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← The Helios Foundation

2024-06-30-accounts

Charity registration number 1160233

THE HELIOS FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

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 - 5
Independent examiner's report 6
Statement of financial activities 7 - 8
Balance sheet 9
Notes to the financial statements 10 - 19

THE HELIOS FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2024

The trustees present their annual report and financial statements for the year ended 30 June 2024.

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)".

Introduction

The Helios Centre has been working with people living with HIV in London since 1986. We work are located in Kilburn, in temporary accommodation. We will shortly be moving to prior new premises in Holborn, which are being adapted to make them welcoming for clients and functional for our work..

Our clients come to us from all over London and highly value our unique service. We provide a range of therapeutic interventions. These include counselling/psychotherapy (including trauma-informed therapies) and complementary therapies such as osteopathy, acupuncture and therapeutic massage.

Our mission is to support our clients to improve their physical and mental well-being through the provision of a range of therapies, advice and advocacy. As part of this we have always worked with our clients to encourage and support adherence to drug treatment regimens, especially antiretroviral treatment (ARVs).

Most of our service users have either a physical or mental disability and often both, the average age of our clients ranges from 45-75 years, and all are on or below the poverty line.

Long-term HIV+ clients: This group contracted HIV before modern treatments were available, often progressing to AIDS. They have poor health with, comorbid long-term conditionsities, and chronic issues. Our holistic treatments improve their overall quality of life. Many experience deteriorating health, affecting their mobility and cognition. Our holistic treatments improve their overall quality of life.

HIV+ Women of Colour: Most of this group that we work with are refugees and asylum seekers. Most Many are diagnosed late in their HIV journey, often only discovering their HIV status upon hospital admission. Most are refugees and asylum seekers. They often face physical and psychological decline, requiring therapies for chronic pain and sleep issues. They struggle with medication adherence, navigating government forms, and emotional isolation due to HIV stigma. This group has increased from 25% -30%.

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.

THE HELIOS FOUNDATION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

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.

Volunteers

We currently employ 3 part-time project staff supported by 25 volunteers. We are particularly experienced at supporting volunteers with mental ill health issues in need of social contact. We help them toing improve their skills and , increase their confidence. M, and most importantly volunteering reduces their feelings of isolation. This part of what we do is hugely important and has provided many of our clients with a pathway into participating in society. Volunteers report being attracted the Helios due to its Holistic holistic nature and see is as a safe and supportive space.

Achievements and performance

Significant activities and achievements against objectives

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 2024

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

Reserves policy

The unrestricted reserves are £96,422, representing approximately 50% of annual running costs. This is in line with expectations.

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.

Location

After 22 years operating in Kings-Cross we have moved to Kilburn. These are temporary premises, and we are preparing to move to new premises in Holborn, where Camden Council will be our new Landlord. This move is pivotal to the growth and continued success of our organization.

The new building is in poor repair and needs extensive renovations, consequently we are able to lease it at a reduced rent. Generous donations and grants have enabled us to carry out a capital project costing £346,000 to refurbish the premises. This represents a long-term investment in a much used,valued and necessary service. It will result in the creation of a modern, accessible, and environmentally friendly facility.

The new space will feature full disabled access and additional capacity to serve more clients effectively. The Holborn premises are in a central,location, easy to reach from all parts of London. They will offer a 20% larger and more adaptable space, significantly enhancing our ability to support London's HIV+ and LGBT+ communities, ensuring our long-term sustainability.

2020 - 2023 Funders

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

THE HELIOS FOUNDATION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

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 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

Recruitment and appointment of trustees

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.

(2) Project manager (3) Cleaner

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.

We pride ourselves on the diversity of our clients, volunteers and staff. Helios is committed to inclusion. Our clients include refugees and asylum seekers, trans people and many men and women of colour. People living with HIV are a group as diverse as the general population and we ensure that we welcome anyone that needs our assistance.

THE HELIOS FOUNDATION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

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

.............................. Mr R Baldock

.............................. Mr G Branson

Date: ............................................. 27/03/2025

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 2024.

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

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. Otex TYlakineon

Alex Makinson, FCCA

Mitchell Charlesworth

24 Nicholas Street Chester CH1 2AU

Dated: ......................... 27/03/2025

THE HELIOS FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2024

Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2024
2024
2024
Notes
£
£
£
Income from:
Donations and legacies
3
116,344
-
68,275
Charitable activities
4
8,441
-
-
Investments
5
5,509
-
-
Total income
130,294
-
68,275
Expenditure on:
Charitable activities
6
(505)
-
226,910
Total expenditure
(505)
-
226,910
Net income/(expenditure)
130,799
-
(158,635)
Transfers between funds
(158,635)
-
158,635
Net movement in funds
(27,836)
-
-
Reconciliation of funds:
Fund balances at 1 July 2023
124,258
66,000
122,005
Fund balances at 30 June 2024
96,422
66,000
122,005		 Total
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2024
2023
2023
2023
£
£
£
£
184,619
227,461
-
109,299
8,441
6,066
-
-
5,509
723
-
-
198,569
234,250
-
109,299
226,405
11,063
-
188,360
226,405
11,063
-
188,360
(27,836)
223,187
-
(79,061)
-
(145,061)
66,000
79,061
(27,836)
78,126
66,000
-
312,263
46,132
-
122,005
284,427
124,258
66,000
122,005		 Total
2023
£
336,760
6,066
723
343,549
199,423
199,423
144,126
-
144,126
168,137
312,263

THE HELIOS FOUNDATION

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

FOR THE YEAR ENDED 30 JUNE 2024

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

BALANCE SHEET

AS AT 30 JUNE 2024

2024 2023
Notes £ £ £ £
Current assets
Debtors 11 50,000 1
Cash at bank and in hand 237,506 340,437
287,506 340,438
Creditors: amounts falling due within one year 12 (3,079) (28,175)
Net current assets 284,427 312,263
The funds of the charity
Restricted income funds 14 122,005 122,005
Unrestricted funds - general 16 96,422 124,258
Unrestricted funds - designated 15 66,000 66,000
284,427 312,263

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 financial statements were approved by the trustees on ......................... The financial statements were approved by the trustees on .........................
27/03/2025
.............................. ..............................
Mr R Baldock Mr G Branson

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

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 or grantors 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 2024

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 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.

