
£
£
-
-
30,000
(30,000)
75,089
(81,814)
-
-
-
(89,613)
105,089
(201,427)		 Transfers
Balance at
1 July 2022
£
£
-
2,005
-
-
-
-
-
120,000
89,613
-
89,613
122,005		 Movement in funds
Incoming
resources
Resources
expended
£
£
-
-
30,000
(30,000)
75,089
(75,089)
-
-
-
(79,061)
105,089
(184,150)		 Transfers
Balance at
30 June 2023
£
£
-
2,005
-
-
-
-
-
120,000
79,061
-
79,061
122,005		 Transfers
Balance at
30 June 2023
£
£
-
2,005
-
-
-
-
-
120,000
79,061
-
79,061
122,005
122,005

Investments

These represent funds that have been invested in CIC investments.

Property Funds

This money was donated for a new building in 2010. These funds are restricted for this use only.

Transfers

During the year a transfer of £79,061 was made from unrestricted to restricted funds. This represents the charities contribution towards restricted projects during the year

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

16 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in
funds
Incoming Balance at Transfers Balance at
resources 1 July 2022 30 June 2023
£ £ £ £
Property fund - - 66,000 66,000
- - 66,000 66,000

Within the financial year £66,000 of unrestricted funds was designated for the refurbishments of the property to be leased in January 2024 to satisfy the charities needs.

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

17 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Designated
funds
Restricted
funds
2023
2023
2023
£
£
£
Fund balances at 30 June 2023 are represented by:
Investments
-
-
-
Current assets/(liabilities)
124,258
66,000
122,005
124,258
66,000
122,005		 Total
Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
-
-
2,005
312,263
46,132
120,000
312,263
46,132
122,005		 Total
2022
£
2,005
166,132
168,137

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

18 Related party transactions

There are no key management personnel

Our Ref: AMAK/HLS/H674650 Document ID:1917553

The Board of Trustees The Helios Foundation 116 Judd Street London WC1H 9NS

24 January 2024

Dear Sirs

The purpose of this letter is to set out the basis on which we act as independent examiners and accountants of the charity and the respective areas of our responsibilities and those of the trustees.

We are bound by the ethical guidelines of our professional Institute, and accept instructions to act for you on the basis that we will act in accordance with those ethical guidelines.

1 Independent examination

1.1 Responsibilities of trustees and independent examiners

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1.2 Scope of examination

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the basis that such reports are not prepared with the interests of anyone other than the charity in mind and that we accept no duty or responsibility to any other party as concerns the reports.

Other services

It was agreed that we should carry out the following services as your agents on the basis that you will make full disclosure to us of all relevant information.

2. Accounting services

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3. Value added tax (VAT)

3.1 At the time of this letter you are not VAT registered. If registration becomes necessary, we will endeavour to ensure that you register in time provided that:

4. Limitation of liability

To the fullest extent permitted by law, we will not be responsible for any losses where you or others supply incorrect or incomplete information, or fail to supply any relevant or appropriate information, or where you fail to act on our advice or respond promptly to communications from us.

In the event that a claim for negligence shall arise against us our liability in respect thereof shall be limited to an amount of ten times our fees for the service to which the claim relates.

We acknowledge that the limit in respect of our total aggregate liability will not apply to any acts, omissions or representations that are in any way criminal, dishonest or fraudulent on the part of Mitchell Charlesworth, its partners or employees.

5.

Responsibility for your affairs

The practice operates an engagement partner system to ensure that you have at least one main point of contact at partner level.

The name of the partner who has responsibility for your affairs is Alex Makinson.

The other key member of the team is Mike Griffiths.

If you are in any way unhappy with our service please contact Alex Makinson in the first instance. If you wish to take the matter further, please contact Rob Hall in the Chester office.

6. Terms and conditions

This engagement letter should be read in conjunction with our standard terms and conditions, a copy of which is attached. Further copies are available on request and are available on our website at http://www.mitchellcharlesworth.co.uk/terms-conditions.

Terms and conditions are subject to variation to reflect current practice and/or changes to professional and other regulatory requirements that we are obliged to meet. We will provide one month’s written notice of our intention to modify these terms.