1.7 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.

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.

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

Derecognition of financial liabilities

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

1.8 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
funds
funds
general
2024
2024
£
£
Donations and gifts
116,344
68,275
Donations and gifts
Funding - Mill Hill Trust
-
30,000
Lottery
-
18,275
G Branson
61,856
-
Client donation
54,488
-
Pro Client Legacy
-
-
Other
-
20,000
116,344
68,275		 Total
Unrestricted
Restricted
funds
funds
general
2024
2023
2023
£
£
£
184,619
227,461
109,299
30,000
3,000
30,000
18,275
-
79,299
61,856
-
-
54,488
56,417
-
-
168,044
-
20,000
-
-
184,619
227,461
109,299		 Total
2023
£
336,760
33,000
79,299
-
56,417
168,044
-
336,760

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income
Sale of goods 8,441 6,066
5 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 5,509 723

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

6 Expenditure on charitable activities

Charitable Charitable
activities activities
2024 2023
£ £
Direct costs
Consultancy fees 7,560 10,699
Volunteer training - 1,076
Remedies 1,831 644
Staff costs 72,277 54,174
Therapist 88,874 70,806
Rent 204 34,015
Light & heat 3,297 2,344
Office expenses 12,755 12,020
Rates 954 1,441
Repairs and renewals 38,714 628
Telephone 444 514
226,910 188,361
Share of support and governance costs (see note 7)
Governance (505) 11,062
226,405 199,423
Analysis by fund
Unrestricted funds - general (505) 11,063
Restricted funds 226,910 188,360
226,405 199,423
Support costs allocated to activities
2024 2023
£ £
Governance costs (505) 11,062
Analysed between:
Charitable activities (505) 11,062

7 Support costs allocated to activities

8 Trustees

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

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

9 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2024 2023
Number Number
Total 4 3
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.

Remuneration of key management personnel

There were no disclosable related party transactions during the year (2023 - none). There are no key management personnel

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Debtors

Amounts falling due within one year:
Other debtors
Prepayments and accrued income
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
13
Other creditors
Accruals		 2024
£
-
50,000
50,000
2024
£
160
-
322
2,597
3,079		 2023
£
1
-
1
2023
£
5,528
18,275
-
4,372
28,175

12 Creditors: amounts falling due within one year

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

13
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 2023
Released from previous periods
Resources deferred in the year
Deferred income at 30 June 2024		 2024
£
-
2024
£
-
18,275
(18,275)
-
-		 2023
£
18,275
2023
£
18,275
12,495
(12,495)
18,275
18,275

14 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 July 2023 Incoming Resources Transfers At 30 June 2024
resources expended
£ £ £ £ £
- 20,000 (21,499) 1,499 -
Investments 2,005 - - - 2,005
Mill Hill charitable trust - 30,000 (30,000) - -
Lottery fund - 18,275 (18,275) - -
Property fund 120,000 - - - 120,000
Transfers between funds - - (157,136) 157,136 -
122,005 68,275 (226,910) 158,635 122,005

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

14 Restricted funds (Continued)
Previous year: At 1 July 2022 Incoming Resources Transfers At 30 June 2023
resources expended
£ £ £ £ £
- 4,210 (4,210) - -
Investments 2,005 - - - 2,005
Mill Hill charitable trust - 30,000 (30,000) - -
Lottery fund - 75,089 (75,089) - -
Property fund 120,000 - - - 120,000
Transfers between funds - - (79,061) 79,061 -
122,005 109,299 188,360 79,061 122,005

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 £157,136 was made from unrestricted to restricted funds. This represents the charities contribution towards restricted projects during the year

15 Unrestricted funds - designated

These are unrestricted funds which are material to the charity's activities.

At 1 July 2023 Transfers At 30 June 2024
£ £ £
Property fund 66,000 - 66,000
Previous year: At 1 July 2022 Transfers At 30 June 2023
£ £ £
Property fund - 66,000 66,000

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 July 2023 Incoming Resources Transfers At 30 June 2024 Transfers At 30 June 2024
resources expended
£ £ £ £ £
General funds 124,258 130,294 505 (158,635) 96,422
Previous year: At 1 July 2022 Incoming Resources Transfers At 30 June 2023
resources expended
£ £ £ £ £
Property fund - - - 66,000 66,000
General funds 46,132 234,250 (11,063) (211,061) 58,258
46,132 234,250 11,063 (145,061) 124,258

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

THE HELIOS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

17 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Designated
funds
Restricted
funds
2024
2024
2024
£
£
£
Fund balances at 30 June 2024 are represented by:
Current assets/(liabilities)
96,422
66,000
122,005
96,422
66,000
122,005		 Total
Unrestricted
funds
Designated
funds
Restricted
funds
2024
2023
2023
2023
£
£
£
£
284,427
124,258
66,000
122,005
284,427
124,258
66,000
122,005		 Total
2023
£
312,263
312,263

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

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 2024.

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:

nohin haldock

Mr R Baldock

Trustee