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7. Agreement of terms

Yours faithfully

Mitchell Charlesworth

We have read and understood the contents of this letter and confirm our agreement to its terms.

24/01/2024

…………………………………………………………. …………………………………………. Signed for and on behalf of Date The Helios Foundation

The Helios Foundation 116 Judd Street, London, WC1H 9NS

24/01/2024

Mitchell Charlesworth 24 Nicholas Street Chester CH1 2AU

Dear Sirs

This letter is provided in connection with your independent examination of the accounts of The Helios Foundation for the year ended 30 June 2023.

We confirm that the following representations are made to the best of our knowledge and belief, having made such inquiries of management and staff as we considered necessary to satisfy ourselves that each of the following representations can properly be made.

General

We have fulfilled our responsibilities as trustees, as set out in the terms of your engagement letter dated 24[th] January 2024 under the Charities Act 2011, for the preparation of the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) for being satisfied that they give a true and fair view and for making accurate representations to you.

All accounting records and relevant information have been made available to you for the purpose of your independent examination and all transactions undertaken by the charity have been properly recorded in the accounting records and are reflected in the accounts.

All other records and related information, including minutes of all trustees’ meetings, have been made available to you. We have provided unrestricted access to persons within the entity from whom you have deemed it necessary to request information.

We confirm that the accounts are free of material misstatements, including omissions.

Internal Control and Fraud

We acknowledge our responsibility for the design, implementation, and maintenance of internal control systems to prevent and detect fraud.

We have disclosed to you all information in relation to fraud or suspected fraud that we are aware of affecting the entity involving management or employees who have a significant role in internal control or others where fraud could have a material effect on the accounts.

We have also disclosed to you all information in relation to allegations of fraud, or suspected fraud affecting the entity’s accounts communicated by current or former employees, analysts, regulators, or others.

Laws and Regulations

We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business, and which could affect the accounts.

The charity has complied with all aspects of its contractual agreements that could have a material effect on the accounts in the event of non-compliance.

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Accounting Estimates

Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.

Assets and Liabilities

The charity has satisfactory title to all assets, and there are no liens or encumbrances on the charity’s assets except as disclosed in the accounts.

We have recorded or disclosed, as appropriate, all liabilities both actual and contingent, and have disclosed in the notes to the accounts all guarantees given to third parties.

The carrying value and where relevant the fair value measurements and classification of assets and liabilities are properly reflected in the accounts and there are no plans or intentions that may materially alter this.

Stock is not stated at an amount in excess of net realisable value. There are no plans to abandon product lines or other plans that will result in any excess or obsolete stock.

Loans and Arrangements

The charity has at no time during the year entered into any arrangement, transaction or agreement to provide credit facilities (including loans, quasi loans or credit transactions) for trustees, nor to guarantee or provide security for such matters.

Legal Claims

We have disclosed all known actual or possible litigation and claims that have been, or are expected to be received and such matters, as appropriate, have been properly accounted for and disclosed in the accounts.

Related Parties

Related party relationships and transactions have been appropriately accounted for and disclosed in the accounts. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters that require disclosure in order to comply with the requirements of charity law or accounting standards.

Subsequent Events

All events since the balance sheet date which require disclosure, or which would materially affect the amounts in the accounts have been adjusted or included in the accounts.

Going Concern

We believe that the charity’s accounts should be prepared on a going concern basis on the grounds that the current and future sources of funding or support will be more than adequate for the charity’s needs. We have considered a period of twelve months from the date of approval of the accounts.

We believe that no further disclosures relating to the charity’s ability to continue as a going concern need to be made in the accounts.

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Grants and donations

All grants, donations and other income, the receipt of which being subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income.

Regulatory matters

We are not aware of any matters of material significance that should be reported to the Charity Commission.

There have been no other communications with the Charity Commission or other regulatory bodies during the year or subsequently concerning matters of non-compliance with any legal duty.

Yours faithfully

Signed on behalf of the Board of Trustees by:

Mr R Baldock Trustee